Monday, December 31, 2012

Desa Embun Emas Wanted

Those who wish to sell or let his or her Desa Embun Emas in Hillside, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Sri Golden Bay Wanted

Those who wish to sell or let his or her Sri Golden Bay in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Harmony Residences Wanted

Those who wish to sell or let his or her Harmony Residences in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Infinity Beachfront Condo Wanted

Those who wish to sell or let his or her Infinity Beachfront Condo in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Springtide Residences Wanted

Those who wish to sell or let his or her Springtide Residence, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Skyhome Wanted

Those who wish to sell or let his or her Skyhome in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Villa Ria Wanted

Those who wish to sell or let his or her Villa Ria Condo in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Bellisa Court Wanted

Those who wish to sell or let his or her Bellisa Court in Pulau Tikus, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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U Garden Wanted

Those who wish to sell or let his or her U Graden Condo in Minden Height, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Delima Palace Wanted

Those who wish to sell or let his or her Delima Palace Condo in Island Glades, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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D'Piazza Condo Wanted

Those who wish to sell or let his or her D'Piazza Condo in Bayan Baru, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Putra Marine Wanted

Those who wish to sell or let his or her Putra Marine Condo, Seri Nibong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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I Regency Wanted

Those who wish to sell or let his or her I Regency Condo, Bukit Gambier, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Seri Kota Wanted

Those who wish to sell or let his or her Seri Kota Apartment, Georgetown, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Halaman Kristal Wanted

Those who wish to sell or let his or her Halaman Kristal Condo, off Free School Road, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Sri Permai Wanted

Those who wish to sell or let his or her Sri Permai Apartment along Free School Road, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Vantage Point Shop Wanted

Those who wish to sell or let his or her Vantage Point in Jelutong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Bayu Ferringhi Wanted

Those who wish to sell or let his or her Bayu Ferringhi condo in Batu Ferringhi, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Condo Gembira Wanted

Those who wish to sell or let his or her Condo Gembira in Island Glades, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Bukit Dumbar Villa Wanted

Those who wish to sell or let his or her Bukit Dumbar Villa in Bukit Dumbar, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Sunday, December 30, 2012

Bayan Residences Wanted

Those who wish to sell or let his or her Bayan Residence in Bukit Jambul, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Zan Villa Wanted

Those who wish to sell or let his or her Zan Villa in Sungai Ara, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Zan Pavillion Wanted

Those who wish to sell or let his or her Zan Pavillion Condo in Sungai Ara, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Sunway Merica Wanted

Those who wish to sell or let his or her Sunway Merica in Sungai Ara, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Golf View Wanted

Those who wish to sell or let his or her Golf View in Bukit Jambul, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Desa Bukit Jambul Wanted

Those who wish to sell or let his or her Desa Bukit Jambul in Bukit Jambul, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Desa Golf Wanted

Those who wish to sell or let his or her Desa Golf in Bukit Jambul, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Victoria Height Wanted

Those who wish to sell or let his or her Victoria Height in Bukit Jambul, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Gambier Height Wanted

Those who wish to sell or let his or her Gambier Height in Bukit Gambier, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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University Place Wanted

Those who wish to sell or let his or her University Place in Bukit Gambier, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Desa Airmas Wanted

Those who wish to sell or let his or her Desa Airmas in Sunga Dua, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Single Terrace in Tanjung Bungah Wanted

Those who wish to sell or let his or her Single Terrace in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Single Terrace in Fettes Park Wanted

Those who wish to sell or let his or her Single Terrace in Fettes Park, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Taman Seri Damai Wanted

Those who wish to sell or let his or her Taman Seri Damai in Batu Lanchang, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Park Avenue Wanted

Those who wish to sell or let his or her Park Avenue near Waterfall, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Forest Field Wanted

Those who wish to sell or let his or her Forest Field near Waterfall, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Halaman Pulau Tikus Wanted

Those who wish to sell or let his or her Halaman Pulau Tikus in Pulau Tikus, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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1 Permai Wanted

Those who wish to sell or let his or her 1 Permai in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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2 Permai Wanted

Those who wish to sell or let his or her 2 Permai in Tanjung Bungah, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Sunway Cassia Wanted

Those who wish to sell or let his or her Sunway Cassia in Batu Maung, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Flamingo Wanted

Those who wish to sell or let his or her Flamingo Series in Island Park, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Kingfisher Series Wanted

Those who wish to sell or let his or her Kingfisher Series in Island Park, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Jay Series Wanted

Those who wish to sell or let his or her Jay Series in Island Park, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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1 World 2 Wanted

Those who wish to sell or let his or her 1 World 2 in Bayan Baru, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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One World Wanted

Those who wish to sell or let his or her 1 World in Bayan Baru, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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The Brezza Wanted

Those who wish to sell or let his or her The Brezza Condo in Tanjung Tokong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Berjaya Condo Wanted

Those who wish to sell or let his or her Berjaya Condo in Pulau Tikus, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Berjaya Court Wanted

Those who wish to sell or let his or her Berjaya Court in Pulau Tikus, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Vantage Desiran Tanjung Shop Wanted

Those who wish to sell or let his or her Vantage Desiran Tanjung in Tanjung Tokong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Pulau Tikus Shop Wanted

Those who wish to sell or let his or her Pulau Tikus Shop, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Chulia Street Prewar Houses Wanted

Those who wish to sell or let his or her Prewar Houses at Chulia Street in World Heritage Site, Georgetown, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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China Street Prewar Houses Wanted

Those who wish to sell or let his or her Prewar Houses at China Street in World Heritage Site, Georgetown, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Muntri Street Prewar Houses Wanted

Those who wish to sell or let his or her Prewar Houses at Muntri Street in World Heritage Site, Georgetown, Penang, pls contact us soonest possible. Ready buyer is awaiting for you.

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Steward Lane Prewar Houses Wanted

Those who wish to sell or let his or her Prewar House at Steward Lane in World Heritage Site, Georgetown, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Love Lane Prewar Houses Wanted

Those who wish to sell or let his or her Love Lane Prewar House in World Heritage Site in Georgetown, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Armenian Street Prewar House Wanted

Those who wish to sell or let his or her Armenian Street Prewar Houses in World Heritage Site in Georgetown, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

Jazz Residences Wanted

Those who wish to sell or let his or her Jazz Residences In Tanjung Tokong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Fettes Residences Wanted

Those who wish to sell or let his or her Fettes Residences In Tanjung Tokong, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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新元换马币汇率转高　狮城人新山购房产占80%

（新加坡29日讯）新元换马币汇率转高，新加坡人纷纷涌邻国消费，甚至过去购置房产！房地产经纪表示，新山公寓的买家，狮城人就占80%。

据昨日报道，新元走强、汇率转高，不少新加坡人抢换令吉，导致新加坡多家兑换商“货源短缺”。据了解，汇率的增长刺激了市场，新加坡人涌入邻国消费，甚至还砸重金，在新山买公寓、有地住宅。记者向新加坡房地产经纪查询，发现新山公寓的买家，狮城人就占了80%。

张小姐（34岁，房地产经纪）告诉记者，她之前曾负责销售新山海边的公寓单位“Paragon Residences”，单位在短时间内就被抢购一空。

“新元兑换令吉的汇率高自然是一个因素，而优惠的贷款配套也吸引不少人。据估计，公寓的买家主要是新加坡人及一些永久居民，比例占了80%。” - 光华

Southbay Terrace House by Mah Sing Wanted

Those who wish to sell or let his or her Southbay Terrace House in Batu Maung, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Setia Pearl Island Terrace House Wanted

Those who wish to sell or let his or her Setia Pearl Island Terrace House in Sungai Ara, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Platino Luxury Condo Wanted

Those who wish to sell or let his or her Platino Luxury Condo in Gelugor, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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The Light Linear Wanted

Those who wish to sell or let his or her The Light Linear Condo in Gelugor, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Taman Pekaka Wanted

Those who wish to sell or let his or her Taman Pekaka in Pekaka, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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University Height Wanted

Those who wish to sell or let his or her University Height in Sungai Dua, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Mutiara Place Wanted

Those who wish to sell or let his or her Mutiara Place Condo in Island Glades, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Penang Real Estate | Penang Property | Penang Properties: 3 Storey Shop along Jalan Perak For Sale

Open for registration for 3 storey shop office along Jalan Perak, Georgetown, Penang. Those interested kindly submit soonest possible. Thanks

Penang Real Estate | Penang Property | Penang Properties: 3 Storey Shop along Jalan Perak For Sale

Perkhidmatan Hartanah di Pulau Pinang

Sesiapa yang berminat untuk mendapatkan perkhidmatan hartanah di Pulau Pinang, adalah dialu-alukan untuk menghubungi kami terutamanya sekiranya anda mempunyai hartanah seperti tanah, rumah, kedai ataupun kilang dan ingin menjualnya.

Kami akan mencuba sedaya upaya untuk menjualnya dengan cepat, mudah untuk tuan punya dan pada harga yang tinggi.

Hubungi kami untuk nasihat & perbincangan macam mana kami dapat menghulurkan perkhidmatan kami untuk sesiapa yang betul betul berminat.

Untuk menghubungi kami, tolong klip di sini.

Saturday, December 29, 2012

Desa Bistari Wanted

Those who wish to sell or let his or her Desa Bistari in Pantai Jerjak, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Taman Nyaman Indah Terrace House Wanted

Those who wish to sell his or her Taman Nyaman Indah Terrace House in Balik Pulau, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Regency Height Wanted

Those who wish to sell his or her Regency Height in Sungai Ara, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Industrial Land Wanted

Those who wish to sell his or her industrial land in mainland & Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Factory Wanted

Those who wish to sell his or her factory in mainland & Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Oasis Wanted

Those who wish to sell his or her Oasis Condo in Gelugor, Penang, pls contact us soonest possible. Ready buyer awaiting for you. Thanks

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Medan Hikmat Wanted

Those who wish to sell his or her Medan Hikmat in Eastern Garden, Penang, pls contact us soonest possible. Ready buyer is awaiting for you. Thanks

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Symphony Park Wanted

Those who wish to sell his or her Symphony Park in Jelutong, Penang, pls contact us soonest possible. Ready buyer awaiting for you. Thanks

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The property outlook for 2013

IN 2012, Malaysia's economy continued its steady growth in the order of 5% to 6% a year, a range that it has settled into since the Asian financial crisis of the mid 1990s.

The property market is correlated to economic growth. The residential subsector is also driven by high household formation that stems from Malaysia's relatively young population with rising income.

Residential prices, as measured against household income, is a key fundamental in this subsector. This is due to the fact that residential properties are mainly owner-occupied that mainly drives demand for residential properties.

To a lesser extent residential properties are also purchased for investment purposes, and thus rents, yields and capital appreciation are also important factors that drive the subsector.

Looking at historical trends, the subsector has shown an average relationship of four to 4.5 times of gross annual household income to residential price. But since five or six years ago, before and after the global financial crisis, residential prices have run up to higher multiples in many of the hotspots within Kuala Lumpur and other major urban centres in Malaysia first in very selected high interest areas and then in a horizontal spread.

The reasons for this run-up are many but can be narrowed to namely the prevailing low interest rate regime locally and globally, and a perception that property is a good hedge against inflation, more so after prolonged periods of low interest rates. There is also the fact that many investors are searching for higher yields to better protect their savings.

Net residential yields have also been falling to levels below 2% a year in many of the hotspots. Fearing a bubble in the sector, Bank Negara, like other central banks in the region, has introduced macro prudential measures, such as tweaking the loan-to-value ratio to defuse it.

This has had some effect but, as it has turned out, it has affected the secondary market (usually 80% to 85% of the residential market) more, than the primary market (where one buys from a developer).

A study of transactions in each of the first nine months of 2009 to 2012, as obtained from the National Property Information Centre or Napic, suggests that growth in transactions is slowing and may soon contract. Transaction numbers for the fourth quarter 2012 are still not out at the time of writing.

It also shows that while the compounded annual growth rate of transactions in the secondary residential market was 4.65% during those years, it was 28.5% in the primary market. While normally the primary market makes up around 10% to 20% of the market, for the first nine months of 2011, it reached an overall 21.76% and for the first nine months of 2012 it has gone on further to touch 24.05%.

The reason for this shift towards the primary market is not hard to rationalise. While Bank Negara has rightly introduced cooling measures in the market, developers, needing to continue to be participants at the same previous levels in the market, have introduced a variety of incentives to secure sales.

The incentives range from the initially introduced 5/95 scheme in January 2009, in the aftermath of the global financial crisis, to moves such as absorption of stamp duty and legal fees by developers, guaranteed rents and in some instances even cash-back payments. All this makes buying from the primary market a better proposition compared with the secondary market.

The allure of the primary market is further strengthened by the fact that in many instances loans can be secured without the purchase price being reduced by the incentives, as it should.

Market values are indeed the basis on which loans are approved but if a large part of the market is, and increasingly, priced at prices which includes the incentives, then the true market value can become hidden, which in turn can result in loans being higher than what they ought to be, and consequently, in a downturn, and or in the event of loan default, the carrying value can be higher than what it ought to be.

These issues need further study so that even better policy can be crafted for the residential property market so that it is sustainable.

In the big scheme of things, a main issue in 2013 for the residential subsector will be the inflow of funds that leave the low interest rate regimes of the developed economies in search for higher yields in emerging markets and in this part of the region.

This include flows into real estate investment.

A number of countries in the region have taken pre-emptive measures to strengthen their residential property sector from any possible repeat of the Asian financial crisis, like situations where cheap money flood in and exit in a hurry when there is an external shock.

While the residential market in Malaysia may not be a direct recipient of such funds unlike in other economies in the region, the fact that Bank Negara is watchful for such factors is evident in our macro prudential measures targeted at the residential subsector.

This indicates that if the market were surge to higher levels than what is seen as fundamentally reasonable, further cooling measures may be the order of the day. Perhaps policy measures then can also focus on maintaining a better balance between the primary and secondary markets.

> Elvin Fernandez believes in the free market and timely nudging by policymakers and key market participants to iron out any, and only where needed, imperfections in the system. To do this, and over time, they need a steady stream of in-depth market knowledge and insight. - The Star

The luxury condo market in 2013 is set to find itself in a ‘waiting game’ amid swelling supply

The overall high-end condominium market has been challenging in the past six months and this is expected to continue into next year.

Knight Frank reported that two new completions in the second half of 2012 with a total of 967 units from St. Mary Residences and Binjai 8 have brought the cumulative supply of condominium units in Kuala Lumpur to 30,849 units.

Real Estate Highlights (Second Half 2012) says this number is expected to swell further with the completions of several other projects. Their completions will significantly increase the cumulative supply by about 5,000.

The report says a high level of impending supply of high-end condominium is expected next year from on-going products.

This situation has led to developers and buyers playing a “waiting game”, with developers waiting for “the right timing” by putting launches on hold, and extending completion dates. Buyers on the other hand wait for better prospects.

Despite developers working with banks to offer easy lending schemes and incentives such as low down payments, discounts and free legal fees for sale and purchase agreement, the sales rates of selected recent launches and on-going developments, are slow.

This is particularly so for units with large built-up areas. This is a consequence of existing and impending supply and a challenging leasing market stemming from low occupational demand.

Against this backdrop, BRDB's Serai seems to buck the trend. Located at Bukit Bandaraya, Kuala Lumpur, Serai units range from 4,025 sq ft to 6,913 sq ft. Sold at between RM1,300 and RM1,500 per sq ft, that project is about 60% sold. There will be two penthouses of 14,000 sq ft, priced between RM19mil and RM22mil.

As for the Kuala Lumpur City Centre market, DTZ Nawawi Tie Leung Property executive director Brian Koh does not see any significant change in conditions for the larger units with a built-up area of 2,000 sq ft and above going forward.

“New supplies continue to be completed and even if demand were to improve, this will not be sufficient to mitigate market weaknesses,” says Koh.

“A new successful launch such as Four Seasons Residences or Platinum Park Residence will certainly create confidence, and assure existing and new buyers that the KLCC market is one that is worthwhile to hold long term. KLCC Properties will also have some iconic projects to be launched next year that will help to create and enhance the attractiveness of that overall location,” he says.

On the overall condominium market for the coming year, Koh prefers to focus on the Johor market. He says the condominium market will be the main demand driver in urban areas with Johor's Iskandar region showing more resilience given the low base it is coming from.

“Demand in the Klang Valley will be more selective and for more modest sizes and pricing. Locations that are further away but with potential MRT links will benefit most as their land cost remains more competitive,” says Koh.

It is not just the connectivity that buyers are looking for, as seen from the launch of Serai, which is ideally located between Kuala Lumpur and Petaling Jaya.

Increasingly, a popular trend in luxury housing is the branded residences concept that developers tie up with international luxury hospitality and lifestyle brands to set a new definition to luxury living. Hotel-like services such as concierge, security and room service provided by a luxury brand will help maximise the value of a development.

KL City is certainly getting a fair share of this new residential concept as evident from the success of Banyan Tree Signatures Kuala Lumpur (441 private residences) which were sold out at an average pricing of RM2,000 per sq ft. Other notable luxury brands coming on-stream include Four Seasons Place, W Kuala Lumpur Hotel & Residences, Ritz-Carlton and Harrods Hotel and Residences.

PPC International Sdn. Bhd's managing director Siders Sittampalamsays the high-rise residential segment registered an average rental rate of RM3.50 per sq ft per month. Rentals in the city centre were the highest in areas like KLCC, and for new condominiums in Bangsar and Mont'Kiara. Areas like Subang Jaya and Kota Damansara continue to command stable rates at an average of RM1.50 to RM2.50 per sq ft.

“Notwithstanding this, currently, there are no indications that market is heading towards a bubble' mode. Property prices next year are expected to stabilise with the exception of certain segments and localities that would experience a slowdown.

“We do not expect the market to be bullish as we have seen over the last few years. Our view is that there should not be stringent fiscal measures that would stifle the market. Excessive interference in the free market would have an impact on the investment climate.

“Prices should be market driven with sufficient government expenditure in providing affordable homes and a general improvement in infrastructure and transportation,” Siders says. - The Star

Bolton Bhd believes in a solid financial war chest and quick decisions in getting ahead

AS lands are getting scarce, developers have to form strategies to secure the land that they are keen on.

For Bolton Bhd executive director Chan Wing Kwong, speed is of the essence in deciding whether to purchase a piece of land or not.

To him, a solid war chest allows a developer to do just that.

“A lot of times, we have to make the decision on site. When we look at the land, we have to know what product we can develop there and how we are going to sell it and at what price, on the spot,” he tellsStarBizWeek.

Having a “war chest” then comes in handy.

“You must know the market well ... the moment you procrastinate, another player would have snapped it up,” he says.

When it comes to acquiring new land, the developer, especially those in city areas, may not have the privilege to study the land thoroughly.

Due to the rarity of good land, prices are heading north.

“Margins have become inelastic due to escalating land prices and rising material costs which make it hard to keep costs low.

“To mitigate that, developers have to increase efficiency and launch the projects quickly,” he says.

The increasing cost to fund projects will see more collaborations among developers in the future, he adds.

For Bolton, it has partnered with other developers for its projects at Wangsa Maju, 51G Kuala Lumpur and Mayang Land.

Besides the central region, the developer is also present in Pulau Langkawi, Penang, Sungai Petani (Kedah) and Malacca, with its landbank totalling 1,300 acres.

In East Malaysia, it has partnered with Mobuild Sdn Bhd in Kota Kinabalu, Sabah for a project worth RM480mil.

“We intend to establish ourselves in East Malaysia so most likely we will use Kota Kinabalu as a springboard to enter other areas (in Sabah and Sarawak),” he says, adding that it also aims to set up an office there.

The developer, which has accumulated 40 years of experience, is able to increase its efficiency, hence it is able to provide value products for buyers. He also says smaller players without much experience lacking in confidence may be left behind in the competition.

“What they do is to enter into a venture with bigger players to leverage on their marketing and networking,” he adds.

As for Bolton, it has established its reputation as a niche developer with notable projects like Tijani in Bukit Tunku, which sits on a 42-acre land it acquired in 2001.

Touted as one of the truly high-end projects, the brand “Tijani”, which means crown in Arabic, has travelled far, and is even known in the Hong Kong market, according to Chan. “So, we decided to take this brand to the other side of the town (to Ukay Perdana),” he says.

The company has noticed a shift in high-end development in the Ampang area since the completion of the Duta-Ulu Kelang Expressway.

Known as Tijani Ukay, the project spreads across a 23-acre leasehold land in Hulu Kelang. The site will house 110 units of zero-lot bungalows and eight units of bungalows with a gross development value of RM300mil.

Scheduled to be completed in 2014, the development will have facilities like jogging track, playground, tennis court, surau, and barbeque area.

Besides these amenities, one of the attractions of the project is its low plot ratio, which ensures that there are lots of greenery, so that residents feel relaxed when they return home.

“The cascading pond is carved out from the natural stream,” Chan enthuses while showing the low-density architectural model.

He says the price for a zero lot unit starts from RM2.4mil while the bungalow costs RM5mil and above.

The serene enclave is located between International School of Kuala Lumpur (ISKL) and Zoo Negara.

“ISKL has a strong following of expatriates and further down is the row of embassies.

“There are empty plots of land around that area which leaves room for growth opportunities.

“We love to be the catalyst for future growth,” he says.

When asked if it is harder to sell properties which are priced above the million mark, he says: “People know that land is getting scarce and expensive so they do not mind payng more for a landed property.”

As a matter of fact, its strong following is evident when 50% of the units were snatched up during Tijani Ukay's preview sales.

When asked if there are concerns about earth conditions at the site as it is in the vicinity of Bukit Antarabangsa, he assures that it is not an issue as there are engineering solutions to address it.

“This (piece of) land is not next to a hill slope. It sits on a gradual piece of flat land.

“To be cautious, we have submitted the calculations to the hill slope committee and they have granted us all the necessary approvals,” he explains, adding that there are no Class III and Class IV slopes on the land.

Class III slope has a gradient between 25 and 35 degrees while Class IV's gradient is greater than 35 degrees.

The project is expected to contribute 15% to 20% to its bottomline for the next two years.

Reviewing 2012, he says the company performed well in the first half while the momentum has been maintained for the second half.

Meanwhile, the breakdown of the buyers are 30% foreigners and 70% locals, he says, he says.

According to him, only 8% of Malaysian properties are bought by foreigners.

“Last time, people like to keep cash but over time, they realise that property is a good investment which is why we see many people putting their money into the property market,” he adds.

Going forward, Chan expects sales for the overall property sector in 2013 to be flattish compared with the bullish days in 2009 to 2011.Demand should settle at a sustainable rate pace which bodes well for developers as “we prefer gradual increase in sale price and volume as compared to drastic ones,” he says.

The expanding Malaysian population will also support the growth.

“We can see the trend of buyers purchasing their properties based on location and developers.

“Good developers are generally more credible and they can deliver.

“Besides that, they have the reputation to produce good designs and quality products,” he adds.

He also says gross margins for players will rationalise. As for their net margins, it should be within the range of low teens.

Come 2013, the industry may face a huge challenge in the form of a shortage of labour.

“The labour challenge comes in two forms: the actual costs and the quality of service.

“The booming development in Indonesia in the last two years has led to a shortage of Indonesian labourers coming to Malaysia,” he says.

He also says the problem is alleviated by hiring labourers from other countries like Bangladesh but it is different because they lack the construction and communication skills that Indonesians have.

“The Indonesians know our system so it is easier to work with them. They are also hardworking and has no problem understanding our language,” he adds.

Cost-wise, he expects material prices to trend upwards.

The Government has reduced subsidies so costs of production for cement and tiles will go up, he says.

“As the world economy is burgeoning, we have to compete for raw resources with giant economies like China and Brazil so we can expect material prices to go up.”

On the minimum wage policy, he opines that the increased salary will allow employers to have higher hiring power, including recruiting talents from the region.

“One of the reasons of human capital outflow is due to low wages so we should not be afraid of it,” he says. - The Star

Bank Negara to standardise housing documents for better understanding

PETALING JAYA: From Jan 1, all commercial banks will be required to adopt standardised documents for housing loans and home financing agreements involving a principal sum of RM500,000 and below.

Bank Negara said the move was to enhance borrowers' understanding of the key terms and conditions of the loan agreements, including comparing such agreements.

It said banking institutions were required to present the key terms and conditions by following a template developed by the Association of Banks in Malaysia in consultation with Bank Negara Malaysia.

“The template describes these key terms and conditions using simplified language.

“This will assist consumers when making comparisons between banks and reduce the risk of borrowers who don't fully understand the contractual terms of their agreements.”

Bank Negara said the initiative was a collaboration between the central bank, Pemudah and the financial industry.

The public can access the template and FAQs at at www.abm.org.my. - The Star

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