Monday, May 23, 2011
Mah Sing to launch RM2.5bil projects
Tan Sri Leong Hoy Kum with a model of Icon Residence@Mont’Kiara
PETALING JAYA: Mah Sing Group Bhd will launch RM2.5bil to RM3bil worth of projects in the Klang Valley, Penang and Johor this year to meet its sales target of RM2bil for the current financial year ending Dec 31.
Group managing director and chief executive Tan Sri Leong Hoy Kum said the projects would comprise an array of commercial, residential and industrial properties.
The two commercial projects are Icon City Petaling Jaya and Star Avenue@D'Sara, while the industrial project is iParc 3@Bukit Jelutong.
Residential projects lined up for launch in the Klang Valley include Hijauan Residence in Cheras, Kinrara Residence, Aman Perdana, Bayu Sekamat, M Suites@Jln Ampang, M City@Jln Ampang and Garden Plaza in Cyberjaya.
There are also three residential projects to be launched in Penang Legenda@Southbay, Icon Residence and Ferringhi Residence. The project in Johor Baru is Sierra Perdana.
Leong said Mah Sing's RM2bil sales target for this year was higher than the record sales of RM1.5bil achieved last year.
As at April 11, the developer recorded sales of RM738mil, which was about 37% of its sales target for this year. Mah Sing also has unbilled sales of RM1.3bil as at Dec 31, 2010 that will be realised over the next two to three years.
For the financial year ended Dec 31, 2010 (FY10), Mah Sing achieved profit after tax and minority interest of RM118mil, a 25.5% increase over RM94mil in 2009. Group revenue for FY10 was also higher at RM1.1bil against RM702mil previously.
Leong said Mah Sing would aggressively expand its land bank and was now looking for suitable prime land in greater Kuala Lumpur, Penang island and Johor Bahru.
Last year, the group undertook 10 land acquisition exercises. This year, it has so far signed one deal.
“These are prime land which can yield remaining gross development value (GDV) and unbilled sales of about RM14.1bil. It should keep the group busy for the next seven years,” he added.
Leong said Mah Sing aimed to buy land that could provide GDV of RM7bil to RM12bil this year. He said the group had the resources to fund the acquisitions.
Besides making outright land purchase, the group is also open to joint ventures with land owners.
“We are scouting for land near the proposed MRT stations, as the new transport infrastructure would create higher value for these land,” he added.
Mah Sing's upcoming projects that are located near the proposed MRT stations along the Sungai Buloh-Kajang line include Star Avenue@D'Sara (near Taman Industri Sungai Buloh station) and One Legenda and Hijauan Residence (near Taman Suntex station).
Projects along the proposed circle line include M Suites (near Great Eastern mall stop), M City (near Ampang point station) and Icon Residence Mont Kiara (near Matrade stop).
Star Avenue@D'Sara, the first night-guarded concept shop-office development, is one of the first new commercial projects coming up along Jalan Sungai Buloh. The RM402mil project comprises 3-storey shop offices and retail lots.
The RM980mil Kinrara Residence is a medium-high-end residential project on about 139 acres in Puchong. It comprises superlink residences, semi-detached units and bungalows.
M-City@Jalan Ampang will feature residential suites, designer small-office home-office (soho), sky villas and boutique retail units on five acres of freehold land.
The RM1.2bil project is targeted for preview in the second half of this year. Its first-phase preview will be designer soho and 3-storey boutique retail shops.
Icon Residence Mont' Kiara will feature 260 partially-furnished residences with a GDV of RM408mil. The development will offer about 200 different unit layouts in three iconic towers of 26, 28 and 36 storeys.
Dubbed garden terraces in the sky, the residences will have price tags from RM1.148mil.
By The Star
Friday, April 29, 2011
Luxury lakeside condominium
Cool sight: The LaCosta sandy beach pool.
Sunway City Berhad (SunCity) continues to strengthen its presence as a leading property developer in Malaysia with the much-anticipated LaCosta at Sunway South Quay which is located within the Sunway Integrated Resort City (SIRC).
LaCosta has a sandy beach pool that will be the perfect corner for families to gather and enjoy a splash together, as well as an Olympic-length pool.
Residents will be thrilled by the fact that they do not have to travel miles to enjoy a sandy beach pool as all they have to do is to take the elevator.
SunCity leveraged on its expertise in managing the Sunway Lagoon theme park which has the world’s largest man-made surf beach when developing the sandy beach pool for LaCosta.
In view of its unique sandy beach pool concept, the launch of LaCosta was recently held at the Surf Beach @ Sunway Lagoon where the public was invited for a fabulous beach party.
The response was overwhelming and it was indeed a unique way of launching a property as SunCity offered guests a first-hand beach experience which will be replicated in LaCosta in the future.
Guests were entertained by lively dance performances, magicians, clowns and a delicious barbeque dinner. They were also presented with the opportunity to build sand castles and view an exciting volcano show.
Standing tall on a land area spanning 5.39 acres, the four-tower condominium is nestled in the opulent Sunway South Quay.
The development will have 377 units with a built-up ranging from 1,302 sq. ft to 3,226 sq. ft. The gross development value (GDV) is approximately RM400 million.
The selling price ranges from RM880,000 onwards with attractive financing packages that includes developer interest bearing scheme during construction. Currently, there is a discount of 10% for a limited period of time.
“LaCosta is yet another unique property in Sunway South Quay as it allows residents to enjoy a metropolis lifestyle next to a 28acre lake. To date, BayRocks Garden Waterfront Villas and A’marine condominium in Sunway South Quay have both enjoyed overwhelming responses.
“As such, we are confident that LaCosta will be in high demand and its appeal is strengthened further as it is situated within a hub of award-winning and world-class shopping, theme park, hospitality, education and healthcare facilities,” said Sunway City Berhad managing director (property development Malaysia) Ho Hon Sang.
One of the main unique selling points of LaCosta is that every unit enjoys a lakeside view. Apart from the unique sandy beach pool, residents can also enjoy lushly landscaped podiums, extra-wide balconies projecting a better view for each unit and most importantly, exclusive privacy with only four units per floor.
There will also be four uniquely themed sky gardens — Mediterranean, Tropical, Herb and Zen Gardens with facilities that include a games room, ballet studio, yoga zone and others.
The development also oversees a majestic view of the entire Kuala Lumpur skyline in the distant horizon and inspiring horizons of the Sunway South Quay lake.
By The Star
Tuesday, April 12, 2011
Bangi Heights ready to launch Legundi Residensi
KUALA LUMPUR: United Malayan Land Bhd's unit, Bangi Heights Sdn Bhd, will launch its latest project, the RM40 million Legundi Residensi (1) development this month.
Spread across 3.37ha, the exclusive Legundi Residensi (1) offers limited residential from the 52 double-storey cluster homes, the 12 double-storey semi-detached (semi-Ds) and one bangalow unit.
The cluster homes have built-ups of 2,156 sq ft and 2,405 sq ft, the semi-Ds are slightly larger with built-ups of 2,545 sq ft and 2,559 sq ft, while the bangalow is a larger 2,9818 sq ft unit.
Price for the cluster homes starts at RM543,000, the semi-Ds from RM687,000 and the bangalow at RM1.2 million.
Bangi Heights said the development would appeal to those with income above RM7,000 per month wanting to upgrade to bigger house or for investors looking for a second home.
Tucked within the Bandar Seri Putra in Bangi, the new project is expected to see positive upside based on earlier phases launched.
The developer noted that a semi-D lot in Phase 8(B) had appreciated by 19 per cent to RM815,000 from its original price of RM680,000.
It also said that demand for its products launched in 2010 was above average with take-up rate exceeding 85 per cent.
"With the continuation of cheap lending rate and relatively easy credit availability, we expect the residential property market to continue to perform well in 2011 in Bandar Seri Putra, particularly the residential property sector in general," it said.
With a total size size of 898 acres around, Bangi Heights has around 22 per cent of the total land yet to be developed.
The company aims to develop more commercial facilities in future, namely street mall retail outlets and another petrol station to serve the growing population.
By Business Times
Spread across 3.37ha, the exclusive Legundi Residensi (1) offers limited residential from the 52 double-storey cluster homes, the 12 double-storey semi-detached (semi-Ds) and one bangalow unit.
The cluster homes have built-ups of 2,156 sq ft and 2,405 sq ft, the semi-Ds are slightly larger with built-ups of 2,545 sq ft and 2,559 sq ft, while the bangalow is a larger 2,9818 sq ft unit.
Price for the cluster homes starts at RM543,000, the semi-Ds from RM687,000 and the bangalow at RM1.2 million.
Bangi Heights said the development would appeal to those with income above RM7,000 per month wanting to upgrade to bigger house or for investors looking for a second home.
Tucked within the Bandar Seri Putra in Bangi, the new project is expected to see positive upside based on earlier phases launched.
The developer noted that a semi-D lot in Phase 8(B) had appreciated by 19 per cent to RM815,000 from its original price of RM680,000.
It also said that demand for its products launched in 2010 was above average with take-up rate exceeding 85 per cent.
"With the continuation of cheap lending rate and relatively easy credit availability, we expect the residential property market to continue to perform well in 2011 in Bandar Seri Putra, particularly the residential property sector in general," it said.
With a total size size of 898 acres around, Bangi Heights has around 22 per cent of the total land yet to be developed.
The company aims to develop more commercial facilities in future, namely street mall retail outlets and another petrol station to serve the growing population.
By Business Times
Monday, April 11, 2011
RM2.94bil worth of properties will be launched in Penang this year
An artist's impression of the RM50mil Pavilon Towers.
GEORGE TOWN: Some RM2.94bil worth of residential and commercial properties from six developers, based in Kuala Lumpur and Penang, will be launched on the island this year.
The south and south-west of the island will see some 1,275 units of residential and commercial properties launched with an estimated gross sales value (GSV) of RM1.45bil, while the north-east district will see the development of about 1,166 units of properties valued at RM1.49bil.
The commercial component in the south and south-west district is about 156 units with a GSV of RM221mil.
In the north-east, the commercial component will comprise 308 units of serviced suites and shop lots with a gross sales value of RM160mil.
Mah Sing Group Bhd, IJM Land Bhd, SP Setia Bhd, Ideal Property Development Sdn Bhd and Wabina Holdings Sdn Bhd are some of the developers that have drawn up plans for new launches this year.
In the south-west, Penang-based Ideal Property Development Sdn Bhd is launching the most projects this year with a combined estimated gross sales value of RM793mil.
Its projects in Bayan Lepas include the RM295mil Fiera Vista, comprising 470-unit condominiums;the RM250mil Valencia Park bungalow scheme, comprising 142 detached houses; and the RM248mil Taipan, a mixed development project comprising 75 shop lots (GSV RM149mil) and 75 semi-detached houses (GSV RM99mil).
“Both Fiera Vista and Valencia Park will be launched in July or August, while the Taipan will be launched in October,” Ideal Property managing director Datuk Alex Ooi said.
IJM Land is launching in June the RM300mil Light Collection III, comprising 150-unit condominiums next to the Penang Bridge, and the RM113mil The Address in Bukit Jambul comprising 148 low and high-rise condominiums in September.
For the commercial market, IJM Land is launching in the second half of 2011 the RM72mil Pearl Regency, comprising 81 retail lots, for its Metro-East mixed development scheme, near the Penang Bridge.
SP Setia Bhd's key project in the south-west district this year is the RM120mil Pearl Villas, comprising 35 bungalows, to be launched in April.
Wabina Holdings Sdn Bhd is introducing the first high-end condominium scheme, the RM50mil Pavilion Tower, comprising 99 condominiums in Teluk Kumbar, south-west district of the island.
In the north-east district, Mah Sing is undertaking the development of the Icon Residence at Burma Road and Batu Ferringhi Residence in Batu Ferringhi, which have a combined GSV of over RM1bil.
The group's spokesman said the RM280mil Icon Residence, comprising 280-unit condominiums with built-up areas ranging from 1,400 sq ft to 2,500 sq ft, would be unveiled in the second half of 2011.
The units are tentatively priced from RM770,000.
At the same time, the group will also introduce the RM800mil Batu Ferringhi Residence, which will comprise over 500 semi-detached houses and bungalows.
“There will also be condominiums with built-up areas of between 850 sq ft and 1,800 sq ft, priced from RM468,800,” he said.
SP Setia Property (North) general manager S. Rajoo said the group would launch the RM65mil Brooks Residences, comprising 11 bungalows, and the RM188mil Setia V Residence, comprising 67 units, in Kelawei Road, near Gurney Drive.
The projects would be launched respectively in July and September.
IJM Land is expected to launch the RM160mil Maritimes project, a commercial scheme which will comprise 240 serviced suites and 68 shop-lots.
By The Star
