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槟政府为岛民献大礼 16依格地建可负担房屋

（槟城29日讯）在执政4年后，槟州民联政府为槟岛人民带来“房屋大礼”，将在槟岛鉴定的16依格作为打造可负担得起房屋，避免槟岛人在屋价飙升上面对逼迁威省窘境。
槟州首长林冠英周日宣布，槟民联政府已在槟岛及威省两地完成鉴定77依格政府地，以推行“可负担得起房屋”计划（affordable housing），其中在槟岛东北部将获10依格地作为此用途，西南区将获5.84依格地建造可负担得起房屋。
77依格地遍布槟威4县
他指出，77依格地中分布槟岛及威省4个县，这也意味，除了较早宣布于威省峇都加湾一片200依格政府地作为可负提得起房屋地后，州政府也在槟岛东北县、西南区、威北及威南另再鉴定土地。其中，在槟岛东北县已鉴定的土地面积是10.21依格，西南区则有5.84依格，这也意味在槟岛将合共有16.05依格作为上述用途，至于威北则有28.9依格，而威中有31.71依格，合共60.61依格。
首长指出，这也是继槟州政府在峇都加湾200依格的州发展机构（PDC）土地建造可负担得起房屋后，将通过政府卖地所筹获的5亿令吉可负担得起房屋基金下，将进行的第二阶段建造可负担得起房屋计划。他也说，在首阶段于峇都加湾建造的1万2000个可负担得起房屋造价，介于7万2500令吉至22万令吉，槟州政府也委任全球最佳的房屋发展公司，即新加坡房屋发展局（HDB）来执行上述计划。- 光华

Mapex Penang rakes in record RM90m

KUALA LUMPUR: Property developers at the recent Mapex Penang 2012 property exposition clinched a record RM90 million in sales.

Themed "The Most Lau Juak Property Show", the property expo showcased the newest property developments in the market across Malaysia.

"The record expo sales figures are testimony that the appetite for properties remained strong and even far exceed expectations in some cases," Real Estate And Housing Developers' Association (Rehda)-Penang Branch said in a statement.

Mapex Penang was organised by iProperty.com Malaysia on behalf of Rehda Penang.
According to the association, IJM's collection of 'The Light' properties were popular among visitors over the three-day expo, with 12 units sold for over RM15 million.

"Magna Putih's Mansion One development was snapped up totaling over RM11 million, with 19 units sold. Land & General also enjoyed brisk sales with 19 units worth over RM11 million sold," it said.

Visitors to Mapex Penang also had a chance to listen to leading property experts talking about sound property investment decisions during the seminar sessions.

Popular among visitors was a presentation by Richard Oon from ConsulNet Tax Services, on tax implications of property transactions. Another crowd pleasure was a session on benefits of buying property from developers by property investment guru, Milan Doshi.

Those interested in foreign investment were given tips and tricks on property investment in Australia by Ameer Abas from OZ Property Group.

Attractive prizes worth over RM70,000 from Deep Living, Signature Kitchen, KaraBest and Korea Wallpaper were awaiting visitors at the exhibition.

Rehda Penang chairman Datuk Jerry Chan Fook Sing said the association has achieved its aim in helping home buyers find their dream homes during the expo.

"I am proud that, together with our partnership with iProperty.com Malaysia, we have once again contributed to the growth of the industry as we saw participating property developers enjoying brisk sales, while connecting with property hunters in Penang," Rehda Penang chairman Datuk Jerry Chan Fook Sing said. - Business Times

Initiatives to assist victims of abandoned housing projects

KUALA LUMPUR (April 24): Housing and Local Government Minister Datuk Chor Chee Heung said the ministry has taken several initiatives to assist victims of abandoned housing projects.

He said the initiatives included providing a verification letter to funding institutions that the projects have been abandoned and assist buyers to discuss how their loans could be resumed after rehabilitation works started.

Such loans would be subjected to the funding institution's valuation and based on the merits of each case but if the buyer is not assisted, a complaint can be lodged with the ministry which would be referred to Bank Negara Malaysia (BNM), he explained.

He was responding to a question from Datuk Mustafa Kamal Mohd Yusoff on the issue of abandoned housing projects.

Chor said the ministry has also proposed for a working paper to be presented to the National Economic Council in order for BNM to recommend ways to assist the victims of such projects if the funding institutions fail to give them due consideration.

"The government takes the matter seriously as the victims could go bankrupt if the situation is not resolved," he said at the Dewan Rakyat, here on Tuesday.

Chor further remarked that the government would also take steps to prevent housing projects from being abandoned by amending the Housing Development Act (Control and Licensing) 1966 (Act 118).

He added that the government and related parties in the industry were discussing holistic ways to best implement the build and sell system.

"We hope the system can be finalised with all affected parties by 2015," he said. — Bernama

Zeti: No intention to review new guidelines on responsible lending now

KUALA LUMPUR (April 25): Bank Negara Malaysia (BNM) has no intention to review its new guidelines on responsible lending for the time being, Governor Tan Sri Dr Zeti Akhtar Aziz said on Tuesday. "Whatever needs to be resolved will be through bilateral discussion. Right now we have no intention," she said when commenting on reports that the guidelines would be reviewed. BNM's recent lending guidelines, effective Jan 1, stipulates that loans would only be approved based on net income and not gross income as previously practiced. The new guidelines was aimed at managing household debt in Malaysia at reasonable levels. Many parties in the automotive industry were not happy with the guidelines and attributed the drop in vehicle sales to the implementation of the guidelines. Zeti said it would not be right for some automotive players to blame the guidelines for the dip in vehicle sales. "I don't think that would be correct... because our guidelines are to ensure that the borrowers are in a position to take on increased debt and this is important. "It would not be of any use if the borrower cannot pay the debt and the car is repossessed. We want those who have the capability to take on (debt)," she said. As such, she said the guidelines ensured Malaysia's household debt and the quality of debt remained positive. In addition, Zeti said the country's non-performing loans were declining. She also said sales of vehicles had to be based on comparative advantage such as cost of effectiveness, model designs and innovation that the automotive companies had undertaken. "All these will help them. And, also it is obvious that the Malaysian market at some point will become highly saturated. It is already saturated in terms of car ownership," she added. Zeti said it was important for automotive players to be highly competitive and export their vehicles overseas. —Bernama

 

Serious home buyers undeterred

KUALA LUMPUR (April 27): Government measures to curb speculative property buying have been rather effective. The reintroduction of the 5% real property gains tax, the limit on loans for a "third house", and the more stringent lending policies imposed by banks have caused some buyers to postpone their purchases. It is interesting to note that serious homebuyers have not been deterred from signing sales and purchase agreements. "Buying activities are affected by the new lending policy guidelines implemented by Bank Negara Malaysia. Speculation has slowed down because buyers are now required to put a higher down payment for new launches," said Sunway Group property development division COO Daniel Lim. He added that serious investors and home- buyers are still buying properties in prime and potential areas. Good location, connectivity, track record of developer and affordable price tag are what purchasers will look at in the current environment. Landed homes and small office home offices (SoHos) seem to be the trend. High-rise homes in suburban areas that offer good connectivity and affordable price tags are also in demand. Properties in growth areas within the affordable price range will continue to dominate the market in the near future, Lim said. CB Richard Ellis (M) Sdn Bhd executive chairman Christopher Boyd believes that the correct investment strategy is to think long term. "We must look 10 years ahead. Don't buy on price alone; low and medium low cost units are cheap but they do not offer much upside in the long run. Regrettably the most distressed properties also fall into this category." He said the key to getting a good capital appreciation is to buy what people want. "Right now property with a good level of security is favoured. People are also looking for ease of access and local amenities such as mass rapid transit and the light rail transit. Pick well and your capital values will probably double," said Boyd. Malaysia Building Society Bhd CEO Datuk Ahmad Zaini Othman believes that demand for different types of properties varies in different parts of the country. "High-rise residential units with value below RM500,000 are in demand in big cities like Kuala Lumpur and George Town while landed residential properties below RM500,000 are taken up in the smaller cities," he said. SoHos are in demand by young urban customers due to their affordability and location, Zaini added. "The buying crowd is usually made up of single professionals." Buyers are advised to consider established developers with good track records and financial standing as they usually continue to reinvest in their own developments. Lim, Boyd and Zaini will share their views further in a panel discussion — "Buy now or wait?" at The Edge Investment Forum on Real Estate 2012 on Saturday at the Sime Darby Convention Centre in Kuala Lumpur. - The Edge Property

 

Mulpha sells Jalan Sultan Ismail land for RM3,300 psf

KUALA LUMPUR (April 27): Mulpha International Bhd disposed of a 0.72-acre (31,516 sq ft) tract in Jalan Sultan Ismail, Kuala Lumpur late last year for RM104 million. This works out to RM3,300 psf, a benchmark price for development lands in Kuala Lumpur city centre.

The site was originally slated for a proposed Grade "A" office building initially dubbed Menara Mulpha.

It is believed that the tract was sold to a company with links to Penang-based Monoland Corp Sdn Bhd and CA + Associates, which has  several notable projects in Penang such as The Cove and Central Park.

The sales and purchase agreement was signed late last year and came with an approved development order. The land was owned by Menara Mulpha Sdn Bhd.

There is a premium attached to the sale as it comes with an approved development order, enabling the developer to construct immediately.

Hence the high price of sale, said a real estate consultant.

The low profile CA + Associates appeared on the KL property development scene not too long ago with several notable developments including Vipod Residences and Quadro Residences, both in Kuala Lumpur city centre (KLCC).

According to Sarkunan Subramaniam, executive director of Knight Frank Malaysia, the latest comparable transaction was Dijaya Corp Bhd's purchase of three adjoining tracts in Jalan Sultan Ismail at RM2,400 psf with similar zoning and plot ratio. The deal was transacted around the same time as the Mulpha deal.

Prior to this, two notable transactions in the vicinity were the acquisition of the 1.59-acre Wisma Angkasa Raya (land and building) by Sunrise Bhd in 2008 for RM2,588 psf and the acquisition of a 0.66-acre tract in Bukit Bintang for a record RM7,209.80 psf by Urusharta Cemerlang (KL) Sdn Bhd from CDL Hotels (M) Sdn Bhd, a member of London-based Millenium & Copthorne Hotels Plc.

"In my opinion, you can't take the RM7,209.80 psf sale into account as it is an exception. So, the price of RM3,300 psf can be considered a record," said Sarkunan.

Based on previous reports, Mulpha acquired the tract in 1996 for about RM1,000 psf and had plans to build a 23-storey Grade "A" office building with a lettable area of about 270,000 sq ft and an estimated gross development value of over RM350 million.

Sarkunan believes that future land sales with approved development order will be pushing the RM3,300 psf level but tracts without, will still hover around the RM2,300 to RM2,600 psf.

"The acquisition is a real show of confidence in the KLCC office market at a time when there are concerns of oversupply of office," said Sarkunan.

KLCC currently has a supply of 46.75 million sq ft of office space with another 4.87 million under construction. - The Edge Property

Affordable lifestyle yet enriching Customer comes first, pledges Trinity MD

TRINITY Group Sdn Bhd wants to promote its brand of lifestyle living at an affordable cost to a broader market in the Klang Valley, Penang and Johor.

Managing director Datuk Neoh Soo Keat says the Klang Vally-based developer's aim is to build property projects that offer lavish high-rise living at affordable prices.

Currently, Trinity's projects are all located in the Klang Valley and Neoh is on the lookout for strategic land in the growth markets of Penang and Johor.

At its Z Residence project in Bukit Jalil, comprising four blocks of 26 and 27 storeys of 1,136 service residences, the units were sold at average prices of RM340 to RM380 per sq ft. The RM500mil project has been fully taken up since its launch last April.

Neoh says all the elements of the project are crafted to enhance the lives of residents.

Neoh says despite the affordable pricing, residents can look forward to a combination of recreational and lifestyle facilities that include a floating garden surrounded by water courtyards, a 180-ft infinity pool, and panoramic sky lounges perched at 430 ft above ground level atop every condominium tower.

Up to 50% of the development has been reserved for green lungs and relaxation corners.

“All the elements of the Z Residence's design are crafted to enhance and enrich the lives of residents and the greater community it serves.

“The development aims to introduce a wholesome urban lifestyle to the medium-end housing market. We are dedicated to enriching the lives of our customers as our customers are at the centre of everything we do,” Neoh shares with StarBizWeek.

To achieve the highest quality standard for its project, he says Trinity has recently appointed Putra Perdana Construction Sdn Bhd (PPC), a unit of Putrajaya Perdana Bhd, as the main contractor for Z Residence.

Neoh says PPC is the first construction company in the country to be awarded with the 5-S Certification by SIirim-HK5SA, adding that PPC's competency in construction and high standards of quality and efficiency are in line with Trinity's commitment to deliver up-to-date and high-value products.

The company hopes to record a quantum jump in sales this year to RM640mil against RM230mil achieved in 2011.

Trinity has undeveloped landbank of 23.36 acres and another 12.5 acres that are currently under construction in the Klang Valley.

Its landbank include five acres in Serdang worth a potential gross development value (GDV) of RM300mil; 8.65 acres in Bukit Antarabangsa (RM700mil); three acres in Melawati (RM180mil); three acres in USJ19 (The Latitute@USJ19 worth RM200mil); and 3.71 acres in Seri Kembangan.

The Seri Kembangan land will be developed into The Zeva comprising a mixed development of 446 service apartments, 320 studio units and 12 shop offices. The project, with GDV of RM250mil, will be launched on May 18 for completion in 2015.

The studio units with built-up of 455 sq ft to 638 sq ft are priced from RM200,000; serviced suites of 881 sq ft to 1,205 sq ft are from RM350,000; and shop offices from 5,697 sq ft to 12,221 sq ft are from RM2.8mil.

In keeping with Trinity's trademark of lifestyle living, all the residential blocks will be naturally ventilated with generous corridor and a sky garden at each alternate level.

Neoh says Zeva is set to bring a fresh and dynamic change to the skyline of the gradually aging Seri Kembangan township.

“The project will provide a refreshing break from the mundane and monotonous architectural landscape in this established and matured township.

“Zeva's modern building facade with strong linear lines will complement the development of this place without taking away the charm that this town is associated with. The street mall on the ground floor of the development is envisioned to be vibrant and lively with a good mix of F&B outlets, offices and retail shops that will offer a refreshing lift to this area,” he adds. - The Star