Tuai Residence @ Setia Alam. 330 units starting from RM490,000.

Press Release:
SUNTRACK BELIEVES MULTI-ABILITY, MULTI-GENERATIONAL, INCLUSIVE HOMES ARE THE NEW NORM

Young Families, Seniors and Differently-abled Celebrated With Purposeful Designs & Spaces At Tuai Residence
 @ Setia Alam

Setia Alam, 23 September 2020
 – Award-winning property developer, Suntrack Development Sdn Bhd, unveiled its latest project Tuai Residence @ Setia Alam today. The 330-unit condominium project with a gross development value of RM194 million was designed with a strong emphasis on
safety
 for children and the elderly,
accessibility and independent living
 for all ages and abilities, and
community building
.

“The Covid-19 pandemic has certainly brought some basic, yet crucial issues to light. For example, we all now know how it feels to be isolated and restricted to the confines of our home. This is often the fate suffered by seniors and the differently-abled in our community, due to limitations in the access to facilities as well as a lack of communal spaces. Sadly, the ecosystem generally doesn’t supports them and the inaccessibility stifles their ability to be productive and active members of society,” Suntrack Chief Executive Office, James KK Tan explains.

After almost three years of research into limitations in accessibility at homes, Tuai Residence was crafted with great attention to detail for an inclusive environment and is one of the rare developments in the country with total application of
Universal Design (UD)
. The development’s designers were advised by UD expert,
Associate Professor Dr Naziaty Binti Mohd Yaacob
from the
 Faculty of Architecture, University Malaya
.

As a result, specific bedrooms and toilets within each condominium unit in Tuai Residence are designed with spaces large enough to cater for wheelchair turning radius. Other UD features include 900mm wide clear doorways in common areas and designated doorways inside units, ramps to access carparks, large electrical switches at 1200mm height, and tac tiles on floors in common corridors, amongst others.

In addition, Tuai Residence @ Setia Alam maximised safety precautions by designing fire sprinklers into common areas and inside each unit to start firefighting efforts before BOMBA arrival, another rare feature in residential developments. Every floor is equipped with protected fire refuge areas, for those unable to run down the stairs, to converge in while waiting for rescue efforts. Fire staircases are also designed for stretcher-use.

Tuai Residence goes the extra mile to cater to the wellness needs of the community by having a Care Office on site, manned by a registered nurse and trained caregivers for medical emergencies from its
collaboration partner for the development, CALITY CARE, an Australian company providing Australian standard home-care
. Care Office staff are trained of First Aid, Cardiopulmonary Resuscitation (CPR) and Automated External Defibrillator (AED) for emergencies management before the arrival of an ambulance. Cality Care also provides home care from low to high care for our residents, on separate charges.

Notwithstanding these well-thought-out features designed to provide residents with
peace of mind
, Tuai Residence aims to promote community building and encourage inter-generational friendships between young and old residents. In fact, the name Tuai is a nod to rice, a staple in Asian households of all races, a symbolic reference to days of old when communities came together to celebrate harvest festivals and cultivate long-lasting bonds.

Tuai Residence’s facilities aim to encourage communal activities such as line dancing, tai chi, communal cooking, group yoga and community gardening. The development is designed with a Clubhouse for get-togethers, generous numbers of meeting and multi-function rooms, swimming pool and gymnasium, multi-sports hall for badminton, ping pong and basketball as well as communal herb gardens and a communal kitchen. The activities will be managed by a dedicated Tuai Community Manager.

Suntrack is extremely proud of the Tuai Residence @ Setia Alamconcept; which is in keeping with the company’s vision to build MAGIC communities (
MAGIC is a term coined by American gerontologist, Dr Bill Thomas that means Multi-Ability, multi-Generational, Inclusive Communities
). James explains that it is a vision that was conceived from a desire to carve a niche in Suntrack products moving forward, and his own passion to build homes where the elderly can safely and independently age-in-place and where no one needs to be displaced at different stages of their lives.

Having previously won the prestigious FIABCI award for residential high-rise in 2019 for Kanvas SOHO@Cyberjaya, James is confident that Tuai Residence too can be a development that is appreciated for its unique design intent.

Tuai Residence @ Setia Alam’s 330 units of condominiums will be developed on 6.6 acres of freehold land, making it a low-density development at 50 units per acre. It is expected to be completed in 2023. Affordably priced for young families and the elderly (starting price from RM490,000 onwards or from RM450 per sq ft) for units ranging from 1,109 sq ft to 1,927 sq ft; Tuai Residence is located next to one of the most well-planned and landscaped townships in Eco Ardence, Setia Alam.

Tuai Residence homeowners’ will benefit from Setia Alam’s mature township with options for grocery shopping or leisure at Setia City Mall and Tesco Setia Alam located just a short drive away as well as many schools and hospitals (both private and public) within its vicinity. The development is also highly accessible via the New Klang Valley Expressway (NKVE), Shapadu Highway and the Guthrie Corridor Expressway.

Learn more about multi-generational and multi-ability living at Suntrack Tuai Residence via
www.tuai.my
. For enquiries, email
sales@suntrack.com.my
 or call +6011 2222 8000 / +6011 2222 9000.

— end of press release —

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[Sponsored Review] 9 things about Tuai Timur as a PERFECT property for someone

I bought my first property in 2003.  It was an apartment with facilities. Swimming pool, gym and the usual. One main reason I bought it? I could afford it and it met many of my expectations. Wait a minute. MANY of my expectations? Why not ALL my expectations? Why not buy the PERFECT property as my first property? Some would say why not buy the DREAM home? Great thoughts indeed. Time to wake up to the reality and really enjoy what we are buying as our home sweet home.

Always AIM at the perfect property! (my 20 years of buying high-rise units as below)

If it’s a perfect property which everyone likes, majority will fail to buy it because prices would have been pushed up so high because demand would far outstrip the limited number of units available. Let’s assume the perfect property we are talking about is 330 units within the whole development of 6.6 acres. (around 287,000 sq ft or roughly 5 football fields.) Have you tried running from one end to the other end of 5 football fields? 😊

#1 – Perfect for people who loves / NEEDS to walk daily

In the world of strategy, when there is a threat, there is also an opportunity. After parking the car, Tuai Timur owner would have to walk along a 45m covered walkway to the building where the residence units are located. How far is 45m? It is roughly 100 steps depending on how big our every step is. Thus this may seem like a slight inconvenience but it’s also a great opportunity too.

My doctor says running is not good for my knees now that I am just 4 years away from 50. However, he says sitting down the whole day is even worse. He recommends that I walk something like 10,000 steps a day. From my car park to my front door, it’s roughly 50m. I could only hit the required 10,000 steps if I do more than just walking to the car park and back to my unit. From my first property in 2003 till today, I have stayed in high-rise units. 😊

Tuai Timur – Link Bridge

#2 – Perfect for people who prefers a mature township

Tuai Timur is located in Setia Alam. It’s not easy to get a more mature township than Setia Alam. So, if you must have a regional mall just 4km away, Tuai Timur fits the bill. It’s impossible to have a view of a secondary forest behind your condo and a view of a natural river in front of your condo.

If you prefer to be able to send and pick up your children from an international school, Tuai Timur is just 4.4km away from Tenby Schools.

If you love that weekly badminton session with friends or even your wife and her friends, Tuai Timur is just 5km away from Setia Alam Badminton Arena.

Sometimes, we need to drive a little to find a petrol station. As this is a mature township, refueling is super easy too. Petrol stations could be found all within the surrounding areas.

Tuai Timur is within a mature and established neighbourhood

Occasionally, if you like to just walk in a much bigger park with a lake, the Setia Alam Central Park is a mere 2.5km away. Here’s one review comment for it from online. “You may get fresh air, free gym and playground, great sweat with big smile here! Very much enjoy!”

Just need to also note that mature townships also meant that the population is big enough to accommodate all these shops, schools, malls and more. Any new township would not have enough population to support much economic activities. It’s always a balance yeah.

Living Room for show unit Type A

Living Room for show unit Type B

#3 – Perfect for working professionals with hybrid working mode or even those who are not working

The brochure says it takes 30 minutes to reach KL city. Let’s be honest. This is a mature township. Every day, there would be a big number of cars going to KL city. It will definitely take longer than 30 minutes which would work only when it’s not during peak hours. Therefore, one has to be prepared for the potential traffic jams if one has to travel to KL city every day.

However, if it’s hybrid working mode and the time is flexible, then one would enjoy the best of both worlds. A well-designed home in a mature township which is 30 minutes away from KL city on non-peak hours.

Dining area for show unit Type A

Dining area for show unit Type B

#4 – Perfect for someone who likes more space and a wheelchair friendly unit

Tuai Timur applied Universal Design (UD) for the design of the whole development. For the unit, as Tuai Timur was designed with wheelchair access width and spaces, this meant that as soon as step into the unit, we could feel the extra space. We step into the bathroom, the kitchen and going into the rooms, it gives us that extra space advantage. The reason is because Tuai Timur was designed so that even wheelchair users could turn. These extra thoughts are advantages for everyone and not just buyers who likes to ensure the unit is wheelchair friendly.

Beyond just the extra space, Tuai Timur has also included other UD applications such as anti-slip tiles (this is a super important feature for everyone, not just the elderly), ramps at the doorways & entrances, and the use of lever type of locksets and sanitary fittings.

Swimming pool is designed to prevent accidental fall

These are not all, the raised swimming pool is designed as such to prevent accidental fall and the playground is also fenced for the added security to children.

UD design meant that it caters to people with diverse abilities, makes it simple and intuitive to use, requires low physical effort and even appropriate size and space for approach and use and more

Bedroom 1 for show unit Type A

bedroom 1 for show unit Type B

#5 – Perfect for families with / planning for children

My son used to hate his elder sister because the elder sister prefers the main pool while he prefers the kiddie pool. Meanwhile I love to accompany them because I know they grow up very fast.

Tuai Timur clubhouse

Tuai Timur has wading pool, water splash pad, fenced playground, treehouse and children’s playroom. For families with young children, they would outgrow these child-friendly features one day. However, for the few years which they enjoy it, it would be a great family time and all of these within a safe environment. At the same time, these facilities are ready for future babies too!

Bedroom 3 for show unit Type A

Bedroom 2 for show unit Type B

#6 Perfect for that peace of mind on potential fire and safety emergency

Many years ago, I asked this question to the sales person. At the time, I also thought it’s a foolish question. “Is there fire sprinklers inside the unit?” The sales person smiled and said that fire sprinklers only available in common areas. Hey, now I know my question is not so foolish. 😊

In Tuai Timur units, fire sprinklers are located not just in common areas but it’s also already built within the unit itself. The fire escapes are also stretcher-accessible and there is also a protected fire refuge area on every floor too for wheelchair users and seniors to wait for rescue. Let’s wish we do not need to use this but it’s good planning to have it ready.

#7 Important fact about density, not just low or high density

Many years ago, a friend who was staying in a 500-unit development told me that my condo was high density because there were 700 units. My friend’s 300-unit development was 42 floors. If I am a visitor, there are just 6 visitor car parks right. A visitor could only drive to the lobby, make a turn to go back to the exit. The developer built that condo within a small piece of land.

Layout for Unit Type A

Layout for Unit Type B

When we look at the density, please remember that it also depends on the size of the whole development. It would also determine the kind of facilities which could be built for the development. If there are too few units, not only would the number of facilities be just a few but the maintenance fee is likely to be high because it is shared by far fewer units.

Tuai Timur has 330 units and the total land size is 6.6 acres. When we browse through the number of facilities we would realize that this is a very balanced number of units as it allowed the development to have many important facilities. Too few units and the number of facilities would have to be reduced or the maintenance fees per unit would be very high. In fact because of the availability of land space, Tuai Timur has facilities such as a communal farm, a communical kitchen /dining, open lawns, pocket gardens and more.

#8 A good development will have good price appreciation

When we look at Setia Alam, we will definitely be comparing some landed developments at similar price range to Tuai Timur and we would then think that landed is better than high-rise. There’s no right and wrong and there’s very little need to debate. If one prefers a landed because the car can be parked right in front of the main door, a high-rise unit would never have this flexibility. However, if someone prefers a high-rise because it has a club house with many lifestyle facilities, then a typical landed property without all these facilities would not be a choice too.

However, if we are to look at just capital appreciation alone and thinks only landed has capital appreciation, then we are mistaken. Below are the actual median house price index for typical property types from 2010 all the way to Q2 2021. Landed Terrace has more than doubled in price but the high rise has nearly doubled in price too. This is also the reason why I am a fan of high-rise units and today own high-rise units across 6 cities and towns in Malaysia.

Info Source: NAPIC

#9 Perfect when the developer chose to build based on quality

This is what QLASSIC stands for. “Quality Assessment System for Building Construction Works is an independent method to access and evaluate primarily on the quality of workmanship and building projects based on the standards.”

QLASSIC is not compulsory for developments. This is because it is above and beyond the usual standards for typical developments. Tuai Timur chose to adhere to QLASSIC STANDARD and assessment. Briefly, the developer would have to construct Tuai Timur to fulfil the QLASSIC standard. This will provide peace of mind to buyers because this is above many developments without such a standard.

Conclusion

I have owned high-rise units for the past 20 years and have enjoyed moving 3 times; from one high-rise to another. The main reason was because every new high-rise has something which I liked more than the previous one. Maybe it’s the size (50% bigger than my current one), maybe it’s the design (A lot more greens), maybe it’s the location (walking distance to a mall) and maybe it’s the facility! (comes with a squash court).

I change, we change, the world changes. Design trends change. Lifestyle changes. This is why at this moment, when we are buying a property, look at all the qualities which we like and then we decide if that’s something we really want. 😊

Any decision about something which involves many hundreds of thousands of ringgit or higher would need to be both logical and emotional. Happy visiting Tuai Timur and decide after understanding enough.

Here’s
the link to Tuai Timur’s e-Brochure too. (link)

Visit Suntrack’s Facebook Page here:
 https://www.facebook.com/suntrack/

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Tuesday – 1st April 2014 – MyHome Scheme opens

This is a scheme whereby the government would provide a RM30,000 incentive for each affordable house. The developers may build the units and every unit would receive a subsidy of RM30,000. The government has set aside RM300 million for this scheme which will enable the allocation for 10,000 units of affordable homes nationwide. What’s in it for the developers? Well, under the scheme, qualified private sector developers will receive an up front incentive of RM30,000 per affordable home sold.

What’s the catch? I think it is ok. A 10-year moratorium would apply. This prohibits a buyer from re-selling or transferring ownership of the home. However, ownership transfer to immediate family members are allowed. Interested buyers must be Malaysians aged 18 years old and above. They should also be buying a property for the first time. Sounds reasonable. All qualified buyers will be reviewed by the ministry and a selection will be done through a balloting process. I think this is based on availability and the number of applicants for the same unit.

Who will benefit? There are two categories. MyHome1 is open for households with an income of between RM3,000 and RM4,000 while MyHome2 would be for those with a household income of between RM4,001 and RM6,000.

Types of homes? Houses under the MyHome1 would cover a minimum of 800 square feet of space with a market price of between RM80,000 and RM120,000 in the peninsula and between RM90,000 and RM120,000 in Sabah and Sarawak. MyHome2 prices would range between RM120,001 and RM200,000 in the peninsula and between RM120,001 and RM250,000 in Sabah and Sarawak for homes measuring a minimum of 850 square feet.

If you have interest and is qualified, do submit your applications online here:
http://ehome.kpkt.gov.my
.

written on 29 March 2014

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Chill, this is not Tun Daim’s comments

Someone told me about Tun Daim’s comments about the impending bankruptcy of Malaysia due to the ‘worthless’ ringgit in September. The person also said the best would be to move whatever Ringgit I have into other currencies or out of Malaysia to save what I still have. I replied honestly, ‘I only have money within Malaysia today.’ Yes, I pro-actively hedge against all these potential issues with loss of value but I do not think I will be taking any drastic actions currently.

I hope I am right in believing the things I believe in, including the many economists, BNM, the three international rating agencies, the analysts from foreign and local banks and even International Monetary Fund and World Bank. None of them have been saying what was reportedly said by Daim. I told the person that I am not sure if Daim would say that because I still consider him a much better banker than majority of all the CEOs of the banks today.  Here, read a bit about him.
http://www.daimzainuddin.com/about.php
Fortunately, a check revealed that the news was a fake one. Hopefully my money is still safe?

Oh yeah, very importantly, where investment is concerned, I do not believe anything that the politicians say. Not just one side but from both sides. I think I know very slightly more than majority of them. That’s why they are politicians and I am just an ordinary Malaysian. Happy believing, no matter what your belief is.

written on 5 Sept 2015

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Turning dreams into reality. Well, dream something realistic.

When I was just starting my job after my graduation, I wanted to rise up the career ladder, fast. (Who does not?) In my first company, I learnt that one is usually promoted every 3 years, if one was performing very well. Else, it’s 5 years or more. I think career wise, it has been pretty okay for me thus far, after working for 19 years. In terms of investment goals however, I am still quite a distance away from what I hope to achieve before I retire. However, based on a working professional basis, I think I am slightly above average. So, perhaps a little sharing so that every working professional can also start to look at investment as compulsory and not as something out of the ordinary or wait till they
save enough money. (which usually does not happen anyway)

Short term enough. It should be something we can start almost immediately. Start saving? If we intend to invest into something, make sure we do it asap. Fixed Deposit? Put in a meaningful sum and keep saving till we have sufficient funds to last us 6 months should we lose our job. Start to read about investments. Anything we can get our hands on. Many free stuffs today. Go for talks during property shows. All these could be done almost immediately and will push us up in terms of knowledge and readiness. For short term, it’s all about activities that we do. Set a goal, sure but this should keep changing because we should not set a goal too high which paralyses our actions. Thus, set a goal, hit it and set another one quickly.

Long term enough. It will have to be an asset that we invest in. Since you are reading kopiandproperty, it should include property. Buy it for the long term. Buy one for every kid we have. Buy it so that we have a place to sell off when we retire and wants to travel the world. Of course, have an idea what property we NEED. Read more, understand more. Homework starts at least 6 months before you should buy.
 Answer the WHY and not the Where.
 By the way, those over a million ringgit property in the PJ area, the buyers bought them a very long time ago….  If you buy a stock which has a good business and a good management, it will continue to appreciate too. Read how Warren Buffet chooses stocks.
Learn from stock gurus too.

Just about enough. Do not wait too long before we start.
Money is for investment. Not for spending.

One example. If we could qualify for the home loan but will definitely struggle, then rent out the extra rooms if needed to reduce the mortgage payments. Another example. If we could hold on to the handphone for 3 years instead of three models in three years, that’s easily RM9,000 of savings. (If it’s either the S or the I). More examples but I hope we do the right things and things will be alright. If we do the wrong things, after a few years, we may wonder what went wrong.
If we love to blog, it can even be a career. It will take many years of course.

Happy thinking about our future because no one else would be thinking about it for us.

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written on 20 Aug 2017

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Turtles, corals, water features, Your home

There are many projects in Penang which is above RM1,000 psf. I have only been to a few of them including E&O’s Seri Tanjung Pinang in Tanjung Tokong and IJM’s The Light, right next to the Penang Bridge. Somehow, I happen to have a few very rich friends though I am very far away from being able to afford one of these two projects. It’s ok, they say your network is important. I will keep all these friends. Haha. Today, we will talk about a project which I think is pretty unique in Penang. It’s right next to the first bridge and it was not there when I first moved to Penang 16 years ago. Today, you see it clearly everytime you are driving into the Penang Island. In a few more years, you will see it even more clearly as the construction is continuing. Yes, it is IJM’s The Light Collections. The below is from a close friend who was there just few days ago. I think she is objective enough, thus here’s the sharing.

“Fancy waking up and walking to your balcony and watch turtles swimming past right in front of you? There are also over 10 baby sharks currently. How about arriving home, with a touch of button you know who had dropped by when you were not around? Or even catch a movie ONLINE within a split second of switching on your 50 inch LED TV? These are just some of the luxuries that you would have if you are willing to get a unit in The Light Collections. Besides just the usual quality finishings, it has a unique ‘sea around you’ concept. Truth is, you can’t be swimming in the sea outside your home but how about having corals within your common compound? I think this is a concept which is not available in any project in Penang thus far. Kudos to the designer who came up with this, whoever the person may be.”

You can see my close friend was clearly enchanted with the place and I think I would be as well if I was the one walking around and seeing the turtle swimming past me few feet away. Another friend suggested why not put in a salt water baby crocodile? Actually there are no issues with baby crocodiles. The only problem is, babies may grow to be big crocodiles. Haha. Okay, jokes aside, if you are thinking of luxury and you have earned your worth, then it’s worth viewing and thinking about getting one in The Light Collections. According to Mr. Toh, the GM who brought my friends around, as a project, he may not even completely finish this before he retires. Mind you, if you know Mr. Toh, he is energetic, vibrant and still look very young for his age. According to him, there are still a world class convention centre, hotel and even more commercial developments too within this reclaimed piece of land in the Pearl of the Orient, Penang. I just could not afford one at this moment.

written on 12 June 2014

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Press Release:  Two Awards Become the Number One in Malaysia to Celebrate the Hallmark of Real Estate Excellence

PROPERTYGURU.COM.MY AND iPROPERTY.COM.MY JOIN FORCES TO RECOGNISE AND HONOUR THE COUNTRY’S BEST DEVELOPMENTS, DESIGNS AND DEVELOPERS

The 9th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my are now open for eligible entries and nominations
100 categories are open to be judged by the most respected panel of real estate experts in the country
People’s Choice Awards will be presented to top-voted developers
Highly anticipated in-person gala dinner is set to take place at the historic Majestic Hotel Kuala Lumpur on 18 November 2022

KUALA LUMPUR — 10 June 2022

Malaysia’s top two leading property portals have launched the 9th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my, bringing together the nation’s most respected awards programmes to set a new single benchmark for excellence in Malaysian real estate.

The good news comes as PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading proptech company, integrates and combines forces with premier property portal iProperty.com.my, capturing 90 percent of the property market and connecting developers and agents with the largest base of high-intent property seekers.

The 9th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my will be judged by an 18-strong panel of top property industry experts with categories covering residential, commercial and industrial properties, as well as architecture and design awards. The prestigious accolades will also include the coveted People’s Choice Awards, as voted by Malaysian property buyers, plus special recognitions and titles.

“We are proud and excited to launch this new combined awards programme in Malaysia to set a credible Gold Standard in real estate development and design, endorsed by the country’s most trusted property advisors,” said Jules Kay, general manager of PropertyGuru Asia Property Awards and Events.

“The PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my are also an important part of the well-established PropertyGuru Asia Property Awards series, which covers 12 countries and provides a platform for developers to stand shoulder-to-shoulder with their international peers to be crowned the Best of the Best in Asia,” Kay added.

The revamped awards programme will honour the Winners at the exclusive gala dinner and ceremony on Friday, 18 November 2022, at the historic Majestic Hotel Kuala Lumpur, the official venue of the Awards. The highly anticipated ceremony will be staged according to updated health and hygiene protocols in the Malaysian city.

Key dates for the 2022 edition:

30 June 2022 – Entries Close

1 July 2022 – Long list announcement

11-24 July 2022 – People’s Choice Awards voting period (independently verified by PwC Malaysia)

26-28 July 2022 – Live Judging Days
[MP1]

18 November 2022 – Gala Dinner and Awards Ceremony in Kuala Lumpur, Malaysia

9 December 2022 – Regional Grand Final Gala Event in Bangkok, Thailand

Nominations from the public and official entries from eligible companies are currently being accepted here:
AsiaPropertyAwards.com
.

One-hundred categories are open in 2022 where one winner per category will be selected from the long list. Eligible companies and projects from all regions in Malaysia may vie for 76 categories, including Developer, Development, Design and Special Awards. Up to 24 award categories honouring regional achievements in Central, Southern and Northern Malaysia are also at stake.

The following categories are now open to eligible nominees and entrants
:

DEVELOPER AWARDS

Best Developer

Best Developer (Central Malaysia)

Best Developer (Southern Malaysia)

Best Developer (Northern Malaysia)

Best Developer (East Malaysia)

Best Boutique Developer

Best Affordable Homes Developer

Best Lifestyle Developer

Best Commercial Developer

Best Township Developer

Best Industrial/Logistics Developer

Best Breakthrough Developer

Best Mixed-Use Developer

Best Hospitality Developer

Best Luxury Developer

People’s Choice Award – Top 10 Developers

RESIDENTIAL AWARDS

Best Mega Township Development (over 500 acres)

Best Mid-Sized Township Development (up to 500 acres)

Best Waterfront High-Rise Development

Best Waterfront Landed Development

Best Smart Home High-Rise Development

Best Smart Home Landed Development

Best Integrated WFH Development

Best Investment High-Rise Development

Best Investment Landed Development

Best Wellness Lifestyle Development

Best Health and Wellness Development

Best Lifestyle High-Rise Development

Best Lifestyle Landed Development

Best Connectivity High-Rise Development

Best Connectivity Landed Development

Best Secure Landed Development

Best Secure High-Rise Development

Best Value High-Rise Development

Best Value Landed Development

Best Eco-Friendly High-Rise Development

Best Eco-Friendly Landed Development

Best Completed High-Rise Development

Best Completed Landed Development

Best High-Rise Development by Overseas Developer

Best Landed Development by Overseas Developer

Best Branded Residential Development

Best Reconstruction Project Development

COMMERCIAL AWARDS

Best Retail Development

Best Hotel Development

Best Mixed-Use Development

Best Office Development

Best Industrial Development

Best Smart Building Development

Best Commercial Green Development

Best Eco-Friendly Commercial Development

DESIGN AWARDS

Best High-Rise Architectural Design

Best High-Rise Interior Design

Best Landed Architectural Design

Best Landed Interior Design

Best High-Rise Landscape Architectural Design

Best Landed Landscape Architectural Design

Best Commercial Landscape Architectural Design

Best Co-Working Space

Best Clubhouse Design

Best Hotel Interior Design

Best Hotel Architectural Design

Best Office Interior Design

Best Retail Architectural Design

Best Township Masterplan Design

Best Mixed-Use Architectural Design

Best Co-Living Development

SPECIAL AWARDS

Best of Malaysia: High-Rise Development

Best of Malaysia: Landed Development

Best of Malaysia: Township Development

Special Recognition in ESG

Special Recognition in Sustainable Design & Construction

Special Recognition for CSR

Real Estate Personality of the Year

Rising Star Award of the Year

Visionary Developer of the Year

Consumer Game Changer of the Year

AWARD CATEGORIES – REGIONAL

CENTRAL (KL, SELANGOR, PAHANG)

Best Luxury Landed Development (Central)

Best High End Landed Development (Central)

Best Mass Market Landed Development (Central)

Best Luxury High-Rise Development (Central)

Best High-End High-Rise Development (Central)

Best Mid-End High-Rise Development (Central)

Best Mass Market High-Rise Development (Central)

Best Township Development (Central)

SOUTHERN (JOHOR, MELAKA, NEGERI SEMBILAN)

Best Luxury Landed Development (Southern)

Best High-End Landed Development (Southern)

Best Mass Market Landed Development (Southern)

Best Luxury High-Rise Development (Southern)

Best High-End High-Rise Development (Southern)

Best Mid-End High-Rise Development (Southern)

Best Mass Market High-Rise Development (Southern)

Best Township Development (Southern)

NORTHERN (PENANG, PERAK, PERLIS, KEDAH, KELANTAN, TERENGGANU)

Best Luxury Landed Development (Northern)

Best High-End Landed Development (Northern)

Best Mass Market Landed Development (Northern)

Best Luxury High-Rise Development (Northern)

Best High-End High-Rise Development (Northern)

Best Mid-End High-Rise Development (Northern)

Best Mass Market High-Rise Development (Northern)

Best Township Development (Northern)

Nominees and entrants will undergo a fair, transparent, ethical judging process, under the helm of HLB as the official supervisor of Awards. The independent panel of judges comprises highly respected, renowned industry leaders in real estate, consultancy, architecture & design, finance, legal, and related fields. They include Dato’ Sr Lau Wai Seang, president of the Royal Institution of Surveyors Malaysia (RISM): 2017-2018 and chairperson of the judging panel, and Chris Tia, principal and managing partner of Tia & Noordin and vice-chairperson of the judging panel. The esteemed panel of judges will provide their unbiased insights during the Live Judging Days set in late July 2022.

John Ler and Kelvin Chew, international contact partner and managing partner of HLB Ler Lum Chew – HLB Malaysia, respectively, lead the third-party team of supervisors, ensuring credibility, fairness and transparency of the entire awards process.

In addition to the independent panel of judges, consumers will have the opportunity to vote for their preferred companies through the People’s Choice Awards, honouring the 10 most popular development companies in the country. Results of the People’s Choice Awards are independently verified by PwC Malaysia.

Reaching a wider audience including consumers, investors and real estate agents throughout Malaysia and across Asia Pacific, the exclusive gala dinner and presentation of the PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my in November will be streamed live on
AsiaPropertyAwards.com/tv-podcast
 and the official channels on
Facebook
,
LinkedIn
, and
YouTube
, as well as on
iProperty.com.my
’s Facebook page. Highlights of the event will air on the History Channel, the official cable TV partner of the Awards.

Country winners from Malaysia have a chance to claim the “Best in Asia” honours as they advance to the 17th PropertyGuru Asia Property Awards Grand Final, which will be hosted in Bangkok on 9 December 2022. The hybrid physical and virtual edition of the PropertyGuru Asia Real Estate Summit, the tech and thought leadership platform of PropertyGuru Group, will take place in the same week.

The 9th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my is supported by gold sponsor Kohler; official portal partners PropertyGuru.com.my and iProperty.com.my; official venue The Majestic Hotel Kuala Lumpur; official cable TV partner History Channel; official magazine PropertyGuru Property Report; media partner KopiandProperty.com; official ESG partner Baan Dek Foundation
;
[PR2]
  People’s Choice Awards official voting partner PwC Malaysia; and official supervisor HLB.

For more information, email
awards@propertyguru.com
 or visit the official website:
AsiaPropertyAwards.com
.

–END
–

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Two International Convention Centres in Medini and Senai-Kulai

Two years ago I gave a talk in a property cum electrical goods fair in Persada Johor International Convention. Yes, that’s the largest convention centre available in Johor Bahru. It’s quite convenient in the sense that you can get food easily and parking was also available. However, the crowd then was nothing to shout about when compared to MAPEX JB held in City Square mall. The reason? Connectivity. Everyone coming into Johor Bahru would pass by City Square. Thus, they can guarantee the crowd and they can charge so much higher than any other malls. The question would thus be, would these two new international convention centres be well connected?

Of course, in terms of actual design for a convention centre, Persada is definitely better than City Square. You cannot do an international conference in City Square. Even a slightly bigger car show is not possible. Thus, for these type of shows, currently you have just Persada and I think the two new international convention centres are needed in the future. I think there would be many times in a year which it would be booked by Singaporean companies because of the cost factor. By doing it in Johor instead of Singapore, they can actually give more to the participants as the rental is surely lower.

The only gripe I always have with these facilities would be its maintenance. Even in Penang, the Penang International Sports Arena was badly maintained that the lift broke down on and off during events. Fortunately, it is now SPICE and is rebuilt by SP Setia and will be maintained by SP Setia for many more years to come. Please, get a good developer to do it and do it in such a way that they manage it and not just building it. Personally, for these kind of facilities, the best developer with experience should build and maintain it and not just any developer with the lowest tender of all. There are times for a fully open tender and there are times for guided direct tender. Make the right decision please.

written on 18 July 2014

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Two more huge malls opening in Cheras

Seriously, how many malls do we need in the Klang Valley? Or specifically within Cheras and both are ONLY 800 metres away from one another? Should we even buy KL properties due to new malls these days? Well, two more coming up in Cheras and they have over 2million sq ft net lettable area (NLA) between them. They are MyTOWN Shopping Centre and Sunway Velocity Mall. So Cheras folks, they should be spoilt for choice. Of course as of now, due to the MRT work, the jam on the main road has increased but perhaps shopping may soothe some of the tension from being stuck in a jam.

By the way, these two mall are also pretty near to the
Kuala Lumpur city

centre or other malls such as Suria KLCC, Berjaya Times Square and Pavilion. Well, looking at just three malls which I have been to, I personally think the two new malls in Cheras should still be doing fine. Let’s hope they price their parking rates RIGHT. The two developers for these two malls are not new players. They include Boustead Ikano for MyTOWN Shopping Centre while Sunway Velocity Mall as per the name is by the Sunway Group. the current two malls in Cheras? They are Leisure Mall and Aeon Maluri shopping centre.

I think Sunway Shopping Malls & Theme Parks chief executive officer H.C. Chan sums it quite convincingly as he said, he sees the presence of IKEA and MyTown as a creation of another shopping corridor in KL. This is similar to that in Mutiara Damansara with The Curve, IKEA, IPC. He said, “Fundamentally, the real issue is the absence of lifestyle and experiential malls in Cheras and that is where Sunway Velocity Mall fills the void. Both are also opening 18 days apart. Sunway Velocity Mall is opening 28 October while MyTOWN Shopping Centre will open on 15 November. Both malls have 6,500 parking bays.

Let’s look at the anchor tenants. Sunway Velocity Mall has Parkson, TGV Cinemas, Harvey Norman, Popular book store and Toys “R” Us. MyTOWN Shopping Centre Village Grocer, Golden Screen Cinema, Mango and Uniqlo. Have you decided yet? Actually, go both, see which one we like more. Many times,
certain malls may have more of those brands

that we like and we tend to go there more often. However, I have never shopped at just one mall thus far even if my favourite remains to be 1 Utama. Will write again after I have visited both malls yeah. Any comments, please feel free to write too okay. Happy anticipating.

written on 9 Aug 2016

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U-Turn(s)? Or better common sense

Remember just the other day when the government decided to
freeze ALL Luxury and commercial projects within KL?
  There were supporters actually who said that this will help to reduce the current oversupply, which is really the

commercial offices as well as luxury units.

Perhaps not immediately reduce but after a couple of years perhaps. There were also opposition to the idea that ALL approval are to be frozen because there are definitely some projects worth going ahead, especially those with good demand. Anyway, within the next day one minister said that the freeze order was not a blanket one. It is based on a case by case basis. Another minister immediately responded that there are no such thing as a case to case basis. This was the decision of the cabinet and thus all should follow. Just two days ago, it was now quite certain that the approval freeze is no longer a blanket one but would be on a case by case basis.

Now, our Second Finance Minister Datuk Seri Johari Abdul Ghani says he will ask the prime minister to allow such projects in major cities. He explained that the freeze was aimed at developers whose business is not in property development; they are not serious developers. He said that he will meet the Prime Minister and ask for the ban to be lifted for certain viable developments. Here’s that
article in TheEdge
.  Within the same article, he also mentioned that some government agencies are building homes to fulfill key performance indicators and not meeting public’s needs.
(Frankly, the KPIs should be how fast the homes are sold and occupied. Not just how many were built…)
He urge private developers to work with the government instead of leaving them to the government agencies.
(I think for this to work well, perhaps all affordable homes should be a joint-effort. The research to be done by the private developers who are usually more diligent because if they built at the wrong place, the company will suffer huge losses. As for government agencies building at the wrong places, I have not heard of anyone being held accountable yet)

There is one rational article in NST today. Here’s that full article.
NST: Lock, Stock & Barrel: Exercising discretion in luxury projects
 This was what he concluded, “I suggest that any ban of this nature be tempered with good economic sense, and any application be considered on a case-by-case basis, and approval be given on its individual merit. In this way, the government can exercise some form of control in sectors that are overbuilt, while at the same time, exercise discretion in cases which merit a development going forward.”
(Makes full sense. Each project being rated according to its merits and to be approved after looking at the sectors that are overbuilt. Perhaps some neutral opinions are needed in this case. Please do not just rely on analysts though because just looking at numbers and percentages does not mean it’s the best. Seriously, a state with the highest percentage of oversupply does not mean it’s worse off than another state with just a minimal oversupply…)
 Cheers.

written on 2 Dec 2017

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UBER saves cost by ‘cutting’ people. Wall Street analysts like it.

These days, we see many big names letting people go because of the effects from COVID-19 economy shutdowns. Without economy activity, business suffers and soon the company would not have enough funds to continue paying salaries.  Thus, they have to let people go. Another famous name is also letting people go because it has to manage its cost. It’s the ride-hailing brand which retreated from the South East Asia market but has now a big stake in GRAB. The company is Uber.

Uber was established in 2009. It has been growing its presence throughout the world and thus the focus was on market growth instead of becoming profitable or self-sustaining. As at 2019, for the full year, Uber said it lost $8.5 billion (RM37 billion). At the same time, It said chances are high that it could be profitable by end of 2020.
 The loss and the profit prediction is here in this article and it was before the arrival of COVID-19.

Article in marketwatch.com here.
  Uber Chief Executive Dara Khosrowshahi informed employees via a memo that Uber will be cutting another 3,000 jobs and this is on top of the earlier announced 3,700 jobs. Once this cut is completed, UBER’s total employees would drop by 25%.  It is said that that will save Uber a total of US$1 billion (RM4.36 billion) in annual expenses.

BofA Securities analyst Justin Post said in a note about this announcement. “Uber continues to mature, with a more focused scope of operations and fewer non-core endeavors. We would not be surprised if Uber is looking at strategic options for Freight, despite costs cuts being still focused on selected growth initiatives. Actions such as incorporating public transit in the mobility app, and expanding Eats to ‘Delivery’ including Grocery and Direct delivery.”

CFRA analyst Angelo Zino said, “We applaud [the cost savings] as it will allow the Rides segment to be profitable at a much lower run rate.”  Please do read the full and comprehensive article here:
Article in marketwatch.com here.

Hopefully all these employees who lost their jobs could find one soon. Their experience working with Uber should help tremendously if they are looking for a similar job in the online industry. It’s tough for someone from the manufacturing line to jump into a job with an internet company but Uber’s employees should fit the bill for most other online companies which are still hiring. We wish them all the best and that COVID-19 deaths in the U.S. will soon be dropping tremendously.

Coming back to the SME world here in Malaysia, SMEs hires 70% of all employees in Malaysia. It contributes about 30 percent to the GDP growth every year. If we are a typical SME company which has just started, the goal is to be self-sustaining as soon as possible. Let’s understand that the business loan which we took has to be paid, right? Even assuming it was the parents who gave us the seed money or the business capital, we cannot keep going back to them every year… right?

Of course today, if we are in the online space where we are known as a disruptor (which is supposed to be great for the market) then the chances that investors will continue to invest will be there.  That goal is no longer to become profitable as soon as possible but to become dominant in the market so that very soon, the company could become profitable. So, do you have any idea which could disrupt the industry, yet? Think of one, start it and make it big.

Online businesses do not have a geographical limit, generally. Oh yeah, if you happen to be the CEO of some funds looking to acquire stakes in online business, feel free to reach out to me yeah. kopiandproperty.com may be thinking of growing faster than the last 2 years too when we become a Sdn Bhd too. Not just the money part yeah, need that experience to help the growth too. As for now, just stay at home!

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Subsidy is bad. Competition is good. Honesty still exist.

I know of many horror tales about taxi drivers in Malaysia. My ex-country manager was charged RM25 for a 800m journey. All other taxis she asked told her that’s the fare! I have never used UBER and have used Grab only a few times with the last one being a few years back. These days, I would WhatsApp a taxi driver whom I think is sincere and honest. Yes, he is a usual red and white taxi driver. He told me that it’s getting harder these days as the number of customers have dropped with UBER and GRAB. I have many friends who kept telling me that UBER and GRAB is revolutionising the taxi industry. I do think they help make everything more efficient which is great. As for other stuffs, let me tell you my personal views.

Competition should always be fair. Organisations should be more effective and efficient and continue to improve their services so that it is better than the rest. They should however not continue to use huge fundings to fund their expansion and in the process killing many competitors who do not have the same amount of funding. As at recently, UBER is still reporting huge losses. In brief, their current model is not a profitable one. Yes, the only reason why you can pay such low fares (sometimes free) is not because the driver is working for fun or charity. It’s because UBER got more fundings and could continue to subsidise their expansion plans. In August 2016, it was reported in many media that UBER has suffered US$1.2 billion loss within H1 2016.
Here’s one of the report.

A friend who’s Senior Manager in a multinational remarked recently that startups would always be losing money in the beginning. Well, UBER started in 2009. So, how long should startups continue to lose money? This is not an article to tell you to stop using UBER. Everyone should continue to enjoy cheaper rides, even free ones for some cities in Malaysia. I just wanted to clear the point about fair competition and also some good, honest and sincere taxi drivers. We can always say these are the minority but fyi, they still have a life and even a family to feed. My favourite taxi driver? Well, he has 5 kids. Happy riding / hailing.

written on 2 Dec 2016

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Iskandar property? Definitely not an easy time.

It’s not easy for Iskandar Malaysia these days. Any news are most of the time negative. Latest one which was widely reported in all medias would be the cancellation of Asian Trade Centre by UEM-Sunrise. This would have been a huge catalyst project in Gerbang Nusajaya. According to Chief Executive of the Iskandar Regional Development Authority (IRDA), Datuk Ismail Ibrahim, this cancellation should be viewed as a decision in the interest of the company. If they found the return on investment (ROI) to be not lucrative, they should be free to change it to something more profitable. This should not be viewed as Iskandar having problems.

Personally, I think he is quite right about the decision to focus on ROI. However, not many would believe that this cancellation has nothing to do with the current negative sentiment surrounding Iskandar. Just look at every new report from all medias, whether they are based in Malaysia or even from Singapore. I still remember when Iskandar was still hot just over 2 years ago, every piece of news was about which developer is launching what and all the new investments and the bullish sentiment then.

Has Iskandar stopped growing then? Seriously, no. I have yet to read any news report about the current construction for existing projects being cancelled, abandoned or even stopped. International schools are still being planned, being constructed and more are being opened. Read here:
12 International Schools just within Iskandar?

Is Iskandar new launchings still growing feverishly then? Haha. Answer is of course not. Which local developer has recently announced their biggest project launching is in Iskandar? I have not read any. Do note that developers who has landbanks in Penang, Greater KL and Iskandar is more likely to have the largest piece in Iskandar instead of the other two places. However, no one would be thinking to push for Iskandar first and the other two later. Read here:
“We prefer the Klang Valley and Penang over Iskandar”

Developers are now focussing on affordability and this theme cannot be extended to Iskandar, yet. The reason is because the demand for these first time homes would more likely be in Penang or Klang Valley due to the existing working population and the growth of urbanisation. Iskandar, in terms of actual employment opportunities is definitely lower than the other two. In fact to hope that Malaysians working in Singapore to stay in Iskandar instead is also far-fetched because of the current links which are inadequate. Unless more links are built to make it really convenient, the demand from these people will not suddenly increase.

Would this change? Yes, of course. With the right policies, everything can change. With the right sentiment arising from positive new developments, of course. If there are suddenly a few more catalytic developments jointly developed by Malaysia and Singapore being launched and the take up is good, it would also add to the positive sentiments. So, should buyers be selective and buy projects which should be considered undervalued under good circumstances? Actually, ANYTIME is a good time to buy as long as the objective is clear and is met. Disagree? There are lots of other places to buy. Happy deciding.

written on 31 May 2015

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UEM Sunrise: 291,000 sq ft land for RM677 per sq ft. Estimated GDV of RM3,436 per sq ft.

291,000 sq ft land for RM677 per sq ft. Estimated GDV of RM3,436 per sq ft.

This just happened

It is considered a small piece of land. Actual location wise, it is really, really close to a MRT station. Neighbourhood wise, it is within an established and mature neighbourhood. Surely if homes were built on this piece of land, there would be many interested buyers if the price is attractive enough. Surely this piece of land will have many potential buyers, right? Anyway, I have no idea if there are many buyers who are willing to pay a high premium for it (the land) but for this particular piece of land, UEM Sunrise Bhd has acquired it. They are paying RM197 million for this 6.86 acres of prime freehold land.

Article in themalaysianreserve.com
 UEM Sunrise Bhd has acquired 6.86 acres of prime freehold land adjacent to the Taman Connaught MRT station in Cheras for a total consideration of RM197 million. The development would have an estimated total gross development value (GDV) of over RM1 billion and is slated for a first phase launch in the second half of 2022.

UEM Sunrise CEO Sufian Abdullah said, “The proximity of the land to the Taman Connaught MRT station provides UEM Sunrise an excellent opportunity to explore a Transit-Oriented Development that meets the demands of young urban professionals working in the city and complemented by a lifestyle offering in attractively priced residences.” Please do read the article for more information about this project, especially those who love Cheras and a Transit-Oriented-Development (TOD).
Article in themalaysianreserve.com

What happens when demand for homes go up?

When demand for homes go up, the prices for homes move up. When prices for homes move up, the price of land on which these homes are built will also go up too. Of course, when price of land moves up, this would also mean the cost of the home development would move up. Somehow it’s a cycle where both (land price and home price) would be influencing one another.

Just need to understand that demand for homes will come from a lot of younger buyers who does not need a big sized home yet and would love a lifestyle of staying close to the office versus waking up very early in the morning to drive to work. Now, just need that right product and great starting price. Second half of 2022 yeah. I wonder if UEM-Sunrise would also get us to write about the project too. We shall see.

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UEM Sunrise Bhd – time to buy property stocks?

What can you buy for RM106? A dinner for 2 in a nice restaurant without wine or 55 litres of RON 95 Unleaded petrol for a travel from KL to Penang and from Penang back to Ipoh. Or you can also buy 100 units of UEM Sunrise Bhd from Bursa Malaysia. Sounds like a good option? Well, according to one latest report in a local English daily (12 Sept 2015), the current price per unit is RM1.06 and it is second most active counter this week due to some rumours of a corporate exercise. In terms of valuations, it is also looking attractive. It is only trading at a price-to-earnings  of 10 times while forward valuation was 13.25 times, according to Bloomberg data. What is price-to-earnings ration in very easy to understand language? It meant if I buy 100 units at RM106 today. 10 years later, my 100 units should be worth RM212. Yes, doubled. Is this attractive? In simple terms, this is 10% return per year based on it having the exact same profits year after year and same stock price year after year. Not many unit trust agents would dare to promise you double digit returns every year. In fact, the typical rental returns of today is more like the rates of fixed deposits, at 3.5 percent only.

Another very good sign is that the stock’s net asset per share is at RM1.40 indicating that at current price, the stock is still undervalued. How to explain this? Well, in brief, if you buy 100 units today at RM106 and UEM Sunrise Bhd decides to stop its business and sell off all its assets etc, you would get back RM140. Looks good. In terms of gearing, it’s only at 0.285 times. As soon as you check among the usual property developers, you would know that this is very low. Most property developers are much higher, perhaps 0.5 times or higher. Yes, even the top names you usually hear on a daily basis. Lower gearing means lower debts, means better flexibility if they wanted to buy more land or become more aggressive in having more projects.

UEM Sunrise was formed in 2010 with the merger of UEM Land Holdings Bhd and Sunrise Bhd. Sunrise was a famous brand and UEM Land has lots of land bank. Total landbank that it has today is 15,000 acres in Malaysia and overseas but more than three quarters are in Johor. That’s why it is more careful. Read here:
UEM-Sunrise, it’s all about work; Johor

Of course, this huge land bank in Iskandar meant that the stock price has been battered hard. No one is positive about Iskandar and the Singaporean authorities and many property related sites continue to give warnings to investors to be objective and not rush in unprepared.

Net margin is healthy when we look at the financial year ended Dec 31 2014. Total net profit was RM479.93 million and revenue was at RM2.66 Billion. Net profit margin? 18 percent. This number is on the higher end when compared to the many developers I have written recently. I do not own a single unit of UEM-Sunrise shares. If I do buy, it will only be 3,000 units. Yea, hopefully it can go up slightly, then I can sell for a nice dinner. Haha. As per Warren Buffet, buy undervalued companies and the value would soon be reflected in its share price. I still think the market is way too volatile for newcomers. It’s really scary as there are very few fundamental investors. Everyone buys or sells based on what the bigger players are doing. Thus, I may own at maximum, 3,000 units. Just for fun and perhaps treat like a Fixed Deposit and leave it untouched for some time. Happy investing or skipping.

written on 12 Sept 2015

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UEM-Sunrise, it’s all about work; Johor

Just when you thought Iskandar should be in a hibernation mode with the never ending negative reports from Malaysia and Singapore, well there’s a piece of good news. UEM Sunrise Bhd, the principal developer of Iskandar Malaysia said that it will be busy in 2015 because of Motorsports City in Gerbang Nusajaya and other catalytic developments in Nusajaya. Okay, what is catalytic? Well, these are the projects which would start first so that people would have confidence and the whole area comes up. Gerbang Nusajaya is a 1,800ha land with an estiated GDV of RM40 Billion. Actually, versus the land, RM40 Billion is not considered that huge. Of course as usual, when the years passed and the development continues, the GDV would be adjusted accordingly. Let’s not worry about that for now. This 1,800ha would have lifestyle and retail parks, campus offices, industrial parks and residential precincts. All these would be developed over a period of 25 years. For a while you may suddenly feel that the oversupply situation should ease, since this is to be built over 25 years.

Motorsports City is a 4.5km race track worth RM3.5 Billion and it will be used for Grand-TOuring, go-kart and motorcycle races as well as other types of racing. It will also be a model automotive hub, comprising 4S (sales, service, spare parts and systems) centres, including car showrooms, bonded warehouses and retail and al fresco spaces with food and beverage outlets. I personally do not prefer al-fresco that much due to the weather. Let’s see what’s their design is like then.

Besides that, with SIngapore’s Ascendas group, UEM-Sunrise would be developing a 207.6ha integrated eco-friendly technology park with an estimated GDV worth RM3.7 Billion. This FULLY landscaped parti would be catering to industries ranging from electronics, pharmaceuticals and medical devices, food processing, precision engineering, fast-moving consumer goods, logistics and warehousing. The only tiny setback, this park has yet to conduct its groundbreaking ceremony. 🙂

UEM-Sunrise’s landbank are also more focussed in Johor. (70% of them) Thus, the focus is definitely in Johor for a very long time to come. Now comes some good news. UEM-Sunrise said that it will revisit some of its developments to cater more for current market demands and trends. In short, i think the trend would be to be more affordable and perhaps building higher instead of landed ones. The key currently is just to sell and ensure good take-up rates. I think UEM-Sunrise would understand that prices are key, or else it’s best not to launch. End 2015 or early 2016 would see a launch for a mid-market residential project within Gerbang Nusajaya. (I think I have interest in this, will report if I have more news).

Actually if you really read the whole article carefully, it is still going to be a slow 2015 for UEM-Sunrise in Johor. For more residential units to be launched, all these ‘confidence building’ projects should be well on its way first. Just the usual ground-breaking ceremony is not enough under current circumstances. Nevertheless, do watch out for them because should the market suddenly turns around, UEM-Sunrise will rise due to its huge landbank in Iskandar. Besides as they are the principal developer of Iskandar Malaysia, their action says a lot about the market condition there. This is a company which we should follow closely too.

written on 17 Dec 2014

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UEM Sunrise lowers target for 2016. Now at RM1.5 billion.

Launching of new properties are getting slightly slower these days. Perhaps that’s because the current ones are still in the market. It certainly takes more effort to sell compared to previously. Some developers are adjusting their targets upwards and some like Sime Darby Property is setting a target of
RM3 billion target by Sime Darby Property with new launches

I just came back from Havoc Hartanah KL 2016 last weekend and I think many people are really waiting to see if they should buy. These may be those who can get loan approvals versus those who simply tried and failed.

One is taking a more conservative approach. In yet another sign of a slowing property market, a major developer, UEM Sunrise Bhd has revised its sales target to RM1.5bil from RM2bil for 2016. Reported in Starbiz, It’s  managing director and chief executive officer Anwar Syahrin Abdul Ajib said, “It’s rather conservative but we want to be realistic and not over-promise.” For now, it is eyeing land for acquisition in the Klang Valley worth up to RM3 billion. Within 2016, UEM Sunrise will be looking for suitable partners for township projects. They are looking to build another township like a new Mont Kiara.

It is also looking to launch an affordable housing project under the Rumah Selangorku scheme in Bangi with average price of RM250,000 this year. UEM Sunrise owns 4,200ha of land in Nusajaya and is the master developer of Malaysia’s first economic growth corridor in Johor. Nusajaya’s total size is 9,661ha and is one of the flagship zones in Iskandar Malaysia. It is currently building homes, waterfront properties, offices, hotels, factories, hospitals and campuses, in a joint venture with several other developers. Happy following.

written on 20 Apr 2016

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Rent-to-Own a value-added solution to buyers and banks.

Another Rent-to-Own (RTO) news. I think this will be something prominent in the future, just like
proptech stuffs
.
 Partly due to home prices which many said is too expensive for the average Malaysians and partly because the average Malaysians are also having lesser money in their pockets because there’s way too many temptations. Earlier article here:
When everything we want to buy seems so easy; monthly

Article in Edgeprop.my here.
 UEM Sunrise Bhd’s managing director and CEO Anwar Syahrin Abdul Ajib said of its RTO expansion plans. He said this to Bernama. “This will enable the young buyers to plan their finances and facilitate their borrowings. The scheme will also help to mitigate projects/developments being empty and untenanted, which may result in unnecessary maintenance costs.” UEM Sunrise launched its EASY Own Plan, in August 2017 and recently began collaborating with Malayan Bank Bhd (Maybank) through the latter’s HouzKey scheme. It has two projects under the RTO scheme namely Verdi Eco-dominiums in Symphony Hills, Cyberjaya, and Residensi Ledang in East Ledang, Iskandar Puteri. Both projects were completed in 2016. He does not have glowing comments about government’s plan to ease the procedure for housing loan applications. He shared, “About 25% of housing loan applications were rejected with the most common reasons cited being insufficient income to support debt repayment, adverse credit history and inadequate income or financial documentation. Banks are remaining vigilant in assessing the sustainability of borrowers’ sources of income and financial commitments.” He concluded by saying, “Our RTO scheme will offer property buyers an alternative pathway to owning a house and provide a buffer period for potential house buyers to sort out their personal finances and build up their credit standing, before they start applying for a loan.”

I think I agree with most of his views. The issue with affordability is one with the first-time home buyers and they need to have the flexibility to create their own ‘image’ (credit standing) with the banks who may not be willing to release a few hundred thousand ringgit to them yet. With a record of continuous repayments, banks would be able to assess that commitment and with the passing years, the income would eventually grow too. Frankly, stretching the payment a little is always possible, just need to control the temptations. If I am the bank, I love stability in customers’ monthly repayments and RTO schemes facilitates this. The current number of unsold units in the market could also be better channelled to potential buyers too. Earlier article about unsold units here:
Unsold homes highest ever in history. 50 pct due to Johor, Penang and Kedah.
Happy getting that first home through RTO schemes yeah. Else, secondary market can also be another choice too.

written on 18 June 2018

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UEM’s ‘hibiscus’ Aurora is tallest in Melbourne CBD

When your home market is cooling down, it’s wise to venture out into hotter areas. UEM Sunrise is doing this. It will be building a A$770 million (RM2.4 Billion) mixed-use development called ‘Aurora’ in Melbourne’s CBD. At 92-storey, the development will be the tallest in the Melbourne CBD and it will have an underground connection to the rail network, the Melbourne Central Station. It is also near to the CBD’s retail selections such as the Melbourne Central Shopping Centre, Emporium, Myer, David Jones, GPO and the Bourke Street Mall. Besides that, RMIT University is also just right outside its doorstep.

According to UEM Sunrise managing director/chief executive officer Anwar Syahrin Abdul Ajib, this maiden project is in an enviable location. Out of the 941 units in the development, 95 percent have been sold. The project will take four years to complete. The building would take the shape of a budding hibiscus and is brought to life by a simple geometric modularisation where elegant tapering curves revolve seamlessly through axial symmetry to reveal a flower in bloom. I believe the final shape should be much easier to understand than its description. Haha. The design is by architecture firm Elenberg Fraser. Construction would be done by Prebuilt, a tier-one construction company.

I think everyone would note that UEM Sunrise’s huge exposure (landbank) in Iskandar meant that current times are especially slow for them. Read here:
UEM-SUnrise, it’s all about work

Thus, this overseas project would most probably be just a stepping stone into more of such ventures. Thus far, developers building in overseas including Australia or even London has always been showing success. I believe many of these are fellow Malaysians who are buying because of familiarity with the developer as well as an investment for their children’s future education there. Happy reading and knowing that Malaysian developers are not just building within Malaysia.

written on 23 Oct 2015

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UK house prices to plunge 20% because of rate hike?

This is the latest news about the AU property market. Read the latest blog post here:
Property market Australia showing a drop for the first time since 2018. Negative?
    It’s impacted by the rise in interest rate. Briefly, interest rate is not so great for the property market. Buyers will find repayments become higher, thus their application may not be approved by the bank. Sellers meanwhile may have to reduce their selling price as buyers are just not so happy to accept the same price as their repayment has been adjusted higher.

Now, let’s look at the impact from interest rate in the UK property market.

Article in theguardian.com
 “Property market has defied gravity for years but analysts say rising mortgage rates will mirror the 1980s price crash.”  Halifax bank said house prices are down by 4.3% from last August’s peak. Figures from the Halifax this week showed a first-time buyer was paying just over £300,000 to get a foot on the property ladder and needed a deposit of £62,000. More than 60% of mortgage completions were in joint names last year. Please do read the article with lots of other stats here:
Article in theguardian.com

What’s the actual impact of interest rate rise?

Below are two images showing what happens when the interest rate rises by 0.5% for a RM500,000 home loan. The actual difference is RM131. How much would this impact the buyer or the owner would really depend on whether they were overstretched in the first place. If the owner did not buy a property way above his financial capability, this interest rate rise is likely to be okay for him.

Property price expensive or not depends on salary as well

In fact, this rate rise also depend on the property price. If the property price was already high in the first place, any rise would make matters worse. Whether property price is high or not is dependent on median property price versus median salary yeah. Just as RM1 million property is expensive for most Malaysians, AUD1 million property is also expensive for most Australians and S$1 million property is also expensive for Singaporeans. Just google and you would understand why I used 1 million as a benchmark.

Happy taking note.

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UK property market losing momentum? Give the people a break please.

What happens in the property market?

Property market needs to depend on transactions (owners and buyers). Transactions happen when buyers could afford to buy. Or they have a job which pays them enough salary to buy a property with a home loan. The home loan needs to be approved by the bank and the bank would want to manage their risks too, so they may not want to lend if the property price is just too high to their liking. This means that the property market should just behave in an orderly manner and everyone would be happy. Or is it?

How about looking at a country whose property market is more advanced than ours? It is said that the UK property market is now stalling.

Article in nst.com.my
.
 Image shows the PROPERTY PRICES increase over the last year.

U.K. house prices stalled in February 2021 and this is indicating that market is losing momentum after a surge last year. Prices were virtually unchanged following nine consecutive monthly increases as per the Office for National Statistics. The average U.K. house price was 250,341 pounds (RM1.42 million) in February 2021. This is an increase of 19,732 pounds (RM112,000)  from a year ago. London’s home prices remain most expensive with an average value of 496,269 pounds (RM2.82 million).  Do read the full article with ore details here:
Article in nst.com.my

Property price and property market

The reason I showed the chart first before the commentary was just to remind everyone that with those kind of price increases, it’s best that the property prices stop / slow down currently. Seriously, how many of the working professionals in the UK received a salary increment of 10 percent last year? How could they afford such an increase in house prices if this house price increase is continuing?

By the way, a prediction using a survey of 18,000 employers in the UK showed that the salary increase for the UK private working professionals for 2021 is 2.4 percent. Yes, it’s less than 3 percent. Hopefully now you realise why I think the market has better slow down in terms of property price increase yeah. Here’s that report in full about the salary increase in
employeebenefits.co.uk

I also hope the same situation prevails for Malaysia as well. There is really no need to have high property price increase in current situation or in any situation. Double digit price increase? Keep that away please. It does not help and will just increase the potential for a bubble in the market. In the meantime, stay safe and happy viewing some homes this weekend.

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UK property is NOT for ‘Dirty Money’

There are lots of ‘property linkages’ between London and Malaysia. Malaysian developers are in London, developing many new and iconic projects. These include SP Setia’s Battersea, IJM’s Royal Mints Garden and Eco World’s Ballymore. Malaysians are also property investors in London, especially for those buying for their children who would be studying there in future. According to David Cameron who’s visiting a few ASEAN countries, the Prime Minister of the UK said that there are however some signs that property acquisitions have been used to launder ‘dirty money.’ For example, corruption money from many countries are being legalised in London’s property market. He said, “Foreigners must not be able to buy UK homes with “plundered or laundered cash” as part a global effort to defeat corruption” He went on to vow that he would expose the use of “anonymous shell companies” to buy luxury UK properties – often in London.

While he did not say what would be the actual actions being taken but currently there are more than 100,000 UK property titles registered to overseas companies. Within London alone, there are more than 36,000 properties in London owned by offshore firms. In total, there are about

£122bn of property in England and Wales owned by offshore companies.

He said that majority of foreign-owned business investing in Britain had “nothing to hide” and were welcome but there must be rules to make transparent all those who are trying to launder money. This will allow them to be tracked down.

I would personally love to see what are the next steps being taken. Also, how would the enforcement be carried out successfully. Truth is, £122 billion is a huge number and even if just a small part belong to these ‘ill-gotten gains,’ we are still talking about billions. Honestly, this affects not just Britain but many other popular property markets in the Western world today. I would like to ask David Cameron to share his steps with all the rest of the countries which are also affected by these money laundering activities. This will allow a concerted effort and not just push it away from London property markets into some other property markets. Happy tracking.

written on 2 Aug 2015

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Ultra-high net worth Malaysians loves properties

I was having a discussion with a group of close friends who happened to be property investors as well. One of them told me of a friend, Mr. B who seems to be buying properties non-stop. Mr. B happens to be a Malaysian working in China and earning US$ currently. That’s great news because this Mr. B may not love to be staying in China forever. When we have enough inputs (EARNINGS in US$), we should quickly invest them. Whether it’s property or some other types of investment matters little.
Idle money creates nothing
.

Then, we started talking about Mr. P who owns just ONE condo despite having a job which pays very well. His wife earns just as much as him and they live in their little home with their 5-month old baby. Mr. P is however looking for a semi-detached landed property and his budget is RM2 million. Yes, we can imagine how cash-rich is Mr. and Mrs. P.  Too bad, for too many years, they did not do
 anything and is only starting today
. Of course, it may also be because both of them were working so hard that they do not have time to think about investment. Both these are extreme cases. Many among us are in between.

Well, for the ultra-high net-worth individuals (UHNWIs) in Malaysia, they
LOVE properties
. According to a survey by Knight Frank based on the views of 400 private bankers and wealth advisers who, between them, manage assets for about 45,000 ultra-high net worth individuals. The ultra-rich are defined as those with minimum US$30mil (RM117 million) in investable assets. Analysing deeper into the Malaysian UHNWIs, their worries are succession/inheritance issues, global economy and taxes.
(Somehow, I think family businesses may be causing the first worry. Most probably the business was started by the father or grandfather. Global economy is not hard to fathom,
Malaysia remains a small nation affected by whatever is happening in the world today.
 Taxes is something I do not really understand yet. Perhaps that’s why I am not under this category. Haha)

More importantly, 65 percent of Malaysian respondents said asset allocation to residential property had increased over the last decade. At the same time, the same percentage said allocation would also increase over the coming 10 years. This is the highest seen across the ultra-rich in Asia-Pacific for both decades. Yes, Malaysian UHNWIs loves properties! If they do buy overseas, their favourite foreign property destinations are ranked as follows: Melbourne followed by London and Singapore.
(Singapore is a natural choice but if I become a UHNWIs in about 188 years, I think I will not include it within my top 3 choices.Major Australian cities would be a choice but beyond London, I would love some other cities in the UK too. I prefer 4 seasons instead of HOT, HOT and HOT all year round.)

The question is thus why should we shy away from property as an investment when all those who are doing way better than the majority of the middle-income Malaysians are putting a high priority in property? In case some still prefer to debate / argue that these UHNWIs have more money and thus could diversify more, please continue debating with others. The only reason why we may have more in future than what we have today is because
we diversified what we have to earn more of what we do not yet have.

Happy investing.

written on 22 Apr 2016

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Unaffordable homes will come true, one day.

Someone forwarded me a message which says the Bank Negara Malaysia (BNM) is saying that the homes in Malaysia is unaffordable. Here’s that article in
 TheStar.com.my. Homes just aren’t that affordable.
 I think what BNM is trying to say is that there are more that could be done instead of asking banks to lower their lending criterias. Anyway, to people waiting for RM200,000 landed homes, sorry yeah, this will not happen again. However, if we are talking about flats, especially those cheaper than many of the PR1MA apartments, here are some choices from Mudah.my (As at 31 Oct 2017). Just go to mudah.my and choose Kuala Lumpur followed by entering the keyword of ‘flat.’ I could not answer if these are property that everyone is looking for but many of these are near enough to public transport or to malls or even within just a few km away from KL city centre. Perhaps the only setback would that some of them may not be in their best conditions anymore. Many may even require some extensive renovations. If mudah.my is not your choice, then
iproperty.com.my
or even
propertyguru.com.my
 would provide more choices as well. To check the actual transacted prices?
brickz.my

in many countries, it’s no longer about prices but it’s about choices. There are really no choices that they could afford, even if they wanted to buy one. Australians may earn many times more than us based on currency but this is one latest news about their property affordability.
Australia: Housing affordability worsens: Moody’s.
 Many Australian cities are in the world’s most liveable cities list but this is one latest article about the actual property ownership.
In the world’s most liveable cities, few can afford to buy a home.
  The same thing is also happening to British who earns 5.5 times more than us due to currency. One latest article about the affordability of homes?
House prices are a clear barrier to young professionals in London who are opting to rent.
Closer to home? Here’s what Japan’s housing is to the working population in Tokyo.
Japan’s high real estate prices gives investors vertigo.
 My ex General Manager travels 400km daily to and fro work because he does not want to buy a very small flat within Tokyo. He has a wife and two kids you see.

Malaysia’s property prices are rising even if it has slowed for the past few years.

In fact, for some luxury condos, the prices have fallen more. This was also because they rose the most during the booming years. For condos which prices went up slowly, the prices have not moved much.
It’s a challenging time indeed.

Perhaps even upwards. One day, most of all these properties would become unaffordable and similar articles like those of the more advanced markets would be common. Today, well there are still choices and the state governments as well as the federal government is pushing for more of these affordable homes. I struggled to buy my first apartment together with my wife after we have worked for a few years. I seriously think it is possible to still do the same. Sacrifices would have to be made though as materialism will eat away the potential savings for a home. Is renting a better option? As of now, it does seem so, with so many owners trying their best to rent out their homes. Competition means lower rental. Enjoy it then if that’s what we think we want.

written on 31 Oct 2017

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One day, all properties will become unaffordable. What happens next?

Anyone has this thought on their mind? What happens when property prices become higher than ‘severely unaffordable?’ Instead of spending 35% of one’s salary for the home mortgage payment, one has to spend 70% or higher on the monthly mortgage? Instead of having a choice whether to buy nearer and smaller versus bigger and further, now every property ranges from crazy expensive to impossible expensive? What will happen?

How about a look at the home prices over 10 years?

Typical calculation for how much to pay per month for a RM500,000 home?

Source: calculator.com.my

Salary vs Mortgage? Why 35%?

Referring to the image above, the typical mortgage per month for a RM500,000 home with 10% down-payment is RM1,900.  If this is calculated as 35% of the income, then the person who could afford this RM500,000 home based on pay should be earning a minimum of RM5,430 net salary per month.

Why do we say 35% then as a recommendation?  Well, we do need another 30% for a car (since many Malaysians working in Klang Valley is still saying that it’s impossible to use public transport and they want a car instead…) and the remaining 30% will be for all other expenses lah. We still need to eat and pay for broadband etc right. Thus, a person earning RM5,430 who allocates 30% of the income for a car could afford a car repayment of up to RM1,600 per month. (Better buy cheaper cars and save the money yeah.)

Three scenarios in case everyone stops buying new property as it is just too expensive.

#1 – Property developers will all go into some other industry. No point in building anything if nothing gets sold… right? Build and sell higher is impossible since prices already super high. If they build and sell low prices, they may be looking at huge losses since land prices would definitely be up and more.  Start imagining… those big developer brands… all announcing they are going to exit the property market and will do something else altogether. Possible?

#2 – Everyone will just stay at the current place since no new properties will be built.  Property development is no more but population is still growing. So, maybe more and more people will be staying within the same unit?  This will help to keep the rental cost down for everyone since now more people will share the rental for the whole unit versus 2 or 3 previously.  Can imagine this happening?

#3 – Banks will become smaller. Usually lending to home purchases would be a big chunk of all their loans. Now they will have to find some other loans to focus on. Perhaps they will then have a bigger chunk of all their lendings from the personal loan then? Whoa… scary yeah. if you are the bank, you lend to home owners, there’s still the home to auction if things go bad. If personal loan… I do wonder what will happen.

More likely to happen?

Instead of the above, more likely to happen when property prices went up to unsustainable levels is that the property market will collapse lah. Please always remember that property market will always be supported by the fundamental; income of the people / households.

If the prices rose too high and too fast, property bubble will start building and very soon when it’s no longer sustainable, the property prices will just collapse and the whole market will again try to find a new benchmark. Seriously, do we want this to happen?  When property market collapses, it’s a financial crisis yeah.

This is why property prices will never become unaffordable. Unless… Bank Negara Malaysia (BNM) did not take pre-emptive steps to prevent property bubble.  The government also totally ignored all the signs of a property bubble and did not rein in property prices.

All the property experts refuse to write / speak about the potential bubble and prefers to keep taking money and kept saying good things about the property market and misled many property buyers… At the moment, I did not see that happening. Some more, there are today still over 30,000 of overhang units…

Plus secondary market is still extremely vibrant… So, at the moment, there are no signs that property prices will suddenly become totally unaffordable to everyone. Happy understanding.

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Unbelievable! One public listing. One company. Total valuation of US$225 billion

That one company is Jack Ma’s Ant Group. That listing is a simultaneous one in both Hong Kong and Shanghai. That estimated valuation is US$225 billion! (RM937 billion). If we want to have a sense of comparison, Toyota as a company has a valuation of around
US$200 billion. (click here to read)

This seemingly unbelievable listing was
reported in business-standard.com
  According to the report, this listing will make Ant Chairman Eric Jing and another 17 current and former Alibaba and Ant executives into the rank of billionaires. As for Jack Ma, he currently holds 50.52% voting rights in Ant but he said he intends to reduce his economic interest in Ant to a maximum of 8.8% and he is DONATING 611 million shares to charity.

Ant also operates services that dole out small unsecured loans: Huabei (Just Spend) and Jiebei (Just Lend). Huabei focuses on quick consumer loans for purchases of iPhones and fridges, while the Jiebei finances anything from travel to education. Ant made loans to about 500 million people in 12 months through June. It is now applying for a license to set up a consumer finance company. This will allow Ant to lend 10 times of their capital and this is far higher than the current 2-3 times of Ant’s existing micro-loan companies. Please do read the full and comprehensive article here:
business-standard.com

For all the employees of Ant group who has worked hard for this day, congratulations. Happy spending the money yeah. For the charities which will get the free shares from Jack Ma, please do your very best for the community yeah. Anyway, I did not find anywhere stating the date of the listing. Probably needed to wait for an auspicious date in the near future. ‘Vaccine’ may just be the keyword every company going for listing will also be looking forward to hearing as well.

This is s a great news for Asia I think if all these new millionaires (employees) and billionaire executives spend their money here as well. I just want to reiterate again that this decade or even next decade, it’s definitely ASIA’s time to shine. Whether it’s the second largest economy or even that super potential India and within ASEAN, our very own big brother, Indonesia. This is the time for integration and economic growth in-tandem for all. By the way, the European Union (the EU) started in 1993 and even if it has its weaknesses, it has helped the EU with the same voice when they are negotiating with the world. Let’s just see how close we could become yeah. Happy anticipating.

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