Landed, branded and starts from RM621,800?

If you are working in KL and wants a landed property close to city centre, this is not the property for you. For the price, the distance can’t be too near to KLCC lah. However, if you really like landed and do not mind some driving to work everyday while your family is enjoying themselves in a community development, this might be for you. Yes, I have personally been to the actual development. Lots of green even if I still think more huge trees may be needed because it still feels hot. Perhaps time may help. The below would be the press release for IJM’s Livia Type A.

— start of press release —

IJM LAND LAUNCHES A NEW PROJECT

 AT ITS BANDAR RIMBAYU TOWNSHIP

Livia Type A double storey link homes offer buyers the opportunity to live in
a well thought out community development

What do we look for, when deciding where to set up home? Comfort is often the key factor; this can mean anything from being secure in your surroundings to having your favourite amenities close at hand. Of course, what would be ideal, is to have both these needs met, along with a few extras such as a pleasant environment to raise your family in.

IJM Land believes in ideals; the popular developer also believes in providing its home buyers with properties that fulfil the unmet needs of an evolving society. Which is why IJM Land’s Bandar Rimbayu township has been meticulously planned with a sense of community at its heart.

The latest development to be launched at Bandar Rimbayu is the Livia Type A double story link homes with gross built-up of 1658 square feet (intermediate unit) to 1854 square feet (corner unit), depending on the layout. Only 118 units of these homes are available, and IJM Land expects that the Livia properties will be eagerly snapped up given the popularity of their previous launch, the Penduline parcel homes, which have been 75% sold since that launch in February 2016.

The Livia Type A homes are attractively priced starting from RM621,800 for the intermediate lots, making them very affordable for the first-time property owner. And in recognising that new property owners are likely to come with a growing family, the Livia Type A homes have a generous kitchen area that will easily accommodate the renovation to add an extra rom for new space needs.

Managing Director of IJM Land Berhad, Edward Chong Sin Kiat explained that the concept of Bandar Rimbayu is built on the foundation that people these days yearn for a sense of community around them.

“We feel that there has been a paradigm shift in the way that people are looking at their lives. It’s no longer just about the rat race, and coming back to a lonely apartment and trudging through the daily grind. There is an unmistakable longing to be part of something bigger; to have family around you, to be surrounded by verdant green spaces, and to lead an active lifestyle. That’s what Bandar Rimbayu aspires to be; a safe, vibrant, inclusive community where there is true meaning to the work-life balance,” he elaborated.

The Livia Type A double storey homes will be ready for occupancy by mid-2019, and by then, various amenities will be up and running. Bandar Rimbayu’s social hub – The ARC, which currently holds a green roof deck and football field – will be expanded to a Rimbayu Club Village. In the state-of-the-art clubhouse that fuses form and function to perfection, three distinct zones will contain club facilities, active functions and events, as well as communal activities. The Rimbayu Club Village will also be home to an Olympic-size swimming pool, a gymnasium, a cafeteria, badminton courts, a football field, jogging tracks, bazaar spaces and much more to enliven your body, mind and spirit.

IJM Land also recently announced that the Oasis International School is slated to open in the fourth quarter of 2017, and will house a capacity of nearly 600 students after its first phase is completed. The conveniently located educational facility, will mean that residents of Bandar Rimbayu will not have to battle the morning traffic in order to send their children to school.

In early 2018, the 1
st
 phase of the bustling commercial area will be ready, providing yet another element of convenience to the residents of Bandar Rimbayu. This, coupled with fibreoptic connectivity for every home, and a multitude of travel options through the five major highways – Kesas, LKSA, SKVE, Elite and the upcoming West Coast Expressway, makes the Livia Type A double storey home a perfectly balanced lifestyle solution for today’s young and upcoming professionals.

— end of press release —

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Landed for RM900K in Penang, buy?

A close friend asked if a landed property in Penang is worth buying. He gave me the project name. My advice to him was simple. I have not been to the project but if it meets three requirements, buying a landed property inside Penang island can never be wrong

Dimension. If you log in to propertyguru.com.my, search for landed and choose RM400,000 in KL, you would notice that there are still such properties! Landed for RM400K in KL?! Yes, but the size is 18 x 65. The width is just 18 feet which is very narrow. My personal opinion, make sure the minimum size is 22ft x 70ft. The reason for this is logical. Every household has a minimum of two cars these days. Thus if you park your cars side by side, you need a total space of about 18ft at minimum if you want to still have space to move comfortably. 22ft meant that everything is super comfortable. There is nothing wrong with 20ft width as well but your two cars should not be Segment D cars. 🙂

Location. Sorry yeah. Even in Penang island, location is very important. Location here refers to both area and surrounding. If you are paying RM1 million for your landed property today and in the future you intend to sell it for RM1.5 million, do you think the buyer would want to buy your landed property if it is surrounded by low cost flats? Alternatively, do you think they want to turn into a small lane from the main road and drive through village houses before they reach their property? Area is less important in future but should you think about selling in just a few years, then the areas loved by Penangites are definitely better. I have a friend who bought in Batu Maung for RM700K. His property is currently 50% up, selling for Rm1 million. I have another friend who bought a landed at an area where the flats surround the house and it has only appreciated slightly.

Objective. Please do not tell me your objective is to rent out while you wait for capital appreciation. If you intend to rent at a loss, then yes, your objective is clear. However, if you are thinking to rent for positive cash flow while waiting for capital appreciation it will not happen. Are you also ready to hold? If you are not ready to hold and have no extra funds to hold, then it may not be wise to overstretch yourself to buy such a property. Buying for rental vs buying for capital appreciation are two very different thing. It requires you to buy a different type of property too.

My friend will most probably be buying the property because it is JUST RM900,000. Until today, I do not own any landed property except that I offered to buy the house I stayed for the first 10 years of my life in Teluk Intan. Yes, I offered to my mum. Haha. My objective is also clear. Buy the right size, minimum 1000sf, buy at undervalued locations and objective is to rent out for positive cash flow while waiting for the appreciation which I assumed to be just same % as the inflation. Thus, I only buy condos.

written on 10 jan 2014

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Landed homes getting smaller, can we park 2 Honda Accords?

If we are alert with new launches of landed properties, we would have noticed that landed homes are getting smaller. Especially the width. The question is this, with the ever reducing width, “Can it park two cars?” Specifically, two Honda Accords?
Image below comes from honda.com.my

These days, when most people talk about landed home, they are usually referring to double-storey terrace units. Typical sizes may be 20 ft x 70 ft, 22ft x 75ft, 24 ft x 65 ft etc. In fact these days 18 ft x 70 ft may also be quite common and will be more and more common because the developer needed to make these homes affordable. If you do not know why, this is a super brief explanation.

Total homes which could be built on a land with 360 ft length

Assuming the total length of the piece of land is just 360 ft. If the developer builds 20 ft wide homes, they are able to build 18 units. Assuming they needed to price it at RM700,000 to be profitable, the developer also had to ensure there are enough buyers who could afford RM700,000. Total Gross Development Value (GDV) is this RM700,000 x 18 units = RM12.6 million.

Total homes which could be built if they built it smaller

by just 2 ft

What happens when they build 18 ft wide units? With the same 360 ft land, they could now build 20 units. instead of just 18 units. If we use back the same GDV of RM12.6 million, then every unit could now be priced lower. RM12.6 million divided by 20 units = RM630,000. This meant more people could afford to buy the property and forego the extra 2 ft since 18 ft is still wide enough. Right? Let’s look at some numbers below.

What’s the size of a typical car park width in a car park?

Usually, it is 8 ft. It could not be 7ft because this would be too small for a typical car. For example, a Proton Saga’s width is 1,689 mm (5.54 ft). Once it parks itself into a 8 ft wide car park, both the doors could still be opened. If it’s a 7 ft width, then only one door could be open for the passenger to get out of the car comfortably. It would have to park very close to the line on the left side in order to do that.

18 ft wide home car porch to accommodate 2 cars (even Honda Accords too if truly necessary)

Please refer to the image below showing a car porch and the typical length and width of two Honda Accords in a 18 ft wide home. If the owner has two Honda Accords and he could park the car VERY PROPERLY, then he could leave nearly 2ft between the car to the wall and the car to the car side by side and then to the other wall. It’s really a little tight but yes, doable.  Do note that if there are two pillars in the car porch, then the below will become even tighter.

I also show the typical size of a Proton Exora which is actually smaller in length and width versus a Honda Accord. This means that if you own two Proton Exoras instead of two Honda Accords, then parking them are slightly easier. If both your cars are a smaller MPV (example Honda BRV or Toyota Sienta), then it will be even easier to park both cars in an 18 ft wide home.

Of course, for families with one bigger car and one smaller car, you can see that a 18 ft wide home can accommodate you easily too. By the way this is also why most homes are now 18 ft wide because the developer knows that they need to allow a family to park two cars and they know that is a typical minimum nowadays.

If given a choice, buying wider is advantageous too

If we are presented with a choice of 18ft, 20ft, 22 ft and 24 ft, buying the widest we could afford is advisable because in the future, the size would only go smaller and not bigger. In other words, wider homes will become much more uncommon because of the pressure from price. The higher property price becomes, the smaller a home will become in order for the home to be affordable. This is also the reason why you can start to see high-rise homes even in newer townships further away from the city centre too.

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Landed homes for just RM356 psf by IJM in Klang

RM625,000 for a two-storey landed terrace? 20 x 70. With built ups of 1,751 to 2,021 sq ft and from IJM Land Bhd? Of course, let’s not expect this to be in Mont Kiara or even Kelana Jaya. This is in Bandar RImbayu in Teluk Panglima Garang, Klang. IJM said that ensuring relevancy in a slow market is very important. This is why it is also offering such an affordable price for a landed property. This is Penduline, the first phase of the township’s Fauna precinct. Total units would be 625.  two-storey terraced homes in a 54.95-acre leasehold parcel. The homes are priced from RM625,000, or RM356 psf, with built-ups of 1,751 to 2,021 sq ft and land area of 20ft by 70ft each. Another sales incentive for the units include a 12 to 24-month instalment plan that covers part of the down payment. This is for buyers who uses their RHB, Maybank or CIMB credit card to pay the amount.

According to IJM Land’s managing director, the price is considered very attractive as even some condominiums in the Klang Valley is already priced at between RM700 per sq ft to RM800 per sq ft. Penduline offers buyers a chance to realise their dream of owning a landed property. He said this price is going to be hard to find today in the Klang Valley. The project is also targeted at young families and couples from nearby areas including Kota Kemuning, Putra Heights, Subang Jaya and Puchong. They should have a household income of RM6,000 to RM8,000 and may now be staying in a high-rise looking to upgrade to a landed property.

Bandar Rimbayu is a huge development of 1,879-acre and is connected to five major highways, including Lebuhraya Shah Alam (Kesas) and Lebuhraya Kemuning-Shah Alam (LKSA), which links Subang, Petaling Jaya, Damansara, Kuala Lumpur city centre, Puchong, Shah Alam and Klang. It will also be linked to Putrajaya, Cyberjaya and Kajang via the South Klang Valley Expressway (SKVE), while Ekspresway Lingkaran Tengah (ELITE) will provide access to Kuala Lumpur International Airport and the southern region.

Penduline will have a 5.7-acre park, with amenities such as a lawn park, 730m walkway and futsal court. It is not a gated and guarded project but IJM Land said that it has designed the project with a single entry and exit point to facilitate the implementation of a guarded scheme. This will be implemented once the residents have moved in and voted to do so. I think this is a good move. Easier and simpler too though the buyers should preferable understand the significance and importance of such a scheme. I know that some may point out that the units are slightly smaller than the usual but for those who must buy landed, then no matter how we compare, the price seems pretty reasonable. Happy deciding.

written n 17 Nov 2015

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Landed homes from RM513,000 onwards by S P Setia, this weekend.

If your idea of an ideal home is a landed one, there is another launching this weekend. Final weekend of May 2018. if you have a limitation in budget but as a couple, you could afford up to RM550,000 property, then this is one for you. Last but not least you prefer to buy from a developer which has been around for a very long time, then he following may be worth driving over and deciding after you have seen what’s really available in the neighbourhood. S P Setia will be soft-launching the Barras starter homes in its Setia Ecohill 2 township in Semenyih, Selangor. Barras is the first of the starter homes series in the township, comprising 114 units of 20ft by 70ft 2-storey terraced homes priced from RM513,000.
This is as per the news in Edgeprop.my

The terraced homes will be completed in the third quarter of 2020 (3Q20). It features two types of layout — 4 bedrooms and 3 bedrooms. Setia Ecohill general manager Koh Sooi Meng said, “We understand that security is one of the biggest concerns for every homebuyer. With that in mind, every home will be equipped with a home alarm system within a guarded and fenced community to ensure peace of mind for residents.” The development will also be policed by the auxiliary police for community policing to further enhance the safety of residents within the township. He added, “We are confident that the take-up rate for Barras will be a positive one due to the attractive pricing, especially for a freehold landed property, as well as plenty of other factors such as security, infrastructure and amenities.”

According to the press statement, it is possible for young homeowners to purchase the homes for less than RM500,000 after applying discounts and rebates that are part of S P Setia’s Easy Home Ownership Package. There will also be 7 percent bumiputera discount and early bird rebates. The developer will also fully absorb all incidental costs including the legal fees from sales and purchase agreement, loan agreement and memorandum of transfer. Just bring a cheque of RM1,000 payable to Setia Ecohill 2 Sdn Bhd to book a unit in order to enjoy
the early bird rebates. Happy dropping by yeah.

written on 24 May 2018

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Landed, Kajang. RM500k to RM600k.

A friend showed me his future Kajang home which was bought for his retirement. He said his wife and him would be walking in the park within the development. I added, ‘how about hand-in-hand under the stars?’ He just laughed. Anyway, it piqued my interest to take a look at Kajang which has never been a choice because I felt it is just, far. I did not even have any friends staying in Kajang. Yes, somehow I look at this as further away than my current place in Damansara Damai. So much so that I was willing to pay almost the same amount for a condo instead of a landed in Kajang! Some of the available LANDED terraces between RM500,000 – RM600,000? Refer to the image for some of the the some latest property listings in iproperty.com.my

A check online with Googlemap showed that Kajang is approximately between 28 – 36km away from KL city centre, depending on which Kajang project you are buying. Of course, the newer ones would be closer to even areas like Semenyih. In terms of distance, not too far away, really! Without jams, it will take lesser than 40 minutes to be in the city centre. Of course, the only issue would be the jams in the morning. To reach the city centre, one has to pass through areas such as Seri Kembangan or Cheras which meant that to really escape the jams successfully, arriving in the city centre before 7am might be best.

Another check with propsocial.my gives additional overall information about Kajang. Take a look at the image.
With the upcoming Bandar Kajang MRT, an alternative may be available and the duration for travel may now be shortened tremendously. The stress level too. Yes, we must also decide based on the affordability factor versus the landed attractiveness. My friend, the one who’s moving to Kajang is currently staying in a PJ hotspot and he said that his current home which is smaller than the Kajang project is at least a few hundred thousand ringgit more expensive. I think for him, it makes a very good investment sense. When the time comes, just sell his current home for a huge profit and move to Kajang. Take the MRT and have it easy.

So, if landed is your cup of tea, do note that Kajang would soon have three MRTs. There’s no need to ask me. I am happy where I am and I think I may have to wait for my property to appreciate a few hundred thousand ringgit before I can consider moving to somewhere bigger and further away, again. I did move from Kelana Jaya which was 16km away from my office to current 22km away. No guarantee where I would be moving next. Only profits would tell. Haha. Happy investing and enjoying your next property.

written on 20 July 2015

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Landed in Penang? Be prepared with lots of money

When we look at the Penang’s market, we can see the real demand versus supply in real action. The reason I say so is because despite the property transactions declining, the prices of landed properties, especially within the island and especially only in that few hotspots continue to rise. Datuk Jerry Chan, the Real Estate and Housing Developers Association (Penang) said that prices of landed residential properties is rising and there are no signs of distress buyers yet. Land scarcity remains an issue and land prices are moving faster than property prices. Due to this, one can choose to pay EVER HIGHER for prime locations or move away.

Where are some of the ever higher places? According to CH Williams Talhar & Wong’s (WTW) in its 2015 Property Market report, prices of newly launched, landed residential properties in Penang continues to set new benchmark. Older residential units in established neighbourhoods such as Greenland is still very sought after despite the very high asking price. While he did not say but let me say that these more traditionally Penang areas are loved very much by Penangites. It is not necessarily the top choice for the migrants from other states who are working in Penang. For now, majority of landed residential properties are focussed in Seberang Perai due to the much lower land cost in comparison. According to National Property Information Centre, there are only a total of 36,795 units of landed residential in Penang. This simply meant if you own a landed property today, you will do just fine when you need to retire!

From all these reports, one thing is for sure. In Penang, island side remains a great prospect. Within the island, the landed property is even more valuable. If that location is an established one, then that property has now become a hot asset. The simple conclusion for those who just cannot accept high-rise developments and must stay in landed property in an established neighbourhood within Penang island? Be prepared, with lots of money. Happy buying or keeping one today.

written on 27 Mar 2015

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Landed properties within Penang island? Hard to go wrong.

Anyone favouring a landed property within the Penang island? With this question, I can see majority putting up their hands but a few would then ask, which part of Penang island? If it’s Greenlane, I can see 10 / 10. If it’s in Sungai Ara, suddenly, half of the ‘original’ Penangites would put down their hands. Haha. Maybe now the acceptance is higher but when given a choice between Greenlane and Sungai Ara, the choice is obvious. Then the price of the property comes into the picture and suddenly those who put down their hands may put their hands up again. After all, Sungai Ara is pretty close to both the bridges, thus providing access to the world outside, right? Now, what if the area in question is Balik Pulau? Laksa, durians and Ais Kacang comes into the mind but modern housing developments? Not really? I think many would be missing many of the actions if the mindset remain the same as many years ago when Sungai Ara would have elicited the same reaction.

Honestly, have you ever been to some of the Balik Pulau developments before? Going up from the Relau area, it takes about 20-25 minutes, depending on how fast you drive to reach your lower priced landed properties within the island of Penang. If you go up from the Teluk Kumbar side, it should take between 16 – 20 minutes. One such development that I have been to before and is still continuing its development phases would be MTT’s Botanica CT residential project. The price when i visited it many years ago? RM290,000 for landed terrace. There’s no such pricing these days even if it is still considerably lower than other more popular areas. For now, the land availability is still there, thus you do not yet need to picture modern condos. You can think about nice landed developments of terrace houses priced from RM680,000 onwards and with a built up of 1,959sf for the two-storey and up to 2,480sf for the three-storey terraced ones.

Now for the usual question. Can buy for investment? Well if you had asked 5 years ago, the answer is Yes. if you have asked 3 years ago, answer is still Yes and if you ask today, answer is still yes. However, if your investment entails renting out the units, it will not be easy. The whole Penang island itself, rental is never easy. Furthermore, it’s very low and you would not be able to cover your mortgage unless you are very well connected to the new expatriates coming to work in Penang. I feel that the best would still be to buy and stay instead because until today, Balik Pulau has fresher air compared to many congested areas in Penang. I would not mention those areas.

What about the distance and the duration? Well, let’s be objective. If you work in town, get real, Balik Pulau is a tad too far away. This is the same as if you work in Bayan Lepas, why would you want to stay in Tanjung Tokong, even if everyone tells you that the water supply in Tanjung Tokong is cleaner? (Yes, not a joke, my Tanjung Tokong friend told me this when I bought my Sungai Ara condo many years ago). The jams within Penang island between the route from Tanjung Bungah till Bayan Lepas will get worse and not better. Make up your mind and choose accordingly. Oh yeah, please do get ready for the usual 40-minute to reach home journeys moving forward even if the distance is just a few kilometres. If you are working at the other side, buy the other side and if you are working in Bayan Lepas area, then Balik Pulau is indeed another potential choice. Whether it’s the best for you or not, that’s your decision after you have taken a look. Happy ‘Landed’ buying.

written on 3 Dec 2014

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Landed versus Condo

I admit first, I am slightly biased since all my properties thus far are condos. However, everyone loves landed property. I think this is very true, especially in Penang island. Due to the limited land size, anyone who owns a landed property is looked upon differently from those who can only afford a condo. Two things comes to mind, the space and the immense potential capital appreciation. The only thing you can’t grow is land. Ok, perhaps you can do a bit through land reclamation.

Think a little deeper, the two things apply to condo as well. 🙂

The space – Yes, it’s true, typically a terrace would be 20 x 70 = 1,400 sf and a semi-de is even bigger.  You also get a car porch for two cars. 🙂  If you look at the condo market in Penang, there are lots of choices around for similar sizes and if you are willing to pay a little premium, you get 2 car park lots.

The immense capital appreciation – If we focus on just the island itself, Penang is an island of which one end to the other would take 45 minutes or lesser depending on traffic and how fast you drive. On one side, Tg Tokong, Tg. Bungah, the price for condo is as high as RM1,500 psf. In Jelutong / Queensbay area, the prices have reached RM1,000 psf. However, in Bayan Baru or Sg. Ara, the prices ranges from RM500 – RM600 psf or even just RM450 in Relau.  Penang population will be growing by another 400,000 within 7 years.  Do you sincerely think prices would remain same in the next 5 years?

With condo, you enjoy the following too. Cheaper to buy, facilities for you and your loved ones, tighter security and better rental yields. I am not advocating that condo is better than landed or the other way around. There are many condo owners of Regency Heights who sold for a huge profit and moved to SP Setia’s Sg. Ara landed development. I love both, sincerely. Seriously though, I could only afford condos. 🙂

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Landed vs Condo II

Someone who read my article said, ‘The maintenance fee in condo is the negative part’. Truth is, I also feel the pinch because if you stay in the typical landed property, there is no maintenance fee to be paid. I admit, on average I have used the gym just once per month last year. I have been to the pool just twice last year. I have just done 2 brisk walks per month around my condo last year. Thus, in total, I am really paying a lot when I compare my usage versus my maintenance fee.

Nevertheless, let us look at it this way. When you sign up for a gym nearby your office, do you go there often? My guess is of course! However, when you start to slack a little, do you terminate your membership immediately? Why not? Perhaps the reason is, you feel that one of these days, you’ll be active again and thus the membership is necessary instead of you signing up as new member again.

The maintenance fee that you pay ensures that when you need to be away, there are security for your family via the guards and working security systems. It ensures you have a pool when you suddenly feel that you MUST SWIM on that day. It meant that you can invite your close friends over for BBQ just that one time a year. It ensures your condo is looked after and thus ready to sold when you want to upgrade. 🙂

Most importantly, when all these are done right, the price of your condo would go up every year. Let’s assume just a conservative 1% up every year? For a RM500,000 condo, it’s a capital appreciation of RM5,000 per year. If I am paying RM2,500 maintenance fee per year, get to enjoy all the facilities and security, I will pay. This is just my personal opinion.

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Landed vs High-rise. Buy which one? Why need to debate yeah.

The debate about landed vs high-rise.

Every time someone tells me one more time that landed is better than high-rise, I will smile and ask what do they actually mean? Better to raise a family? Better as in capital appreciation? better as in rental yield? Better as in they just want to be right? For the last reason, of course I must let them win. Everyone should have their very own perspective about things. Let’s respect that. As for all the other reasons, let me just say that all of that depends on many other factors too.

#1 Better to raise a family.
  Take ‘better to raise a family’ reason as example. I used to be allowed to run around my taman when I was younger. I could even ride my bicycle around my taman to buy noodles every morning for breakfast when I was 9 years old. How many of the 9 year old kids could do these nowadays? Of course, if it’s a fully gated and guarded township and very safe, perhaps this is still possible but how many could afford these very well-built and planned townships these days?

If it’s just a landed home without facilities, where would the kids even be running around? In the car porch? At the very least in a condo with facilities, the kids would enjoy the pool, the playground, the running track and well even running around the whole condo within the condo which could be easily 1km if not more.

#2 Better for capital appreciation? Let’s not debate.
 Let’s just look at the actual numbers as below. Image Source: NAPIC Malaysia.

Do we see ONLY the landed homes having capital appreciation? All the high-rise are all stagnating or reducing in price every year? Seriously, when landed homes kept moving up in prices, that’s why more high-rise would have to be built and that’s also why the prices would also move upwards because of material, land and construction costs.

#3 Better in rental yield?  Of course this one usually they will say high-rise is better.
 Ever wondered why? Well, the price plays an important part. A RM500,000 landed home could be rented out to a couple or a family or even a single working professional BUT the rental they are willing to pay would only be the SAME as the rental they are willing to pay for a typical high-rise too. The price of a high-rise is usually lower than the price of a landed home. That’s why rental yield is always better than the landed home. Other reasons also include the fact that if I am a single working professional, I would feel too alone to stay in a double-storey landed home too. Maybe just me…

Buy whichever you like, no need to try and convince the others that your choice is better.
 There’s a reason why they say one man’s meat is another’s poison. If we feel very comfortable with a landed home even if it’s not a gated and guarded development, by all means buy a unit and make it our home sweet home. Say hi to neighbours. Go for morning walks around the area and meet new friends. Walk to nearby shops. My parents did and many others did as well. It’s just a preference.

If we believe a high-rise meets our expectations in terms of more space for the kids to run around, for that crazy family time during the weekends at the swimming pool, then go and get that high-rise. And accept the fact that after parking the car, it will take another 200 steps to reach the home, maybe more. Accept the fact that there are maintenance fees to be paid. Many more yeah but hope everyone gets the idea and just love what you love. Happy choosing!

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Landlord may go to jail for tenant’s criminal activities. 6 months to 5 years!

Landlord may go to jail for tenant’s criminal activities.

I learnt about this landlord going to jail for tenant’s criminal activities a few years ago when a unit in the block opposite my close friend’s condo unit in Penang was raided by the police. It was said that the unit was used as a drug processing centre. Of course, I do wonder how advanced is a drug processing centre.

That was when I read that it’s possible for the owner to also be charged in court for the illegal activities carried out by his / her tenant(s). Now, we have another article reminding me, so I think I should share it here. it can also be a reminder for me as well.

Who were my tenants when I was the landlord?

Well, they range from doctors (yes, close to half were doctors), engineer (who went on to buy a landed home after renting from me for a few years), purchasing executive (who is now a manager with a MNC), new lawyer (who is now a consultant with a GLC), franchise owner (this shop I like too), engineering students (whose mother came to sweep the floors on their last day) and more. Somehow, all of them except for ONE (1) were all good people.

Okay, if you are a landlord, it’s best to know who your tenants are, okay? Else, the below may be a problem for you.

Photo by Andrea Piacquadio on
Pexels.com

Article in nst.com.my
  HELP University Faculty of Business, Economics and Accounting and Institute Crime and Criminology senior lecturer R Paneir Selvam said that landlords can be held liable if they allow illegal activity such as storing illegal cigarettes on their property. Many are choosing to ignore tenants’ backgrounds due to current economic upheaval.

He said, “This is especially so, especially if they are offered above the market rate or paid twelve or twenty-four rentals in advance,” adding that such crime is punishable under Section 135 of Customs Act as well as Section 107 and 108 of the Penal Code.

He said, “This ignorance or oversight will often land them into trouble as there are multiple reports of tenants using warehouses or private homes for nefarious activities such as storing contraband goods like cigarettes.”

He also said that if the landlord knows that his tenant is using his residence to conceal illicit cigarettes, not only the tenant but also the landlord as the owner of the house, can be charged under this subsection, which carries a minimum fine of RM100,000 or minimum imprisonment of not less than 6 months and not more than five years or both.  Please do read the full article here:
Article in nst.com.my

Due Diligence needed and it’s not for criminal activities alone

A bad tenant will be very hard to remove as well. Here are some tips for your reading yeah.
10 logical steps in choosing a tenant
. If you do not feel good about a tenant, just remember that your hunch may be right. There are tenants from hell as well and they may just be damaging everything inside your home making our losses way higher than the rental we received.

A good real estate agent is certainly helpful in assessing the potential tenants too. I would not recommending trying to do it all by yourself yeah. There are certainly reasons to pay the necessary professional fees. Happy renting out yeah, future landlord.

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Landlords and Tenants? Be good to one another yeah.

Many months ago when I could still have dinner with good friends, I was at this restaurant with a good friend. Not the best environment but food was good and price was reasonable too. Restoran Hoe Mun Kee PJ Steamed Fish Head (non-halal).
Click here for the google map.
Food images below. He was sharing about his friend who was angry with his landlord for NOT giving discounts during this COVID-19 period. His friend said that all landlords should understand their tenants and should help the tenants! Landlords are richer than tenants!

Tenants have the upperhand, perhaps.

Ever wondered what may happen to tenants who threaten the landlord with moving out? When landlord asked for proof if the tenant was also in financial trouble and the tenant asked back, “You want to give or don’t want to give? If you don’t want, I will move out.” What can the landlord do if he is faced with such an unreasonable tenant? NOTHING. Absolutely nothing during this COVID-19 period. This is the
National Recovery Plan. (click to read)

Everything is however a cycle

However, ever wondered what may happen to tenants who threaten the landlord with moving out must note that property market is always in a cycle. What comes down will go up and a bad day may become a good day next year. Now, a landlord may still continue to rent to an unreasonable tenant because it’s super tough to find a new tenant. However, when the market comes back alive, the landlord will give notice and ask you to move. Remember, they will remember what the tenant did. They will be very willing to take a new tenant when market returns, even if it’s for the same rental amount or slightly lower.

What about an unreasonable and foolish landlord then?

If a landlord knows that his tenant was not doing well. Maybe he has lost his job? If he knows the restaurant was really doing badly. No dining means businesses all go down. If the landlord knows all these but still forced the tenant to pay full rental, then rest assured that if the tenant could, they will move. Once they move, it will be very hard to get back a good tenant, especially if this tenant has always been paying on time. Be good landlords. When they need help, please help them. What goes around comes around. It’s always a cycle.

Landlords always have the long-term advantage

The property price which was paid 10 years ago would be lower than today. It’s caused by inflation. Not necessary because the property has higher value, just higher price. The rental for the property then may be lower but today, it will follow today’s market rate. Someone who bought today or just a few years back may suffer negative returns if they rent at current rental rates.

However, someone who bought 10 years ago could afford to rent lower than today’s rate and they would still be fine. In other words, they could give discounts to the tenants if they were threatened. However it is also true that they have the flexibility to take a new tenant and terminate the current tenant when the opportunity arises.

Be a good landlord and a good tenant. Both are gems.

Fortunately my tenants are good people. I am grateful. I do think they love me as a landlord too. Whenever there are problems to be fixed, I take the urgency route (means I solve as early as possible) versus the delay longer (so that I receive rental first before I get it done).

Good landlord example? When the air-con broke down after 8 years, I bought a new aircon and have it changed versus having it repaired to save money. My tenant was delighted because he thought he would need to be without aircon for a few days. I fixed it within 24 hours. (Of course also depends on availability of the technician to fix the aircon too)

Good tenant example? Tenant called and said the door knob was broken. I apologized and said he could get a locksmith to change it and that he can send me the bill. He did not respond and 2 days later, showed me the door knob has been fixed. He said he bought a new door knob, took out old one and installed the new one. Only RM22 for the new door knob. I told him to minus from the rental but he said, it’s okay, just normal wear and tear. This is a WOW tenant for me.

The purpose of this article is to tell you that if we have a good relationship with our landlords, they would definitely reduce the rental if they know you have pay cut / loss of job. if you are a WOW tenant, everyone loves you. If you are a good landlord, surely your tenant would love you too. Sometimes, good to think why they don’t like you…

However, if the relationship turns sour, just remember that one is known as LANDLORD and the other a tenant.

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Landlords slash rents to ensure properties stay occupied

It’s not an easy time for landlords currently. If you are a landlord, did you slash rents in 2020?Pressured by your tenant who said they MAY MOVE OUT? Many friends said they did; slash rents. This ranges from 30% to 50%. Number of month ranges from 3 months or higher. Imagine the landlord would now have the fork out money since their rental could no longer cover monthly repayment.

Some said they even gave a few months of free rental to their tenants too. Perhaps it’s important to let everyone know that they are not alone. Landlords in London’s most expensive areas were also facing pressure. Many landlords slash their rents to rent out their units or they may see their properties stay unoccupied.

Photo by Pierre Blaché on
Pexels.com

Article in nst.com.my
  We could see in the image below that London’s high-end sales market is not positive. In fact the numbers are usually below zero (means it’s negative).

Marcus Dixon, head of research at LonRes said, “It’s probably going to be another few months of accepting lower rents than maybe you’ve historically got. It’s just about the need for landlords to ride this out.”

The image below shows the typical average discount off initial asking rent.

Do read the article in full here:
Article in nst.com.my

Indeed, it’s a time to ride it out

It’s not just landlords. Even home owners may be facing pressure of paying their mortgages if their company did not do well and they were asked to accept lower pay. It’s everyone, it’s many businesses. It’s across many industries even if there are industries which are doing well. Indeed, this is an unprecedented time and no one could anticipate how long the effects from the COVID-19 would last. This is really the time which everyone would need to ride it out, somehow.

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Construction industry in Malaysia amidst effects of COVID-19? Any shortages of materials?

These days, when we are buying something online and the country of origin is China, it will take a far longer time for the delivery versus the days before COVID-19. The reason was because of the lockdown in many cities in China and thus this has affected the logistics and connectivity. In fact many may also want to avoid buying the items for now, just in case. What about the construction industry here in Malaysia then? Are we affected by these lockdowns? Do we get a lot of materials from China when we build new high-rise developments here in Malaysia? Even for Chinese developers from China?

Article in theedgemarkets.com
  Master Builders Association Malaysia (MBAM) and Real Estate and Housing Developers’ Association Malaysia (Rehda) said that most local developers use materials that are sourced domestically, thus the impact is minimal for now. Both however says that should the lockdown period is prolonged, then there are possibilities that the construction may be affected.

MBAM president Foo Chek Lee said, “In fact, there is a surplus of cement and steel in the market. Meanwhile, products like hot and cold rolled coils, flat steel and aluminium — mostly for, but not limited to, architectural finishes — could be imported from China due to the cheaper price. Depending on the product, other source countries for building materials are South Korea, Japan, Turkey, Indonesia, Thailand and Vietnam.”

Rehda president Datuk Soam Heng Choon said, “Finishing materials such as tiles, sanitaryware and mechanical and electrical fittings and equipment could be imported from China. However, some of these materials are available locally, with some raw materials or components being imported from China. Developers constructing high-end products may opt to source their tiles and various types of finishing materials from Europe, such as Italy or Spain.”
Please do refer to the full article herein theedgemarkets.com

I think it’s a good news for many home buyers then. The schedule for the delivery of their homes should not be affected amidst current Covid-19 situation. As for all the developers, I think this will also make them realise that it may be best to diversify their sourcing of materials versus just coming from one cheapest source, wherever that may be. I still remember my conversation with one purchasing manager way back in the 1990s on diversification of sourcing.

“Mr XXX, you can choose to buy from that cheapest brand. There is no way that my company will be able to match it as our parts are from Japan and of much higher quality. However, if you do not buy at least 20-30% of your needs from me, it will be impossible for us to support you if the shortage happens suddenly.”  The purchasing manager gave me a small purchase order and suddenly due to the Y2K fear, the manufacturing sector faced shortage from electronics part and he was very happy with his decision then. Well, allthese are just cycles. Even for investments, strive for diversification and not putting all eggs into one basket.

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Press Release by IOI Properties:
Lane closure on Lebuhraya Damansara-Puchong for upgrading of Bandar Puteri Puchong Interchange

Lanes along Lebuhraya Damansara-Puchong (LDP) for both northbound and southbound directions near the Bandar Puteri Puchong Interchange will be closed to traffic on early Saturday morning to facilitate steel girder launching works. This RM20 million interchange upgrade by IOI Properties Group Berhad is part of an ongoing RM63.9 million traffic enhancement project for Bandar Puteri Puchong. It is aimed at enhancing connectivity of Bandar Puteri Puchong and improving traffic flow between LDP and its neighbouring townships.

For northbound traffic to Kuala Lumpur/Damansara, the left and middle lanes of the LDP near the Bandar Puteri Puchong Interchange will be closed from 12:01am to 5:30am on 9 March 2019. The fast lane will remain opened during this period. However, the fast lane will be closed to traffic for 15 minutes when the steel girder is being lifted into place.

For southbound traffic to Putrajaya/Cyberjaya, all lanes on LDP near the interchange will be closed from 12:01am to 5:30am on the same day. Traffic will be diverted as follows:

• Turn left into Lebuh Puteri

• Make a U-turn opposite Giant Hypermarket

• Keep left and turn into LDP towards Putrajaya/Cyberjaya

Road users are advised to follow directional signages placed along the LDP. Please refer to Appendix 1 on the road closure.

For enquiries and updates, please contact or refer to the following: Customer Relations Unit: 03-8064 8833 (from 9am to 5pm on Monday to Friday) Email:
cru@ioigroup.com
 Corporate website:
http://www.ioiproperties.com.my
 Community website:
http://www.myioi.com
 Facebook:
https://www.facebook.com/ioiproperties/
 Instagram: IOI Properties Group

-END-

IOI Properties Group Berhad

Spanning more than three decades in the property development industry, IOI Properties Group Berhad (“IOIPG”) is one of the leading public-listed property developers in Malaysia. Over the years, it has successfully developed sustainable townships and commercial enclaves in sought-after regions of Klang Valley such as IOI Resort City, Bandar Puteri Puchong, 16 Sierra, Warisan Puteri Sepang and Bandar Puteri Bangi; and has established a strong presence in Penang (northern region) as well as Johor in the southern region of Malaysia. In the international scene, IOI Properties has achieved notable success in Singapore and the People’s Republic of China.

Apart from being an award-winning top property developer, IOIPG is also known for being one of the few integrated property developers that builds and manages its investment properties such as hotels, golf courses, shopping malls and office buildings.

The Group has a total development landbank of approximately 10,000 acres. Under its investment property portfolio, it manages a total of 6.7 million sq. ft. of lettable area, comprising retail, purpose- built office and others. These properties are mostly located in high-growth areas, which are well- connected, accessible and are centred within high population concentration. The Group owns five hotels with 4- to 5-star rating offering a total of more than 1,800 keys namely Putrajaya Marriott Hotel, Palm Garden Hotel, Four Points by Sheraton Puchong, Le Meridien Putrajaya and JW Marriott Hotel Singapore South Beach. The Group’s golf courses include Palm Garden Golf Club in IOI Resort City and Palm Villa Golf and Country Resort in Johor.

Corporate website:
http://www.ioiproperties.com.my

For media enquiries, please contact:

Belinda Liew
Senior Corporate Communication Manager
T: +603-8947 8888 (Ext: 6637)
belinda.liew@ioigroup.com
Chan Ching Thut
Corporate Communication Senior Executive
T: +603-8947 8888 (Ext: 6675)
ctchan@ioigroup.com

— end of press release —

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Langkasuka Langkawi starting in 2Q 2022 (development lah, not opening)

I am looking forward to visiting Langkawi a few times per year in the near future. Just like how it was before Covid-19 arrived. I know, you want to say but there’s nothing much to do in Langkawi after visiting it one time! Haha. Noted. I have also visited Bali a few times and I can also say the same thing yeah. Plus the fact that the sand in Kuta Beach is also not pristine white in colour yeah. So yes, I intend to do nothing much if I am in Langkawi again. We have latest update about this Langkasuka project.

Article in edgeprop.my
   First phase of Langkasuka will be developed over 4 years with an estimated gross development value of RM4.5 billion. The first phase will include an international standard and tournament-ready golf course by the sea, lush villas and resort homes, a shopping utopia going by Designers’ Brand Mall, a shopping bazaar known as The Langkasuka Village, a 5-star hotel and luxurious condominiums.

It is jointly developed by Widad Business Group Sdn Bhd (WBG), construction and integrated facilities management companies, and Bin Zayed International LLC (BZI), a leading conglomerate with diverse business interests in the international markets.

BZI is a leading conglomerate owned by Sheikh Khaled bin Zayed Al Nahyan, who is the senior member of the Abu Dhabi royal family. It is a Dubai-based conglomerate that specialises in construction and energy, trading and industry, real estate, technology and financial services. The company was first established in 1988. Please do refer to the full article here:
Article in edgeprop.my

Connectivity must be improved; flights yeah, not boats alone

If we like Langkawi to attract the tourists who could spend more and stay in all these more luxurious developments and even existing hotels, it will be essential to ensure there are flight connectivity between Langkawi International airport and the world outside. Else, we can continue to build more but it’s impact would not be maximised without the support of foreign tourists.

Golf Courses? Do we have flights to Langkawi from Japan? Pristine white sandy beaches? Do we have flights from countries without a proper white sandy beach? For example, the country with a man-made beach?  As per google, 800,000 Australians travel to Thailand yearly. Could we get 20% of these to visit Langkawi instead? If just 10,000 comes every month, that’s a minimum need for 5,000 rooms! All the best to attract more via flights. Of course, boats should continue.

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Langkawi, Affordable homes and 3G Broadband

I think the people in Langkawi would love to hear that there would be 1,000 new affordable units being built under PR1MA in collaboration with Langkawi Development Authority (LADA). In fact the prices are said to be 20% cheaper than the market rate. Ok, now the question of market rate. Actually, there’s not much benchmark to be found online. Most properties online are those which are nowhere near affordable. Perhaps more later but right now, some of the properties found online include:

So, I think 20% cheaper meant 20% lower than some of the rates stated for both the landed and the high rise. It will be build just 2km away from Kuah town which should be great. Means just few minutes away. Overall land size is 58.27ha and the 1,000 units would be built on a 22.25ha while the remaining would be for Phase 2 later on.

I always tell my wife that we should buy a small unit in Langkawi. My wife gave me a very good question. How many times would you be in Langkawi and how would I be maintaining it. She does not want to have to wash the house every time we are there just so that we can stay overnight for a few days. I think she is right. Anyway, there are also lots of hotels and the prices to me are still affordable except those very high end ones. I term high ends as anything above RM500 per night. Ok, I know that’s not considered high for many but to me, it’s high. Sorry yeah, I love clean and nice hotels and my needs are just a clean, nice and a spacious room. That’s normally quite easy to get below RM500 per night.

Many years ago, when I was in Langkawi, I was not connected most of the time. Otherwise the line’s too slow. In my last trip few months ago, the connection via my Celcom was close to 90% available. Speed was ‘manageable’ but otherwise, I was able to keep my self updated online. by next year, according to the broadband coverage plans, the tourists would enjoy 3G coverage in 90% of the whole island. While this is not that important because you are not supposed to be in Langkawi to go online but hey, better coverage is always welcomed. Yes, I am talking about myself though in my last trip, I spent just one hour per day online. The rest of the time, shopping, walking, carrying my baby daughter as she slept and more shopping. Haha. Must start looking at cheap fares again. RM150 to and fro should be sufficient, I think.

written on 15 Sept 2014

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Langkawi as a tourism bubble and zero Covid-19 cases, possible?

This was a recent piece of news about Langkawi as a test case for travel bubble.
Article in theedgemarkets.com
 There was an announcement that the government was studying the views and feedback from stakeholders on plans to make Langkawi Island a pilot project for a tourism bubble destination. Do read the full article here:
Article in theedgemarkets.com

Langkawi island will not be the first.
The mentioned benchmark is Phuket’s sandbox programme. Read about it here.
Personally, I think this is a good idea and we should do it. Even if we do not open up to foreign travelers, it can be local travelers too.

What we need to also be communicating across to everyone is that even IF all the tourists / travelers are vaccinated, it does NOT mean there would be zero covid-19 cases in the island.

The reason is a simple one, Phuket has already shown that Covid-19 cases would still be happening. What’s more important is that we take pro-active steps to manage this. If we expect cases to be zero, then I think we can stop planning for this already.

The reason why I say so is because with the wrong expectations, then the outcome will be different too. For example, it may be considered successful as it helped the tourism sector gain a lifeline in Langkawi but everyone may be focused on new covid-19 cases and thus they may think this programme is a failure.
 These are the Covid-19 cases in Phuket this week. (source here)
 With current Delta variant, it will most likely happen.

Aug 12 – 33 new cases
Aug 13 – 82 new cases
Aug 14 – 109 new cases
Aug 15 – 49 new cases
Aug 16 – 50 new cases
Aug 17 – 43 new cases
Aug 18 – 89 new cases

Yes, I did visit Langkawi at least once per year on average

People say there’s not much to do in Langkawi. Actually that’s the reason why we are there right? Wake up when we want to wake up, walk down for breakfast, laze around a bit, drink coffee in some new cafe, eat some seafood for dinner, stroll by the beach, buy some chocolates for loved ones and well just drive around the island maybe drop by some new and nice hotels to take some photos?

These are enough for a few days and doing this once every year does not seem to be that bad yeah. Of course, there’s also the feeding eagles, island hopping, take the cable car, swim in the Dayang Bunting lake and more. Come on… is it so different from visiting another island? Happy visiting yeah, if it comes to fruition since this will have to depend on the new government.

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Langkawi – Airasia hub, Best Airport award, FASTER duty-free

I never knew there’s a best airport category for under two million passengers in Asia Pacific. The most amazing thing is, Langkawi International Airport (LIA) has won it twice. The actual award is Airport Council International Airport Service Quality (ASQ) Award 2014. That is indeed a good news and I do think Langkawi’s airport is clean but could really do with MORE passengers. It feels empty everytime I am there and I do drop by Langkawi on a yearly basis. Perhaps this may change because Air Asia has recently said that it will be making Langkawi one of its international hubs.

Besides this potential new hub news, LIA will also be upgraded under the 11th Malaysia Plan. In 2014, 2.2 million passengers used LIA and this is expected to continue in 2015. In fact recently, Hotel St. Regis as well as Langkawi International Convention Centre was completed too. Main attraction in Langkawi is still the fact that it is a duty free island. Recent news indicated that the Finance ministry is planning to reduce the time limit to qualify for duty-free goods for both local and foreign tourists in Langkawi. The 48-hour requirement for foreign tourists would be reduced to 24 hours while the 72-hour requirement for locals would become just 48 hours.

Well if you are visiting, how long would you need to stay? I would always propose that you keep the trips short enough so that you would come again and again. Some of the stuffs I propose. List is non-exhaustive. Take a cute or fantastic photo with the HUGE eagle at Dataran Lang. Langkawi Cable car and the Langkawi SkyBridge is a MUST as the view is fantastic. Underwater World in Langkawi is worth a visit if you are bringing kids. Hop around in Langkawi islands via speedboat, for example the Dayang Bunting Lake or even Pulau Payar. I have a little fear when I saw the Dayang Bunting lake but what the heck, I still jumped in for a swim. As for Pulau Payar, the experience of having fishes swimming around you is very memorable. Telaga Tujuh Waterfall is ONLY suitable for regular hikers because it is a steep and tough climb for those who are not used to exercise, so please take care. Buy, buy and buy perfumes, chocolates and Vision cooking pots. Happy visiting Langkawi.

written on 13 Apr 2015

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Langkawi – RM4 Billion GDV Development – Luxury Travellers

Have you ever been to Langkawi? I have been to Langkawi many times. Normally I would go to Langkawi once every year. What is there to do over there? Actually, not a great lot but here’s some of them.
Langkawi Tourism.
 Personally, I like Langkawi because when I am there, everything slows down tremendously. It is unlike Genting Highlands where you see huge crowds everywhere you go and during holidays, you can hardly move! It is not like Penang where even driving from one place to another takes a long time during peak periods / hours. Langkawi by comparison is slow and steady. You can even get a car for 3 days for just RM100! Especially towards the evening time, typically it’s cheaper compared to early morning. of course, there’s the added attraction of continuous drinking for those who just must have alcohol.

Recently, nearly every major dailies reported on a huge new development in Langkawi. It’s called Perdana Quay and the GDV is RM4 Billion. This is the first ever integrated leisure, retail, residential and commercial development in the island targeting luxury travellers seeking an ecological and nature oriented option instead of just the conventional Phuket or Bali. I have been to both Phuket and Bali and if I were to choose, I prefer Bali instead. Culturally as well as places of interest, Bali wins hands down compared to Phuket which is much more famous for its beaches and ‘Thai Girls’.

Coming back to Langkawi’s development. Would it ever catch Phuket and Bali? Many would say, not likely, not in the near future. I actually agree. However, attracting luxury travellers would be a different market altogether and also because in terms of property development, I would still rate Malaysia as better than both Thailand or Indonesia in terms of legal protection or even the market development. I can only say for myself but if I were to choose a holiday destination, I rate Bali first, followed by Phuket and then Langkawi. However, for a longer term stay or for a better connection to other attractive places, I would choose Langkawi instead.

The main issue I would think Langkawi would face problems would be connection into Langkawi. It is definitely not as well connected as Bali. Bali’s Ngurah Rai airport handles close to 13 million passengers yearly and expected to hit 20 million passengers within 5 years. Phuket meanwhile handles over 11 million passengers in 2013 which meant both airports are HUGE! Langkawi airport meanwhile handles less than 2 million passengers per year. Thus, the main problem with Langkawi is not due to the lack of attractions but it is a matter of ‘if I love to come, is it convenient for me to come?’ There are at this moment no answer to this question. Thus, if we are talking about continuous growth, it is a YES. if we are talking about matching Phuket or Bali in terms of total visitors, it will not be possible even by 2020.

written on 1st April 2014

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Langkawi Travel Bubble? It’s for the world! Excited?

Langkawi Travel Bubble? It’s for the world!

A friend said, “It’s just LANGKAWI lah…” She was commenting on the announcement that Langkawi will be a travel bubble for domestic visitors and now it will be open to international visitors. I did not bother to ask her lah, let’s just say that it’s not important at all. Everyone should have their opinion.

Perhaps she likes the sand in the famous Kuta Beach instead… or maybe the sand in Sentosa island… or maybe even the Gold Coast in Australia… It’s okay, go visit them yeah. I am sure they will be open very soon as well for international visitors.

As for me, I am okay with Langkawi travel bubble if many international visitors want to come once it’s opened to international visitors on 15th November 2021.

Article in edgeprop.my
   Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri said that the international tourism bubble for the Langkawi pioneer project will be for tourists from all countries.

She said that there would be strict procedures in place to curb the spread of Covid-19 at the resort island.

She said, “The procedures include ensuring arriving tourists use tour agents registered with the ministry. The agent will be the one who will arrange their entire journey and they will not come directly to Langkawi on their own. This is the mechanism we use, so if anything happens, like infection cases, the agent will be held responsible.”

The international tourism travel bubble for Langkawi, slated to begin on November 15. Please do read the full article here:
Article in edgeprop.my

Have I visited Langkawi yet? (after Langkawi Travel Bubble started)

My wife and I would like to visit Langkawi with our daughter and son. However, both of them are not yet vaccinated as they are under 12. What I am aware of is that there is a possibility for vaccinations for under 12 to start even within 2021. So, I am very optimistic.
Here’s that latest news about developments in Malaysia and also in the US too.

Let’s see when will that trip will be since even the schooling year for 2021 will only end February 2022.
That latest news here.
 A few of my good friends have already visited Langkawi. One showed a romantic dinner place, another showed her long legs relaxing by the pool. My photo when I am there? The kids lah… Haha.

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Langkawi will get bigger and RM40 billion GDV too

My personal thoughts about Langkawi

“But there’s nothing there!” this was a comment from a good friend when he learnt that I go Langkawi once a year (when there were no COVID-19). Actually, the reason I go to Langkawi is because I can just relax, drive that rented car to all the small little corners all around the island, wake up late for breakfast, have coffee breaks anytime I feel like it and even laze around the pool or the beach.

These days, it’s more of whatever the kids like to do, we can do and there’s no need to allocate any time limits too. So, perhaps my friend would be happy that there may be more things happening in Langkawi in the future. RM40 billion in estimated gross development value (GDV) yeah. It’s a WOW even if this is in Klang Valley (Greater KL) yeah.

Article in
theedgemarkets.com
.
   Widad Business Group Sdn Bhd (WBG), an integrated facility management, property and construction conglomerate, is planning to build a mixed development project in Pulau Langkawi, Kedah with an estimated gross development value (GDV) of RM40 billion. Widad is also a majority stakeholder of Bursa-listed Widad Group Bhd and Dataprep Holdings Bhd.

WBG said it intends to erect a man-made island which will eventually span approximately 1,000 acres or 50% of the entire area, as currently, almost 90% of the 1,979-acre site consists of the ocean. Once completed,
Widad@Langkasuka
 will comprise tourism components such as five- and six-star hotels and resorts, an international golf course, an international business and office complex, shopping malls, higher learning institutions, healthcare facilities and luxury residences. Do refer to the full article in
theedgemarkets.com

90% of the 1,979 acre is still the ocean!

Yes, this is why the title of this article is that Langkawi will get bigger. This is  going to be a reclamation project. It makes sense too actually because any beach fronting land is already consisting of many layers of homes, hotels, chalets before we could even see the sea… As for the debate about reclamation and nature, I think better leave all these to the experts. As someone who has visited many countries, it’s really possible for both to exist at the same time.

Any development plan which could attract more foreign tourists into Malaysia and specifically Langkawi in this case is definitely a good thing. Perhaps the important thing would be the content of the whole development plan. Just need to understand that building just hotels alone will not be enough. It has to be a fully-integrated package because tourists would need activities to do and not just do like what I do in Langkawi which is, not much.

Will continue to report if there are more details too. Stay safe and stay home if possible.

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Large sized condominiums, from RM2.99 million onwards

Yes, as usual for SP Setia, every project has their own project website and for this particular one, there’s a video to introduce in brief WHY should the wealthy may want to have a unit. Take a look here:
Setia Sky Seputeh
. The price starts from RM2.99 million which meant that the target market is really those super-wealthy who’s more elderly who could have bought a bungalow somewhere but their kids may feel that something more modern and luxurious may help them to be more relevant to their other rich friends. Yes, no doubt it may also include many younger entrepreneurs who has made it big.

As reported by a few medias, its divisional general manager Paul Soh shared that that the first block of 145 units will be sold at an average price of RM1,250 per sq ft in September 2016 followed by the second block later in the year at RM1,350 per sq ft. Overall gross development value (GDV) is RM950mil. The developer is offering the first 50 units with a 2% rebate on a 10:90 scheme. It meant buyers need to only pay a 10 percent downpayment, sign the sales and purchase agreement following by the remaining 90 percent when buyers get possession of the unit. The whole project comprises 290 units on a 4.8 acre land.

Soh also shared the following which matched my personal belief. “Response has been good, especially from Damansara Heights, Bangsar, Old Klang Road and the vicinity (of Taman Seputeh).” Buyers’ profile are also older and those with teenage children.
There are six designs offered, with three sizes, at 2,300 sq ft, 2,600 sq ft and 2,900 sq ft. Each unit will have three to four parking bays. Every unit would have its own private lift lobby. The main attraction would be a 1.5 acre podium which will have one of Malaysia’s longest man-made sandy beach in a high-rise development. Imagine running around with your children around the ‘beach.’ Haha. Too bad, the price is way too far for me even if my daughter could decide, it would be a Yes.

Under current circumstances, it’s definitely harder to get people to part with their money for luxury real estate. Will be interested to know what happens when the actual selling starts. We can visit their gallery once it opens for a better understanding. Happy enjoying if you are buying one.

written on 22 Aug 2016

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SP Setia: Launcing RM4.7 billion GDV for 2016. Nice.

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Largest aquarium brand in the world is coming to Malaysia.

Information from wikipedia: “
Sea Life Centres
 are a chain of commercial
sealife
-themed
attractions
. As of April 2017 there are 53 Sea Life attractions (including standalone Sea Life centres, mini Sea Life features within resort theme parks, and
Legoland
 submarine rides) around the world. The chain is owned by the British company,
Merlin Entertainments
.”

Somehow, despite the 53 centres all over the world, there’s none in Malaysia as at 2018. By middle of 2019 though, we will have SEA LIFE Malaysia located in Iskandar Puteri, Johor Bahru.
Article in Edgeprop.my here.
It aims to engage and inspire children to learn, love and care for the ocean. The double-storey aquarium is located next to Legoland Malaysia Theme Park, Legoland Water Park and Legoland Hotel, occupying 2,123 square metres of land space. It is a six-metre long and 2.1-metre wide clear ocean tunnel surrounded by 385,000 litres of water and will be set in a replica of the historic shipwreck site.

While visitors walk through the tunnel, they will be immersed with stories  of the ship’s journey and discover lost treasures of the ocean, while being surrounded by a plethora of marine life, including stingrays, zebra sharks, blacktip reef sharks, seahorses and jelly fish. SEA LIFE Malaysia will have more than 25 display tanks in 11 habitat zones hosting over thousands of sea creatures.
Article in Edgeprop.my here.

Ready for lots of fun with SEA LIFE Malaysia? Then, it’s time to plan a couple of days in JB. One day is enough only for Legoland. Another day is needed for SEA LIFE followed by a lot of other attractions. Mothers could shop in
Johor Premium Outlet. (An earlier review here)
 Happy visiting and yea, the accommodation choices are aplenty.

written on 11 Dec 2018

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How many of these largest cities have you visited?

How many of the largest cities in the world which you have visited? There are 20 in the list below. I have only visited 3 of the below.

Have you dropped by
visualcapitalist.com
lately? (Nope, they did not pay any single cent to kopiandproperty for this mention) I am a subscriber to their contents and on many occasions, i would receive interesting visuals. Okay, sometimes, the info presented was not something I have interest in but if we are curious about everything around the world, this is a good place to start.

Recently, it was the
Predictions for 2021 (click here to read)
 and now, they are showing to all of us the world’s 20 largest cities by population size. The biggest one in this list of 20 largest cities by population actually have 30% of its population staying in just that city! We are talking about Japan with about 126 million population and 37 million of them stay in Tokyo! I have been to Tokyo three times and I do think I want to go again.

There’s still a lot to explore plus the fact that from Tokyo, we can reach all the other nice cities via bullet train too. Ramen is superb and people are polite and within Tokyo, generally the places we go, they understand simple English too.

Source:
visualcapitalist.com

All other major cities

Delhi is second followed by Shanghai in 3rd in terms of population. All these top three cities are in Asia. We move on to Sao Paulo in Brazil followed by Mexico City in Mexico and Dhaka in Bangladesh. Out of these three, we have another one in Asia. 7th would be Cairo the capital city of Egypt, followed by Beijing and Mumbai. Within these three, we have another 2 cities within Asia.

The 10th is Osaka, followed by New York and Karachi. Yes, from these three cities with the.highest population in the world, two of them are in Asia. The 13th is Chongqing, followed by Istanbul in Turkey and Buenos Aires in Argentina. Next, we have the remaining final 5 cities within the top 20 and they are Calcutta, Lagos in Nigeria, Kinshasa in Republic of Congo, Manila and Tianjin. Within these 20 cities with the largest population in the world, 12 of them are within Asia.

Conclusion

Yes, I do think Asia is full of potential, just a matter of how could Asia become a little more like a grouping like the other economic groupings. There is no need for a formalised one where countries could not decide for themselves. Just need more integration and cooperation. I also think both China and India has a huge role to play in this. The term Dynamic Duo is a better term versus going it alone. Happy looking for opportunities.

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Great news: Largest economy adjusted interest rates upwards

Yes, the good news is finally here. The Federal Reserve has finally decided that the US economy has recovered from the 2007 – 2009 financial crisis. It raised the benchmark interest rate by a quarter of a percentage point to between 0.25 percent and 0.50 percent.Fed ChairJanet Yellen said, “With the economy performing well and expected to continue to do so, the committee judges that a modest increase in the federal funds rate is appropriate.” Yes, even a nobody like me wanted Federal Reserve to show that the US economy is doing well. My earlier article:
I hate it when US economy has bad news

The US labor market has improved with unemployement rate falling to 5 percent and the Federal Reserve expects the inflation to rise to 2 percent. This adjustment is a gradual process but is aimed at keeping the Federal Reserve ahead of the curve as the economy recovery is continuing. It would not want to wait for the growth to accelerate before it suddenly increased the rates abruptly. Labour market is expected to fall further to just 4.7 percent next year with economic growth hitting 2.4 percent. This is considered a good growth number for the largest economy in the world. Fed officials also said that this policy would not cause much disruptions to the financial market.

Anyway, at the current rate, it remains accommodative and this should not be stopping businesses from investing or consumers from spending. This rate tightening would continue and from a Dec.9 Reuters poll is expected to be 1.0 percent to 1.25 percent by end of 2016. As at today, nothing bad has happened and  the financial markets around the world seemed to have anticipated this hike. Ringgit opened higher versus US dollar and closed higher today (17 Dec). Anyway, the expectations is that with US dollar expected to strengthen thus Ringgit’s movement is likely to be volatile with a downward bias. Just google for news about Ringgit yeah. Thank you Fed. You have removed an uncertainty. Now, let’s start looking at fundamental instead yeah.

written on 17 Dec 2015

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It’s ALSO the ‘last-mile’ closure, not just more leads

A senior manager with a property developer was speaking to me the other day. He told me that these days customers are taking ever longer time before buying. Similar views as his have been shared to me by many real estate negotiators (REN) as well. When I asked if the number of people visiting the show gallery (for developer) or the number of people viewing homes (for the REN) has actually decreased, both of them said,’not really.’ One main reason was that they were doing ever more advertisements to get ever higher leads into the show gallery (developer) and more viewings (for RENs). I shared with them both that today, the buyers in the market are jittery and choosy. Let me explain briefly.

Jittery because there has been many speculations on what may be happening to the property market. From the world financial crisis potential (China-US trade war) to the local property market bubble bursting (predictions), there has been non-stop news which will usually be scary to many. Due to them being jittery, it’s important to be able to tell them much more than just how good the project is. It’s important to engage them from a more consultative point of view. This is why real estate professionals need to get themselves updated and need to understand the market signs and reasons so that they could impart these to the potential buyers. Anyway,
experienced investors are still going to buy.
 If investors say that they are worried about the potential bubble bursting, do they know what
are the bubble bursting signs?

Choosy because many projects are very similar these days. Seriously, beyond the project name, when a project is similarly priced and is in similar kinds of locations, what is their difference? Their difference is actually the same as above; last mile connection. This is the sales person or the REN. Are they able to step into the shoes of the customer? Do they know what’s the real reason for the potential buyer in considering? It may be due to the housewife and two kids or the potential buyer wants a place which could accommodate three generations? Without knowing, it’s not possible to start answering. Yet, most sales people immediately start answering by telling everything about the project features!

A very prominent property expert whom I played badminton with asked me that other day about a certain sales training by a certain sales trainer. I answered that for developer sales teams or even RENs, the requirements are much more demanding these days. Sending them to more workshops to build their motivation or sales theories will not add much. Sales people are motivated by money, they do not need more motivation trainings. Perhaps what they really need would be ‘Property Investment 101’ workshops as a start followed by “Handling Objections Better” workshops. Yes, I have been conducting these workshops for many months and the response has been positive. Happy engaging me, if needed.

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written on 20 Nov 2018

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Last weekend, I spent RM500. This week, Genting posts huge losses in Q2. THINK.

When was your last trip up Genting Highlands resort? Resorts World Genting was opened in 1965. That’s in the year of Snake according to the Chinese Zodiac. 12 years after that, I was born. 36 years later, my daughter was born. Haha. When I was younger, I used to go up once probably every few years. My father would drive up Genting Highlands in his Nissan Sunny 130 and later on Nissan Sunny 130Y.

The theme park was outdoor and I was up the roller-coaster 2 times and both times, it scared me to the max. The only other time I went up another roller coaster was in 1998 in Disneyland France. No more… okay. So, I guess we (my father and I) have been spending our money up there since the times when I was younger and today when my kids are young. In 2019, I contributed to Genting’s revenues too.

Pre-Covid 19 visits to Genting Highlands

I am a serial Genting Highlands visitor before COVID-19 came. In 2019, I visited Genting Highlands probably 5 times. Watching concerts (my wife and my friends watched while I watch the kids), in-laws came visiting, kids love to play in Skytropolis, my wife and I love the cooling weather, it’s less than an hour away plus in 2019, the room rates were either very low or free with my Genting Card. (image)

Assuming a spending of RM500 per visit (since room rate is very low anyway), I would have contributed a revenue of RM2,500 to Genting Highlands in 2019. It’s always full every time I visited too. Okay, i also go up every September usually to get my free mooncakes too courtesy of points from my Genting Card.

2020 visit

I visited Genting for the very first time last weekend. Yes, got 4 mooncakes as per usual due to the accumulated points. You get points from buying stuffs, eating there plus going into the casino too. Image shows the mooncake set. Pretty decent and we get to choose the flavours we like. Want to know what’s the condition like in Genting Highlands? Are there lots of people? Actually not as many as my previous trips but nevertheless, it’s crowded enough. Photos as below:

Skytropolis – full of people

Skytropolis – where kids have fun

Article in themalaysianreserve.com
 In 2Q 2019, Genting Bhd reported a profit before tax (PBT) of RM1.33 billion. (this was when I was there 5 times…). For 2Q 2020, it has reported a loss before tax (LBT) of RM1.66 billion. This loss was due mainly to LBITDA and higher impairment losses recorded, as well as a share of loss from joint ventures and associates in 2Q20 compared to a share of profit in 2Q19. Revenue for the group has plunged 80% to RM1.11 billion for 2Q 2020 from RM5.45 billion in 2Q 2019. Do read the full report here:
Article in themalaysianreserve.com

Conclusion?

If we look at how many COVID-19 vaccines are on its way as well as the fact that international borders remain closed, I do think Resorts World Genting will continue to be extra popular even if its new outdoor theme park opening is delayed further. Anyway, there are today many more property developments up there too and that could only mean an even more stable business as the number of visitors will continue to increase too.

I know, some would point out that its cruise business will be taking a much longer time to recover. These are all the additional considerations if we have any intention to think about buying its shares which has been battered badly thus far. I do not have any Genting Berhad (Genting) or Genting Malaysia (GenM) shares currently. Perhaps I should read a bit more and visit it one more time before deciding? What about you?  Please share your thoughts yeah.

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Earlier, way before everyone anticipated COVID-19. Visitors to Genting in 2019

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A win for home buyer on late delivery payment

There was this viral news about good news for home buyer. It’s about late delivery payment. Liquidated Ascertained Damages (
LAD
).

Have I experienced claiming for late delivery payment?

I am fortunate. Thus far, I have not bought any property where the delivery of the property was late and I had to go through the hassle of claiming for late delivery payment from the developer. I do think developers should always deliver early instead. Then, the home buyers would have confidence with your brand. Property development is always a long term venture and a good buyer may but from the developer again and again.

Photo by SevenStorm JUHASZIMRUS on
Pexels.com

Federal Court has ruled that the calculation for late delivery payment to house buyers begins from the date the booking fee is paid, and not when the sale and purchase agreement (SPA) is signed.
Full article in freemalaysiatoday.com here

In the ruling, Chief Justice Tengku Maimun Tuan Mat said the Housing Development (Control & Licensing) 1966 and its subsidiary laws were social legislation and that was a settled law.

Tengku Maimun said, “It is our view that the submission is untenable. When it comes to interpreting social legislation, the courts must give effect to the intention of Parliament and not the intention of parties.”

“Otherwise, the attempt by the legislature to level the playing field by mitigating the inequality of bargaining power would be rendered nugatory and illusory.”

Tengku Maimun said the courts would not countenance the bypassing of statutory safeguards meant to protect the purchasers.

“While the developers might think that it is a standard commercial practice to accept booking fees, the development of the law clearly suggests to the contrary.”

HBA secretary-general Chang Kim Loong said it was a landmark ruling and another victory for house buyers.

Do read
Full article in freemalaysiatoday.com here

This is a landmark ruling and this meant that any future cases would all be decided based on the booking date yeah. I think many developers would be extremely serious with on-time delivery moving forward. Else, they better be prepared to pay should they lose in the court case. By the way, legislation is supposed to be fair to all parties. In this case, the court has said that if there are inequality in bargaining power, then legislation will level the playing field; making it fair to all. Happy buying since now there’s also the protection.

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Latest. LRT3 mishap. 1 dead 4 injured.

We  have a bad news in the construction of LRT3 which happened just this afternoon. The scaffolding at a construction site along Jalan Langat Lite Rail Transit (LRT) 3 track collapsed and 1 worker died while another 4 were injured.

Article in nst.com.my
  Incident happened at 215pm. 1 foreign worked died while four others were injured by falling debris when scaffolding at a construction site along the Jalan Langat Light Rail Transit (LRT) 3 track in Bandar Bukit Tinggi collapsed this afternoon. All the men were in their 30s and they are from Bangladesh and Indonesia.

Rescuers managed to pull out four workers from the rubble earlier and they sustained light injuries. Another trapped worker under the debris was confirmed dead by the police later. His body was recovered at 4:20pm.  Selangor Fire and Rescue Department Services director Norazam Khamis said he understood that the scaffolding around the structure gave way as the construction workers were pouring wet cement into one of the columns, which resulted in the collapse. Do refer to the article for more info.
Article in nst.com.my

Image source: nst.com.my

Another article here:
Article in astroawani.com
.

Hopefully, we have no further reports of casualties and I think this is yet another one of those incidents where prevention measures could have been stronger. Truth is, this is not an incident caused by a natural disaster or some unforeseen circumstances. However, no one knows what really happened until full investigation has been conducted, completed and reported.

Let’s go towards zero incidence please. Prevention is always better than cure. Potential death(s) could be prevented too.

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