First Ever Asia Virtual Property Expo hosted by PropertyGuru

Press Release: PropertyGuru Hosts First Ever Asia Virtual Property Expo

KUALA LUMPUR, 10 November 2020
 – PropertyGuru Group (‘PropertyGuru’ or ‘the Group’), Southeast Asia’s leading property technology (“PropTech”) company, today announced that it will host Asia’s largest multi-country ‘Asia Virtual Property Expo’ from 11 November to 12 December 2020.

As the market leader in Southeast Asia, PropertyGuru will leverage its regional presence to showcase over 300 projects from across 10 countries including Singapore, Malaysia, Indonesia, Thailand, Vietnam, Cambodia, Philippines, Myanmar, Australia and the United Kingdom under one virtual roof.

The month-long virtual event mirrors that of a physical expo, allowing homebuyers and investors to experience local and international properties and connect with property developers in real-time from the comfort of their homes.

Property seekers will be able to navigate the virtual booths under any of the five country or international pavilions and explore some of the best projects available. They will also be able to interact with participating developers and agents on-demand and walk through desired projects in real-time as well as avail exclusive deals.

Leading the experiential showcase is a tour de force of over 80  Malaysian projects by world-class developers like Sunway, Tropicana Corporation Bhd, Malaysian Resources Corporation Berhad (MRCB) and Matrix Concepts Holdings Berhad, highlighting premier offerings such as Sunway Velocity TWO, Edelweiss Services Residences@Tropicana Gardens, Tria@9 Seputeh and Chambers Kuala Lumpur respectively.

The country’s eminent representation in the regional platform underscores the achievements and efforts of domestic players, as well as PropertyGuru Malaysia’s emergence as the nation’s largest property site, as recognised by the Malaysia Book of Records, with the most-curated solutions, listings and guidance for Malaysians who want to find, finance and own their own homes.

“We are excited to host the largest multi-country virtual property expo in Asia. COVID-19 has rapidly evolved the way consumers are exploring properties and many are increasingly using virtual tours and digital tools to continue transactions.

“Our
recent survey
 has shown that 76% of consumers use property portals while 64% use social media platforms and 42% prefer blogs/ online articles.

“Amidst these new trends, our expo brings the best projects and developers of the region to the fingertips of property seekers across Asia, without compromising their health and safety.

Through the virtual expo, we hope to make property transactions borderless and offer all necessary services to buy a home, under one roof – from exploring projects with an immersive experience through
FastKey
 to fast-tracking their home loan with a 99.99% accuracy check with
PropertyGuru Loan Pre Approval
.

This is a step further in our commitment and continued efforts to digitize the property industry as we empower consumers to ‘Find.Finance.Own’ their homes with us,” said Sheldon Fernandez, Country Manager, PropertyGuru Malaysia.

With the Group’s proprietary property information and insights to guide property seekers, making an informed decision just got easier and a click away with the ‘Asia Virtual Property Expo’.

Visitors can also obtain the latest property trends, insights and hear from leading experts by attending as many as forty always-on webinars and live chats. PropertyGuru brings together market-leading offerings from
PropertyGuru FastKey
, to
PropertyGuru Finance
, and
Asia Property Awards
 all under one digital roof, to deliver an engaging and immersive virtual experience for property seekers, agents and developers alike.

Industry-first property buying & selling resources under one digital roof:

**At the Asia Virtual Property Expo, PropertyGuru brings together all its market-leading offerings along-side some of the best property projects available in the region:

Best projects of the region:
Asia Virtual Property Expo will feature some of the best projects available in the region, from leading property developers in their individual country pavilion as well as within the international Pavilion
Malaysia:
 Tropicana Corporation Berhad, MRCB, Sunway
Indonesia
: Sinarmasland, Intiland and Pondok Indah Group in the Indonesia country pavilion in partnership with Bank Negara Indonesia
Singapore:
 Sim Lian Group Limited, Kajima Development Pte. Ltd. and Singapore Press Holdings Ltd., UOL Group in the Singapore country pavilion in partnership with ERA
Thailand:
 Ten Thai Development Co. Ltd., The One Estate Development Co. Ltd
Vietnam
: Ecopark Corporation Joint Stock Company, Van Phu-Invest Investment Joint Stock Company
UK:
 Berkeley Group as the exclusive UK developer
Cambodia:
 Meridian International Holding
Australia:
 Australia’s Fragrance Group
PropertyGuru FastKey
 (end-to-end property sales enablement solution that connects property developers to agents and buyers) powers the virtual booths with vivid & immersive display of the projects, providing lead management to interested buyers, to marketing these projects via its Agent Marketplace to property agents across Southeast Asia
PropertyGuru Finance
, the Group’s mortgage marketplace will offer mortgage consultancy and services via a live chat function to Singapore buyers

While attendees discover their dream properties, they also stand a chance to win weekly lucky draw prizes, including an iPhone12, Samsung Galaxy Note 20, Samsung 43” 4K Smart TV, Brompton Bicycle, and the all new Sony PlayStation 5.  Furthermore, PropertyGuru will be giving away GrabFood vouchers totalling up to RM50,000 for the first 2000 project enquiry forms filled.

To experience PropertyGuru Asia Virtual Property Expo, please visit:
avpe.propertyguru.com

— End Of Press Release —

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Property issues in our new Asian Tiger journey

I love the title for REHDA Institute’s (RI) recent event:
Budget Commentary 2019: Asian Tiger – A New Journey.
 As a Malaysian, I believe we share a shared responsibility towards our journey to become an Asian Tiger. Let’s roar, in the near future. Dato’ Jeffrey Ng Tiong Lip, Chairman of REHDA Institute gave his assessment on the recently announced P2P framework for the potential buyers to start their property investment journey. I think his speech is simple and clear. He said This p2p framework is a hybrid of home ownership scheme and a property investment scheme, detailed mechanism of which is not clear and we definitely need further clarifications on the implementation and regulatory structure.” He then gave two very
important points
 which is already being discussed by many property people. They are as follows:

The 20% down payment –
As the initiative is targeted at first time home buyers
for properties between RM300,000 to RM500,000, we foresee a problem in buyers coming up with such down payment of between RM60,000 to RM100,000. As it is today, a 10% downpayment is already a huge hindrance to home purchase for most first time buyers and as such, will the target group be able to meaningfully participate in the Fund MyHome scheme?

2.
Risk vs benefit
– At the end of 5 years, the participant will have to either sell, top up the 20% value according to a market value/refinance the house to fund the other 80%. We need a more balanced risk / benefit treatment between housebuyers and investors because home owners may lose their downpayment in the event of a market downturn but will not gain if capital appreciation is not more than 20% over the next 5 years. On the other hand, investors will get 100% of the first 20% gain upside and will not lose in the event of 20% depreciation in value.

Beyond just the P2P initiative, RI has also proposed a Residential REIT in their Affordable Housing Report. This is to provide rental public housing for the B40 group. RI will continue to pursue this financial framework to help the government build more rental public housing for the nation. This proposed Residential REIT is different from the FundMyHome initiative which is targeted on boosting demand. Residential REIT is focused on assisting the government to build up the supply of public social rental housing for the lower income group who cannot afford to buy. RI will be formally submitting this proposal to the government and will be engaging the Ministry of Finance on this new transformational financial vehicle for the rental housing sector.

I personally think we should welcome all initiatives whether it’s to increase the demand for homes
(this will help to reduce the unsold properties in the country).
However, it’s extremely important to focus on building homes which are good enough for the people at a low enough price so that the B40 could own a roof over their head. Rental schemes if any should only be for the short term because to many, property could be thought of as a ‘forced savings’ which will be very useful when they retire and stop earning monthly incomes.  Happy journeying, Asian Tiger.

written on 14 Nov 2018

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Ask this first: Who is your target market?

A few days ago, I attended the
Property Outlook 2017 organised by BLT
. There were a number of forums within the one-day event and I was involved in one of them as a fellow panelist. The session was titled, ‘Tenant or Owner?’ I am honoured to share the stage with fellow panelists, Ms. Prudence Wong and Mr. Alan Poon. Both have by far more experience than me when it comes to property investments. One question which was asked by the moderator Mr.Richard Oon was, ‘How should one start their property investment?’ Personally, I shared that it’s important to understand the
‘Why’ instead of always the ‘Where.’

The main reason is so that we can find some undervalued properties instead of only buying at popular areas which would already be fully-valued or even over-valued. Yes, I use the same technique for stock investments too. I will NOT buy the fully-valued stocks regardless of whether they are the bluechips loved by everyone. So, location to me is important as one of the factors but ‘Why that location,’ is a more important question to answer.

Ms. Prudence Wong then shared something very fundamental which I think everyone must think hard before they decide whether or not to buy that particular property. ‘Who is your target market?’ She shared that some of her friends told her that they got ‘burnt’ in their property investment. When she asked them the question, they could not provide a proper answer. Some would answer, ‘Oh I will rent out to students.’ Her next question would be, ‘
How much can you rent out to students?’
 Again, the answer is not forthcoming. Seriously, whether we are buying for capital appreciation (mostly) or for long-term rental (potentially), do we know who is our target market? Assuming we are buying a landed property, the target market can be wider to include families too. However, the question remain, how much would the future buyer be willing to pay? We should at least do some homework, understand other areas and estimate. Without any due diligence, it’s going to be a risky investment.

For those who are buying because they want to
rent out to office workers or students
 or even factory workers, do we already know what’s the typical rental like for these different categories? A young friend recently asked me if she should proceed with an affordable apartment in Penang. I asked who’s her target market if she would be renting it out. She said she will rent out to students. I asked how much would the students be willing to pay? She said she does not know. However, the students studying at the institution are not known to be from rich families. In other words, the pressure to rent higher than her mortgage is going to be huge and most probably, it will be
continuously negative for some time.
 I think this is the reason why Prudence tried her best to explain why everyone must answer this fundamental question before they even say they want to start property investments. Let me ask this question again, ‘Who is your target market?’ Kindly answer before we buy. Cheers.

written on 8 Jan 2017

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Asking prices are dropping in property market Malaysia in Q1 2021

Press Release:
PropertyGuru: Property Market Sees Slight Dip in Asking Prices,

Expected to Stabilize with Vaccination Programme and Government Incentives

Overall asking prices in Malaysian property market registered a downtrend by 0.84% in Q1 2021
Property supply recorded a spike of 15.85% YoY, indicative that developers are confident that recovery is on the horizon
Market recovery expected to improve as COVID-19 vaccinations progress

Kuala Lumpur, 27 April 2021:
PropertyGuru
, Malaysia’s No. 1 property website, announced that its latest Malaysia Property Market Index (MPMI) report registered a downtrend in overall asking prices by 0.84% QoQ and 1.79% YoY – to 87.86 index points – in the first quarter of 2021.

This dip may be attributed to buyers’ apprehension as they take a wait-and-see approach due to the resurging COVID-19 infections and the imposition of a second Movement Control Order (MCO 2.0) which impacted commercial activity.

“With the backdrop of pandemic-related economic uncertainties, we believe that the market sentiment will remain cautious as the property market is expected to see fluctuating price trends in the coming months. However, the increased rate of vaccinations across Malaysian society is expected to bring more stability and improve consumer sentiment as the year progresses,” said Sheldon Fernandez, Country Manager of PropertyGuru Malaysia.

He added that the government’s plan to extend the Home Ownership Campaign (HOC) till the end of 2021 is also a welcomed boon to the market, as it will continue to play an important role in spurring buyer interest as economic conditions begin to improve across the year.

“The HOC has proven to be an effective stimulus to the economy and it has undoubtedly helped to reduce the burden of house buyers during this difficult time. If the government does decide to extend the duration of the HOC until this year end, we encourage home seekers to take advantage of the available incentives, current low prices, and conducive interest rates,” added Sheldon.

Price corrections observed in Kuala Lumpur, Johor, Penang

In Kuala Lumpur, Johor, and Penang, the overall asking prices dropped by 0.66%, 0.29%, and 1.36% respectively QoQ, while Selangor sees asking prices remain in the positive territory at 0.01%.

In Q1 2021, Kuala Lumpur’s YoY asking price dropped by 5.00%, the highest recorded dip since PropertyGuru launched its market index in 2016. This more than two-year downtrend is now being accelerated by the pandemic and can be seen as a price correction trend that began following a challenging economic period and highly-priced mismatched property offerings.

This similar downward trend in asking prices is observed in Penang and Johor as well, both of which have witnessed a long trend of downward price movement since Q1 2019 and Q4 2017 respectively.

“The property prices in these key markets are stabilising and adjusting to a more affordable range, and the continuous decline in asking price makes this a buyer’s market now. The price corrections across KL, Johor, and Penang represent strong opportunities for the investment and purchase of properties,” said Sheldon.

He added, “Despite the current challenges, Johor has strong potential for the future due to its symbiotic relationship with Singapore and the geographic advantage it offers in terms of lower-priced properties. Meanwhile, Penang is often seen as the place for retirement for Malaysians and foreigners alike. It was recently ranked by
Travel Awaits
 as the third best island in the world and first in Asia to retire in 2021.”

According to MyPropertyData, Malaysia’s largest online property data company under PropertyGuru, investors make up 79% of the property transaction in Malaysia last year, an increase of 38% from previous year. The price correction trend observed in KL, Johor, and Penang may continue to spur this growth.

On the other hand, Selangor’s resilience in the current crisis environment is boosting confidence in development activity in the state. This comes after a sharp decline in the number of total residential property transactions in Selangor between 2019 and 2020, as reported by MyProperty Data. The total number of transactions in 2020 for various property types in Selangor such as terraced houses, condominiums/apartments, flats, semi-detached houses, and serviced apartments have decreased between 41.18% and 61.67%, as compared to 2019. This is a common trend across most markets in Malaysia due to the uncertainty brought about by COVID-19.

Selangor’s resilience and stability amidst this crisis can be attributed to its robust population growth as well as its position as the most economically vibrant region in the country.

Property supply not hampered by COVID-19

While the overall asking prices in Malaysia have dropped both on a QoQ and YoY-basis, in contrast, the MPMI found that the overall supply listings tracked on PropertyGuru saw a growth of 2.71% QoQ. It also recorded a spike of 15.85% YoY in Q1 2021, the highest growth since Q1 2020, indicating an upward trend. In Penang specifically, the state recorded the highest spike in yearly supply volume, registering a 34.17% YoY increase, and a 1.19% QoQ gain – a positive growth for the third consecutive quarter.

The robust turnaround of supply volume in key regions in Malaysia is likely due to the government’s decision to allow the construction and property development industry – along with other vital sectors – to continue operating during recent periods of heightened movement restrictions. This indicates that developers are confident that recovery is on the horizon.

Sheldon said, “While the current environment of once-again eased restrictions offers room for improvement in Q2 2021, the property market is expected to put in a mixed performance for the duration of the year due to persistent uncertainties. However, we believe that consumer confidence in the property sector will regain as we progress through 2021, supported by a strong vaccination programme and favourable government incentives.”

— end of press release —

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Aspen Group: Growing fast, listing this year.

I wrote about a RM299,000 condo in Penang by Aspen in 2014. It garnered lots of interest within the first few hours. Read here:
Buying Penang condos? 14,000 views in 3 hours says it all
  Aspen is considered a new developer based in Penang and in a recent news announcement, its chief executive officer Datuk M Murly said the group intends to list publicly within this year. It is currently in advanced stages of discussion with Singapore authorities and this should be completed within the Q2 2016. Besides that, they have also started talking to some banks in Malaysia. The listing would enable the group to generate fund for new projects for the group beginning 2017 onwards.

According to Murly, some of its upcoming developments include the RM620mil Vertu Resort in Batu Kawan, the RM135mil mixed-development Beacon project in Sungai Pinang, and the RM637mil HH Residence scheme in Tanjung Bungah. The total gross development value for these would be RM1.392 Billion. This is no longer considered small for such a young developer. By 2017, it will launch the Nouvelle Residence in Subang. Within 2015, Aspen achieved a total sales of RM900 million which is considered extremely healthy with many developers cutting their targets or scaling back launches etc. For 2016, the group is targeting to achieve a RM400mil to RM500mil revenue and a net profit of about RM90mil. This is around 20 percent which is healthy.

Vertu Resort will be located wihin the Aspen Vision City project in Batu Kawan. Read here:
Vision City, the VERVE and IKANO for mainland Penang
 Vertu Resort is the first residential development in Aspen Vision City. It will be previewed to existing customers and interested parties from Jan 22 – 24. (Yes, that’s just 2 weeks away). It will also be the first condominium project in Seberang Prai with a Green Building Index (GBI) certification. According to information from penangpropertytalk.com, the indicative price is between RM350 – RM380 per sf. No further information is available but I think it may be trying to appeal  via affordability factor as well as the fact that buyers may be buying into the future IKEA site. Read here:
2018 IKEA Batu Kawan, RM8 billion Development, 10 years to complete

Frankly, not many companies would be looking at listing in the current situation. Especially when the stock market just got a hammering days ago. However, for companies with healthy profits with an eye on gaining some public funds for its future expansion, I think it is still okay. Perhaps this is what Aspen is banking on and I think the Singaporean authorities would also welcome any potential listings as the number of listing these days are much smaller than previously. Listing in Singapore has its advantages too. This will give it more visibility among Singaporean buyers who may be thinking about Malaysian properties. If you like their story but not their property, perhaps can consider buying their stocks within 2016. Happy buying.

written on 6 Jan 2016

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Press Release: Development of RM1 billion in Johor by Astaka Holdings and DMR Holdings jointly

To be completed in phases over 5 years, the joint development projects comprise of mixed commercial developments and a light industrial park spread over key locations in Johor
The joint projects mark the Group’s first foray into industrial development, having built its reputation in residential and commercial developments.
This reiterates the Group’s commitment towards propelling Astaka as a prominent integrated property developer in Johor.

Johor Bahru/Singapore, 24 January 2021 – Astaka Holdings Limited (“Astaka” or the “Company”, and together with its subsidiaries, the “Group”) is pleased to announce that it has entered into a non-binding memorandum of  Understanding (“MOU”) through subsidiary Astaka Padu Sdn. Bhd. (“APSB”), with DMR Holdings Sdn. Bhd. (“DMR Holdings”) for a potential collaboration to jointly undertake land development projects in Johor, Malaysia.

Building on the recent launch of the latest show units from its flagship residential development, The Astaka @ One Bukit Senyum, the Group will be looking to jointly develop 42 acres of land across various key cities in Johor, including Iskandar Puteri, Tampoi and Pengerang. The development sites are also within close vicinity to prominent establishments, with the proposed site in Iskandar Puteri located near LEGOLAND Malaysia and Kota Iskandar Development, the administrative center of the Johor Government. With a total estimated gross development value of RM1 billion, the joint development projects are expected to be completed over the span of 5 years and comprise of mixed commercial developments and a light industrial park development.

The light industrial park project also marks the Group’s first venture into industrial development. The Group has already made its mark as a premium property developer in the Southeast Asia region, with The Astaka @ One Bukit Senyum being awarded the Best Luxury Condo/Apartment Development Award. The Menara MBJB, a 15-storey Grade A office tower, was also developed to be the headquarters for the Johor Bahru City Council.

These new projects to be jointly developed with DMR Holdings highlights the Group’s intentions and commitment to become a prominent integrated property developer by expanding further on the portfolio of property developments and also by diversifying into industrial developments.

Outlook
The Malaysian property market has begun to recover. While the pandemic has resulted in behavioural shifts in terms of space demands, demand for office spaces in Asia Pacific is expected to increase for 2022.  The gradual reopening has also highlighted the need for businesses to incorporate an omnichannel strategy with retailers looking to increase and build their physical presence as consumers’ demand for interactive and innovative retail spaces in this era of experiential retail.  This is expected to drive up demand for retail spaces as online retailers, such as Taobao and Lazada, looking to create a physical presence in Malaysia.

While the Omicron variant threatens to disrupt the recovery of the Malaysian economy yet again, the government has been actively monitoring the situation and taking necessary steps to avoid implementing another full lockdown. In the recent United States-Asean Business Council (US-ABC) meeting, which was also attended by multinational corporations such as Amazon and Johnson & Johnson, the authorities also expressed their commitment to provide a conducive economic climate and business ecosystem.

Commenting on the collaboration, Mr. Khong Chung Lun, Executive Director and CEO of Astaka Holdings Limited said, “We are excited to announce the potential joint development projects with DMR Holdings. Having closely monitored the Malaysian economy for the past few months, we foresee this to be the appropriate time for us to execute our plans for expansion. While the pandemic has disrupted the global economies, we have continued to identify suitable
opportunities to grow the Group in a well calibrated manner. These joint development projects, if undertaken, will allow both parties to synergise resources, network and expertise to help the Group establish itself as a prominent integrated property developer in Johor.

We would like to sincerely thank DMR Holdings for their faith in us and for their strong vote of confidence for this collaboration. Moving forward, we will continue to monitor the market closely and identify suitable projects to
bring greater value to our customers and shareholders.”

-END –

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Astonishing? Record property transactions after lockdown.

I remember that the first time my wife was able to drive out by herself to the supermarket, she bought many things. I meant, MANY things. Well, the Movement Control Order (MCO) has caused some changes in her. Fortunately, it’s just groceries. In some countries, it’s called revenge buying and it may not be groceries.
Revenge Buying, what’s that really? (click to read)

Yes, in brief, it’s the time when people bought luxury goods because they have not been able to buy luxury goods for a while, maybe a few weeks. Hey, what about property then? Any such situations? Actually I have seen many positive signs here in Malaysia but today let’s just look at the UK.

Article in reuters.com
   Property website Rightmove, which says it is used by 90% of British estate agents, reported the highest number of home sales agreed since it began tracking the data more than 10 years ago, with transactions more than 20% higher than the previous record. This was also inline with the recent figures from the Bank of England which covers June. It showed a sharp rebound for mortgages but fewer loans were approved than before the pandemic.

Rightmove director Miles Shipside said, “Rather than just a release of existing pent-up demand due to the suspension of the housing market during lockdown, there’s an added layer of additional demand due to people’s changed housing priorities after the experience of lockdown.” Do read the comprehensive article here if the UK property market is your next move.
Article in reuters.com

Okay, so this happened in the UK and a private entity has claimed that the transaction numbers are highest ever since its tracking more than 10 years ago. Meanwhile the number of mortgage applications going up is definitely a good sign but then again, this may just be a pent-up demand. Few months where most people could not complete their property transactions and suddenly now all of these deals are in process. Just need to wait a few more months to see if this is really continuing.

Meanwhile, here in Malaysia, the numbers will take a little more time but if we really want, just visit 10 sales galleries during the weekend and we would already have a generally good idea about what’s really happening. By the way, this is how opportunities are found versus waiting until everything falls in place. By then, those best offers may have been replaced with okay offers. Wait a bit more and it may just be overpriced offers. Of course not so soon yeah. Sentiment remains muted at the moment.  Cheers.

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AstraZeneca 1st jab people, check your MySejahtera yeah

Just two days ago, I was telling my family members that those who received AstraZeneca jab will now be getting their second jab in 9 weeks. In fact it’s either AstraZeneca order delivery or the Japan government donated AstraZeneca delivery and since both said it will be early July, that’s why Science, Technology and Innovation
Minister Khairy Jamaluddin
 who’s also the one leading the National Immunisation Programme (NIP) is confident to tell us it will be 9 weeks instead of 12 weeks.

Then, we received the good news. The AstraZeneca doses from Japan has touched down at 5:22pm in Malaysia. That’s a WOW. Well, 7 hours later, at 12:22am, I received the update in MySejahtera App. Yes, my date is confirmed for 2nd jab. To the ones working to ensure all these dates are sent out, thank you.

For the rest of us who have received the AZ first jab, check your app yeah. Happy getting that second jab and do your duty as a Malaysian to protect all other fellow Malaysians too. Happy cucukMyAZ2.

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Press Release: Malaysia’s First SOHO Transit @ Astrum Ampang

Releasing SOHO Suites 1 after overwhelming response from last year’s Phase 1

Following the success of its Phase 1, Astrum Ampang opens its Phase 2’s SOHO Suites 1 for buyer’s registration. The 664 SOHO Suites 1 units are bigger in size than previous release and are in a lower density tower with bigger windows, which allow for better natural light penetration as well as higher energy efficiency.

The units are priced from RM430,000 and are ideal for young working adults, small families and investors who would like to reside or own assets located just 4km from the Petronas Twin Towers. With a gross development value of approximately RM600 million, the Phase 2 of Astrum Ampang comprises of SOHO Suites 1 and SOHO Transit 2.

The affordable units are great for those seeking a home in the metropolis where land and property prices have soared. Home buyers recognise its great potential, translating to an overwhelming 90% take-up rate for the Astrum Ampang’s SOHO Transit 1 since it was released in Q3 of 2021.

“One of the key factors for the high take-up rate is the My First Home Scheme programme that makes property ownership a seamless process for first-time home buyers. The project’s location in a strategic area and being a Transit Oriented Development is another winning factor for the very encouraging take-up rate. We foresee continued encouraging response from the market for our SOHO Suites 1,” said James Bruyns, Chief Operating Officer, Setia Awan Group Central Region.

As its namesake suggests, the development resides in a strategic location at Jalan Ampang and Jalan Jelatek in Kuala Lumpur, being surrounded by international schools, malls, recreational parks and world class healthcare centres. But what truly makes Astrum Ampang shine is its proximity to the Kuala Lumpur city centre and the Jelatek LRT Station, which is just 150 metres away via a proposed covered pedestrian bridge.

This coveted address is only four train stops away from the KLCC LRT station and just one stop away from a proposed MRT 3 station, broadening residents’ access to a great range of places.

With regards to connectivity, the development is well connected to the DUKE, DUKE 3, AKLEH highway and also the prominent Jalan Ampang.

The matured neighbourhood suggests a tried and true location and no stronger statement that the foreseeable future shall witness a favourable rate of capital appreciation and rental yield.

In the bustling metropolis, access to places and conveniences is oftentimes impaired by traffic congestion, taxing our time, patience, energy, and money. This problem is further intensified in the centre of the city where vehicular usage is at an all-time high.

The solution to this comes in the form of TODs or transit-oriented developments which serve to connect residents to public transportations, bypassing the city’s traffic.

It is not just a matter of convenience, but an exemplary case study to showcase roles that property developers play, not only as home builders but also as a force that creates better quality of life for the communities.

And that is exactly what Setia Awan represents, being a reputable developer with an impressive portfolio of property developments with great values for its customers.

This spans residential, commercial, resorts, and many others, not forgetting more than two decades worth of experience. Astrum Ampang, the latest project by Setia Awan Group Central Region with a total gross development value of RM1.6 billion, yet again takes the limelight as the first SOHO transit in Malaysia.

Homes amidst the stars

Astrum Ampang derived its name from the ancient Greek language, which means star. Hence the development is heavily influenced by the cosmic celestial theme where light sources are decoratively interspersed within the development to emulate a starry sky.

The thought of stars brings to mind Astrum Ampang’s sheer height of 57 storeys, granting residents a sweeping view over the majestic Kuala Lumpur skyline, especially during the night.

There is a 5-acres landscaped podium stretching across the development, carefully manicured for decorative as well as recreational purposes. The stellar development shines with 62 choice facilities that are bound to captivate, ranging from an infinity pool, sunken jacuzzi, children’s indoor playground, antioxidant room and more. Its multi-purpose hall, outdoor theatre, community centres and a few other facilities will foster the residents’ spirit of togetherness.

At Astrum Ampang, residents get to enjoy a seamless smart living experience replete with smart technologies such as free WiFi at common areas, a digital community app and an advanced smart gym. The 5,000 sq ft smart gym will host some of the most advanced workout equipment, with the capability for personalised virtual fitness classes.

Being a mixed development, residents of Astrum Ampang will enjoy the services of 27 commercial units at its ground level, an added convenience to the already wide choices of amenities in the area. For more retail and lifestyle experience, the upcoming Datum Mall located beside Astrum Ampang will further complement its residents’ needs.

Adapting to the covid-19 pandemic, a centralised delivery area has been created. Residents will be notified and to collect items once they have been notified of the delivery. Integrating technological advancement into its product, Astrum Ampang has designated an area for drone delivery services, seen as a possible mode of future deliveries.

Then there is the facial recognition system that pervades the whole development, ensuring that physical contact is minimised.

The interplay of technology, conveniences and connectivity makes Astrum Ampang shine as a star development in the heart of the city.

The Astrum Ampang’s sales gallery and show units in Phileo Damansara 1 is open for viewing. To make an appointment or to know more about SOHO Suites 1, kindly contact 018-371 2888.

For more information on Astrum Ampang, visit
www.AstrumAmpang.com

-End-

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PRESS RELEASE:
ASTRUM AMPANG BAGS ‘BEST TRANSIT-ORIENTED DEVELOPMENT’ AWARD

SOHO Suites 1 fully taken up, SOHO Suites 2 is now open for registration

The success of a development is oftentimes accompanied by the many awards and recognition it duly deserves, and the same can be said for Astrum Ampang, the latest flagship project by Setia Awan Group Central Region.

Inspired by the ancient Greek language, Astrum means Star, and the development revolves heavily upon this celestial theme. Hence it is unsurprising that the project has given nothing short of a stellar performance, bagging the prestigious ASEAN Property Developer Awards 2021/2022 for the ‘Best Transit Oriented Development’ category.

Every great development originates from humble beginnings, but Astrum Ampang defies the norm by leaping through the stratosphere with its first property award. This glorious win is a recognition of Astrum Ampang as a superlative transit-oriented development, solidifying its concept relevance and success in the ecosystem of a modern city.

Also a testament to its concept’s relevance in today’s property market, its SOHO Suites 1 which was open to public end of March 2022 is already fully taken up. Responding to the ongoing demands, Astrum Ampang’s 664 units of SOHO Suites 2 priced from RM450,000 is now open for registration.

Transit-Oriented Developments (TODs) reinforce the effort of transforming cities through place-making and more. TODs promote sustainability, ease mobility, increase real estate value, and encourage healthy activities such as walking. After all, a development represents more than just the brick-and-mortar, but a wholesome synergy with the surrounding environment.

Winning the ‘Best Transit Oriented Development’ category is significant for any contemporary development and with this, Astrum Ampang stands out as the best among the TODs in today’s market.

Winning features of a successful TOD

If its achievement as the first TOD with SOHO transit concept in Malaysia does not impress, then be wowed by the key position Astrum Ampang occupies in Ampang. It has numerous amenities within a radius of 6km, including Gleneagles Medical Centre, Great Eastern Mall, KLCC, Pavilion Kuala Lumpur, various other shopping malls, medical centres, education institutions, and recreational parks.

Astrum Ampang with a gross development value of RM1.6bil offers a total of 5,228 units, an impressive array of signature SOHO transit homes, SOHO Suites and serviced apartments which address the pain points of home ownership in the city centre.

Due to the overwhelming response which saw all of its SOHO Transit 1 fully taken up, Setia Awan opened its new tower of SOHO Transit 2 for sale and the interest continues to be encouraging.

Another prime potential of Astrum Ampang is its link to the Jelatek LRT station which is just 150 metres away via a proposed covered pedestrian bridge. Considering this, the project is only four train stops to the KLCC LRT station and only one stop away from an upcoming MRT 3 station. Being a mixed development, residents of Astrum Ampang will further enjoy 27 commercial units at the ground podium, an added convenience to the already wide choices of amenities in the area.

“Astrum Ampang is not only here to set the record as the first TOD with SOHO Transit in Malaysia. It is going to redefine the concept of transit-oriented developments in this country. Where people see a prestigious address in Ampang, we see a finely tuned equilibrium that is akin to an art form, of pricing, exclusive facilities, conveniences, and livability, the hallmarks of successful property development,” said James Bruyns, Chief Operating Officer, Setia Awan Group Central Region.

With regards to connectivity, the development is highly accessible to the DUKE, SPE, AKLEH highway, and not forgetting the prominent Jalan Ampang. This highly developed neighbourhood and the healthy demand it enjoys further point toward Astrum Ampang’s potential to flourish, which means a good rate of capital appreciation and rental yield.

An address worthy of the stars

Night time is a magical moment at Astrum Ampang, for the darkness reveals another side of its splendour. At a height of 57 storeys, Astrum Ampang provides residents with a breathtaking vista.

Residents will find their lives being enriched by 62 choice facilities, ranging from a children’s indoor playground, sunken jacuzzi, infinity pool, reflexology room and not forgetting, a 5,000 sq ft smart gym that comes with the most advanced workout equipment.

Community spirit is nourished at the multi-purpose hall, outdoor theatre, and community centres. The facilities are spread across 5-acres of landscaped podium stretching across the development, carefully manicured aesthetically for functionality and recreational purposes.

Astrum Ampang is further influenced by the cosmic celestial theme, where light sources are decoratively interspersed within the development to emulate a starry sky. These are more than aesthetic embellishments, but an underlying statement towards Astrum Ampang’s potential to reach out to the stars.

For more information on Astrum Ampang, visit
www.AstrumAmpang.com
.

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Press Release: Astrum Ampang- Embracing The Urban Lifestyle

Press Release: Embracing The Urban Lifestyle

Setia Awan Group Central Region’s Astrum Ampang is all set to be the brightest star in Kuala Lumpur’s property market. Located along bustling Jalan Ampang and Jalan Jelatek areas, the 6.8-acre mixed development will soon shine with major real estate attractions such as location, accessibility, convenience, affordability and urban living. Combined with an appealing design and a never-seen-before concept in Malaysia, Astrum Ampang will transform the landscape of city living in Malaysia’s capital city as we know it.

Seeing excellent response for the Brezza One Residency, Setia Awan is now launching its latest offering, Astrum Ampang, a mixed property development. Creating history as the first ever development with a Transit Oriented Development (TOD) and SOHO Transit concept in the country, Astrum Ampang has a long list of facilities and amenities that will add on to the magnetism for young working professionals to live, work and unwind in the vibrant city of Kuala Lumpur.

Located only 4km away from the Petronas Twin Towers, the well-developed neighbourhood is close to popular city landmarks in the vicinity. These include Gleneagles Medical Centre, Great Eastern Mall, and the Ministry of Defence, along with an array of businesses, embassies as well as private and public schools.

Just a brief 150 meters walking distance to the Jelatek LRT Station which is just 4 train stations away from KLCC, Astrum Ampang’s TOD concept stands out from other projects in the city. Following modern and ultra-convenient connectivity in public transport such as Stockholm, Hong Kong, Tokyo and Singapore, the star development was planned and designed to promote public transport ridership, with the aim of creating sustainable growth in the city. Astrum (meaning star in Latin) Ampang, will also be directly linked to the Jelatek LRT station via a covered pedestrian bridge.

Besides the TOD concept, Astrum Ampang’s modern inspiration embraces the “City Within City” concept, creating avenues for residents to live their lives abundantly at the development – all possible with the Setia Awan Group’s Hotel, Office, Park, Shopping, Connectivity and Apartment (HOPSCA) blueprint.

“Astrum Ampang’s uniqueness lies in it encapsulating the first ever SOHO Transit and TOD concept in Kuala Lumpur. It also caters to the rising demand of home ownership by the young, working population in the thriving and exciting Kuala Lumpur. With the SOHO Transit governed by the Housing Development Act and full support from the Ministry of Housing and Local Government (KPKT) and Selangor Housing and Property Board (LPHS), the development provides KL-ites the best of city living,” said James Bruyns, Chief Operating Officer, Setia Awan Group Central Region.

With a gross development value (GDV) of RM1.68 billion, the landmark collaboration will make property dreams of many young independent professionals come true. While having the opportunity to own a contemporary home in the heart of Kuala Lumpur, they are also able to enjoy the many benefits of modern facilities and amenities – all while being close to public transportation.

Designed with practicality and suited to the needs of 30-somethings with the desire to live in an urban setting, Astrum Ampang’s SOHO Transit has a built up area of 280sq.ft, SOHO Suites are 450 sq.ft and the Mampu Milik Service Apartments comprising of 450sq ft & 550 sq ft respectively.

Potential homeowners can look forward to Setia Awan Group Central Region launching its first phase, comprising of SOHO Transit (1360 units) and Rumah Mampu Milik (712 units) for first-time homebuyers from the starting price of RM230,000 to RM270,000. These affordable price points give young working adults the opportunity to redirect their rental overheads towards owning a property with 62 Star facilities and amenities for a comfortable and convenient lifestyle.

Facilities and amenities available for residents include a children’s indoor playground, a multi-purpose hall and Smart Gym to a community centre/co-working space, café, outdoor theatre and infinity pool. Astrum Ampang is also home to a sunken Jacuzzi, outdoor tennis court and reflexology room, among many others. Together with the 27 commercial units catering to residents of the development and other residents in the urban neighbourhood, these elements are designed to give residents a richer, more exciting urban lifestyle.

“While we have only recently branched out to offer our expertise in the big city, our aim has always been the same, which is to build affordable yet high quality homes for all Malaysians. Over the past few years, young working adults continue to constitute a huge percentage of the total working population in Malaysia, but many of them find it challenging to rent, let alone own a home in the city center due to high living costs. Hence, Setia Awan hopes to play a bigger role to enhance the lifestyle of the underserved communities in this market,” said Ng Teck Hua, Executive Director, Setia Awan Group Central Region.

With a completion target in 2026, the group aspires for Astrum Ampang to be the preferred mixed development in the area and aims for the upcoming project to be recognized as one of Malaysia’s most successful mixed-development projects in the near future.

Astrum Ampang is slated to be yet another milestone in Setia Awan’s stellar property portfolio following the successful launch of their first Klang Valley project, Brezza Hill in Ampang. Their steadily growing list of active developments include properties in Melaka, Negeri Sembilan and Perak. The Group is also the current leading property developers in Perak, particularly in Sitiawan and Seri Manjung.

The Astrum Ampang’s sales gallery and show units in Phileo Damansara 1 are now open for viewing. You can make an appointment by contacting 018-371 2888.

For more information on Setia Awan’s latest updates and series of project developments, visit
http://www.setiaawan.com
.

— End of Press Release —

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Astrum Ampang’s SOHO SUITES 2 Launched

Press Release: Astrum Ampang’s SOHO SUITES 2 Launched

Astrum Ampang, the award-winning Transit-Oriented-Development (TOD) located in the heart of Kuala Lumpur, has announced the commencement of sales for its latest addition to the development, SOHO Suites 2 (SS2). The development’s success in recording full take-up rates for its previous products, the SOHO Transit 1, SOHO Transit 2, and SOHO Suites 1, has paved the way for the launch of the SS2.

The SOHO Suites 2 is made up of 664 units with sizes ranging from 450sqft and a minimum of one parking bay, priced from RM472,000 each. Occupying levels 10 to 37, the units featuring a 17-foot-high ceiling are estimated to be completed in Q3 of 2027. “We are thrilled to announce the launch of Astrum Ampang’s SOHO Suites 2, following the success of our previous offerings. Astrum Ampang’s overwhelming acceptance of its Transit Oriented Development concept has created a synonymous relationship between the name  ‘Astrum’ and Setia Awan, which has significantly boosted the brand presence of Setia Awan
in the local property industry,” said James A. Bruyns, Chief Operating Officer of Setia Awan.

Astrum Ampang’s strong factors revolve around its TOD concept. Being within walking distance to the Jelatek LRT Station, it has a proposed covered pedestrian bridge linking the development to the station, which will take commuters only four train stops to the KLCC LRT Station and one stop from the upcoming MRT station. Located only 4km from the KLCC also translates to its residents enjoying easy access to other facilities, amenities, and attractions in the nation’s capital city. It certainly is an attractive lifestyle residential solution in the heart of Kuala Lumpur.

On top of being just 150 meters from the Jelatek LRT Station, Astrum Ampang also enjoys interconnectivity via various highways and expressways such as the AKLEH, DUKE 1, MRR2, and SPE (previously known as DUKE 3). These factors make it an ideal location for residents, particularly working adults, who can enjoy a seamless and more comfortable travel experience.

Astrum Ampang aims to provide homebuyers and residents with convenience and seamless smart living in a modern setting, while also offering the allure of living, working, and unwinding in the bustling metropolis of Kuala Lumpur. It is a city-within-a-city, offering a wide variety of attractive facilities, including a smart gym, four swimming pools, an anti-oxidant room, a children’s playground, and an outdoor theatre for its residents. What’s more intriguing is that homebuyers will have access to 27 commercial outlets on the ground floor, adding to the area’s already diverse range of amenities. For more retail and lifestyle experience, residents can also visit the newly completed Datum Mall located just beside Astrum Ampang.

Being in a well-developed neighbourhood also means Astrum Ampang has easy access to numerous attractions and landmarks in the vicinity, including Gleneagles Medical Centre, Great Eastern Mall, KLCC, and Pavilion Kuala Lumpur, along with an array of businesses, embassies as well as private and public schools.

With its affordable residential lifestyle options, Astrum Ampang is ideal for those looking to reside in the Kuala Lumpur city centre. The show units can be viewed at the Astrum Ampang Experience Centre located at Jalan Ampang (opposite Gleneagles Hospital Jalan Ampang).  Anticipating positive welcome of the SS2, Astrum Ampang has opened registration of interests for its next offering in the fleet, their Serviced Apartments. The 468 units, with sizes ranging from 570sqft to 1,030sqft, are estimated to be priced from RM637,000. The units will be in Tower M, from levels 10 to 47, and are estimated to be completed by Q4 of 2027.

For more information on Astrum Ampang and the offerings of this iconic Kuala Lumpur real estate, please visit
http://www.astrumampang.com
 .

-End-

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Astrum Ampang’s SOHO Transit 2 Opens For Sale Ahead Of Schedule

After making history as the first-ever development with a Transit Oriented Development (TOD) and SOHO Transit concept in the country, property developer Setia Awan opens its Phase 2’s SOHO Transit 2 for sale ahead of schedule due to the overwhelming demand for SOHO Transit 1.

Recognising its great potential and vicinity, Malaysia’s first SOHO Transit 1 received a massive take-up rate of 100% since its launch in Q3 of 2021. Astrum Ampang aims to provide first-time homebuyers with convenience and seamless smart living in a modern setting, while also offering the allure of living, working, and unwinding in the bustling metropolis of Kuala Lumpur.

With a GDV of RM312,800,000, SOHO Transit 2 consists of 1,360 units located in Block R and is priced at RM230,000 each. The 280 sq ft units are within 48 floors, granting residents a sweeping view over the majestic Kuala Lumpur skyline, especially at night.

Property developer Setia Awan also took this opportunity to launch the Astrum Ampang Experience Centre located at the prominent Jalan Ampang where potential homebuyers can view the show units offered as well as some of the exciting 62 facilities such as the Antioxidant Room & Smart Gym.

“Astrum Ampang has so much more to offer, and this goes beyond SOHO Transit units. We are certain these young homebuyers want a home that will improve their quality of life while keeping them close to convenience. Hence their visit to our Astrum Ampang Experience Centre will demonstrate exactly what we provide,” said James Bruyns, Chief Operating Officer, Setia Awan Group Central Region.

Introducing the versatility of TOD

Residents of TODs have it easy with public transportation readily situated nearby. Astrum Ampang has a proposed covered pedestrian bridge which connects it to the Jelatek LRT Station, which is only four train stops from KLCC and one stop from the upcoming MRT 3 station.

TODs are one of the most prominent urban planning concepts in the present era. The use of vehicles has increased over time, and cities have been developed to meet the demands of road users, at the same time maintaining pedestrians’ accessibility and safety. TODs have evolved as a way to encourage more sustainable and healthier built environments.

Residents of TODs can certainly minimise reliance on individual automobiles. Reduced usage of their automobiles leads to less expenditure on petrol, maintenance and other vehicle-related expenses. Total reliance on public transportation also translates to total savings from having to fork out any expenses for individual vehicles.

“TODs provide more than just convenience; it is also about reduced household costs. Understanding the concerns of our young working professionals and first-time homebuyers, we want to provide them with easy access to affordable public transportation. Furthermore, it will promote urban development and minimise carbon footprint, while becoming more productive and livable,” added Bruyns.

Enhanced connectivity and amenities within a smart city

Connectivity and accessibility of a location are among major factors in property investment. We want to avert road traffic congestions which leads to increased travel time and fuel costs. With Klang Valley’s road traffic, we often look for alternative routes to reach our destinations quicker including utilising public transportations. In line with Klang Valley’s continued growth, its public transportation connectivity is rapidly evolving to penetrate wider areas.

Astrum Ampang strategic location offers not only connectivity via LRT and the upcoming MRT, it is also well connected via multiple highways, including to the Setiawangsa-Pantai Expressway (SPE or previously known as DUKE 3). In December 2021 Astrum Ampang’s closest access to the SPE was opened, allowing smoother travel from Setiawangsa to Taman Melati.

The 29.8km SPE starts from MRR2 (where interchange with Jalan Genting Klang/Jalan Kolam Air) and transverse across UTAR, Wangsa Maju, Setiawangsa, Ampang, TRX, Bandar Malaysia development corridor, Kerinchi and connected to SPRINT Highway. It’s also easily accessible from Astrum Ampang and travel through all the city’s key hotspots. Residents, especially working adults, will enjoy a seamless and more comfortable travel experience thanks to its interconnections, particularly DUKE 1, SPE (DUKE 3) and AKLEH.

Astrum Ampang is built with an advanced security system to bring comfort and uplift the quality of living of homebuyers, Astrum Ampang uses a face recognition access control to safeguard the community within. This is the exact way to pursue a smart way of living. Additionally, buyers of the SOHO transit homes will enjoy a brand new modern living experience with fittings such as air-conditioning, kitchen cabinets and smart home systems such as smart lock and Google Assistant.

Connecting homebuyers to numerous amenities within a radius of 6km, the well-developed neighbourhood is close to popular city landmarks in the vicinity. These include Gleneagles Medical Centre, Great Eastern Mall, KLCC, and Pavilion Kuala Lumpur, along with an array of businesses, embassies as well as private and public schools.

Not neglecting the importance of cultivating a close-knit community, Astrum Ampang has 62 facilities to choose from, including children’s indoor playground, multi-purpose hall and Smart Gym to a community centre/co-working space, café, outdoor theatre and infinity pool. What’s more intriguing is that homebuyers will have access to 27 commercial outlets on the ground floor, adding to the area’s already diverse range of amenities. For more retail and lifestyle experience, residents can also visit the newly built Datum Mall located just beside Astrum Ampang.

For more information on Astrum Ampang, visit
www.AstrumAmpang.com
.

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Atria: Not a lot though not too few at least

I was at Atria today for the first time. The new mall which was rebuilt by OSK Property. Since it’s a public holiday, my expectations would be that everyone within the vicinity may be at the mall for shopping, socialising and even simply strolling and browsing. Well, there was a huge group of people, families with kids in the centre of the mall. Everyone was having fun and kids were all running and jumping in the huge inflatable playground. The theme of the day was Thomas and Friends. For those who do not know who is Thomas and Friends, click here:
Thomas and Friends
. So, there were perhaps a few hundred people having a great family time.

Well, for the rest of the shops, at least majority of them, very few people were inside the shops. Starbucks and Coffee Bean were both pretty full and the Pancake House was hugely popular. Perhaps the pancakes are really worth trying in my next visit. I strolled through every floor and the number of visitors really do seem lower than what I expected. Just before I left, I dropped by Village Grocer. Okay, I think grocery shopping remains very important. Everyone has to eat right? This floor, the Concourse Floor the concentration of all foods and beverage outlets and I think is the floor with the most number of visitors. Well, there were no floors without any visitors. The general feeling however is that without more visitors, some of these shops may not be renewing their contract when the term expires.

I think ATRIA is a well designed mall. Reminds me of a more cooling and bigger Publika. No idea on which one has more shops, just a feeling. Of course, in terms of the types of brandnames, I would be more at home with Atria. Both however have many coffee related cafes which is a huge plus for coffee lovers like me. Oh yeah, read my views about Publika here:
Publika Mall, small enough and busy enough for me

I also feel ATRIA is more cooling. Perhaps their air-conditioning is still very new. Parking is also easy as it accepts Touch & GO as well. I seriously think ALL malls should have this facility today. Make it easy to drop by instead of queuing to pay for the parking. For those staying nearby, do appreciate your own neighbourhood mall because without sufficient support, many of these neighbourhood malls would not last long. The fortunate thing is, ATRIA is owned by OSK Property which is considered a financially strong developer. Happy visiting ATRIA.

written on 16 Sept 2015

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Best neighbourhood mall, ATRIA

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Attention and Attraction, always a good Addition. Penang has it.

The first thing my friend told when I visited her condo some years back was, ‘There’s a Petronas Twin Tower view from this window.’ Wow. Anyway,
any high-rise with a pool view

would always have a slight premium over the other side without any particularly attractive view. Of course, if it’s KLCC view, it would command a premium as well. There’s now one more attraction, this time it’s in Penang. KOMTAR would soon have a mural painting which when completed would be the world’s tallest mural. Five Malaysian artists may get their names into the Guinness Book of Records. This “The World’s Tallest Mural project” is sponsored by Only World Group (OWG) and will see the artists attempting to paint a colossal homage to the state and its people on the iconic tower. Full article in
NST here.
The mural painting will start in March and is expected to be completed by October.  The five artists chosen to undertake the project are Bibichun, The Sliz, Kangblabla, Sattama and IMMJN.

Penang Chief Minister Lim Guan Eng said, “Komtar is indeed a befitting canvas for this historic milestone, not only because it is the tallest building in the state but also because George Town is already world-renowned for its vibrant arts and cultural scene and this mural will definitely enhance the cityscape further in this sense.” He also shared that the cost of the mural would be RM300,000 and it is at 230 metres high and 13.1metres wide. OWG chief executive officer, Datuk Seri Richard Koh said they hoped to obtain endorsement from the Guinness Book of World Records for this project. The current record holder for the world’s tallest mural measures at only 70 metres high while Komtar’s massive mural would measure a whopping 230 metres high. OWG was also the company that opened The Top@ KOMTAR last year. It said that this mural is part of the group’s ongoing efforts to revitalise the state’s beloved landmark. (Yes, I do agree KOMTAR is a landmark of Penang. Please do not say you have been to Penang if you do not know where KOMTAR is)

As for properties carrying a premium because they have a view of the mural, let’s just say I am not that someone who will be interested. Then again, I have the same view about
Petronas Twin Tower or even KLCC

view. I think however this new addition will be a tourist attraction anode course this is very good for all the businesses operating around KOMTAR as there would be more visitors dropping by. All the best to the five artists. Stay safe all the time and may Guinness Book of Records accept this as the world’s new tallest mural painting in October 2017. Yes, this is a must go place photo. Perhaps I can drop by after my Penang Bridge FULL Marathon. (Crazy me….)

written on 9 Mar 2017

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Penang property outlook 2017 by Ken Lim, penangpropertytalk.com

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An attractive ‘home sweet home’ a family should consider

I think majority of kopiandproperty.com readers would have already read about my personal opinions when it comes to distance, duration and favourite areas. All of these require balancing between wants, needs and value. In other words, prioritization. With my small family, I look forward to reaching home to a hug from my daughter and a smile from my son, everyday. After dinner, I could go out for a brisk walk or a jog in a safe environment. When my daughter is old enough, she could jog beside me. We could meet some friends from the neighbourhood along the way. Every few days, we would drop by a neighbourhood supermarket for groceries. I seriously believe life should not only be work, work and more work. Of course, if we are over-stretching ourselves to buy properties in the many hotspots today, we may have no choice but to work harder or even getting a second job.

Are we able to be very honest with what we want to have versus what we could afford comfortably? As they say, if we stay further away, it should be cheaper. Whether it would be better is debatable and depends on the overall environment of the place we actually stay. The closer the home is to the office, it should be more expensive as everyone hates losing their precious time in travelling. Let’s look at the travelling time then. Conservatively, I assume everyone spends 30 minutes of average travelling time per day to reach their working place. The right question is, how prepared are we to extend an extra 10 minutes of travelling time daily and gain a few more big extras which these days seem impossible in the usual hotspots within the Klang Valley? What about the prospect of staying in a planned freehold township, within a guarded environment surrounded by lots of greenery, space and landscaped lakes? Actually, kite flying every weekend is possible too.

There is one worth serious consideration. The project is
Nilai Impian
 by an established developer,
Sime Darby Property
. It’s a freehold township of 1,808 acres built for garden living with lots of nature-inspired luxury. I say luxury because many of the following would not be available in developments which has less space. They include landscaped lakes, open parks and friendly features like pedestrian walkways, bicycle paths and playgrounds.

You can view in
Nilai Impian’s website
 but quoting just one example, its Azalea 24 x 74 sq ft linkhouse starts from just RM614,000. It’s cheaper than majority of all the 1,000 sq ft condos in the usual hotspots within the Klang Valley. What if one has to travel to and fro KL for work on a daily basis? Referring to our best friend, google.com, the travelling time (duration) is between 38 minutes to 42 minutes, depending on the routes that we take. Distance wise, it’s between 47km to 50km. I have moved 8 times within the past 18 years of working life. Most of the time, further away for bigger space and better value. Trust me, once familiarity sets in, everything would fall in line and your property would turn into your home sweet home.

How about a few more important reasons to buy? Before I outline them below, I seriously do believe an actual tour of the township would do more justice before you decide. Take a look
here
 and call to make an appointment today. The other reasons include the following:

Potential capital appreciation – There is little chance of flipping for huge profits when it comes to these really value for money homes. Capital appreciation is however quite assured. Just stay with your family and enjoy it for a few years before thinking about anything else. The reason is simple, when the usual hotspots become even more expensive, everywhere else has to follow, up.

Discovery Park – It’s within the township and this is something worth dropping by everyday or during weekends for quality family time. This is an open recreational park where its open-space plaza allows activities such as skating, kite-flying, playing and jogging. This provides the perfect hang-out for family and friends.

Shop and Eat – I would not like to only shop and eat within Nilai Impian everyday. However, on most days where convenience is your main preference, it has grocery stores and various restaurants nearby. Dining choices include fast-food restaurants to diners like McDonald’s and MarryBrown.

Daily Convenience – There are hypermarkets such as Giant, Tesco and even Nilai 3 Wholesale Centre.. At Nilai 3 Wholesale centre you can get great bargains for goods such as textile, furniture, car accessories, carpets, garden equipment, bags, luggage, sexy dressing, ladies accessories and others

Connectivity – Driving out is a breeze too, with direct access with major highways like ELITE and the North South Expressway. This extends the places to visit for dining and shopping.

Commercial Hub – It’s always a plus point to have more potential business opportunities. Nilai Impian is within a mature development including Bandar Baru Nilai and Nilai Industrial Area. In other words, the potential commercial growth in this township is positive and would benefit both the residents and business owners.

Education – Gaining an internationally recognized qualification is easy too. Inti International University is just 11 minutes away. Read here about all their courses.
http://newinti.edu.my/main/

Malaysian community – Nilai Impian has an estimated population of 5,000. This is where community spirit is still very much alive and we may just know majority of all our neighbours.

Regardless of lifestyle changes, more space amidst greenery and lots of well-thought of amenities would always be a good choice. For these huge developments, better to buy from an
established developer.
 When I was studying in INTI College way back in 1994, Nilai had nearly nothing. Today, developments are continuing and this meant population growth would continue to push up property prices due to demand versus supply. Look at future potential by referring to the past happenings. Hotspots of today did not suddenly appear and appeal to everyone. However, if a certain development has things which appeal to us today, we are assured of its future value. If you have a small family and would like your kids to grow up in a better environment than the usual cramped 1,000 sq ft condo, this is definitely worth visiting and deciding upon. Remember, your travelling time is also extended by an additional 10 minutes versus the usual if you currently use 30 minutes to go to work daily. Older folks would definitely enjoy the extra greenery and the clean air too. Your home sweet home may not be a distant dream after all. Alternatively, read and join some of the latest activities from
Sime Darby Property here
.

written on 3 May 2016

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Attractive Malaysian property; ringgit, prime location vs price

When there are some positive news amidst all the negative ones, let’s read about it. Especially when it’s about property. List Sotheby’s International Realty Singapore chief operating officer Leong Boon Hoe said that
developments on prime lands in Malaysia are always “interesting” to those looking to invest in this region. The full article in
TheEdgeMarkets here.

(Actually we can think many things when it comes to the word ‘interesting.’ I prefer to think of it as a positive one. Haha)

List Sotheby’s International Realty Singapore is a member of Sotheby’s International Realty, which has 880 offices with 20,000 sales associates across 70 countries. He also said that one reason for many foreign ultra high net worth individuals (UHNWIs
) are looking at Malaysia because of the weak ringgit.
(To be very direct, please do NOT buy because of weak ringgit alone. Who knows if ringgit weakens further? Of course, should it strengthen further, then that’s double positive investment.)
He shared too that these UNHWIs love properties in prime locations and not bothered with the price. The area? KLCC within KL.

Well, perhaps these three reasons would be better for these UHNWIs to consider and I seriously do believe these people have travelled by far more than most of us and have evaluated by far more investments and viewed more luxury homes too.

i)
Malaysia’s continuous GDP growth
 (trade numbers and especially trade surpluses too). If the GDP growth slows, many things would slow. Whether ringgit goes down or up does not really matter anymore. I think for many more years to come, unless the whole world goes into a crisis, it should still be growing. This is especially because Malaysia is also part of ASEAN and ASIA. China is an Asian country too. 🙂

ii)
Demographics. It’s pretty safe as a longer term investment.

Malaysians are still young in comparison to many advanced nations and this is a great theme moving forward. With these young Malaysians, the vibrancy continues and many more exciting things would happen too. Even if I am older, I would not want to stay at a place where everyone is old like me and preferring to watch TV for example. Personally, I will go crazy.

iii)
Malaysia Truly Asia.

There are not many countries in the world with a melting pot of culture, great food variety, really OLD rainforests, top diving sites, trading powerhouse (top 25…) and even shopping haven. (variety and price). Come to think of it, there’s more but it’s okay. I think it’s enough to say that when it comes to Asia and ASEAN, one very good consideration would definitely be Malaysia. Yeah, I am a Malaysian. 🙂

Happy dropping by Malaysia,
to all the UNHWIs
.
 Do buy within those prime locations so that you have the best views in the morning, within walking distance to a nice mall and every other weekends drop by our sandy white beaches. If I happen to know some of you, I will gladly treat you to a cup of kopi-O and a pack of aromatic nasi lemak followed by a piece of roti canai and last but not least a plate of really delicious dry curry mee. Cheers.

written on 26 May 2017

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When the mind is not ready for property.

What was I worried about just 14 days ago? I could not remember, maybe it was the fact that my weight was increasing again and I was still eating heavy dinners. What do I worry now? My increasing weight is now secondary. The main thing on my mind is the number of new COVID-19 infections. It’s all the news about a potential global recession which some are saying that it may just be a global economic depression instead.

I am also very alert when I am out to buy groceries from the nearby supermarket. Somehow, I want to be far away from everyone. Well, I am not alone. Australians have the same worry as me; COVID-19 worry. This has occupied their mind so much that property auction activities are now trending downwards. By the way, in case everyone does not know, Australians love properties and auctions are the most popular way people sell and buy houses too.

Article in nst.com.my
   Property consultancy CoreLogic said that the preliminary auction clearance rate has slumped to 61.3% from above 70% in recent weeks. This may be a sign that the new social distancing measures to stop the spread of the coronavirus is threatening to scuttle auction activity.  CoreLogic said, “In all likelihood we will see more vendors choosing to withdraw from the market until confidence and selling conditions improve.”

Prices are predicted to fall 10-15% this year as activity slows and the unemployment rate rises making fewer people eligible for new loans to buy homes. This slowdown was after a recovery which started in mid-2019 from a long downturn previously. Economists expect Australia to slip into its first recession in nearly three decades in 2020 and the unemployment to rise to as high as 7.5% from 5.1% now. Please do refer to more details in the
Article in nst.com.my

Clearly not so positive news but I think this situation is similar in most countries affected by COVID-19 currently. As at today (23 March 2020), Australia has a total of 1,622 active cases while Malaysia has 1,345 active cases.
Australia has closed its borders for all foreigners for at least 6 months. (read here)
 Malaysia is in day 6 of the Movement Control Order (MCO) which will end on 31st March 2020 based on the original announcement.

My wish is very simple.  For all countries to start beating back the COVID-19 and we could return to normalcy sooner rather than later. In the mean time, please stay at home and do not be a spreader. ONE person can make a huge difference.  As for the property auction hunters, it may just be a good time to catch some bargains if there are fewer fellow bidders who may just prefer to stay at home instead. Just stay safe yeah. You want to catch the bargain but you do not want to catch the virus.

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RM600 rare banknotes, commemorative gold coins, special serial number notes and more

PR from MNP Auctioneers (Central) Sdn Bhd.

Ever thought of alternative investments which are legal tenders in the country? This is an event not to be missed whether you are a collector or not yet a collector. If you are a collector, register soonest and get ready to bid and win some of these collectibles on auction.  On auction will be 76 pieces of commemorative banknotes issued in conjunction with the 60th Anniversary of the Signing of the Federation of Malaya Independence Agreement. Yes, it’s a RM600 note which meant that this is already a piece of rare note. Since this is a legal tender, it’s even possible to bring it to some supermarkets and buy groceries with it. Well, that is as soon as you have won a piece. Come and see it for yourself.

Source: Bank Negara Malaysia

For the coin collectors, there would be an auction for a total of 195 pieces of gold commemorative coins issued in conjunction with the Installation of His Majesty Seri Paduka Baginda Yang di-Pertuan Agong XV will be auctioned. The reserve price starts from RM4,000 per piece. These coins would also have serial numbers which meant that each piece would be special in its own way. When we look at gold commemorative coins, one of the famous ones would be the 1971 issued Tunku Abdul Rahman 100 ringgit coin which is now worth at least RM25,000.
(According to this numismatics site)
.  No one knows what would be the value of these rare coins in the future. Get one and perhaps leave it for the next generation as a gift from this generation?

The Bank will also auction circulation banknotes with special serial numbers such as sets of the first 10 banknotes (e.g. BW0000001 – 0000010) and super solid numbers with repetitive prefix (e.g. BB8888888).

The auction of commemorative currency and Ringgit banknotes with special serial numbers will be conducted on
Saturday, 10 March 2018, 8.30 a.m. onwards at the Auditorium Sasana Kijang, Bank Negara Malaysia.

The auction will be conducted by the Bank’s appointed auctioneer, MNP Auctioneers (Central) Sdn. Bhd. (MNP).

The online bidding and registration can be completed at
 www.best2bid.com
. Further information on the auction can be obtained at MNP’s website,
www.mnp.com.my
. Kindly contact / WhatsApp MNP’s customer service hotline at 017-400 6661 for more information.

See you on Saturday.

— end of press release —

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Is Auction / Lelong really bad for the property?

Auction Effects –
 I was chatting with a good friend, Ms. L from JB today. She was telling me about the many auction of units at her development. It was just completed 1 year ago. She sounded negative because of these auctions which are happening on a monthly basis. The starting prices for these auction units were also way below what is being advertised as the selling price by owners today. I told her that it’s best that the banks are taking actions to auction these properties off. Frankly, if the bank does not do anything and these owners do not pay their maintenance fees, the whole development suffers. If there are just 50 of these financially distressed buyers and the maintenance fees per month is RM400, we are talking about RM240,000 per year of ‘MISSING’ maintenance fee… As soon as the bank has auctioned off those units, the bank or the new owner would pay the outstanding and we will now have lots of maintenance fund to make the development an outstanding one…

Overstretched owners –
 As soon as any development is completed, there are bound to be some owners who want to sell. This is why the property price for the first 12-24 months may be under pressure due to the sheer number of units up for sale in the market. For owners who overstretched themselves a few years ago when they bought too many units at the same time, I hope they would quickly sell their units at way below the market price and let the new owners take over the unit. Imagine the market price to be around RM800,000 and these owners put their selling price at RM720,000. The price is not low enough to be very attractive and yet will keep the market price for the development to be lower than RM800,000. This does not help the situation and will keep the price of the development low. Once these owners sell to a new owner, there’s no way that the new owner would sell the unit at the same price. They would most probably be able to hold or they may were buying for own stay. This is why once all these ‘must-sell’ units are sold, the property price would start to reflect the market price; against their peers and the surrounding property prices.

Waiting game –
 My good friend is currently putting up her unit for short-term rental via Airbnb. I think she will do just fine once all these ‘should go’ units are sold to new owners. Let us also understand that due to the current market, even when one has money, one will think twice or thrice before committing to such a huge commitment. This brings us back to the fundamental of property investment, it takes a long time. If we are looking for an investment which could give us fast returns, property is definitely not one of them. The return on investment could still be high when we calculate it 5-6 years down the road because of the power of leverage but if we intend to earn fast money, please stay out of the property market. Happy understanding and be happy if we know of another unit being sold to a new owner.

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written on 11 Aug 2018

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Sign up and bid: Sixth Auction of Malaysian Banknotes

This is already the 6th Auction for Malaysian Banknotes in Malaysia. It will be conducted by MNP Auctioneers (Central) Sdn Bhd. For the collectible lovers, banknotes, especially those with special or auspicious numbers are worth collecting. There’s just ONE in the world anyway. Bank Negara governors also do not stay forever and thus even the signature would continue to change and this makes it even more exclusive. In one of the recent auction, the final bidding price was really amazing. Here:
4th banknote auction: RM100 banknote won by RM50,000 bidder
.
By the way, the bidding starts from RM30, an affordable number which all can bid. Okay, for RM30 to turn into RM1 million may seem far fetched but that’s what those who did not buy think all the time. Banknote auctions are quite common in many developed nations. In fact when we google ‘Banknote auction’ the results would show all the famous websites for banknote auctions around the world. Take a look at the image from google search. Banknotes are real and we can hold it. Perhaps it’s not a good idea to frame and put in your living room if you happened to bid a lot of money for one. Let’s just keep it well, shall we.

The banknote auction will be happening in 21 days time. Winning a bid is going to be exhilarating and if you have never been to one, this is a very good opportunity to understand how it happens. The potential bidders would come not just from within other states in Malaysia but also outside Malaysia. The bidders are able to bid on two platforms simultaneously, on-site and online. According to the Online Marketing Manager for MNP, Mr. Vincent Seah, ‘Banknotes are one of those investables where storing it is by far safer and easier than many other bigger collectible items. Besides that, this is a legal tender which meant that in the worst case scenario, it is fully usable! Come and join us and bid for your favourite banknote.

More Details as follows:

Title: Sixth Auction of Malaysian Banknotes (with special serial numbers – 4th series)

Date : 4/22/2017 – Location : AUDITORIUM – Sasana Kijang Money Museum @ Bank Negara Malaysia,Jalan Dato’ Onn, Kuala Lumpur, Malaysia, 50480

Register here.

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Auction properties. Opportunities abound but lots of competition from primary and secondary market too.

My views were featured on the main page of The Malaysian Reserve last week. “Auctioning homes getting tougher in a tepid market.”  Briefly, it tells of how people could find good opportunities in the auction market because the demand for auction properties have also weakened. However, at the same time, the competition for buyers from the primary market (from developers) and the secondary market (owners) have heightened because everyone is doing their best to entice buyers. Developers with their discounts and owners who are willing to consider lowering their price expectations. Image below.

Please read the full
Article in themalaysianreserve.com
   Property auctions are generally sought after my buyers looking for bargains. However, the availability of many unsold units and a muted property market meant that the auction market are not that attractive; buyers have choices.

TEN Auctioneers Sdn Bhd CEO Charles Tan said the market is taking a longer time to sell off the auctioned properties despite the supply of homes not surging in recent years. “At the first auction, the house will be sold at the initial price, but at the second auction, the price will be reduced by another 10%. The price will be cheaper at the third auction.”

He added, “Previously, a home can be sold during the fourth round of auctioning. Today, it may go to the fifth or sixth auction.  Buyers can find almost the same price in the subsale and primary markets.

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said lenders have been prudent in their lending standards due to the robust regulatory requirements demanded by BNM. He said, “By historical standards, the impairment ratio is not too alarming. It is just that the trend of impairment ratio has been gradually on the rise.”

Do read the full article
Article in themalaysianreserve.com

Besides writing on a daily basis and speaking on a weekly basis on property investment related stuffs, I am a Licensed Auctioneer (state of Selangor). So, I am one of those people who gets paid for knocking on the table with a hammer. Please do not ask me for the best deals yeah. State clearly what you are really looking for and then I could keep you informed when there are such deals in the near future. Happy buying, regardless from which market.

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Someone showed me an auction property which is supposed to be a branded property and in a supposedly good location. How low could the auction price falls to? In fact the auction price has fallen to a level not seen before, especially if compared to the original price. It’s a small unit, less than 500 sq ft. The latest price is now below RM400,000. The question is, how long could the prices go before the property is auctioned off?

Auction market is just another property market.

It is not about how low the prices are. It is how low in comparison to similar properties or replacement for that auction property. If we need a place to stay and we could find a secondary unit of 500 sq ft at RM400,000 and there’s that newly launched new property of 428 sq ft at RM400,000 and there’s an auction unit of 550 sq ft at RM400,000 then the choice would most probably be the secondary unit so that we could move in quickly.

Photo by Ekaterina Bolovtsova on
Pexels.com

Some may also choose the new property because the facilities are new, the feeling is good since even the paint is still new and more. However, that auction unit which is bigger in size and same price will not be attractive enough unless the price is 20-30% lower. This is because no one knows the inside condition of the unit and would want to have buffers in case any renovation is needed. This is why it is not about the auction price but it’s about a comparison of all the available choices too.

If the market wants it, then the price could still go up again

Before COVID-19, I was the auctioneer for a double-storey terrace unit located in Puchong. It was the 4th auction. 4 bidders came and the final winning bid equalled the price during the 2nd auction. This is market demand. The winning bidder says that he will be using it as a hostel for his workers and he could then save from renting some other place and at the same time, just wait for the price to slowly appreciate again. He was in no rush. I personally think his strategy is a good one.

What if the price was overpriced from the beginning?

The current price on offer or even on auction is now 20% below market value. It may even be 30% below market value. Please remember, market value may have been based on transacted prices a few years ago. Transacted prices then may have been due to much better market sentiments then. It does not mean the current transactions will follow the previous price. By the way, banks may also be valuing the property differently from the developers’ price yeah. This is why they may not loan you up to 90% but it may be lower. They want to manage their risks too.

This is why when we buy any newly launched property, it’s important to compare it to the secondary property prices and not other newly launched properties. The newly launched property may be priced a little higher versus the secondary property market because this is future price but usually a checking of the typical rental rate would already be the second important fact pointing out that perhaps the newly launched property is overpriced. Never mind that the developer is a very good brand whom you love, those are secondary yeah.

Property Investment is straightforward but never think of it as easy money. Go for others.

The 80s was the time my parents bought their first home. It was super tough. Loans were hard to get and they struggled. 90s was the time when my parents bought their Ipoh home. Again, it was a struggle because the price was considered high. Today, they knew if they bought another unit then, the profit would have been in hundreds of percent. In the 2000s, I bought my first few properties. Again, if I look back, IF ONLY I was braver and bought a few more…

This tells us one thing. Property investment is a straightforward thing. There’s no uncertainty because housing is a need. However, it is not easy because we need to ensure we do due diligence. We need to ensure we are not over-stretched to the limit because circumstances such as COVID-19 is unforeseen. We needed to pray that the developer completes the project on time and many more. However, this is not a low risk and low profit investment yeah. I can safely tell you that if we use
Return On Investment (ROI) calculation (read here if you like)
, property investment is a super investment.  Happy investing.

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Auction Properties: What is the effect by COVID19 Pandemic?

Dear all, I am honoured to be invited by my good friend the
mortgage guru Mr. Miichael Yeoh in his MY LIVE Show.
Joining me is another long time friend
Mr. Jeevan Muniandy who is a very established licensed auctioneer in the northern region
. I have personally listened to his passionate stories on auction and I think everyone will benefit tremendously from his knowledge and experience.  Details as per below image yeah.

It’s on 9th April 2020 (Thursday) at 8:30pm. We will start on time, then after the show we shall go for teh tarik. I mean you drink your teh tarik at your home and I drink mine at my home lah. Haha.  Venue for the FB LIVE is here:
www.facebook.com/miichael.yeoh/

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