Press Release: Hotel recovery will be U-shaped and varied across countries and regions; domestic travel will return first

Press Release from Colliers International

Hotels across Asia Pacific continued to experience poor performance in Q2, with overall room occupancy and average daily rate (ADR) showing decreases to 33.9% and US$60.32, respectively

2.
Revenue Per Available Room (RevPAR) for the region declined by some 69.9% year-on-year

3.
In terms of room occupancy, most markets (except for China, Myanmar, The Philippines, Singapore and South Korea) witnessed year-on-year declines in excess of 40.0%

4.
Japan, Thailand, Hong Kong and Vietnam led the field in being the top five lowest performers

5.
In local currency terms, Thailand and New Zealand are the only markets that witnessed year-on-year increases in ADR in excess of 2.0% in Q2

Colliers International
 (NASDAQ:
CIGI
; TSX:
CIGI
), a global leader in commercial real estate services, today released the
Hotel Insights Q3 2020
 report, a quarterly digest of key trends in the hospitality sector.

Govinda Singh
, Executive Director and Head of Hotels & Leisure for Valuation & Advisory Services, Asia, commented: “The global economic outlook is expected to remain subdued in the near term given the ongoing uncertainty and risks of new waves of COVID-19. Therefore, the outlook for the hospitality industry in the region is expected to be dimmed in the near term. Nonetheless, we believe the hospitality industry will rebound when travel returns given its legacy of resilience and agility. To prepare for hotels re-opening, hoteliers will need to take a cross-disciplinary approach so that hotels are well-positioned to build public trust and offer compelling product and service offerings, enabling hotels to thrive in the new operating environment with an evolving customer mix and preferences.”

Weekend leisure segment to recover first, driven by pent-up demand for travel

Domestic travel will return first while international travel, particularly if it involves air travel, will take a longer time to recover. The weekend leisure segment is expected to lead the recovery, driven by the pent-up demand for travel as international travel restrictions and quarantine measures remain largely in place globally. Underpinned primarily by essential business travel, the corporate travel segment should be next to return, followed by the extended leisure segment, as consumers’ confidence increases over time alongside the lifting of international travel restrictions. Meetings, incentives, conferences and exhibitions (MICE) and group segments will likely be last to recover given the high adoption of technology as an effective platform for MICE activities.

Health and safety to be a key consideration in travel planning going forward

As markets start to recover, consumers will prioritise health, safety and hygiene when it comes to travel planning and decision making. Personal space will also be more important; instead of large tour groups, independent travel will take precedence and people will likely prefer bespoke holidays and seek out travel experiences with a purpose (such as health and wellness, eco-travel, etc.). Technology will also take on a more critical role in the traveller ecosystem and be a key tool in the revival of travel. Robots, chatbots, automation, recognition technology, artificial intelligence (AI), internet of things (IoT) and virtual reality (VR) will become increasingly commonplace.

Resumption of domestic travel in China well underway

The gradual lifting of restrictions and the implementation of the Chinese government’s stimulus plans, alongside the promotional initiatives to spur growth and consumption, have encouraged the return of domestic tourism in China. This was reflected in the tourism receipts generated from domestic tourism during the Labour Day holiday in May, which was RMB 47.6 million (approximately USD 6.8 million), as compared to that of RMB 8.3 million (approximately USD 1.2 million) during the Tomb Sweeping Day holiday in April. In line with the improving trend of domestic tourism, the hotel industry in China saw an uptick in occupancy levels month-on-month after bottoming out in February. China has also been in discussions with several countries on the easing of borders for essential business travel.

Investor interest in the industry remains firm

The most liquid markets in Q2 were Japan and South Korea while markets such as Hong Kong SAR, China and Taiwan saw little investment sales during the quarter. With international travel restrictions in place, domestic investors remain the dominant group in investment transactions. In the coming months, investment activity is expected to gain pace as investors move to take advantage of any opportunities that will emerge, although cautious sentiment and stricter underwriting remain key given the evolving situation.  For value-add investors and those looking to create a presence in the region’s key city and resort markets, this may be the right time to explore.  With access to mainstream financing likely to be limited in the near term, cashed-up investors who can transact quickly will be in prime position.

Click here to download the
Hotel Insights Q3 2020
 report.

– End of Press Release –

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Press Release: IJM Land- Bandar Rimbayu’s Starling Sold Out Within A Day of Launch

Press Release

Even during a global pandemic and Recovery Movement Control Order (RMCO) in place, Malaysians are eager to get in on the opportunity to acquire great residential properties. One such residential development that has received an overwhelming response from the public that it was sold out within 24 hours is the Phase 1 of Starling located in the award-winning modern township Bandar Rimbayu by IJM Land.

Starling Phase 1 is first of the four-phase 56.68 acre residential development consisting of 680 home units including an array of green areas, infrastructures and communal space with a GDV of RM 500 million. During the launch of Phase 1, more than 500 homebuyers signed up for the project which consists of 125 available Type A units offering 20’ x 60’ landed flexi homes and boasting a large 1,621 sqft built-up fit for any family to enjoy.

Priced from RM 656,800, Starling Phase 1 homes come with 3 bedrooms and 3 bathrooms that are perfect for young families who desire for a quality and modern lifestyle. Designed for the modern contemporary needs of these families, Starling presents a stylish finesse and trendy colour schemes to its physical outlook while featuring an open plan layout for the living room, dining room and kitchen.

As yet another promising development to elevate the lifestyle of their people, Starling has taken into consideration the ever-evolving urban way of life while meeting the needs of families in their journey of enjoying life’s best moments.

Due to the abundant space in Starling, residents are able to conduct their leisure activities in peace within their own spaces where they are segregated from neighbors. The architecture design of Starling also provides conducive ventilation and generous natural lighting to make residents feel free and unconfined. With families encouraged to stay at home in this new norm, the readily-available high-speed broadband infrastructure will be crucial for residents to stay connected with the world. Without compromising on security, the development is located in a guarded community with two dedicated entrances. The 16 acres of open spaces within the neighbourhood with a 2km jogging path also encourages a healthy lifestyle.

“We think that the positive reception of Starling Phase 1 is due to it fulfilling the needs of modern homebuyers. At IJM Land, we have always tried to think further and predict future trends that would significantly improve the lives of our residents while also providing homes that are affordable and good value for money,” said Mr. Chai Kian Soon, Senior General Manager of Bandar Rimbayu.

The pandemic has proven that now more than ever, digitization has become more crucial in our lives at the turn of the decade. To connect with a digital-centric audience and to keep both homebuyers and employees safe, Bandar Rimbayu has taken extra steps to digitize their consultation and engagement processes to include taking clients through virtual 3D walkthroughs of the development and units, while also providing them with the digital masterplan as a reference.

Succeeding the sold out response of Starling Phase 1, Bandar Rimbayu conducted a balloting session for unit selection with a twist in lieu of the current restrictions. Their first-ever live balloting session was streamed on their official Facebook page on 7th June 2020. From over 500 registrants, 190 lucky ones were selected for the balloting that was live-streamed to provide an unbiased and transparent process for registrants.

Following the announcement of Home Ownership Programme (HOC) 2020, a government initiative to support homebuyers and encourage the purchasing of properties, Starling had since been one of the properties listed under this scheme. Therefore, homebuyers may enjoy a minimum 10%  discount on the purchasing price on top exemption of stamp duty for Memorandum of Transfer (MOT) and loan. Additionally, purchasers are entitled for free legal fees for both Sales and Purchase Agreement (SPA) and loan.

“This is definitely a challenging year for everyone, but it only proves that in today’s age, our lifestyle changes rapidly due to external circumstances. As a visionary property developer, we have adapted and embraced digitization to provide our residents and homebuyers with safe and efficient solutions, including home-viewing up to finally buying a home in a desirable location which is Bandar Rimbayu,” Chai added.

Starling Phase 2 which consists of 148 units of Type B homes (20’ x 60’) is now open for registration.

For more information, log on to
www.rimbayu.com
.

-End of Press Release-

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Press Release: IJM Land gears up for next wave of success with Starling Parcel 3

Press Release by IJM Land for Bandar Rimbayu.

While Malaysians are still bracing themselves for the adverse effects towards the local economy, property investment might not be a priority to some. Bandar Rimbayu by IJM Land however, has seen overwhelming responses with their residential development Starling, where its Parcel 1 was sold out in a day, and Parcel 2 fully-booked within half a day. Now, they are all set to launch Parcel 3.

Starling Parcel 3 is the third parcel of the 56.68 acre residential development consisting of 680 home units including an array of green areas, infrastructures and communal space with a GDV of RM 500 million. In this phase, two new types of home units with bigger built-ups will be available, which are Type C and Type D double storey link homes.

For Type C, there will be a total of 103 units with a land size of 20’ × 60’ and a built-up of 1,694 sq ft, consisting of 3 rooms and 3 bathrooms. Type D, however, will have the same 20’ × 60’ land size but a larger built up of 1,769 sq ft offering 4 rooms and 3 bathrooms. There will be 121 units of Type D available.

“We expected Starling to be well received, but to be greeted with such overwhelming positive response from homebuyers surprised us considering the recent situation, but we certainly have done everything we can to help them embrace upcoming challenges, including prioritizing product innovation, devising strategic campaigns and ultimately understanding what homebuyers truly need right now,” said Mr. Chai Kian Soon, Senior General Manager of Bandar Rimbayu.

1. A great value for money

Priced from RM 698,800 onwards, Starling Parcel 3 home units are built to accommodate first-time homebuyers, especially ones who are eager to start a family. The availability of different sizes also makes Starling a great choice for growing families.

Additionally, at such an attractive price point, Bandar Rimbayu is confident that homebuyers will be able to have their very own spacious landed home at a price of a city condominium.

Homebuyers get to enjoy a multitude of facilities and amenities within a guarded neighborhood with two entrances to ensure the safety and convenience of residents. The 16 acre open space houses a multipurpose court, cloud pavilion, amphitheatre, central lawn, feature shelter, plaza, playground and par course.

In terms of design, Starling is embellished in a lush landscape, a pulling factor for residents who are nature lovers and those who thrive in a serene and peaceful environment. The central park also calls for quality family-bonding moments, while the 2 km jogging track is located in a serene and secured area.

2. Designed to be your forever home

The Starling residence is inspired by the shape of a starling’s blue eggs, while the interior designs have incorporated multiple forms, colors and composition of shapes. Hence, a shade of blue is chosen as their primary color applied in tandem with other colors such as brown soil, green leaves and pink flowers to recreate a peaceful garden-like environment.

With the launch of Parcel 3, Starling will be presenting their latest show unit for Type D houses where its interior design is inspired by Floret, a concept aimed to create a cheerful and soothing ambience for the well-being of homebuyers’ mind and soul. This show unit is also curated as a display model for future Starling homeowners who wish to have a hassle-free renovation and optimize the spaces in their built-to-the-end homes.

Bandar Rimbayu believes that a homebuyer’s first home is good enough to be their forever home, and to be a place where every member of the family can express their creativity and individuality, allowing them ample space to grow into the home.

To facilitate a conducive growth environment, Starling has incorporated aspects like a spacious living and dining area, a car porch that can fit 2 cars, full-height wall tiles for all bathrooms, a stylish feature with branded sanitary-ware and tiles, and a water booster pump for a wholesome showering experience, among many others.

Through its design, Starling reflects harmony with surrounding natural elements using its earthy and neutral tones that make every home warm and inviting. The geometrical and bold lines, on the other hand, exude a timeless, yet trendy look.

3. Be trendy, be digital

The recent challenges faced by many include the requirement to exercise caution and social distancing as Covid-19 remains a real threat. Seeing an opportunity in crisis, Bandar Rimbayu took the chance to not only comply with strict safety requirements, but also make their home-buying process much more advanced and convenient for its audience. As such, they have developed a more efficient and effective process while exponentially increasing sales.

Some of the steps taken to digitize the process include conducting virtual consultation and engagement activities such as taking clients through virtual 3D walkthroughs of the development and units, while also providing them with the digital masterplan as a reference. During the launch of Parcel 1 & 2, Bandar Rimbayu had also conducted their first-ever live balloting session for unit selection live on their official Facebook page.

4. Understanding homebuyers

It goes without saying that understanding the target audience is key to success, and this has contributed to Starling’s success. To make their residential development more relatable, Bandar Rimbayu has included benefits and features that would be useful to contemporary homebuyers.

One instance is the high-speed broadband infrastructure that makes it convenient for home buyers to immediately accommodate to more stay-at-home practices during these times, or in the future. Additionally, Starling’s well-considered design has included additional rooms which offer flexibility to homebuyers to adapt and convert them based on their use and needs. Type D homes also come with a security door for extra security measures.

In knowing that current homebuyers are also prioritizing a quality lifestyle, all new homebuyers are entitled to 12 months of free membership for 2 pax at The Club @ Rimbayu that features an array of facilities including its impressive Olympic size swimming pool.

IJM Land also understands that buying a home might not be the first thing on everyone’s agenda in the current climate. But in their bid to help homebuyers to own a home of their dreams with ease, they have introduced a flexible ownership campaign called ‘Now You Can’ that will run until 31
st
October 2020. Through this campaign, customized plans and solutions will be developed to suit individual needs and requirements.

Besides the ‘Now You Can’ campaign that will encourage homebuyers to make a sound investment, they can also take advantage of the Home Ownership Programme (HOC) 2020 in buying Starling units as they will enjoy a minimum 10% discount on the purchasing price on top exemption of stamp duty for Memorandum of Transfer (MOT) and loan. Additionally, purchasers are entitled for free legal fees for both Sales and Purchase Agreement (SPA) and loan.

For an exclusive time-limited event in conjunction with the launch of Starling’s Parcel 3, homebuyers can participate in a lucky draw contest and stand a chance to win 8 units of Proton X70.

For more information, log on to
 www.rimbayu.com
.

-End of Press Release-

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IJM Land : ‘Now You Can’ Campaign helps home ownership

Press Release: IJM Land : ‘Now You Can’ Campaign Lifts Homebuying Woes

In a bid to instill customer confidence and provide them with an opportunity to own a home of their dreams with ease, IJM Land Berhad (“IJM Land”) has introduced a flexible ownership campaign called ‘
Now You Can ’
for prospective homebuyers during this backdrop of a challenging financing landscape arising from the COVID-19 situation.

IJM Land truly understands the concerns and uncertainty faced by homebuyers. ‘ Now You Can ‘ which runs from
now to 31
st
October 2020,
is their own way of alleviating customers’ financial burdens while also helping them own their dream homes and supporting their investments.

Commenting on IJM Land’s ‘ Now You Can ‘ home ownership campaign, IJM Land Managing Director Mr. Edward Chong said, “We are excited to launch our ‘ Now You Can ‘ campaign to provide assurance to aspiring homebuyers and educate them about the prospects of investing in a home during these challenging times, including low interest rates, an ideal savings plan and high rewards. This gives buyers’ confidence that the risk of entry is low. There’s always a window of opportunity in every crisis, and if there’s a takeaway to learn from this year, it would be the importance of having your own savings and investment to safeguard your future.”

IJM Land recognizes that every customer is unique. With the campaign, IJM Land takes the initiative a step further and develops customized plans and solutions to suit individual needs and requirements. Financial coverage is also provided in the event of a loss of employment or salary reduction – this is their sincere bid to help more people own their piece of the Malaysian dream in this unprecedented period.

Their primary focus is to ensure that their property solutions are more inclusive and considerate towards the needs of financially-restricted first-time homebuyers as well as those who are challenged by the tightening financial lending requirements.

“We understand that different buyers have different needs and situations; hence one size does not fit all. Therefore, in order to make our homes more affordable to the masses and help more Malaysians turn their dream home into reality as well as addressing the prevalent market challenges, we introduce a host of innovative ownership plans for our customers to make the journey of owning their dream home a simple and smooth process,” added Mr. Edward.

A wide range of IJM Land top notch property projects covering different property types and a range of unit sizes, from new launches, ready to move in condominiums and landed homes are made available to cater to homebuyers from multi-generational families to singles and couples. Most of IJM Land properties nationwide are situated in convenient and strategic locations in close proximity to major highways and transport hubs within key growth areas. This allows easy access to the surrounding communities and facilities.

Participating townships include Pantai Sentral Park in Kuala Lumpur, Bandar Rimbayu, Shah Alam 2 – Alam Suria Enclave and Seremban 2. Other projects include properties across the country such as Riana Dutamas in Kuala Lumpur, Permatang Sanctuary in Bukit Mertajam, Trehaus and The Light Waterfront in Penang, Bandar Utama in Sandakan, Kuching Riverine Resort in Kuching as well as Nasa City, Austin Duta and Sebana Cove in Johor Bahru.

Homebuyers should take advantage of the Home Ownership Campaign (HOC) 2020 which takes effect from now until 31 May 2021 as they will get to enjoy the limited period benefits and savings offered by the campaign. In conjunction with HOC 2020, homebuyers are entitled to attractive deals on a variety of IJM Land properties, including special rebates, home furnishing package, zero interest payment plans, move-in deals, free loan legal fees, plus HOC benefits of stamp duty exemption on MOT up to RM1mil and stamp duty on loan up to RM2.5mil, which reduce the homeownership cost. With these, there is no better time to own a property.

While many aspiring homebuyers are worried about the current economic climate, IJM Land provides reassurance that buying a property is still a viable and reliable form of investment. As a responsible developer aiming to empower their homebuyers, IJM Land prioritizes education and awareness all throughout their customers? homebuying journey by ensuring that they make informed decisions based on their needs and requirements.

IJM Land believes that the majority of potential buyers and investors will likely continue using the virtual platform post-Covid-19. Addressing the anticipated shift in consumer behavior, IJM Land has advanced its portal and updated its website to accept online bookings that enables buyers not only to book their desired IJM Land property but even purchase it from the convenience and comfort of their homes. Their professionally-trained sales representatives will also be assigned to each homebuyer who will assist them every step of the way, providing them with a smooth-sailing homebuying journey. After the booking is confirmed, the project?s representative will get in touch with the buyers for further documents, finance and insurance formalities, allot your home and IJM Land will hand over your new home.

IJM Land will continue to build up its customer base and market its properties through making enhancements to its digital marketing platforms, curating content for social media and by providing immersive experiences with videos and 360° virtual walkthrough of show units. Ultimately, the developer will also dive in to understand the needs of their customers using available data, and relentlessly work towards developing products that fulfill the needs of Malaysian homebuyers.

Visit the IJM Land official website for details:
http://www.ijmland.com&nbsp
;

-End of Press Release-

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Press Release: IJM Land – Reaping the Benefits of Nature in Seremban 2

A RELAXING LIFE AMIDST NATURE

Wind down every day at home in Seremban 2

Picture yourself at work facing the computer, feeling cold and counting the hours until you can leave the office, just to get stuck in a massive traffic on your way home. Many Malaysians choose to live in the city for a multitude of reasons – work, opportunities and being the centre of it all. While living in a modern concrete jungle does have its upsides, with it also comes stress and an unbalanced lifestyle.

Now imagine commuting with ease back home where nature awaits. Upon reaching the town, which is strategically located in Seremban 2, you admire the lush greenery that lines up both sides of the road as you are driving – they remind you that home is near and dear. A short distance more and you’ll reunite with your beloved family after a long day’s work to bond and relax.

An aerial shot overlooking Seremban 2 with AEON shopping complex in view.

A natural environment serves many irreplaceable roles in maintaining a balanced ecosystem that, in many ways, benefits our overall well-being, and Seremban 2 understands this very well. Being surrounded by nature makes us feel relaxed and safe. When choosing getaway destinations, most of us would look for quiet, peace and a blissful natural environment. This is because spending time in the natural outdoors has been scientifically proven to reduce stress levels, rejuvenate our minds and reenergise our bodies.

“The 1537 ha of land that is now called Seremban 2 has a rich natural history which started as a fertile agricultural plot but with little investment value. After being bought over by IJM Land, we knew that its natural roots are what make it special, and we wanted to keep it that way. Hence, we devised a development plan to keep the area as close to nature as possible while providing people with more viable options for homes and investments,” said Dato’ Hoo Kim See, Senior General Manager (Central Region) of IJM LAND.

One of the reasons why Seremban 2 has become such a thriving township in Negeri Sembilan is its strategic implementation that leverages on vast green spaces spread across the township, offering a peaceful and relaxing lifestyle with complete community friendly amenities and facilities that can help residents to wind down while enjoying the simpler benefits of nature.

The 45 acres of park space that extends across the township is one initiative by the developer to keep to their promise. Within the total dedicated park space, 15 acres are reserved for the S2 City Park which accommodates a variety of activities for residents such as kite-flying, playground fun, tai chi and other sports. With an abundance of greenery around, the availability of fresh air is sure to improve blood pressure and one’s sense of well-being. In the brain, the serotonin neurotransmitter is crucial in maintaining one’s mood, appetite and overall mental health. By spending time in the park and breathing fresh air, serotonin levels can be regulated which promotes happiness. Research has also shown that a common soil bacteria can act as a natural antidepressant while indirectly alleviating health issues such as heart disease and diabetes.

The rest of the park space is dedicated to the 30-acre Hill Park which is also known as the Dinosaur Park as it features intriguing dinosaur sculptures. More than just a park, it is a stimulating hang-out spot for families situated 400-feet above sea level that offers panoramic views of the entire Seremban 2 township. As the highest point of Seremban 2, Hill Park promises sufficient sunlight to make it an ideal location for residents to soak up Vitamin D which promotes calcium absorption and reduces risks of multiple conditions such as high blood pressure, heart diseases and more.

A healthy and happy lifestyle is also commonly attributed to consistent physical activities that stimulate our physical and mental health. For that, Seremban 2 features a 30-acre sports complex which provides an abundance of sports-related activities that encourage fitness. This complex features an Olympic-sized swimming pool and offers other facilities such as a hockey stadium and badminton courts that cater to endorphin-producing sports activities. Known as the brain’s feel-good neurotransmitter, pumped-up endorphin levels can make one feel relaxed and calm.

“The land of Seremban 2 is a nature’s wonder through and through, and IJM Land has always taken into consideration throughout the decades of city planning by prioritizing well-being and progressive lifestyle for our residents. Being in touch with the natural world has provided boundless advantages to a contented life. In celebrating our 25th anniversary this year, we will be reminded to continue our efforts in maintaining and developing Seremban 2 as a breath of fresh air in the property industry offering an escape from the daily hustle and bustle of a city life,” Dato’ Hoo added.

For more information on their developments and to get the latest updates, please visit
http://seremban2.ijmland.com/.

-End of Press Release-

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Press Release: IJM Land’s Suria Pantai starting from RM275,000

Press Release:  IJM Land and Amona Development Launch Affordable Housing Development in Pantai Sentral Park

The development, known as Suria Pantai, is located in prime area with amenities and good accessibility

Young professionals and
families looking to start a home—hear ye, hear ye! Smoothen those furrowed
brows because IJM Land and Amona Development have built the perfect solution to
your concerns—the attractively-priced and strategically-located
SURIA PANTAI
.

When the city is
brimming with opportunities and commercial hubs, affordability may come into
question for some individuals. Hence, IJM Land and Amona Development has joined
hands to supporting the government’s initiative—Rumah Mampu Milik Wilayah
Persekutuan (RUMAWIP)—to cater to the need for more affordable mass-market
homes have developed
SURIA PANTAI
that is priced at a very affordable
RM275,000.

Held at the ICE Gallery of Pantai Sentral Park, the launching ceremony
was officiated by the Member of Parliament for Lembah Pantai, YB Tuan Ahmad
Fahmi bin Mohamed Fadzil in the presence of Mr. Edward Chong, Managing Director
of IJM Land; Dato Hoo Kim See, Senior General Manager (Central Region) of IJM
Land; En. Che Hasnadi, Chief Executive Officer of Amona Group of Companies and
En. Mohd Adib Othman, Director of Amona Development Sdn Bhd.

“
We believe that every
Malaysian has a right to a quality home and living environment. As a
responsible developer, we want to facilitate the majority of Malaysians being
able to realize their aspirations to own their own home.
SURIA PANTAI
is
located in the new and robust
Golden Triangle of Klang Valley, and one of KL’s most affordable and accessible
addresses for residences.  It is positioned accessibly within reach of amenities as
well as paths of connectivity. It’s about 3km to Mid Valley and 5km to KL
Sentral. Considering its prime location, this development is a true value for
money option that should not be missed,” said Dato’ Hoo Kim See, Senior General
Manager (Central Region) of IJM Land.

Pantai Sentral
Interchange, connecting the township to the New Pantai Expressway or NPE, was
recently opened to the public. Located at Kilometre 11 of the NPE, the new
dedicated interchange which comprises
three
ramps
 and
two at-grade roads
,
connects Pantai Sentral Park directly to the NPE, with enhanced accessibility
to various key hubs and locations in Klang Valley. Equipped with CCTV, the new
interchange is expected to ease traffic flow in the entire area surrounding
Pantai Sentral Park.

Commending both IJM Land
and Amona Development for their commitment in making more affordable homes,
Yang Berhormat Fahmi Fazdil, Member of
Parliament for Lembah Pantai
 said: “This is a memorable day for both the
homeowners and myself as we strive to make homes more obtainable for the middle
class. With the great location and accessibility, this is definitely one of the
best places you can go for. To have a beautiful home in a scenic area with all
the amenities provided, I must say that you are all very lucky to have been
able to secure a unit. This is a great effort by the developers and the
government in hopes that more families and young professionals have the opportunity
to enjoy such benefits.”

With a 75% take up rate
out of 896 units in total,
SURIA PANTAI
is low-density and offers
sufficient built-up space measuring 810 sf in a building that comprises of 34
floors with 26 units per floor. The 3-bedroom, 2-bathroom layout is functional
as it meets the needs of all home buyers be it single working professionals,
married couples, and families. With each unit, homeowners are entitled to one
parking unit in the covered car park. The affordable apartment will be
complemented with facilities that include a swimming pool, a playground, and a
multipurpose hall for work and play. Additionally,
SURIA PANTAI
is gated
with a security service to ensure the safety of its dwellers.

Another major highlight
is Taman Rimba Bukit Kerinchi, a 200-acre forest reserve that lies at the edge
of the development—a sure hit among nature lovers who would be overjoyed to
partake in a multitude of different activities such as hiking, jogging, and
cycling. Even residents who are not nature-enthusiasts would find peace and tranquility
amidst the verdant views and lush greeneries that the forest reserve has to
offer. Bukit Kerinchi is the perfect getaway from the city and an entrance into
a different world.

At
SURIA PANTAI
,
homeowners will wake up to crisp morning air accompanied by the music of birds
that will still every dweller’s heart and bring them happiness as they start
their day. There is a zen quality; a gentle hum from the natural surrounding
and the fresh air will allow homeowners a break from the hustle and bustle of
the city. A time and space to heal, to reflect, and to spend time with loved
ones.

“Homeowners will love
how close they are to nature and to surrounding amenities like shopping
outlets, education centres, healthcare institutions, retailers, hotels, golf
clubs, and parks,” added Dato’ Hoo.

Couples with children
will be glad to know that schools are within the vicinity of the residence, which
include SK Bangsar and SMK Seri Pantai, located roughly 2km away. Even running
errands and performing everyday necessities are convenient with retail stores
and malls like Mid Valley, KL Gateway, Aeon Prime and bank facilities within
close proximity. The development is strategically located near train stations
along the LRT and KTM lines such as KL Sentral, University LRT and Pantai Dalam
KTM. Other nearby amenities include educational institutions like Universiti
Malaya as well as healthcare centres such as University Malaya Medical Centre,
Pantai Medical Hospital, and Columbia Hospital.

Single individuals with
a monthly income of less than RM10,000 and combined household incomes of no
more than RM15,000 are eligible to enjoy a life of convenience this residence
offers—provided they are currently working and residing in Wilayah Persekutuan.
As construction works has begun, the much anticipated development will be
completed by 2022.

The development is now open for registration via
SURIA PANTAI
’s official portal:
www.suriapantai.com
. For more information, interested buyers can also visit the sales gallery, ICE Gallery Pantai Sentral Park, located at Lot No 2, Level 1, Jalan Pantai Sentral, 59200 Kuala Lumpur.

– End-

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Press Release by IMG-Lyon: Australian Retirement Living Operator Sets Up Regional Base In Malaysia

Press release:  Australian Retirement Living Operator Sets Up Regional Base In Malaysia

— start —

20 March 2017, KUALA LUMPUR – Independent Management Group (IMG), a leading specialist in senior living in Australia, has signed an agreement to form a joint venture company with Lyon Capital Sdn Bhd to provide consultancy and management services for medium to high-end retirement village developments in South East Asia. The company will be the Asian regional headquarters and will serve as a full service operations office aside from its home base in Melbourne, Australia.

The new company, IMG-Lyon Asia Sdn Bhd will offer a range of services to developers and owners of properties to establish international standard senior living communities, with immediate target properties in Malaysia, Thailand, Indonesia and Singapore.

The services include Design and Space Planning, Facility Offerings, developing Standard Operating Procedures, Financial Analysis and Controls, Recruitment and Training, as well as Operations and Management.

Susan Malone, founder and principal of IMG said that the market for senior living in Asia has been largely untapped due to the perception that such retirement villages are seen as nursing homes for the aged with minimal facilities. She added that there is a changing environment and modern families now do not regard senior living communities as taboo.

“Contrary to popular belief, an active senior living village provides residents with comfortable homes, supported by medical, wellness, recreational, F&B, clubhouse with spa, gym and even a cinema, make for a stay not unlike a 4 or 5 star hotel. Our standards ensure that residents receive personal attention, and even concierge services to make their stay as comfortable as possible.”

“As Asia age, there are millions of seniors above the age of 60 who wish to have an independent lifestyle, without compromising their living standards and yet be able to have a peace of mind with regards to safety, security and health issues. Our experience in Australia and our understanding of the Asian culture, based on years of direct involvement and participation in regional projects including China, has made our decision to establish a presence here more convenient to service our Asian clients.”

“Studies have shown that all across Asia, the number of people age 65 and above is expected to grow dramatically, from 207 million in 2000 to 857 million in 2050. There is a critical demand for quality homes for seniors and the perception of these type of residences has changed positively.”

IMG presently has a number of on-going projects in the region.

Lyon Asia’s chairman Datuk Wan Chik Din said that the tie-up with IMG is significant as there exists ample opportunities in Malaysia alone. “We are a boutique development company and we are confident that senior living will become a new normal. To make this evident, we are working with IMG on our project in Malacca which will offer 120 units of apartments, supported by an annexe building housing the facilities for the residents. We have taken the necessary advice on how we should develop this type of residence. Our Malacca project shall be the first truly international-standard senior-living residence in the country.”

He added that the business of running retirement homes can be more lucrative than investing into a hotel. The long-staying nature of the residents provide a more sustainable income model, with other ancillary revenue from the operations adding to the bottom line.

The Malacca development, named Mandarin Gardens will be operational by mid-2018. Sales and leasing of the units is scheduled by Q3 this year. The property is owned by Vista Springs Development Sdn Bhd, a wholly-owned subsidiary of Lyon Capital, and will be managed by the IMG-Lyon joint venture company.

— end —

I think retirement is going to be a huge business. Assuming Malaysia
becomes ageing nation by 2035,

it’s just 18 years away. Developments need time. Marketing such developments so that it gains wide acceptance requires some time too. How many seniors would love to stay in these ‘retirement homes?’ By the way, it’s retirement village and the concept is widely accepted many developed countries. In its site, IMG has consulted for two projects in Malaysia. Gita Bayu and Avillion.
Here’s the list.
Happy following.

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40% ready for retirement and 80% have strategies

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Press Release:  IOI Hackathon By IOI Properties Group

IOI Hackathon is credited as the 1st open innovation proptech hackathon in Malaysia.

For those of you wondering what a hackathon is, it is generally defined as a sprint-like event in which computer programmers, software developers, designers and others collaborate intensively over a short period on a software project.

Therefore, when IOI Properties announced its first IOI Hackathon project under its Live.Life! brand campaign on 25th June 2020, the property industry buzzed with excitement. As a reputable company and an industry leader, the community knew something was brewing to shake up the industry. “Well, digitalization is inevitably changing the business models. Even the traditional property industry is being forced to embrace this change. Hence, to move forward, we need to shake up and disrupt the industry with digital innovation. We are constantly looking for real digital solutions and ideas to transform and revolutionize the industry! We want to improve the lifestyle of our residents, community, colleagues and business partners. As well as support young talents to pursue their ideas,” says Jason Tie, Chief Sales & Marketing Officer.

IOI Hackathon kicked off on 25th June 2020 with a call for registration online. Just within minutes of its announcement on social media platforms, the posts garnered much interest and became the talk within the tech community. On 17th July 2020 when registration closed, IOI Hackathon had received 64 teams registered as participants with each participating team having 3 members (a pre-set criteria).

The total prize money offered was RM35,000 in cash, one of the best offered for local hackathons. For the 3 top original winning ideas will further be supported with funding, business advise mentorship and test beds for incubator or accelerator programmes with promising ideas or projects.

Unlike other hackathons, IOI Hackathon was unique because it is conducted in a hybrid model of Virtual Hackathon and Pitching on stage for the Top 10 post-MCO period. From 17th July to 25th July 2020, our talented and eager participants had just one week to come up with a tech-based solution to the property market’s deep-seated problems. They were tasked to develop and build a software solution to either boost the sector’s image or improve the quality of the property industry.

For one week, all 64 teams were coached by best mentors from various field of expertise such as Stanley Seow (IoT & Hackathon Specialist), Edward Chin (Founder, Actualize Hub), Aaron Sarma MDEC & ScaleUp Malaysia), Arvind Patmarajah (StartFund), Dr. Lau Cher Han (Data Scientist), Harpreet Singh (Blockchain Expert, Blocklime), Ikhwan Nazri (CEO of Amanz Media), Izwan Zakaria (Lawyer Specialised in Tech and Start Ups), Syed Muzani (Senior Developer and Serial entrepreneur) to guide the teams in the right direction, and help them produce a solid project.

Out of the many entries that we received, these were the top 10 finalist that were selected to battle out in the finals.

IOI Hackathon Finalists

Brass
Green Phoenix
Hack Over Flow
Hi Tech Tenancy
Invictus – Propty
Live Tour
Prop Analytica
Prop Boss
Syntax Core
The Future of Housing

The IOI Hackathon Grand Finals held on 1st August 2020 at Putrajaya Marriott Hotel showcased great talents and inspiring creativity in action as our top 10 tech wizards grouped into teams to work on their ideas. They presented some great ideas.

The winning entry was Green Phoenix. The 1st runner up was Prop Analytica and 2nd Runner Up is Prop Boss. And seven teams received a merit token of RM500 each.

IOI Hackathon marks the first event activation under the IOI Properties’ LIVE.LIFE! brand campaign. It is a campaign curated for millennials to engage with the younger generation of today. IOI Properties wants to disrupt their lives to instil passion, build confidence and define characters. Because they are the future as we see today, and tomorrow, our future will be in their hands as they will be our leaders.

— End Of Press Release —

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Press Release: IOI Properties Group Inks Agreements with Marriott International to Manage Putrajaya Marriott Hotel and Palm Garden Hotel in IOI Resort City, Putrajaya

IOI Properties Group Berhad (IOIPG) has entered into agreements with Marriott International, Inc.  (Marriott International) to manage two of its signature hotels in IOI Resort City, Putrajaya, namely Putrajaya  Marriott Hotel and Palm Garden Hotel. The Putrajaya Marriott Hotel will be converted from its existing  franchise arrangement to a managed contract under the Premium brand, whilst the Palm Garden Hotel will  be converted to the management of Marriott International under the Tribute Portfolio brand.

The Putrajaya Marriott Hotel, boasts of a grand Mediterranean-Moorish architecture and this 5-star property stands majestically on a 6.5-acre land amidst lush greenery and tranquil surroundings. It has 380 guest rooms,  73 executive rooms, and 35 exclusive suites. For more info, visit
https://www.ioiproperties.com.my/ioi-resort-city-putrajaya/putrajaya-marriott-hotel

Enjoying the Tribute Portfolio status is the 4-star Palm Garden Hotel with unique design characteristics that  will come under the Marriott Bonvoy portfolio at the end of 2021. Nestled in the 788-acre of scenic greenery  within the IOI Resort City development that includes the breathtaking 18-hole Palm Garden golf course  and IOI City Mall, one of the largest shopping malls in Malaysia, the hotel offers 151 spacious rooms and a  central courtyard that is home to a lush palm garden. The hotel features a signature Thai restaurant and an  alfresco bar that is ideal for guests to enjoy a social evening outdoors. The hotel also houses two large  swimming pools and a recreation center with obstacle courses and various teambuilding facilities; and  features 11 multifunctional event spaces including a ballroom measuring over 6,000 sq ft. Tribute Portfolio  is a growing global family of independent characterful hotels, drawn together by their passion for captivating  design and their drive to create vibrant social scenes for guests and locals alike. For more info, visit
 https://www.ioiproperties.com.my/ioi-resort-city-putrajaya/palm-garden-hotel

“We are thrilled to sign the agreement with IOI Properties Group to introduce the Tribute Portfolio brand  to the administrative city of Putrajaya,” said Rivero Delgado, Area Vice President – Singapore, Malaysia,  Maldives, Marriott International. “This signing marks our commitment to expand our diverse Marriott  Bonvoy portfolio across Malaysia where we currently offer a breadth of brands providing guests endless  experiences.”

IOIPG Executive Vice Chairman Lee Yeow Seng said the hospitality and leisure segment of the Group  leverages on its stable of world-class brand hotels in providing excellent customer experience, augmented  by distinctive IOIPG-brand offerings that always prioritise the needs of its customers.

“This is in line with our business strategy of delivering excellence, creating value for stakeholders, and  developing sustainable communities. Our strong partnership with Marriott International since 2002 with the  opening of Putrajaya Marriott Hotel augurs well for our stakeholders. Marriott International has a reputation  for excellent service and quality. Their commitment to diversity and inclusion creates opportunities for local  communities to thrive, fostering a positive sense of wellbeing in the society, which also reflects the corporate  culture of IOI Properties Group,” he said after the signing ceremony between IOIPG and Marriott  International.

Currently, Marriott International manages Le Méridien Putrajaya in IOI Resort City, and Four Points by  Sheraton Puchong, both of which are part of the hotel portfolio of IOIPG. It will also be managing both  the upcoming Moxy Putrajaya in IOI Resort City, and the Sheraton Grand within the IOI Palm City mixed  development in Xiamen, China.

“We are excited to build on our relationship with IOI Properties Group and further expand our portfolio  in Malaysia,” said Paul Foskey, Chief Development Officer, Asia Pacific, Marriott International.

Mr Lee Yeow Seng also added, “We are constantly finding alternatives to increase revenue and consolidating  our hotel operations is an effective way. This will lead to better cost optimisation and improved operational  efficiency, resulting in value creation for stakeholders and sustained profits for shareholders. It will unlock  the potential value of our property and hotel assets. The strong brand positioning and presence of Marriott  International, together with its values of pursuing excellence and embracing change will take the hospitality  segment of IOIPG to the next level, as the hospitality and leisure industry in Malaysia recovers post Covid 19.”

-End of Press Release-

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Press Release: IOI Properties Group Lauds Women’s Achievements For International Women’s Day Celebration

This year’s International Women’s Day was all about celebrating the inspiring women of IOI  Properties Group Berhad (IOIPG). In adopting the global theme of #ChooseToChallenge,  IOIPG chose to engage with its staff and public to spark conversations on embracing diversity,  equality and inclusion.

As a people-centric organisation in the property industry, people and culture form the backbone of  IOIPG. IOIPG’s success lies in its people, the champions of value creation, who are nurtured and  supported to achieve their aspirations through collaboration and teamwork. IOIPG will continue to provide a level playing field and equal opportunities to all its staff to perform at their best  regardless of gender.

Therefore, IOIPG organised a series of activities to commemorate International Women’s Day and  this culminated with a webinar focused on the topic of “Diversity, Equality and Inclusion at the  Workplace”. The group-wide activities encouraged collective action and shared responsibility for  driving diversity and inclusion at the workplace and in the community. These activities in  celebration of International Women’s Day kicked off in February with #ChooseToChallenge  Photo Contest and #InspiringWomen Facebook Profile Photo Frame Giveaway. A series of  encouraging words by IOIPG staff was published on social media to inspire women to achieve  their dreams with confidence.

Although the property industry is often perceived as male-dominated, it has seen many women  who are high achievers, result-oriented and committed, stamping their mark by actively  participating and contributing towards business growth in the industry.

IOIPG Chief Executive Officer Dato’ Voon Tin Yow said, “IOIPG believes in equality, fair play  and mutual respect, and embraces diversity, inclusiveness and transparency.”

“We want to create an ecosystem that empowers our people to be the best that they can be, enables  creativity and innovation, encourages collaboration and teamwork, and builds trust across all  stakeholders that leads to our vision, TRUSTED.,” he added

Women make up more than 30% of IOIPG’s senior management positions. Women take on more  leadership roles and functions across different business segments within IOIPG and Dato’ Voon  expects women representation in senior management to continue increasing over time.

“I strongly believe that women are capable of performing better than their male counterparts in  almost any field of work or profession. All they need is level playing field and equal opportunity,  and with a little encouragement, they will surely go a long way,” he explained.

The webinar, organised in collaboration with LeadWomen Sdn Bhd, attracted an encouraging  participation of more than 300 IOIPG staff from Malaysia, Singapore and China across various  operations and business units within the organisation.

Moderated by LeadWomen Co-Founder and Chair, Anne Abraham, the webinar featured  interactive sessions with the participants and a panel discussion comprising a group of  distinguished speakers including IOIPG Executive Director Lee Yoke Har, PI Architect Founder  Ar. Datuk Tan Pei Ing, Independent Director and Coach Datin Nancy Sim and Dutch Lady Milk  Industries Berhad Managing Director Tarang Gupta.

-End of Press Release-

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Press Release: iProperty.com.my is Malaysia’s No.1 Property Site

• Malaysians spend more time with iProperty.com.my, over 6 minutes Time on Site; more than
any other property sites.
• Users who are age 25+ years old spend 31% more time on site browsing property pages when
compared to its nearest competitor.

KUALA LUMPUR, 8 APRIL 2021 –
 iProperty.com.my, Malaysia’s No.1 Property Site today revealed that despite the impact of COVID-19, property seekers in Malaysia continue to actively search for their dream home on
iProperty.com.my
.

Shylendra Nathan, General Manager of iProperty.com.my said: “We are delighted that despite the impact of COVID-19, iProperty.com.my has continued as Malaysia’s No.1 Property Site according to Comscore, a third party media measurement and analytics company.”

“The success of iProperty.com.my as Malaysia’s No.1 Property Site with the most visits can be attributed to our ongoing focus to provide the best consumer experiences and excellent customer value, not forgetting the strong support we get from our consumers and customers” said Shylendra Nathan.

iProperty.com.my is Malaysia’s No.1 Property Site with the most visits according to Comscore MMX® Multi-Platform, Real Estate, Total Digital Audience, February 2021, Malaysia.

Malaysians spend more time with iProperty.com.my

The global pandemic has accelerated property seekers in shifting to a digital platform. Malaysians spend more time on iProperty.com.my during the pandemic, over 6 minutes Time on Site
i
 and that is more than any other property sites. A further breakdown of its audiences shows that iProperty.com.my has the most property in-market audience as users age 25+ years old spend 31% more time on site browsing for sale and for rent property listings when compared to its nearest competitor.

Shylendra Nathan explained “Malaysians have turned to the convenience and safety of digital platforms for their property journey which was disrupted by the COVID-19 pandemic. Property seekers spending the most time on our site indicate that they are very interested and actively researching. They want to make more informed property decisions”.

“It speaks that iProperty.com.my is a trusted brand because property seekers are spending more time on our site, and it is something that we have earned. Earning our property seekers time can mean that iProperty.com.my has more to offer. We have enabled Malaysians to look for their dream home, be it buy, rent, or for investment, connecting property seekers with agents and developers that showcases their products on our site, as well as to discover useful property insights” said Shylendra Nathan

iProperty.com.my’s business is built around its consumers and customers

The foundation for iProperty.com.my’s success as Malaysia’s No.1 Property Site comes from its consumers and customers centric strategy, and innovation of its products and services with the purpose to change the way Malaysians experience property. iProperty.com.my currently has a suite of game changing data driven proptech products and services that complement every aspect of a property seeker’s property journey.

Brickz.my, Malaysia’s No.1 property data site

Owned by iProperty.com.my,
Brickz.my
 is Malaysia’s No.1 Property Data Site. It provides our consumers and customers a comprehensive view of subsale property price information and the latest transactions that are trusted, reliable and up-to-date, sourced from the Valuation and Property Services department (JPPH).

LoanCare, home loan eligibility indicator

iProperty.com.my’s LoanCare
, a home loan eligibility indicator helps to calculate and compare home loan options with up to 17 banks. Consumers can avoid the risk of not getting bank loan approval from one bank and that can set them back 3-6 months in applying for another. Knowing ones’ home loan eligibility is also important as that determines the property price range they can shop for.

iProperty PRO

iProperty PRO
, a proptech tool that is first in market and provides property agent customers with property data insights to reach the largest pool of property seekers in Malaysia. iProperty PRO is now celebrating its first anniversary.

“iProperty.com.my has been Malaysia’s No.1 Property Site for a very long time. We will continue to strengthen iProperty.com.my’s position as the No.1 place for all things property. Our consumers, and our property agent and developer customers will remain at the heart of our strategy. The goal is to provide a unified experience and deliver exceptional value by integrating our products and services.” said Shylendra Nathan.

Shylendra Nathan, General Manager of iProperty.com.my is available for interview.

About REA Group & iProperty.com.my

REA Group in Asia operates digital real estate sites, experiences and events which deliver the most comprehensive set of related property services and project marketing across South East Asia, including Malaysia (
iProperty.com.my)
, and Thailand (
thinkofliving.com
 and
Prakard
), and the Greater China Region, including Mainland China (
myfun.com
) and Hong Kong (
squarefoot.com.hk
 and
SMARTExpo
).

Headquartered in Australia, REA Group is a multinational digital advertising company specialising in property.  Listed on the Australian Securities Exchange (ASX:REA) we operate Australia’s leading residential, commercial and share property websites
realestate.com.au
,
realcommercial.com.au
 and
flatmates.com.au.
 REA Group is also a substantial partner in 99 Group which operates the
99.co
and
iProperty.com.sg
 businesses in Singapore and
rumah123.com
 in Indonesia.  REA Group also has significant shareholdings in Move, Inc through realtor.com in North America and Elara Technologies through
proptiger.com
,
maakan.com
 and
housing.com
 in India.

iProperty.com.my is headquartered in Kuala Lumpur, Malaysia and employs over 200 employees. iProperty.com.my is Malaysia’s No.1 property site, offering a search experience in both English and Bahasa Malaysia. iProperty.com.my also provides consumer solutions such as
LoanCare
 – a home loan eligibility indicator,
News & Lifestyle channel
 – content to enhance consumers’ property journey,
events
 – to connect property seekers with agents and developers offline, and much more.

For news related to REA Group and iProperty.com.my, visit
www.iproperty.com.my/newsroom
 and discover residential property demand and trends, tech and product updates and more.

________________

i
 According to Comscore MMX® Multi-Platform, Real Estate, Total Digital Audience, February 2021, Malaysia

— end of press release —

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Press Release: iProperty.com.my: National demand for subsale residential property in H1 2020 is only at -2.5% despite COVID-19

Revealed during the presentation of iProperty.com.my H1 2020 Portal Demand Analytics, the analysis highlights the subsale property demand in H1 2020 using iProperty.com.my’s user visits and property listings data in Malaysia with a particular focus on Kuala Lumpur, Selangor, Penang and Johor
Property demand, median prices, and capital growths for service residences and condominiums decreased as user visits and property listings declined for both property types
User visits and property listings for terrace homes grew in H1 2020 with a positive capital growth of +2.21%. However, listings growth outpaced visit growth, resulting in a -3.3% decline in overall demand

iProperty.com.my today unveiled its bi-annual H1 2020 Property Demand Analytics which provides an overview of subsale property demand using iProperty.com.my’s user visits and property listings data for subsale properties in Malaysia with a particular focus on Kuala Lumpur, Selangor, Penang and Johor. The analytics was presented by Premendran Pathmanathan, General Manager of Customer Data Solutions at REA Group Asia, during an online video conference. The analytics looks at three property types: terrace, condominiums, and service residences.

Due to the COVID-19 outbreak and the subsequent Movement Control Order (MCO) which brought real estate activities to a halt for more than eight weeks; the overall H1 2020 national property demand declined by -2.5%. Compared to H1 2019 Portal Demand Analytics, the demand for service residences contracted sharply by -7.2% while demand for condominiums remained negative with user visits and property listings declining for both.

Similarly, median prices and capital growths for these two property types have also gone down in tandem with the COVID-19 outbreak and the mobility restriction caused by the MCO  in Q2 2020. Furthermore, the decline is attributed to consumer sentiment over future uncertainties such as loss of income and sudden changes in lifestyle, priorities, and personal circumstances.

In contrast, user visits and property listings for terrace homes grew in H1 2020 with a capital growth of +2.21%, becoming the only property type with a positive capital growth within the same time period. However, property listings growth outpaced user visit growth, resulting in a -3.3% decline in overall demand.

The analytics also revealed a drop in capital growth figures in the major cities during H1 2020. Kuala Lumpur City Centre saw the biggest decline at -7.07%, followed by Georgetown with -5.42%, Petaling Jaya by -2.59%, Johor Bahru by -1.73%, and Shah Alam by -1.11%. This trend is expected as properties in prime city areas have premium prices and would be the first to take a hit when an extraordinary event such as the COVID-19 outbreak occurs.

In Kuala Lumpur, the COVID-19 has impacted demands for all building types. Most noticeably, there was a negative demand for terrace houses. This contrasted sharply with H1 2019 when the terrace house came out tops in terms of capital growth and was the only building type to record a positive value growth. Similarly, condominiums and service residences recorded a significant decline in demand and capital growth. Nevertheless, the overall subsale property demand in the capital city recorded only a marginal decline of -0.3% in H1 2020. Both user visits and property listing numbers for Kuala Lumpur property only dipped slightly below the positive trend line.

Selangor came out of H1 2020 as the only major state with a positive demand of +3.5% and with an overall increase in visits when compared year on year. While the other major cities in Malaysia recorded a negative demand for houses, Selangor state capital, Shah Alam had a demand figure of +7.63% due to its considerably affordable properties on the outskirts of Klang Valley. In Selangor, housing demands in H1 2020 shifted to smaller cities and suburban areas such as Puncak Alam, Dengkil, Semenyih, and Cyberjaya. This trend is spurred by the search for larger homes which was brought about by the remote working trend which snowballed after the MCO.

Penang saw a minor setback with subsale property demand declining by -6.5% in H1 2020 as the MCO and the closure of both state and international borders severely affected its tourism industry, translating to the lower search or purchasing interest among overseas investors. Property demand in the northern state recorded a downward trend across all three property types in H1 2020. On the positive side, terrace house prices in the mainland are still lower compared to its island counterpart, which means the capital growth potential of mainland homes could increase over time.

As for Johor, the property market in the state has been sluggish even before the COVID-19 outbreak and it remained subdued in H1 2020. The southern state has the highest property overhang in the country and its narrowing user visits coupled with an influx of listings have pushed the property demand down by -22.8%. The closure of the Johor-Singapore border during the MCO could have dampened user purchasing sentiment and might also have contributed to the double-digit drop in H1 2020.

It is worth pointing out that the effect of the pandemic on the property market is not as dire as what initially thought. When COVID-19 first hit Malaysia, we experienced a reduction in user visits and property listings during the initial stages of MCO. However, user visits have since recovered following the implementation of Conditional Movement Control Order (CMCO) and by the end of the first week of June, organic searches for subsale property listings saw an upward recovery of +41%,”

Premendran Pathmanathan,
General Manager for Customer Data Solutions & Quality,
REA Group Asia

He continues, “With market activities falling sharply as a result of the MCO, the announcement of the Economic Recovery Plan (PENJANA) package could not have come at a better time. The stamp duty exemption under the Home Ownership Campaign (HOC), the relaxation of Real Property Gains Tax (RGPT) for home sellers, and the higher Loan-to-Value (LTV) ratio should help to uplift the property sector in the coming months.”

Commenting on the release of H1 2020 Property Demand Analytics, Premendran said,  “Never before has demand-driven data played a bigger role especially in light of the COVID-19 pandemic. Demand-driven data in Malaysia is crucial in policy planning and making evidence-based subsidy decisions. For developers, they could benefit from the data to strategise on their next project and gauge consumer trends. With these data, we hope all relevant stakeholders would be able to analyse the insights to understand the local market preferences better, which are reflective of the market demand. It is our intention that the publication be made available for the benefit of all stakeholders so as to align industry players with market sentiments to facilitate better decision making. Once all parties are aligned, we can hope to revitalise the property sector in Malaysia.”

— End of Press Release —

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Press Release: iProperty.com.my- Renters Can Continue to Benefit from the Property Market in 2021

Visitorship to residential rental properties was more as compared to visitorship to properties for sale on iProperty.com.my in 2020.

National demand for residential rental properties in 2020  was at -12.6%, the dip was mainly caused by the growth in rental property listings outpacing rental visitorship.

KUALA LUMPUR, 30 MARCH 2021
— iProperty.com.my, Malaysia’s No.1 property site, today unveiled the 2020 Portal Demand Analytics (Rental Market), an overview of the residential rental property demand using iProperty.com.my’s user visits and property listings data for residential properties in Malaysia with a focus on Kuala Lumpur, Selangor, Penang, and Johor. The rental analytics looks at four property types: terrace house, condominiums, service residences, and apartments.

The analytics’ key takeaway is that many Malaysians are more inclined to rent due to the impact caused by COVID-19. Post-pandemic user visits to iProperty.com.my have been on an upward trajectory as more property seekers are shifting to digital platforms. In February 2021, iProperty.com.my recorded an all-time high of over 10 million monthly visits
i
. In addition to a +51% year-on-year (Y-o-Y) growth in visits
ii
, iProperty.com.my saw the level of property enquiries through its platform increased by +20.4%
iii
 in February 2021 when compared to last year before the first Movement Control Order (MCO).

Surge in Residential Rental Property Listings affects National Rental Demand Figures

Rental visitorship to iProperty.com.my increased as users opted to rent due to uncertainties caused by the COVID-19 pandemic. Although rental visitorship has grown, the increase in rental property listings has outpaced it, causing the national rental demand figure to dip to -12.6%.  Overall, the rental yield for terraced houses was at +3.3% from +3.4% in H1 2020. The median asking rent for condominiums was at RM1,800, from RM1,900 in H1 2020, while for serviced residences, the median asking rent was at  RM1,600 from RM1,700 in H1 2020.

Renters Looking for Spacious Units in Kuala Lumpur

Demand for residential rental properties in Kuala Lumpur was at -7.7% Y-o-Y for all building types. One reason for the decline was the lower rental demand for the apartment segment caused by unemployment in the capital city. Overall, the rental yield for terraced houses was at 3% from 3.2% in H1 2020, while condominiums was at 4.1% from 4.3% in H1 2020. The median asking rent for serviced residences, which was RM2,300 in H1 2020, dropped to RM2,000 by the end of 2020. Visitors in Kuala Lumpur are seeking four-bedroom terraced houses between 1,500 to 2,000 sqft in size as well as condominiums between 1,000 to 1,250 sqft in size, or a minimum of three-bedroom units priced below RM2,300.

Selangor’s Suburban Areas Remain Top Choices for Renters

Demand for residential rental properties in Selangor was at -10.3% Y-o-Y in 2020 for all building types. However, terraced houses recorded a demand growth of +2.8% making Selangor the only state in Malaysia with a positive growth in 2020. This can be attributed to renters moving to suburban areas seeking spacious living spaces in Bangi, Rawang, Kajang, and Cyberjaya. Many visitors were looking for double-storey terraced houses priced between RM1,200 to RM2,000 and between 1,500 to 2,500 sqft in size. Ulu Klang is the area in Selangor with the highest growth in demand, growing +32% Y-o-Y. A large number of visits were for condominiums priced below RM 2,000 and between 1,250 to 1500 sqft in size.

New Entry, Sungai Dua Appears as Penang Most In-demand Rental Area

The rental demand figure for Penang in 2020 stood at -18.3%. As a tourist state, Penang’s economy was affected by the pandemic although the situation improved during the year-end holiday period, providing much-needed businesses for hotels and short-term accommodations. One positive finding is the continued rental demand for apartments and flats in the industrial areas of the state including Sungai Dua, Bayan Baru, Bukit Jambul and Perai (mainland) as workers look for affordable accommodations. Sungai Dua is the most in-demand area in Penang with more than half of visitors interested in apartments below RM 1,000. Demand for rental properties in Bukit Jambul is also encouraging due to visitors looking for flats priced below RM700 and between 500 to 750 sqft in size.

Pengerang Emerges as the Most In-demand Rental Area in Johor

Being the state with the most unsold properties in Malaysia, the Johor residential rental property market remained sluggish as newly completed units remained idle, resulting in a drop-in demand figure by -27.8% Y-o-Y for all building types. In addition, the closure of the border between Singapore and Malaysia has impacted the rental market in Johor Bahru. Nevertheless, the expected completion of the Rapid Transit System (RTS) project in 2026 looks to improve Johor’s residential rental property demand. The industrial city of Pengerang is the most in-demand area in Johor thanks to its role as the southern oil and gas hub. Many visitors were looking for double-storey terraced houses priced between RM1,400 to RM1,700 with built up sizes of between 1,500 to 2,000 sqft.

Commenting on the release of iProperty.com.my 2020 Portal Demand Analytics (Rental Market), Shylendra Nathan, General Manager of iProperty.com.my said, “2020 was a year that favoured tenants more than landlords. The entrance of newly-completed projects in an already crowded market has caused landlords to drive down their rental rates as they compete to attract a limited pool of financially stable tenants. Indeed, tenants are now in a better position to negotiate prices and this has been reflected in slight drops in median asking rent prices and rental yields. Although the lower Overnight Policy Rate (OPR) has reduced monthly loan instalments for property owners, the bigger drop in rental income is currently offsetting the lower financing cost advantage. ”

“On a brighter note, the ongoing vaccination program has provided much-needed optimism for the local property market. Although the recovery will not be as fast as many would expect, it will definitely boost the property market’s recovery in the first half of 2021. As our country begins the journey towards achieving herd immunity, we expect to see higher consumer confidence in the property market as a result.”

You can download a copy of the iProperty.com.my 2020 Portal Demand Analytics (Rental Market) at
www.iproperty.com.my/newsroom

–End Of Press Release —

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Press Release: iProperty.com.my reveals the 10 most expensive residential properties sold in Malaysia in 2019

Press Release:  — iProperty.com.my has revealed the 10 most expensive homes sold in Malaysia for 2019. This is based on the review period between January 2019 to December 2019 and transaction data sourced from the Valuation and Property Services Department (JPPH). The data is compiled by iProperty.com.my‘s big data solution, iPropertyIQ.com. The properties are ranked in descending order and presented based on transaction price (RM).

10. Terrace house, Serene Heights – Semenyih, Selangor (RM 5.9 mil)

Median PSF for terrace houses at Serene Heights: RM 313

Serene Heights in Semenyih offers five layouts of double-storey freehold terrace houses namely Begonia, Acacia, Camellia, Dahlia and Eugenia 1. The latest project is Eugenia 1, which is expected to be completed in October 2020. Situated about 45km south of Kuala Lumpur, this area is accessible via a network of highways and main roads such as the North-South Expressway, LEKAS and SILK Highway. Higher institutions such as UNITEN, UPM and the University of Nottingham Malaysia are within 10 km to 27 km from Serene Heights. On the other hand, Tenby International School Setia Ecohills is 7 km away. For shopping, Tesco Semenyh is only a 10-minute drive away.

9. Bungalow, Pantai Hill – Pantai, Kuala Lumpur (RM 6.0 mil)

Median PSF for bungalows at Pantai Hill: RM 589

Pantai Hill at Jalan Bukit Pantai is situated in the hilly neighbourhood of Taman Bukit Pantai. This mature area with custom-built bungalow houses along the road is a favourite among wealthy homebuyers. Being in a strategic location, this affluent neighborhood is only 3 km away from Mid Valley Megamall and The Gardens Mall. In terms of public transportation, the closest train station is Kerinchi LRT station,  which is within 1.5 km. As an alternative, residents can opt for the Abdullah Hukum LRT station as it is just 2 km away from the neighbourhood.

8. Condominium, One Menerung – Bangsar, Kuala Lumpur (7.45 mil)

Median PSF for condominiums at One Menerung: RM 1,277

One Menerung is a lavish condominium situated in the affluent Bangsar suburb. It offers five layouts of 229 residential units with sizes ranging from 3,013 to 10,291 sq ft. Residents are able to enjoy a variety of facilities such as a dance studio, BBQ pits, pavilion, a gymnasium with the latest equipment, a swimming pool and a driver’s room. One Menerung is easily accessible via the Federal Highway, Jalan Duta and Mont Kiara on top of being only 500 m from Bangsar Shopping Centre.

7. Condominium, Serai – Bukit Bandaraya, Bangsar (7.45 mil)

Median PSF for condominiums at Serai Bukit Bandaraya: RM 1,599

Serai Condominium is situated in the expatriate neighbourhood of Bangsar. It comprises standard residential units and penthouses with sizes ranging from 4,025 and 14,000 sq ft. It is well catered for high-net families as there are private lifts, a recreational podium, children’s indoor play area and lounge among others. Bangsar Shopping Centre is only 850 m away while Damansara City Mall is within 2 km. Serai further benefits from a network of roads and highways such as SPRINT, Damansara Link, Kerinchi Link and Federal Highway. It connects Bukit Bandaraya to other townships and neighbourhoods such as Sri Hartamas, Mont Kiara, Bukit Kiara and Petaling Jaya.

6. Bungalow, Raja Mohar Scheme – Keramat, Kuala Lumpur (RM 8.1 mil)

Median PSF for bungalows at Raja Mohar Scheme: RM 431

Raja Mohar Scheme is situated at Jalan Damai, Kampung Datuk Keramat. This area is made up of a mature neighbourhood with old custom built bungalow houses along tree-lined roads. Each house has a spacious lawn and yard. It is also within the vicinity of foreign embassies and the Damai LRT station with the famous KL Golden Triangle located about 3 km away from Jalan Damai. Raja Mohar Scheme is accessible via AKLEH, Jalan Tun Razak and Jalan Ampang.

5. Bungalow, Sanctuary Ridge (Gasing Heights) – Gasing Indah, Kuala Lumpur (RM 9.0 mil)

Median PSF for bungalows at Sanctuary Ridge (Gasing Heights): RM 573

Situated amongst lush greeneries and nature, Sanctuary Ridge houses low density and freehold luxury bungalows in an established neighbourhood situated at the Kuala Lumpur side of Bukit Gasing. Its  residents are made up of mostly wealthy individuals who might have a penchant for nature as the Bukit Gasing Forest Park is only 3 km away.

4. Bungalow, Hartamas Heights – Dutamas, Kuala Lumpur (RM 9.5 mil)

Median PSF for bungalows at Hartamas Heights: RM 1,014

Hartamas Heights is an elite residential enclave consisting of 141 bungalow lots. Strategically located, Hartamas Heights is within reach of popular shopping malls, Publika Shopping Gallery and Solaris Mont Kiara. The neighbourhood is also located near government complexes and the Kuala Lumpur Courts complex. As a hub for international schools, Dutamas is one of the most sought-after postcodes among expatriates in Kuala Lumpur International schools such as Mont Kiara International School and Garden International School are 5 km away from Hartamas Heights. Affluent neighbouring areas such as Mont Kiara, Sri Hartamas and Bukit Tunku are connected via a network of roads and highways including Jalan Tuanku Abdul Halim, Sultan Iskandar Highway, DUKE Highway and North-South Expressway.

3. Serviced Residence, St. Regis – KL Sentral, Kuala Lumpur (RM 9.5 mil)

Median PSF for serviced residences at St. Regis: RM 2,063

Not known to many, St Regis’s first six floors are designated for an exclusive and luxurious 6-star hotel, whereas the seventh floor upwards is residential units. Residents enjoy extravagant facilities with an in-house jogging track, salon, sauna, jacuzzi and clubhouse. There’s also a nursery and a wading pool for children. The residential units here range between 766 sq ft to 4,523 sq ft while most units are semi-furnished. Its location is also strategic as the public transportation hub KL Sentral is only 600 m away while also being accessible via Jalan Damansara and Jalan Syed Putra.

2. Bungalow, Kenny Hills – Bukit Tunku, Kuala Lumpur (RM 12.0 mil)

Median PSF for bungalows at Bukit Tunku: RM 677

Kenny Hills in Bukit Tunku, Kuala Lumpur made it to the top two of the list of the most expensive homes in Malaysia for two years in a row. Home to many wealthy residents and expatriates, including foreign ambassadors, Kenny Hills comprises huge mansions and custom-built homes. It is also near other affluent neighbourhoods such as Mont Kiara and Bukit Damansara. Kenny Hills is reachable via Jalan Tuanku Abdul Halim, Sultan Iskandar Highway and DUKE Highway.

1. Bungalow, Damansara Heights – Bukit Damansara, Kuala Lumpur (RM 16.0 mil)

Median PSF for bungalows at Damansara Heights: RM 702

 A bungalow in Damansara Heights, Bukit Damansara was Malaysia’s most expensive home sold in 2019. The enclave of Damansara Heights is one of the most affluent in the nation’s capital with its sprawling bungalows, villas and other luxury residences. Its immediate affluent neighbours are Bukit Kiara, Sri Hartamas, and Bukit Tunku. Other than upper-class Malaysians, expatriates are flocking to this area for its trendy nightlife as well as a selection of bars and restaurants.

NOTES

1) The transaction data is from the Valuation and Property Services Department (JPPH) which officially records a property transaction once the stamp duty for the Sales and Purchase is paid. Analytics is based on the data available at the date of publication and may be subject to revision as and when more current data becomes available.

2) The median sales price quoted for each project are the latest figures obtained from brickz.my.

3) Detailed information (owner, lot number, etc) of each property is not disclosed for privacy reasons.

— End of Press Release —

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Press Release: IRINA provides a fresh take on RUMAH SELANGORKU to help young homebuyers

When it comes to affordable housing in Malaysia, a balance between quality, comfort, and price is rare. But with the current climate that homebuyers are facing, affordability and fulfilling life are undeniably what they need the most, and developers must work towards fulfilling this gap in the property market.

In a market saturated with luxury developments, property developer Myra is staying true to their words in helping first-time homebuyers to own their dream homes by continuously ensuring the supply of practical and affordable homes to meet the needs and demands of their target market.

In their latest initiative to make the biggest purchase of one’s life easy, Myra presents their latest residential development, Irina by Myra, a low-density high-rise Rumah Selangorku (RSKU) project, where they offer their take to redefine misguided notions about government housing.

“RSKU projects don’t usually have the best of perceptions as they’re often thought of as basic homes that do not have any thought put into its aesthetics or practicality. Even with an attractive price point, RSKU projects are shunned for their small space, while some come without tiles and facilities. Irina seeks to change this perspective by emphasizing that one can obtain a life of quality even with pocket-friendly housing projects,” said Wendy Lim, General Manager of Sales and Marketing.

Located in the booming township of Puncak Alam, Irina places emphasis on chic and elegant facade paired with greenery and landscaping as its key focus. Built on a 4.3-acre land with a total estimated gross development value (GDV) of RM 66,920,000, it comprises 394 homes with 3 different unit design layouts (B, C & D). Each unit comes with an indoor and outdoor kitchen, while maintenance fees are estimated at RM 120 to RM 150.

Type B has a total of 148 units with a 750 sqft built-up. With 3 bedrooms and 2 bathrooms, and 1 allocated car park slot per unit, the price of a Type B home starts from RM 100,000.

There’s a total of 50 Type C units with a 900 sqft built-up. With 3 bedrooms and 2 bathrooms, each unit starts from RM 180,000 and 2 car park slots will be provided per unit.

Type D makes the majority of units with a total of 196 houses. With the largest built-up of 1000 sqft, Type D houses start from RM 220,000 as it offers 3 bedrooms and 2 bathrooms, and 2 allocated car park slots.

The 3 bedrooms and 2 bathrooms layout of Irina units were specifically designed to cater to young couples who have just started a family. As a result, all 3 types provide practical options for different homebuyers or families with different sizes and lifestyle. Considering the importance of space for growing families, each unit comes with a spacious yard to accommodate greater ease of chore-doing which can also be converted to a wet kitchen for those wishing to take their passion for cooking a step further. Both Type C and D units also come with a spacious balcony that every family would be able to enjoy.

Even at a reasonable cost, homebuyers at Irina can expect more than basic RSKU amenities, from the 24- hour gated and guarded community that ensures safety to the various facilities and environments enclosed within the project. Myra understands that carrying out activities and spending time with loved ones is how life becomes meaningful. Therefore, homebuyers will have access to an array of amenities surrounded by a stylish facade, including a multipurpose hall, tadika, surau, futsal court, jogging path, playground, pond, and reflexology path. On the 10th and 11th floor, green spaces feature an additional kids’ area and reflexology path to accommodate more residents, while the 12th floor will be an open space area with a double volume ceiling height that overlooks the communal area at Floor 10 and the landscaping below.

Besides meeting the practical needs of young growing families, Irina by Myra provides a great investment opportunity for homebuyers due to its location. Known as the next “Damansara”, Puncak Alam has various amenities already in place with many more on the way. But despite its growth potential, the township lacks affordable residential options that are in line with the government’s vision. Hence, this exciting launch makes Irina the only available RSKU home in Puncak Alam for the time being. Moreover, its strategic location offers 6 different accessibility options for residents to travel to other hotspots around Shah Alam, Subang, Damansara, Sungai Buloh, Klang and Rawang.

As an RSKU project, Irina stands out in terms of affordability. Compared to the abundance of luxury landed homes within the area, buying a home at Irina only sits at an average cost of RM 500 per month. For renting within Puncak Alam, the average price ranges from RM 620 for a bare unit to RM 800 for a partially furnished unit. With this, the money saved by owning an Irina home alone can be used for investing in homebuyers’ future.

“As a property developer, we need to be flexible and adapt to the ever-changing values that homebuyers are looking for, and to build homes to meet those needs. It’s challenging to make homebuyers choose between price and living a more fulfilling life because a home, after all, is a basic necessity. We have worked hard to bring innovations that are instilled into Irina by Myra despite it being an RSKU project, and it won’t be the last time that we offer something new and refreshing to the people of Malaysia,” Wendy added.

To keep up to date with their latest developments, as well as practical tips and advice involving property and finance, you can reach Myra on a WhatsApp link or follow Myra’s profile on Facebook, Instagram, and Twitter. For more information, visit
http://www.myra.com.my
.

— End Of Press Release —

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Press Release: KL 33 PROPERTIES UNVEILS INDUSTRY’S FIRST COVID-19 SECURE OFFICE

As businesses refocus operations from Covid-19 preparedness to business recovery, it is time for the property sector to rethink how commercial office space can be revitalised and re-opened to ensure workplace continuity and wellness. This is the message from KL 33 Properties Sdn Bhd (KL 33 Properties), owner of
Menara KL33
, to office building owners, landlords and managers.

With theCovid-19pandemic bringing heightened awareness on the relationship between physical environment and human health, KL 33 Properties has charged ahead to unveil the industry’s first
‘Covid Secure’
 office space at
Menara KL33
, an integrated commercial building strategically located in the central business district within the bustling Kuala Lumpur Golden Triangle.

A first-of-its-kind in Malaysia, the fully furnished
‘Covid Secure’
 office spaces are specifically reconfigured and retrofitted according to the six feet social distancing rule to prioritise the safety, health and wellbeing of occupants and tenants.

KL 33 Properties Executive Director, Tan Kok Leong, said, “We are glad to see more people are able to return to office following the gradual reopening of various business sectors. While many are looking forward to return to office, we cannot ignore the high level of anxiety and uncertainty among some office occupants. By pivoting the ‘
Covid Secure’
 office concept, we are able to meet the changing requirements of workplace operations, and more importantly, provide an environment that instils confidence that it is safe to come back to the office again.”

KL 33 Properties has also introduced an innovative ‘Easy Lease Programme’ to help companies to bring their workforce back to office safely, but, minus the exorbitant initial set-up costs. Under its ‘Easy Lease’ programme, companies can amortise all direct costs involved in renovating and retrofitting the office into the monthly rental, with a flexible leasing term, from three months onwards.

“In the wake of the Covid-19 pandemic, many companies are operating under tremendous pressure, juggling between the need to jumpstart business, while, managing a safe return-to-work experience. KL 33 Properties is committed to doing our part to help lighten the burden of our tenants. The new ‘Easy Lease’ programme is targeted at budget-conscious companies, especially young start-ups, so, they can quickly bring their workforce back to a Covid-secured office, while at the same time, preserving cash to tackle economic challenges,” Tan said.

According to a recent online poll conducted amongst the occupiers of properties owned and managed by the KL 33 group of companies, organisations navigating a safe office re-occupancy are placing sufficient physical distancing, cleaning protocols and modification of amenities as their top three considerations.

To embrace the new normal in workplace operations,
Menara KL33
, a Grade A office building spanning 25 floors, has been reconfigured to fit a post-Covid-19 environment. The vacant workspace layout and interiors could be retrofitted to adhere to the World Health Organisation’s (WHO) recommendation of 6-feet distancing between each person in all workplace settings including workstations, meeting rooms and even in the pantry.

Other innovative features include biometric and thermal screening at the building main reception area and individual office entry; a single direction traffic flow for common areas and all points of entry and exit, as well as touchless contacts for restrooms, to reduce direct contact with various surfaces.

With increased awareness for how re-circulated air can be treated to prevent the spread of air borne contaminants in the buildings, the central air ventilation system in
Menara KL33
 has been modified to provide more fresh air in the indoor environment, while, tenants have an option  to install additional Ultraviolet Air Sterilisers to reduce airborne microorganisms.

To provide a greater sense of security and contract tracing, all visitors to
Menara

KL33
 will be required to submit their contact details using a QR code provided upon entering the building. Cleaning and sanitation procedures are also enhanced to ensure commonly touched surfaces are sanitised three times a day, and frequent disinfection will be carried out at all high-traffic areas within the building.

Looking ahead, KL 33 Properties remains confident about the long-term outlook for the office space sector. “The demand for office space will definitely change after Covid-19. We believe the rise of remote working will not dampen the demand for office spaces. Commercial office space still plays a central role in promoting productivity and collaboration, and it is also one of the key factors in attracting and retaining talent. In fact, some corporations may even increase the size of their office in order to bring the entire workforce back to work while abiding to the physical distancing rule,” Tan explained.

“The Covid-19 pandemic has certainly brought a paradigm shift to the design and usage of office spaces.  KL33 Properties is working closely with our real estate consultant, JLL Property Services Malaysia, to help tenants re-imagine the ‘office of tomorrow’.  In redesigning office layouts, safety and wellbeing protocols as well as amenities management will have to balance between health risks and workplace productivity. This is crucial to ensure the long-term resilience of the commercial office sector,” Tan said.

Menara KL33

‘Covid Secure’
 office show gallery is now open for viewing, every Monday to Friday, from 9:00am to 6:00pm. For more information, please contact Ms Lim Yen Yeng at Tel: 016-631 7803 or email:
yen@jaya33.com
. For registration and further information, please visit
www.kl33.my

About KL 33 Properties Sdn Bhd

KL 33 Properties Sdn Bhd is the owner of
Menara
KL33
, a high-rise commercial building strategically located along Jalan Sultan Ismail, Kuala Lumpur’s prestigious corporate district and tourist area.
Menara KL33
 offers unobstructed, commanding views of the KL Golden Triangle area. It is in excellent proximity to shopping malls, hotels, residential and office buildings. The building has a total net lettable area of approximately 195,943 sq ft with over 8,000 sq ft allocated for individual office floor leasing.

-End of Press Release-

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