Press Release:  PropertyGuru widens the gap as Malaysia’s undisputed No.1 property website and continues proptech innovation with latest launch

PRESS RELEASE

PropertyGuru widens the gap as Malaysia’s undisputed No.1 property website and continues proptech innovation with latest launch

Continues market leadership for six months with highest market share and website traffic, as verified by SimilarWeb, Comscore and Google Analytics
Grew market lead and is nearly 2 times bigger than the next player in market share; grew website traffic by over 50%  reflecting strong preference of Malaysian property seekers
Continues innovation in proptech solutions with the launch of the ‘Listing Performance Insights’ for agents, providing valuable market data and actionable insights at a click

Kuala Lumpur, 20 April

– PropertyGuru widened its lead as Malaysia’s No. 1 property website, increasing its market share* to 63% based on 6-month average from October ’20 to March ’21, as per the latest
SimilarWeb
 data. PropertyGuru continues to surge ahead with 60% traffic share** as per
Comscore
. Furthermore, PropertyGuru continues to be the ‘Most Preferred’ property website, clocking a monthly average of over 12 million visits from January ’21 to March ’21

With this high-growth, PropertyGuru is nearly 2 times (1.89x) bigger than the next player in the market and grew website traffic by over 50% (quarter-over-quarter) – a clear indication that it has increasingly been the chosen platform for home buyers in Malaysia.

With over 500,000 listings on the platform, PropertyGuru provides the most home choices in Malaysia. This contributes to the popularity of PropertyGuru among home seekers alongside the virtual viewing solutions it has offered since the pandemic last year. Malaysian home seekers have embraced virtual tours more than ever before, as PropertyGuru saw a 62% increase in 3D virtual viewing compared to the year before. These virtual tours include new projects and launches by developers, which are featured on
PropertyGuru.com.my
.

Sheldon Fernandez, Country Manager, PropertyGuru Malaysia
 said, “Purchasing a home can be a daunting journey for many people, and at PropertyGuru, we have always set out to alleviate a very big consumer pain-point – to help make finding a home a straightforward and transparent process. Beyond just a ranking or a title, our position as the No. 1 Property Website in Malaysia signifies the trust that Malaysians have in us by making us their preferred website for finding their home. We are thrilled by this recognition, but we won’t be resting on our laurels. We are committed to continue helping Malaysians make confident property decisions by serving them with the right properties, insights, and solutions.”

Latest innovation in proptech solution delivers actionable, data-driven insights on listing performance

PropertyGuru’s continued market leadership in Malaysia is a result of its commitment to consistently deliver innovative solutions and actionable insights to better serve Malaysian home seekers and customers. The latest in its innovative streak is the ‘
Listing Performance Insights
’ solution, aimed at providing property agents with valuable, actionable insights derived from data on user behaviour, property prices, property performance comparisons, marketing analytics, and more on PropertyGuru.

Sheldon said
, “PropertyGuru is invested in the continuous innovation of the property ecosystem. We believe that data will be pivotal in the changing landscape of the property industry. Providing relevant information and actionable insights to property agents will enable them to adjust their listings and properties to better meet the needs of both home sellers and home seekers. The Listing Performance Insights solution ensures everyone can benefit from intelligent use of data. We will continue to seek innovative ways to leverage data to enhance agent and home seekers’ experiences, redefining the way people find their dream home.”

In the past, agents had little visibility over consumer behaviour when interacting with their listings. This made it challenging to know what makes for an effective listing, and where corrections or enhancements could be made to improve the sale process for both agents and home seekers. Studies found that agents lacked contextual data and needed to go to great lengths to gather research on their competition, historical sales prices of property in their region, and the ROI their properties can offer. This made accurately pricing properties as well as being able to quickly adapt to buying trends a difficult task.

Understanding these challenges, PropertyGuru aims to make a difference with its Listing Performance Insights solution by providing agents with actionable insights on their listing performance and historical market data easily. With this solution, which is unique to PropertyGuru, agents can better manage their listings to gain improved results and get more business leads, ultimately resulting in finding the right buyer for the listed property. Consequently, this also provides consumers the opportunity to find properties more relevant to them.

*Market Share Source: SimilarWeb data – Engagement market share, average of October 2020 – March 2021.

**Traffic Share Source: Comscore data – Visit share data, September 2020 – February 2021

– End –

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Stay in Sierramas Heights for just RM160,000* (Stay & Own Scheme)

Press Release – STAY & OWN IN SIERRAMAS HEIGHTS FROM AS LOW AS RM 160,000

Final 20 Units of Spacious, Freehold, Low-Density Condo Living situated within the award-winning green refuge of Sierramas: Malaysia’s First Gated, Guarded & Landscaped Township.

17 January 2019, Kuala Lumpur – Located in the lush greeneries of Sierramas, a final twenty units of apartments in Sierramas Heights are being released by developers Terang Murni Sdn Bhd in a special, value-for-money ‘Stay and Own’ scheme targeting buyers looking for a lifestyle upgrade into the safe and secure enclave of Sierramas.

Even in today’s current challenging market climate, home ownership remains a key lifestyle aspiration. Recognising the fact, Terang Murni has opted to offer buyers a chance to own one of the final twenty units in this low density, freehold development with just a 20% deposit off the Sales and Purchase Agreement (SPA) price.

An advantage that sets this Stay and Own scheme apart from other affordable housing
schemes in the market is that buyers will be able to stay virtually ‘rent free’ in their units from a deposit as low as RM 160,000 for up to 5 years and choose to either complete the SPA or opt to find a new purchaser for the unit at the current market value within 3 months of the 5th year Anniversary.

Available units at Sierramas Heights under this scheme start from 1,259 sq ft and are priced from RM 800,000 up. Another advantage to the area is the lush greeneries and easy access to key amenities like a grocer and not one but two international schools all within a 5km radius.
Full factsheet can be downloaded here.

— end of press release —

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Press Release: Sime Darby Property – XME Business Park marks MVV milestone

Press Release: Sime Darby Property Berhad has kickstarted the first project under the Malaysia Vision Valley 2.0 development with the groundbreaking of XME Business Park in Nilai Impian, Negeri Sembilan.

Set amidst a gated and guarded environment with ample green lungs and versatile designs, XME Business Park sprawls over 69.72 acres of prime, freehold land in the mature and established township of Nilai Impian.

The business park will be the first Managed Industrial Park in Negeri Sembilan, with a Gross Development Value of RM520mil. It is gated and guarded with 24-hour security, providing a secure environment to the user and a well-maintained common area.

The ceremony was officiated by Negeri Sembilan Menteri Besar Dato’ Seri Aminuddin Harun. State Speaker Dato’ Zulkefly Mohamad Bin Omar, State Secretary Dato’ Dr Razali Bin Ab Malik, and State Investment, Industry, Entrepreneurship, Education and Human Capital committee chairman Dato’ Dr Mohamad Rafie bin Ab Malek were also at the event.

Sime Darby Property Acting Group Chief Executive Officer Dato’ Wan Hashimi Albakri said the XME Business Park is strategically located at the gateway of Negeri Sembilan and Malaysia Vision Valley 2.0.

“The MVV development begins in earnest with the XME Business Park. We are confident of the park doing well due to its great location and the impending enhancements to the infrastructure with major projects such as the East Coast Railway Line,” said Wan Hashimi.

The XME Business Park is a pioneer managed industrial development in MVV 2.0 and it will set the standard for industrial parks in Negeri Sembilan. Comprising of 149 units, the park will be developed over two phases.

Phase 1, launched in December 2019, consists of 75 units of semi-detached and detached types with built up ranging from 5,600 sq ft up to 29,000 sq ft to cater to the different needs of users with pricing from RM2.5mil to RM18.5mil. Phase 1 has a Gross Development Value of RM307mil and is targeted to complete by 3Q 2022.

So far, half of the first phase has been taken up within a month of its soft launch with interest pouring in from different business industries from logistics and warehousing, food & beverage (central kitchens), engineering, food processing and packaging and metal fabrication.

The business park is also connected to major highways like the North-South Expressway, Elite Highway and LEKAS Highway, with easy access to KL up north, KLIA and Putrajaya to the east, Seremban, Johor, and Singapore down south. It is also located in a prominent location with high visibility from the North South Expressway, which is one of the busiest highways in the country.

— End of Press Release —

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Press Release: Sime Darby Property’s RMMJ affordable homes ready

Press Release: Sime Darby Property hands over RMMJ affordable homes to purchasers

— start —

PASIR GUDANG, 23 October 2017
– Sime Darby Property Berhad has handed over affordable homes and shops under the Rumah Mampu Milik Johor (RMMJ) scheme to purchasers at Taman Pasir Putih today.

The development, the first RMMJ project for Sime Darby Property, was launched in October 2014 and it was completed in September 2017. It involves the development and delivery of 184 units of double storey homes (18’ x 60’) and 108 units of single storey shop lots (20’ x 60’).

Johor State Housing and Local Government Committee chairman Datuk Md Jais Sarday officiated the handover ceremony. Pasir Gudang Municipal Council President (MPPG) Hasrin Kamal Hashim and Sime Darby Property Chief Operating Officer Dato’ Wan Hashimi Albakri Wan Ahmad Amin Jaffri also attended the event.

“The RMMJ scheme was launched by the Johor state government to provide home ownership opportunities to the people of Johor and other Malaysians, with the objective to deliver a total of 60,000 units by year 2020. The state government aims to complete the building of 5,490 affordable housing units to enable immediate offering to buyers by the end of this year. We are also planning to launch a rent-to-own housing scheme soon, to allow the low income group to acquire homes without difficulty,” Md Jais said.

The RMMJ scheme was launched by the Johor state government in 2012 to enable not only the people of Johor but all Malaysians to have access to affordable housing. The objective of the scheme is to allow low and middle income families to own homes that are good in quality, safe and comfortable.

Sime Darby Property Managing Director Dato’ Sri Amrin Awaluddin said Sime Darby Property is proud to support the state government’s effort to provide homes to all income groups.

“As a leading property developer in the country, we support this noble objective. Sime Darby Property has been serving the market for 45 years and we believe that consumers deserve quality products. It should not matter if they buy a higher end unit or an affordable unit. This is what we strive for,” Amrin said.

The RMMJ homes developed by Sime Darby Property in Taman Pasir Putih adheres to the Johor state housing policy guidelines. Despite its affordable price range, Sime Darby Property took a step further by incorporating the latest design philosophy of maximizing space and the use of the best building materials, signifying its commitment and support towards the overall success of the RMMJ program.

Taman Pasir Putih is a 675-acre township, developed on land acquired by the Sime Darby Group in 1984. The advent of the South Johor Economic Region stimulated demand for properties and by 2012, with the support of the Johor Government, Sime Darby Property began to utilise its land for light industry, commercial developments and affordable housing under the RMMJ.

Sime Darby Property, then known as Sime UEP Properties Berhad, also developed 540 low cost residential units, priced from RM25,000 to RM40,000, at Taman Pasir Putih between 1997 to 2001.

Taman Pasir Putih is conveniently connected to Johor Bahru and parts of the Iskandar Malaysia region by the Pasir Gudang and Coastal Highway and other main roads.

— end —

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Press Release: Sime Darby Property’s ‘Siap, Sedia, Raya’ Campaign Achieves  RM572 Million in Sales Bookings

Press Release: Sime Darby Property’s ‘
Siap, Sedia, Raya
’ Campaign Achieves  RM572 Million in Sales Bookings

– 662 units of residential property bookings in 14 townships during the campaign period; – Contributions were mainly from the newly launched products of Elmina Green Four, followed  by Lyra 2 and Hevea Phase 2;

– Planters’ Haven in Negeri Sembilan and Harmoni Permai in Bandar Universiti Pagoh, Johor  also proved popular among the Southern Corridor homebuyers.

ARA DAMANSARA, 11 JUNE 2021
– Sime Darby Property Berhad (“Sime Darby Property” or  “Company”) has secured outstanding total sales bookings for 662 units of residential property  across 14 townships which accumulated to RM572 million. This was achieved throughout the  Company’s recently concluded ‘
Siap, Sedia, Raya’
campaign which ran from 15 April to 31 May  2021.

Sime Darby Property’s Group Managing Director, Dato’ Azmir Merican said that the Company’s  tactical launch plans, as well as the Government’s ongoing Home Ownership Campaign (“HOC”) 2021 incentives proved to be a great combination for the ‘
Siap, Sedia, Raya
’ campaign. The  additions of low OPR and other supporting factors such as stamp duty exemption and the removal  of 70% margin financing cap for third housing property have also been favourable to the  campaign.

“This success follows a long list of healthy take-up rates of over 90% for our products we achieved  since the start of the year. Our strategic sales and marketing plan to offer the right products at the  right location and more importantly, at the right price point has been proven to be effective. With  the extension of the HOC that was recently announced by the Government, we look forward to  similar response to our future launches that have been planned for the rest of the year,” he said.

Dato’ Azmir added, “Based on our customers’ buying trend, we foresee a growing demand for  residential landed type of products and Sime Darby Property will strive to meet our clients’ needs  with new and existing products.”

Sime Darby Property’s new launches of freehold residential properties were absolute hits with  homebuyers. In the City of Elmina, Shah Alam, 187 units of Elmina Green Four worth RM144  million and 32 units of Hevea Phase 2 worth RM67 million, were taken up. All units of Elmina  Green Four homes come with generous built-up catering for young and multi-generational  families, as well as those looking for a home upgrade; while the double-storey semi-detached  Hevea Phase 2 homes are designed to promote single-storey living with two master bedrooms  on the ground floor.

Lyra 2 in Bandar Bukit Raja, Klang, was also popular among the potential homebuyers with 93  units taken up at a total sales booking of RM68 million. Well-designed and spacious, the double storey linked Lyra 2 homes are also strategically located with proximity to the Bandar Bukit Raja  Central Town Park, schools and commercial amenities in Klang.

The KLGCC Resort offered its prestigious address via Senada Residences and East Residence  Courtyard Villa, clocking in sales bookings of RM19 million and RM14 million, respectively; while  46 units of The Ridge at KL East worth RM32 million were also snapped up.

The Southern Corridor also proved to be popular among the homebuyers with 18 units worth  RM25 million in Planters’ Haven in Negeri Sembilan taken up; as well as 19 units of Harmoni  Permai homes in Bandar Universiti Pagoh in Johor also booked during the campaign period.

The ‘
Siap, Sedia, Raya
’ campaign offered homebuyers up to RM10,000* Hari Raya deals on top  of the current sales packages for selected properties in the City of Elmina, Bandar Bukit Raja, Ara  Damansara, Subang Jaya City Centre, Putra Heights, KL East Mall, Melawati, KLGCC Resort, Serenia City, Nilai Impian, Planters’ Haven, Chemara Hills, Bandar Ainsdale and Bandar  Universiti Pagoh. The deals include up to 36 months of ‘Your Instalments on Us’ for selected  participating properties on top of the Government’s HOC.

Potential homebuyers enjoyed a hassle-free homebuying experience for the property of their  choice via specially curated online sales kits and virtual tours through Sime Darby Property’s online platforms. While all its sales galleries are closed throughout the period of the current full  lockdown, the Company’s sales team are accessible during business hours, working from home to address sales and marketing activities online.

Stay updated on Sime Darby Property’s activities and developments at its website,
http://www.simedarbyproperty.com
, Facebook (www.facebook.com/SimeDarbyProperty), Instagram  (www.instagram.com/SimeDarbyProperty) and the Sime Darby Property Mobile App (available  for download via the Apple Store and Google Play).

*Terms and conditions applied.

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Press Release: Sime Darby’s Lot 15 in Subang Jaya achieved 64% take up rate

Remember the launch by
Sime Darby Property for its Lot 15 in Subang Jaya?

Within 2 days, it has hit 64 percent. Read on.

Press Release by Sime Darby Property

Lot 15 in SJCC receives promising take up rate within 2 days of public launch!

Sime Darby Property’s latest serviced apartment in Subang Jaya achieved 64% take up rate over the weekend

ARA DAMANSARA, 21 November 2017
– Lot 15, Sime Darby Property’s latest development in Subang Jaya, achieved a strong 64% take-up rate within two days of its official public launch on 18 – 19 November 2017.

A total of 130 out of 204 units offered for sale were quickly taken up by purchasers over the weekend, an indication of good demand for the newest residential property nestled in the self-contained, bustling and affluent urban centre of Subang Jaya City Centre (SJCC).

Lot 15 serviced apartment units are still available for the public to purchase. Prices range from RM 593,888 to RM 1,009,888 before Bumiputera discount and sales rebate, with built up areas from 624 sq ft to 1,001 sq ft and unit types ranging from 1+1 to 2+1 bedrooms.

The sales package also includes legal fees on SPA & disbursement, loan legal fees & disbursement and maintenance fees for 12 months. A special additional discount of up to 3% is available for Sime Darby Property PRIME members.

Sime Darby Property Managing Director Dato’ Sri Amrin Awaluddin
 said, “This is a great start for the development and we are humbled by the good response. It shows that there is significant demand for properties in good locations such as the SJCC that offers existing and planned modern facilities, transportation links and good accessibility. Lot 15 is a development that reflects the true spirit and culture of Subang Jaya and writes a new chapter in the township’s long successful history.”

Lot 15 is a serviced apartment that comprises two 20-storey residential towers with a total of 361 residential units and three levels of retail units. The development covers an area of 2.227 acres, with a total GDV of RM269.2 million. The development offers freehold ownership, and aims to fulfil the needs of first time home buyers and young professionals, as well as investors.

Lot 15 is designed with rooms facing outwards, with views maximised by large wall-to-wall windows. The incorporation of deep reinforced concrete (RC) ledges along the windows provide shade from the sun.  Side by side living and dining areas allow for flexible space utilisation, with ample natural light and ventilation. Selected units fitted with bay windows enjoy accentuated views and a feeling of spaciousness. All units are designed with a 1:1 bedroom to bathroom ratio.

Facilities include a floating pavilion, adult swimming pool, jacuzzi, children’s pool, multipurpose hall and deck, gymnasium, sauna room, BBQ area, playground, prayer room, changing rooms and common washrooms. Each tower offers 3 sky gardens and a rooftop edible herb garden with a spectacular view on level 30, perfect for gatherings with family and friends.

Lot 15 is a Transit Adjacent Development (TAD), an interconnected development with facilities and amenities within close reach. It is within walking distance from the Subang Jaya LRT station and is easily accessible from/to major highways namely the Federal Highway, New Pantai Expressway (NPE), Damansara-Puchong Highway (LDP), New Klang Valley Expressway (NKVE) and Shah Alam Expressway (KESAS).

— end of press release —

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Press Release: Spaces of Happiness in Seremban 2

Over the past 25 years, Seremban 2 has experienced a rapid transformation
to become the most progressive township the state of Negeri Sembilan has ever
seen. From barren parcels of agricultural land to a fully integrated and
sustainable township, its economic evolution is undeniable. Geographically, a
lot have changed to what is now called Seremban 2, but what remains is the
freehold land of 1537 hectares in which residents will be able to fully utilize
in their longing to live an abundant and fulfilling life.

To provide a clearer picture, the entirety of Seremban 2 roughly equals
the size of 2827 football fields. With a vast land area filled with vibrancy of
life, bustling enterprise and a thriving community, Seremban 2 is the ideal
township to call home by a population of more than 62,000 people.

Within its vast space, Seremban 2 has found the perfect balance between
development and nature which is one prime pulling factor for current modern
homebuyers. Offering beautifully designed homes ranging from affordable housing
apartments and terrace houses to luxury gated bungalows and semi-detached
houses, the township introduces value-for-money properties that come with
built-in modern facilities, yet maintaining the tranquility of a country
atmosphere with a multitude of green spaces.

One of the reasons why Seremban 2 has become such a thriving township, in addition to its space, is its strategic implementation of city planning that leverages on space and incorporation of its vast green areas spread across the township. It is after all inspired by the Green Street in Canberra, Australia, which is a warm, family-oriented thoroughfare encircled by nature. In contrast, Seremban 2 is a self-contained ecosystem offering a wholesome living experience with complete community friendly amenities and facilities within a safe and serene environment.

“As quality
of life becomes a priority for the modern generation, families are now
searching for conducive and tranquil environments to live and raise their
families. Seremban 2 is a comfortable home to tens of thousands of families
because our well-planned concept and execution of development master plan has
introduced the area to modern architecture, excellent road system, sustainable
and environment-friendly housing, essential services, numerous education
options, quality amenities and facilities,” said Dato’ Hoo Kim See, Senior
General Manager (Central Region) of IJM LAND.

It is known
that spending time outdoors can be beneficial to our happiness, with scientists
proving the correlation between nature and positive effects of stress relief,
increase in social interaction and encourage healthy lifestyle, among others.
Apart from the size, it is also widely known that the quality of the green
space is equally important in bringing happiness.

Such quality
and family-friendly amenities and facilities that stimulate the lifestyles of
the Seremban 2 communities can be discovered in the 45 acres of dedicated park
space within the township. As the community favourite, the 15-acre S2 City Park
accommodates a variety of activities for residents of all ages, including tai
chi, kite-flying and basketball, with activities stretching from morning till
the evening on any day of the week. There is also a 4-acre lake as the park’s
centrepiece that serves to cool down its surroundings while offering a scenic
background for picnics and laid-back activities.

Moreover,
residents can also access the 30-acre Hill Park, also known as the Dinosaur
Park featuring dinosaur sculptures. Besides being an interesting and
educational hang-out spot for families, it is situated at the highest point in
Seremban 2 which is 400-feet above sea level and offers panoramic views of the
township and its surrounding greenery.

Seremban 2
also features a 30-acre sports complex which provides residents and visitors an
abundance of sports-related activities and opportunities for everyone to get or
be fit and healthy. This complex features an Olympic-sized swimming pool and
offers facilities such as a hockey stadium and a green bowling lawn as well as
courts for the popular racquet sports of squash and badminton.

Within the township, the main arterial road system is designed in the loop to keep the bulk of traffic away from residential precints. The vast land space available in Seremban 2 has made it possible for IJM to construct the main road that consists of a 6-lane dual carriageway designed to relief future congestions by branching out into a network of well-maintained roads accessible to various parts of the estate, interlinking to all sectors of the township and making getting around the property trouble-free. Considering the township as the southern gateway to the neighboring Klang Valley known for its traffic congestions, Seremban 2 offers a breath of fresh air from the daily hustle and bustle of the city for a relaxed lifestyle.

For more information, please visit
http://seremban2.ijmland.com/.

— End of Press Release —

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Press Release: SUNWAY AND HOI HUP’S SOPHIA HILLS WINS GOLD FOR RESIDENTIAL (MID RISE) CATEGORY AT FIABCI WORLD PRIX D’EXCELLENCE AWARDS 2020

SOPHIA HILLS, a modern contemporary masterpiece jointly developed by Hoi Hup Realty Pte Ltd and Sunway Development Pte Ltd, was awarded the World Gold Winner in the Residential (Mid Rise) category at the FIABCI World Prix d’Excellence Awards 2020.

The largest development in Singapore’s District 9, Sophia Hills is a low rise 493 units condominium, sitting atop the undulating ground of Mount Sophia – a hill rich with history and an unparalleled legacy. The developers have kept the heritage alive with the restoration and integration of three conserved buildings. Trinity Theological College Chapel which was built in 1969 has been converted as a Restaurant, whilst Olson Building by Frank Wilmin Brewer in 1928, now serves as The Sophia Clubhouse while Nan Wah Girl’s School built in 1941, has been designated as a childcare centre or kindergarten.

A delightful piece of architecture with thoughtful use of traditional palate, Sophia Hills blends seamlessly with the spirit of its place. It is truly “A Hundred Years in the Making”.

Deputy Managing Director, Property Development Division (International) Sunway Berhad, Tan Wee Bee
, said “Sunway is committed to driving the ambitions of the United Nation’s Sustainable Development Goals. The preservation of Singapore’s cultural and architectural heritage for the community is an important element to building sustainable cities and communities.”

General Manager, Hoi Hup Realty, Mr Koon Wai Leong
, said “We are glad that our works in Sophia Hills has preserved the historic character of Mount Sophia as well as giving new lease of life to the architecturally important buildings and neighbourhood.”

The FIABCI Prix d’Excellence Award is one of the highest honours given to outstanding projects. Awarded by an international panel comprising top real estate professionals and experts, it recognises projects that best embodies excellence in all the real estate disciplines involved in its creation and overall merit.

This award represents another milestone for Hoi Hup and Sunway and underscores their commitment to set new standards of quality, value and an innovative form of excellence with a focus on sustainable development. These standards will also be exemplified in the upcoming Ki Residences at Brookvale and Parc Central Residences in Tampines Avenue 10. Ki Residences will be enveloped within a forest complete with gurgling brooks with the developers investing in a new road to improve the neighbourhood’s connectivity of Sunset Estate. The upcoming executive condominium Parc Central Residences in Tampines Avenue 10 is designed as a reminiscent of New York Central Park with a larger than football-field sized landscape area.

— End of Press Release —

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Press Release – Sunway Berhad clinched most wins at The Edge Malaysia’s Top Property Awards 2017

Press Release by Sunway Berhad

— start —

SUNWAY BERHAD CLINC
HED MOST WINS AT THE EDGE MALAYSIA’S

TOP PROPERTY DEVELOPERS’ AWARDS

Sunway City, 30 October 2017 – Malaysia’s leading conglomerate, Sunway Group, clinched the most wins –  five recognitions in total, at The Edge Malaysia’s Top Property Developers Awards 2017.

The awards ceremony was attended by former Housing and Local Government Minister,Tan Sri Dato’ Seri Ong Ka Ting and other luminaries and leaders of Malaysia’s real estate industry.

Sunway Berhad was listed amongst the top property developers and emerged top in best in qualitative

attributes while Sunway Berhad’s Managing Director for its Property Division (Malaysia and Singapore),

Sarena Cheah received The Edge Malaysia Outstanding Property CEO Award 2017 in recognition for

her outstanding contribution to the industry.

Sarena Cheah has been with Sunway Group since 1995, and was designated to lead Sunway’s property division in 2015, taking on full responsibility as Managing Director of Property Development Division, Malaysia and Singapore.

Under her stewardship, Sunway Property has been recognised by The Edge for three consecutive years as the top property developer in Malaysia; four consecutive years for delivering the best qualitative scores; in addition to winning numerous international and national awards for best practices, and sustainable development amongst others.

Sunway University clinched The Edge Malaysia Pioneer Development Award 2017. Sunway was one of the first developers in the country to build an educational institution within its 800-acre integrated township of Sunway City. The University is now owned and governed by the Jeffrey Cheah Foundation, which is now worth more than RM 1 billion in assets and is Malaysia’s largest education-focused social enterprise. Sunway University was also the first private institution to introduce the twinning programme in the country.

Sunway University, celebrating its 30th anniversary this year, has been rated Tier 5 “excellent” three times by the government’s quality assessment system “SETARA,” and was awarded the internationally acclaimed QS 5 Star ratings for Teaching, Facilities and Employability. Its global community come from over 90 countries, and the University has built prestigious links with University of Cambridge; Harvard University; University of Oxford; Lancaster University; and Le Cordon Bleu.

Sunway Pyramid clinched The Edge Malaysia Property Development Excellence Award 2017. The award recognises large-scale developments that have made a significant impact and achieved great success.

Sunway Pyramid has become a popular and successful suburban family mall for shopping, eating and

entertainment since it has first opened its doors in 1997.

Sunway Pyramid, which had celebrated its 20th anniversary this year, stands as Malaysia’s first themed

shopping and entertainment mall and has evolved over time to be a 4.3 million square feet retail haven.

Architecturally spell-binding, the Egyptian-inspired Pyramid with an eye-catching lion comprise four

distinct shopping precincts – Fashion Central, Oasis Boulevard, Asian Avenue and Marrakesh offer a

rejuvenating sanctuary for shoppers of all ages.

“We are humbled to be acknowledged with the wins which we see as testaments to the capability of our

diverse teams. An acknowledgement from important industry players helps us strengthen the relationship

we have with our customers by building trust, besides helping establish a benchmark from where we can

continuously improve,” said Sarena Cheah.

Into its fifteenth year, The Edge Malaysia Top Property Developers Awards (TPDA) recognises the
country’s best in property development where companies listed in the property sector of the Main Market
of Bursa Malaysia were automatically included while non-listed property development companies
submitted their entries for consideration.

Being evaluated based on both quantitative and qualitative attributes, the data for the quantitative attributes for listed companies were extracted from their annual reports, while those for non-listed property developers were based on their signed audited accounts or data certified by their external auditors.The qualitative attributes were evaluated by a 10-member panel comprising of distinguished judges including Datuk Seri Fateh Iskandar, REHDA Malaysia president, Dato’ Soam Heng Choon, REHDA Malaysia deputy president, Tan Sri Datuk Eddy Chen Lok Loi, REHDA Malaysia past president, Datuk Seri Michael Yam

Kong Choy, REHDA Malaysia past president, Dato’ Jeffrey Ng Tiong Lip, REHDA Malaysia past president,

Tan Sri Dato’ Teo Chiang Kok, FIABCI Malaysia past president, Kumar Tharmalingam, FIABCI Malaysia

past president, Ho Chin Soon, Ho Chin Soon Research founder & chairman, Ho Kay Tat, The Edge Media

Group publisher & group CEO, Rosalynn Poh, City&Country editor and Au Foong Yee, EdgeProp.my

managing director & editor-in-chief. The results of the ranking exercise were audited by Deloitte Malaysia.

— end —

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My first visit to Sunway Velocity Mall

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Press Release by Sunway Berhad: SUNWAY POSTS STEADY RESULTS

This is a Press Release by Sunway Berhad on its financial year ending 31st December 2016.

SUNWAY POSTS STEADY RESULTS

Higher year-on-year revenue contributed by better performance in most segments

Property development profit before tax for the year increased 24.8% to RM327.8 million

Property investment revenue increased 8.3% due to higher rental contributions, better occupancies and increase in number of visitors to Sunway Lagoon

Strong construction outstanding order book of RM4.8 billion and property unbilled sales of RM1.5 billion

Bandar Sunway, 27 February 2017
 – Sunway Berhad, one of Malaysia’s largest conglomerates with core interests in real estate and construction, today reported an increase in revenue to RM4,725.9 million for the current 12 months period ended 31 December 2016 compared to RM4,448.4 million over the corresponding period last year. The increase in revenue was contributed by better performance in the property development, property investment, trading and manufacturing, healthcare, building materials and treasury operations.

Sunway declared a second interim cash dividend of 4 sen per share along with a share dividend distribution of 1 treasury share for every 100 existing ordinary shares held translating to an equivalent of 3.14 sen per share. Total full year dividend, including the first interim dividend paid of 5 sen per share, is 12.14 sen per share- up from 11 sen the previous year.

“While the economic environment remains challenging, our robust balance sheet will enable us to capitalize on any opportunities that may arise in such an operating environment, especially given that Sunway is a well-diversified group,” said Mr. Chong Chang Choong, CFO of Sunway Berhad.

The Group posted a slightly lower profit before tax of RM859.0 million in the current period compared to RM930.4 million in the corresponding period last year. However, this was due to lower fair value gains from the revaluation of investment properties and a share of lower fair value gains recorded by Sunway REIT. The combined fair value gains were approximately RM105.3 million lower in the current period compared to the corresponding 12 months period last year. The difference in profit before tax was also attributable to RM22.9 million capital gains from the disposal of two investment properties to Sunway REIT in the first quarter of 2015.

The property development segment reported revenue of RM1,209.4 million and profit before tax of RM327.8 million for the current 12 months period ended 31 December 2016 compared to revenue of RM1,195.7 million and profit before tax of RM262.6 million for the corresponding period last year. The increase was mainly due to higher profit recognition from local projects, sale of land to Sunway REIT and the completion of several local development projects during the current period.

The Group targets to roll out RM2.0 billion worth of properties in 2017. The launches for the year are well-spread across multiple strategic locations with good connectivity, and diversified across the residential, commercial and industrial segments. The property development segment’s unbilled sales as at 31 December 2016 of RM 1.5 billion will provide earnings visibility for the division over the next 1-2 years. The segment is also well positioned to actively pursue strategic land banking, having recently acquired a 8.45-acre land directly opposite the Group’s RM4.0 billion Sunway Velocity development in February.

The property investment segment recorded revenue of RM692.0 million and profit before tax of RM158.7 million for the current 12 months period ended 31 December 2016 compared to revenue of RM638.9 million and profit before tax of RM315.6 million for the corresponding 12 months period in the previous financial year. Revenue was higher in the current period due to higher rental contribution and better occupancy at the Group’s portfolio of investment properties, and an increase in the number of visitors to Sunway Lagoon following the opening of Nickelodeon Lost Lagoon in 2016. Profit before tax was lower mainly due to lower fair value gains from revaluation of investment properties and Sunway REIT properties, which saw a drop of approximately RM105.3 million in the current year compared to the preceding year. Profit before tax was also impacted by pre-opening expenses incurred for Sunway Velocity Mall which was opened in December 2016, provisions made for the termination of Sunway International Vacation Club, and impairment for the BRT Park N’ Ride facilities, totaling approximately RM40 million. In absence of the additional costs and provisions above, the profit before tax of the division in the current period would be only slightly lower than the corresponding period of the previous financial year.

The construction segment reported revenue of RM1,183.1 million and profit before tax of RM134.1 million for the current 12 months period ended 31 December 2016 compared to revenue of RM1,222.1 million and profit before tax of RM162.7 million for the corresponding 12 months period ended 31 December 2015. The lower revenue was due to lower revenue recognition from local construction projects and higher intra-group eliminations in the current period. Profit before tax in the current period was lower in line with the lower revenue. Nevertheless, strong growth is expected for the segment as the construction outstanding order book remains healthy at RM 4.8 billion, with order book replenishment in 2016 of RM 2.7 billion, higher than the management’s target for the year of RM 2.5 billion.

— End of Press Release —

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Press Release: Sunway Property Enters Malaysia Book Of Records For First Property Customisation and Online Purchase System- Offers RM10,000 Rebate for Online Purchasers

Sunway Property has received a recognition from the Malaysia Book of Records for having launched the “First Property Customisation & Online Purchase System” in Malaysia for its integrated Sunway Grid project in Sunway Iskandar, Johor.

The Sunway Grid website
www.sunwaygrid.com
 allows buyers to customise, book and purchase their preferred “convertible homes” in Sunway GRID Residence anywhere, anytime with just a few clicks.

Customisation options include the type (standard or loft), unit floor, view (river view or harbour view), unit, layout or number of rooms, and furnishings. All of these can be done with a few simple clicks and confirmation of reservation is done by paying RM500 only via a payment gateway.

“The Malaysia Book of Records look to acknowledge originality and creativity and records that can inspire others eager to surpass an achievement. We believe that Sunway GRID has achieved this with its first e-commerce website that allows customisation online in Malaysia,” said
Christopher Wong, CEO of the Malaysia Book of Records
.

“We are honoured to be certified by the Malaysia Book of Records for being the first developer in Malaysia to launch digitally-purchasable-and-customisable homes. We had the best interests of the customer in mind when we developed this concept for Sunway GRID, offering ultimate flexibility for our customers during the buying process and in their configuration choices for their units. The personalization factor, combined with the most affordable price in the vicinity of Medini, is expected to attract the influx of youths to Sunway Iskandar,” said
Gerard Soosay, CEO of Sunway Iskandar.

“For the buyers, this project intends to deliver convenience, service quality and for us, it would ultimately deliver improvement in competitiveness for the long-haul since any business’ future now depends on technology,” he added.

“In conjunction with the achievement, Sunway Property is offering a RM 10,000 rebate for online purchases with its Crazy GRID Deals which will take place from March 5-to April 30,” he added.

Sunway GRID Residence is a part of the RM 402 million GDV (gross development value) Sunway GRID integrated development, comprising shops, office and residential components that aspires to bring together a community of youths to commune, exchange ideas, and flourish their personal and business ambitions. This is the first time that the developer has designed a fully youth-centric development. The residential component, which was the first to be launched, has achieved a 70% take-up rate.

Buyers of Sunway GRID Residence will be able to enjoy other amenities and facilities in the masterplanned community of which Sunway Property holds 40% stake in and has invested RM 1 billion. Amongst the amenities are the newly-opened Sunway Big Box Retail Park, X Park, and Sunway International School which are just a short walking distance away. The developer will also be launching its first Sunway Big Box Hotel and SJK (C) Cheah Fah school by the end of the year. The project is just a mere five kilometres away from Singapore through Coastal Highway Southern Link (CHSL). For easy accessibility, Sunway Iskandar has also partnered with Causeway Link to provide public buses for residents working and traveling to Singapore once they move into the township.

For more information about Sunway Iskandar, visit
www.sunwayiskandar.com
  or follow Sunway Iskandar on Facebook and Instagram.

–End Of Press Release–

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Press Release – Sunway REIT started new financial year on a firmer ground

I think REITs should be something we can consider if we have not really saved enough for a home and yet really think property investment is the way to go. As for which REIT is the best, seriously read about them more before buying. Look at their typical returns. Look at the properties that they are managing. Visit those places. Buying REITs require some understanding about the occupancy rate for example. For more information on REITs, here’s one good site.
Complete Guide to REITs by dividendmagic.com.my
Below happens to be a press release from Sunway REIT. Read on. Cheers.

Press Release by Sunway REIT

— start —

FINANCIAL RESULTS ANNOUNCEMENT

SUNWAY REIT STARTED THE NEW FINANCIAL YEAR ON A FIRMER GROUND

Key Highlights:

o    Revenue increased by 9.5% year-on-year to RM141.2 million mainly contributed by higher revenue across all segments.

o    Proposed DPU increased by 17.6% year-on-year to 2.67 sen.

o    Unitholders approved the proposed acquisition of Sunway Clio Property on 25 October 2017

Financial Highlights

FYE June 2018

Current Quarter / Cumulative Quarter

1Q2018

1Q2017

Change

RM’000

RM’000

%

Gross revenue

141,169

128,879

9.5

Net property income (NPI)

110,986

96,065

15.5

Net realised income

78,736

66,732

18.0

Unrealised income

493

-2,589

>100.0

Total profit for the period

79,229

64,143

23.5

Proposed / declared distribution

78,634

66,853

17.6

Distribution per unit (DPU) (sen)

2.67

2.27

17.6

Annualised distribution yield (based on unit price of RM1.72 per unit on 30 September 2017)

6.2%

5.2%
1

N.A.

1
 Based on actual DPU of 9.19 sen declared in FY2017 and unit price of RM1.78 as at 30 June 2017.

N.A.  denotes not applicable

Sunway City, 31 October 2017
 – Sunway REIT Management Sdn. Bhd., the Manager of Sunway

Real Estate Investment Trust (Sunway REIT), is pleased to announce its financial results for the period

ended 30 September 2017.

First quarter unaudited financial results for the period from 1 July 2017

to 30 September 2017 (1Q FY2018)

Sunway REIT started the financial year with an encouraging set of financial earnings in the first quarter

of financial year ending 30 June 2018. Revenue increased by 9.5% year-on-year (y-o-y) to

RM141.2 million, mainly contributed by higher revenue across all segments. Net property income (NPI)

expanded at a stronger rate of 15.5% y-o-y to RM111.0 million on the back of higher revenue and

lower property operating expenses.

The retail segment recorded a healthy growth in revenue and NPI underpinned by high average

occupancy rates for all retail malls in the stable of asset portfolio, mainly due to higher average gross

rent for Sunway Pyramid Shopping Mall. Revenue rose to RM103.6 million for the quarter ended

30 September 2017.  In comparison to the corresponding quarter in the preceding year, revenue

improved by 3.9%. NPI increased by a higher quantum of 9.4% in 1Q FY2018 to RM78.3 million

on the back of higher revenue and lower property operating cost.

The hotel segment reported a stronger financial performance for the quarter ended 30

September 2017. Revenue and NPI increased by 40.9% y-o-y and 43.7% y-o-y in 1Q FY2018,

primarily attributable to full resumption of operation at Sunway Pyramid Hotel following the

completion of its refurbishment in June 2017. In addition, Sunway Putra Hotel enjoyed higher

average occupancy and average daily rates during the quarter, benefitted from higher

demand from the SEA Games 2017 and ASEAN Para Games 2017 held in August and

September respectively.

Meanwhile, the office segment reported a revenue and NPI growth of 8.1% y-o-y and

8.5% y-o-y respectively, largely attributable to higher average occupancy rates at

Menara Sunway and Sunway Putra Tower.

For the quarter ended 30 September 2017, the Manager proposed a DPU of 2.67 sen,

representing an increase of 17.6% compared to the corresponding quarter in the

preceding year.

Dato’ Jeffrey Ng, CEO of Sunway REIT Management Sdn. Bhd., commented,

“I am pleased to share the encouraging sets of financial earnings which is in line

with our expectation of a firmer year in FY2018. We are confident that the asset

enhancement initiatives (AEIs) which we had undertaken in the last several years

are showing encouraging progress in performance despite the continuous challenges

affecting the property market / sub-sectors.”

Sunway REIT announced the proposed acquisition of the mixed-use

Sunway Clio Property comprising a 4-star hotel, a retail podium and car park bays

for a purchase consideration of RM340 million on 3 August 2017. Upon completion

of the acquisition expected in 3Q FY2018, Sunway REIT’s combined property value

will increase to RM7.12 billion, achieving our target of RM7.0 billion.  The proposed

acquisition of Sunway Clio Property was approved by unitholders at the Unitholders’

Meeting held on 25 October 2017.

Sharing on the prospect of Sunway REIT, Dato’ Jeffrey further commented “Barring

any unforeseen circumstances, we expect Sunway REIT’s DPU to grow moderately

in FY2018 supported by moderate growth in the retail segment, resumption in income

contribution from Sunway Pyramid Hotel following the full completion of its refurbishment

in June 2017 and gradual improvement in the overall occupancy of the office segment.

In addition, we expect new income contribution from the recent acquisitions to contribute

positively to the DPU in FY2018 and beyond.”

— end —

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Press Release: Tropicana Honoured With Top Two Accolades At BCI Asia And Asia Pacific Property Awards

Press Release: Tropicana Honoured With Top Two Accoladesat BCI Asia And Asia Pacific Property Awards

Petaling Jaya (30 June 2023) – Tropicana Corporation Berhad (“Tropicana”) was recently recognised among Malaysia’s Top 10 Developers at the BCI Asia Awards 2023 ceremony, held at Mandarin Oriental Kuala Lumpur, judged by its recent signature townships such as Tropicana Aman and Tropicana Uplands.

At the same time, Tropicana Cenang took home the coveted Five-Star Best Apartment/ Condominium accolades at the Asia Pacific Property Awards (“APPA”) 2023, held at the Bangkok Marriott Marquis Queen’s Park, Thailand. APPA 2023 also recognised Tropicana Cenang as a nominee to compete at the upcoming International Property Awards (“IPA”) in London, UK in February 2024.

The achievements represent the Group’s 11th and 14th victorious years on their respective recognition platforms, as a testament to its unique development approach. Ixora Ang, Executive Director, Marketing & Sales and Business Development of Tropicana, shared more on the milestone.

“We are truly honoured to be recognised among the nation’s leading property developers by BCI Central, as well as a Five-Star winner at the Asia Pacific Property Awards. We have participated in these prestigious platforms since 2012 and 2009 respectively, and this recognition is a testament to Tropicana’s robust development DNA in the eyes of the industry and our peers. We look forward to delivering excellence and value for our customers and stakeholders, as we continue Redefining the Art of Living,” she said.
BCI Asia Awards 2023
Now in its 18th year, the BCI Asia Awards were established by construction data and solutions provider BCI Central to recognise leading developers across the region. Tropicana’s recognition on the platform showcases the aggregate value of its projects under construction, as well as the extent of their sustainability practices and green building ratings. Among the key projects that were judged were:

Tropicana Aman, the largest 863-acre township by Tropicana in Kota Kemuning. Its pull factors include an 85-acre Central Park, with abundant recreational spaces and lakeside pavilions. A recreational hub and two educational institutions, namely Tenby International School and SJKC Bukit Fraser nearby, cater for the growing needs of the community, while the township’s strategic location offers proximity to major routes such as the Elite, SKVE, Kesas and LKSA Expressways.

Tropicana Uplands, Gelang Patah, a self-contained 244-acre township with complementary residential and commercial spaces, as well as a sprawling 16-acre Central Park. Located in Iskandar Malaysia’s Flagship Zone B, Tropicana Uplands has excellent accessibility and caters to consistent demand for landed property in Malaysia’s southern growth corridor.

Asia Pacific Property Awards 2023
Established in 1993 to celebrate the highest levels of achievement by companies in the property and real estate segments, IPA benchmarks participating companies according to region and market, including Central & South America, Europe and the United Kingdom. Submissions are evaluated by a distinguished panel of over 100 judges, according to their respective expertise in fields such as architecture, development or interior design. Each year, Five-Star regional winners are nominated to proceed to the global level at the International Property Awards.

With a strategic location on the vibrant Pantai Cenang beachfront, the 5.28-acre Tropicana Cenang leverages on the natural pull factors and tourism appeal of Langkawi. Assana Serviced Suites is its latest residential offering, comprising 831 modern seafront serviced suites. Learn more by visiting tropicanacenang.com.my or call +016 363 0900.

-END-

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Pressure to earnings and increasing NPLs

Is a financial crisis coming to Malaysia? Well, the first sign would have to come from the banks. Thus far, none of the banks in Malaysia are reporting losses. However, as per reported in many local media, the earnings of banks are down versus the years after the 2008 financial crisis (US Mortgage crisis). Major reason is because of a slowing economy as well as higher amounts set aside for bad debts. Within the first nine months of this year, the banking sector registered a combined total net profit of RM5.22 billion. Compared to a year ago, this number is lower and has been falling for the fifth straight quarter from RM5.54 billion previously.

Topline revenue to the eight anchor banks in Malaysia grew 9.2 percent year-on-year. However, year–on-year profits are dropping. Analysts said this is due to higher overhead expenses and a jump in let loan allowances. Loans growth are also slowing which is not a surprise. This downtrend was caused by the decline from both the business (down 9.8 percent) and household (down 8 percent) segments.

Anyway, despite all these reports, it is still clear that “slowdown” is the keyword here. Nothing to do with ‘crisis’ yet. Perhaps “slight deterioration” would summarise the current banking industry. Do note that these doubtful debt provisions are conservative enough and even after these, the banks continue to report results which are broadly in line with expectations. I think everyone must continue to keep track of these numbers from the banks because these numbers tell much more than what some of the property gurus in the market are saying.

Do note that if Non Performing Loans (NPL) start to rise, it will trigger many other negative things as well, including even harder to obtain loans etc. Selling a property for a good price may be tougher then. Due to even stricter loan requirements, it would also be tough for potential buyers to get a loan. Happy following.

written on 31 Dec 2015

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Don’t pressure your manager, just perform. It’s for your future.

I am not satisfied with my increment. How can you help me? The company did not keep its promise. How am I supposed to live with a small increment? Has any of your staffs asked you this question before? A friend who just became a people manager told me that his staff asked him this question the other day. Over the past 19 years, I think I have this question asked to me a few times, not as direct because I am myself a very DIRECT person. Haha.

Anyway, the friend’s staff is already at the ceiling of the salary range for her job grade. She needs to get a promotion to the next grade before she can get higher pay. Obviously, she is trying her luck since my friend is her latest manager. I asked my friend if she is hardworking? My friend said, NO and she is very lazy too. I guess everyone now has an answer. These are those staffs that I really hate and if I have my way, I would not want to be her colleague in the near future. (Yes, politely ask her to change job)

After working for over 19 years of which 15 was in recruitment related roles, I can safely say that performers may not need to negotiate too much with the boss. If we helped the company to earn new businesses because we are capable and the company does not respond positively, it’s time to give our skills to another one which would appreciate it more.

The top sales people in the company DEFINITELY needs to be treated differently. The best PROGRAMMER better be provided with a special pay package because if he resigns, his work may need 3-4 programmers to do. There’s even a company which provides its best R&D engineers with a bonus of 6 months if they were to stay for 2 years.

Seriously, if these great people leave, the cost to rehire is going to be high and the cost of NOT having them working is even higher. Imagine just 3 months without your best sales person, programmer and R&D engineer. Of course, this is applicable for all other professions unless we are stuck in some manual work and we refuse to learn how to add more value into our job. By the way, Yahoo CEO Carol Bartz waited tables in the beginning after his graduation. The late Apple CEO Steve Jobs was once a technician.

By the way, careers aside, remember to invest your earnings. Needless to say, if we have children, it’s good to aim to be able to provide for them more.
Richer parents are great for kids, question is, are we becoming one
 As for changing your job, for the younger ones, choose a job which allows you to move UP. Not the salary part, the responsibility part. By the way, in my 19 years, there has been TWO occasions that I took a pay cut because the role offered will enable me to move UP. Fortunately, both times worked perfectly and I currently have a job which I love tremendously. All the best and just remember, performers do not need to negotiate with their managers. If our manager is not willing to listen, it’s time to move. Otherwise, be happy with what we have. Cheers.

written on 23 July 2017

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Price correction in the property market? Happened already… H1 2020.

Price correction in the property market is not price collapse or price downtrend. A correction may happen because the previous price was too high and thus was not sustainable. A correction may also happen because property markets need to adjust to the needs of property buyers. Many times, this includes the most important factor; PRICE. So, did price correction in the property market happened? According to this latest article, it has already happened in H1 2020. Something like how the eraser below can ‘correct’ what we wrote?

Photo by Pixabay on
Pexels.com

Article in thesundaily.my

National Property Information Centre (Napic) director Aina Edayu Ahmad said in H1 2020, half of the new launches in 1H2020 comprised houses priced at RM300,000 and below (6,657 units), while the RM300,001-RM500,000 houses accounted for 28.9% (4,476 units) and houses priced over RM500,000 accounted for 21.1% (2,161 units).

She said, “So we see that the market has done its own correction. In the past years, we have seen more of new launches in the higher range but now we are seeing more new launches in the range of RM300,000 and below.“

Meanwhile, Aina Edayu said new residential launches has recorded a substantial drop of 43.6% to 13,294 units in the 1H2020 from 23,591 units in 1H2019. She also said, “Residential sector remains as a major contributor to the property sector, accounting for over 65% of the volume and nearly 55% in terms of value.”

Her conclusion for the year? She said, “Although data did show some upturn in market activities earlier in the year, we would see a soft property market for the rest of 2020.“  Please do refer to the full article with more information here:
Article in thesundaily.my

Price correction in this case, as explained by NAPIC director Aina Edayu would be new launches which are priced lower than previously. These days, RM500,000 would be considered on the median side for affordability. Anything higher and we would see the developer struggling to attract buyers. Thus, in this case, if I am a developer and I am launching new projects, I would launch it at a price closest or lower than what most people could afford to buy.

More ways to reduce prices further

Recently, I learnt about a 900 sq ft home but it comes with 4 rooms! Of course, there are also a lot of STARTER homes as per what the developers call them. These are usually landed double-storey terrace homes but the size may be 18 x 65.  This will maximise the number of units which could be built on the same piece of land and will help to lower the prices too. Brief calculation for your understanding?

Assuming the developer could built 100 units of 24 x 65 superlink homes. This is 100 x 24 ft = 2,400 ft. The homes could be priced at RM940,000. Thus total gross development value (GDV) is RM940,000 x 100 units = RM94 million. The price may be too steep for many people. So how to the property developer induce a price correction in the property market?

Build More Units!

Developer could do this. use the same length of 2,400 ft to build 18 x 65 double storey terrace homes instead. Now, it becomes 2,400 ft divided by 18 ft and the developer could now build 133 units.  Assuming the same GDV of RM94 million, the developer could now divide this over 133 units and each unit would now become RM706,766.  From a mortgage repayment of RM3,521 per month for a RM940,000 unit (image below), the buyer would now only need to pay RM2,647.  This is almost RM900 lower every month! Enough for a new Proton X50.

Not just for landed!

High-rise developers could reduce the height of the ceiling from 11 ft to 10 ft and every 10 floors, the developer is able to save enough to build an extra floor. They could also decide to build a 9ft ceiling versus a 10 ft one. It does make the home look smaller but the price will be made very attractive versus if they were to build one less floor… or two.

These are some of the ways the supply must meet the demand in terms of price. If no one could afford to buy, then nothing happens. As for H1 2020, a lot of things happened yeah. Here’s
that official number of actual transactions and what it comprises. Do not be too surprised of it yeah.
 So, price correction in the property market has already happened and will continue to happen. The type of properties being offered are however different too. Happy understanding versus the never ending anticipating why the
property prices refused to drop, yet? (Earlier article here)

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Must we buy a high-end property to be happy?

Based on the salaries of working professionals in Malaysia, I think any property above RM850,000 is considered a high-end property. Why do I say so? Well
T20 household in Malaysia earns roughly RM10,000 per month. (click here to read more)
 If the T20 household spends 30% of their income for property repayment, they could spend around to RM3,200 per month for a home based on an income of RM9,700 or higher.

If we look at the mortgage calculator, we have the below:
(you can do it via www.calculator.com.my)

Why is demand for any property above RM800,000 will NOT be easy to be found?

When it’s a high-end property, the demand can only come from T20 households because it is only this group who would have a higher salary than is required for any property above RM800,000. Now, do ALL T20 households have the down-payment necessary of 10% for this high-end property? Maybe, if they have been saving money every month for a couple of years.

What about another RM150,000 for renovation costs? This is a tough one. Perhaps can aim at properties which are RM800,000 but is already renovated somewhat? That could save the buyer a big chunk of money. However, just with these two questions, we should already realise that when we buy a RM800,000 property, 80% of all the households in Malaysia would not be able to afford that property within these 2 or 3 years.

This is why a home sweet home does not need to depend on the price

I have been to friends’ homes which are very spacious, very big but I do not feel the warmth. I have been to friends’ homes which are small, even the living room is small but I would love to visit them again and again because the home is so full of love, laughter and GOOD FOOD! Haha.

Stop having the idea that if I were to buy a home which is not meeting EVERYONE else’s expectation, then I am not buying a good property. Seriously, even if we bought a RM800,000 home, there are still many hundreds of thousands of people who are staying in pricier homes yeah.

Stay focused on what we really need

These would be some questions to ponder. Example:

Could I afford it without feeling stressed every month?
Is it large enough for our liking? Do I really need such a huge space?
Near enough to places we visit often? It does not need to be to ALL places because we change and things change.
Have we inspected the property? (if secondary). Have we checked out the developer’s past projects and all the reviews online? (if primary). Have we checked with the management on the owing of maintenance fees? (if auction).  Briefly, have we done our home work?

If the answers are all Yes, then I think it’s a good home. Else, keep looking and never settle. It took me 4 months or more to decide on my first home and it took me over 1 month to decide on my second home even though the second home was so attractive. Haha.

Of course, if one could afford, then go for a high-end property!

Last but not least, there are reasons for a property to be considered a high-end property yeah. It really does give that extra emotional appeal yeah. If we are already at that stage, then we could buy one and enjoy staying in one. It’s definitely a home sweet home for many people. Cheers.

Want to read about the latest happening in the high-end condominium market? Here’s one.
Article in edgeprop.my

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Price to drop? Yes, if we sell lower than the price we bought.

We bought a new smartphone 6 months ago for RM1,600. Today, a new model is launched and is also priced at RM1,600. We fell in love with the new model and wants to get one to be ahead of everyone else. (I do not encourage this yeah.) When we sell our 6-month old smartphone, we will have to sell it at a lower price than what we bought. Could we sell it at a higher price than the time when we bought? The possibility is definitely there. Imagine the critical parts for the smartphone suddenly doubled in price due to a shortage in the world market and everyone ONLY wants that new model but not others. This meant that the new model could be launched at RM3,200 instead of RM1,600.  Our older model could actually be sold at RM1,600! Maybe higher.

Everyone says that property is an asset, so perhaps it should have a different story than the smartphone? (which is definitely not an asset based on the depreciation). We bought a new property for RM400,000 today. We stayed in it for 5 years and a new property nearby our neighbourhood was launched and the price was exactly the same as what we bought which was RM400,000! If we look closer however, that new property no longer shares the same specs as our 5 year old property. It is most likely smaller in size. The same price of RM400,000 was solely because the income has not moved a lot for our juniors. (younger workforce). However our juniors still want to stay nearby an established neighbourhood. Thus, they have to be willing to pay the same but get a smaller unit instead.

The question is, are we going to sell your 5-year old property for RM400,000 then? The answer may determine the success of the developer’s latest project. If they sell at RM400,000 for a smaller sized unit and you sell at RM400,000 for a bigger unit, then their latest project would just fail. Oh yeah, if they launched 500 new units at RM400,000 there has to be 500 sellers like us; willing to sell at RM400,000. If there are just a few of us, then the developer’s new project will be a success while that few people who sold at RM400,000 all sold at a loss. The answer to that question is therefore a strong NO. We will not sell our property at the same price we bought many years ago. This is exactly the reason why the property prices has not dropped for attractive areas despite the unsold and completed units having hit over
35,000 units all over Malaysia today. Earlier article here.

Happy enjoying that new smartphone yeah.

written on 5 Nov 2018

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50%-60% price hike in June??!!

50%-60% price hike in June??!!

This is the article with that news yeah:
Article in themalaysianreserve.com
  It was reported in Utusan Malaysia that prices of basic items in the country will likely see a hike between 50% and 60% after the implementation of the new RM1,500 minimum wage. Universiti Tun Abdul Razak economist Prof Emeritus Dr Barjoyai Bardai before the new minimum wage came into force, he said the prices of items have increased by 30% due to many factors among which include high demand as well as the conflict between Ukraine and Russia. Do read the report in full here:
Article in themalaysianreserve.com

Worried if price will go up 50 percent?

Seriously and statistically, if prices move up 50 percent, majority of everyone will be in a financial distress. The reason is because majority could not suddenly earn additional 50 percent to cover for this sudden 50 percent price increase. Majority also does not usually save more than 50 percent of their income which meant that if prices move up by 50 percent, there’s no way they have enough extra money to face this price hike. This is also why this price increase of up to 50 percent may happen to some products but cannot be for everything in the market which we are buying.

Would it rise by 50 percent over a longer period of time?

Certainly it will and it shall and it has been demonstrated by prices of our favourite beverage… that property which our parents bought a long time ago… it has also been demonstrated all over the world and it has a name too. It’s called inflation. This is also why people say investment allows us to hedge against inflation. Else, whatever money we have this year is less than last year and the year before! Oh yeah, that’s why we struggle to earn more money with every passing year because if we did not have any salary increment, our life gets harder, financially speaking.

What could we do about it?

The only reason prices rise is also because people could afford it. I repeat in another way. The only reason why people allow prices to rise is because they could afford it. Simple fact of life. If someone produces a good or a service and NO ONE could afford the price, then the price would have to be lowered until it could find some demand for it. This is the world of Demand and Supply.

A very good example, if price of teh tarik is now beyond the reach of many or that it’s just too high versus making own cup of teh tarik at home, then people will stop patronising the restaurants just for a cup of teh tarik. They have no choices but to make at home. When majority does the same, the restaurant would have to readjust their prices; lower their profit margin to attract customers to come again. Then again… people may just prefer to pay extra 20 sen every year and then complaining to all their friends about the price increase… while sipping their cup of coffee.

The above is not just an example for teh tarik. In Economics 101, Demand and Supply will always be a force which will force the price to adjust itself. This is the same for a property in a less popular neighbourhood versus a popular neighbourhood. Most of the time, when times are good, prices increase faster in popular neighbourhoods and when times are slow, prices go down faster in less popular neighbourhoods. Demand is higher when everyone likes it more and demand is lower when everyone prefers to pay lower for it.

Happy understanding and happy earning more because inflation is not going to go away. We can at best, manage it.

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1H 2021 is positive for price index across the world is positive. Possible?

1H 2021 price index a
cross the world is positive. Possible?

Actually I have written a few times but let me repeat on why property price increase is possible even when it seems that Covid-19 has caused people to lose jobs. The economy depends on the people who continues to earn and continues to spend. They buy goods and services. Briefly, economic activities depend on the employed (whether employed by people or they are business owners).

This is why people kept wondering why economy is growing, prices are growing but the unemployment is growing at the same time? That’s why it’s important to go back to the basics. More people unemployed means more people are not earning and income and could not buy any goods and services.

When it comes to property price for example, this will definitely depend on the ones who could buy a property. They are the employed. Hope everyone understands. Now, let’s look at what Savills World Cities Index is showing for the 1H 2021. Briefly, it’s positive.

This is the full article in Savills.com if you like to read.

The chart below by Savills Prime Index: Global Cities shows the world (cities which they track) and it includes Kuala Lumpur. In general, the half year price index change is close to 4%. In other words, we can say that the property price is generally moving upwards. In 2H 2020, which we could also say was considered the peak for Covid-19, the price index barely showed any increase, it’s below 1%. It was negative in both 1H 2020 and 2H 2019. So, can we also say that the prices have bottomed? Your answer is as good as mine.

We can see whether we stand individually at the chart after this.

Image Source:
https://www.savills.com/research_articles/255800/316762-0

C
onclusion from Savills’ report

Savills say that when international travel returns, it will provide an increased supply of buyers for prime properties in some locations. It says that in Europe and North America, there is a persistence of working from home and this will continue to sustain desire for additional floor-space in properties.  All these are supported by the low-interest rate environment. Beyond that there is a sustained economy recovery globally too.
If you like, you can refer to the full article in Savills.com here.

Conclusion from kopiandproperty.com

Do note that this report from Savills is an overall picture. It does not reflect enough when it comes to individual cities. In fact one may see that the report says something positive but he may still be forced to sell his property at a lower price than what the market price is.

This is why when it comes to reports, it paints a broader view while we still need to look into the property market price for the type, the location, size and others when we come back to individual properties. Happy noting this positive news around the world.

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Prices up because of ‘location supply scarcity’

Is it easy to control property prices? Well, due to land scarcity, Hong Kong and Singapore would be two very good examples of how governments try to control the supply of incoming units with the hope of ensuring a more orderly price increase. Singapore, though the building of it’s HDB flats would flood the market with more units if there are more demand anticipated in the following year. Else, it would build fewer units so that the prices do not actually drop due to oversupply of units. Hong Kong meanwhile releases more lands to the private developers through auctions with the hope that more units built meant amore affordable price tag for the flats. Well, the property prices in both countries are still extremely unaffordable today but perhaps if they did not take these measures, it could have been worse?

What about Malaysian property market? The property prices have also increased and some say doubled or tripled within the periods of 2009 – 2013, depending on the type of property that we are looking at. Statistically, this has not happened to every single area or type of properties but when we narrow it to certain areas, it has certainly doubled or tripled. Have we ever wondered why? Especially when it’s quite clear that there are now oversupply of luxury condos and the older secondary market is really still lagging behind the price per sf of newer ones? I would term this imbalance in property prices between hotter spots versus cooler spots as “location supply scarcity.” Generally, people love to buy what others are buying and thus majority typically follows the majority.

Seriously, for the years before and years after I bought Relau in Penang, people asked time and again, why. When I announced that I would be buying Sungai Ara, the questions came flooding again. In recent years and until today, for those who has yet to visit me in Damansara Damai, the comments are sometimes so awesomely insane that I just smiled these days. I am very sure the areas where they are staying in Greater KL today has no jams, has lots of nice malls, high-end international schools and even expensive private hospitals. That’s why the prices per sf they are willing to shell out is easily RM600 per sf or higher while my area should be worth just RM450 per sf or lower. Haha.

The trick is actually to understand why you love a certain area. Else, we would face the “location supply scarcity” over and over again which is why the popular areas are today reserved only for the super-wealthy or for those who somehow able to get a home loan and overstretched themselves so thin that hopefully no unforeseen circumstances happen to them for the next 25 years.

Dear kpiandproperty.com readers, please take out a piece of paper, write down again, all the WHYs for a good area. Then, browse online for areas with secondary properties which has a lower price per sf than the typical hotspots. Start researching if all the WHYs you listed in your piece of paper are also in these secondary areas. Time to call your real estate negotiator for viewings. Buy and hold a bit as times are bad currently. As long as we do not over-stretched or buying something way too overvalued, we should do just fine. Oh yeah, majority of anyone and everyone in Singapore or Hong Kong today is already a millionaire due to the property they bought years ago. The question is, would we want to start this journey to be like them one day. Happy Year of the Monkey. (A good friend reminded me, Monkey without k is Money, haha)

written on 6 Feb 2016

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Prices will increase, after GST. True?

A colleague spoke to me when we left office the other day. He said that he had missed the pre-GST property purchase. His friend told him that after GST is implemented, the property prices will increase. Another friend spoke to me last weekend about a friend who told him that she regretted buying a secondary property for RM300,000 last month. She should have waited because GST is going to cause property prices to go down. The views cannot be wider and it happened to be just few days apart. My colleague spoke to me on Friday and my friend spoke to me on Sunday. So, which is true, or rather more true?

What about prices of majority of all goods? Surely the current frantic buying is the best way to beat the GST, at least for this year? For example, buying one dozen packs of 5kg washing powders. Go to the hypermarket today if you think I am joking. How about buying one dozen packs of one dozen rolls toilet papers? Yes, that’s 144 rolls. It can definitely last one whole year even if the whole family got diarrhoea at the same time. What about foodstuffs? Canned food? What about electrical goods? A new set of sofa? Let us look at majority of all businesses. From the producers of washing powders to toilet papers and canned food and even manufacturer of electrical goods today. Seriously, are we sure that as soon as GST starts, we would all stop buying and these manufacturers would go bankrupt because they COULD NOT sell their goods cheaper or maintain current pricing and absorb that GST increase? However, if each and everyone of us are buying like there’s no tomorrow, do you think they will reduce the price later? Yes, this is the same argument for new cars.

After 1st April, whether property prices go up or not actually depends on the market condition. If anyone could still remember, just in 2012, the prices of all new launches were already reaching for the sky. RM500,000 was totally unheard of. Today, there are so many choices within this range. Was it because of the impending GST? Or was it due to just the usual demand vs supply plus the negative sentiment after 2012 when all the cooling measures started to take effect? Buy if you like that property. Do not buy because of GST.  Do not buy if that property does not fit what you are looking for, keep looking. If we should not rush when we are driving, why should we rush when we are buying a property which may be the largest ever purchase that we would ever have in our lifetime? Happy deciding.

written on 30 Mar 2015

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Will prices keep rising for landed? (even in older neighbourhoods?)

I was speaking to someone a few years younger than me a few weeks ago. We were discussing the limits in the prices of properties in mature neighbourhoods and also the limitations of newer but much further away neighbourhoods. She said that the area she stayed in is the best because she could get everything she wanted within minutes.

Obviously she is staying in a mature neighbourhood, usually a hotspot based on the demand vs supply equation. Well, her home is over 25 years old and it was renovated not too long ago. I asked if she would buy her current home at CURRENT market price if it is at the SAME design that she bought 25 years ago and she has no budget for extensive renovation. She did not answer and changed topics. 🙂

Speaking of landed homes, I have stayed in landed homes for at least 20 over years. However, the first property I bought was an apartment of 700 sq ft in Penang. That was 15 years ago. I have been staying in high-rise homes ever since and have moved 4 times. I am 41 now. 🙂  I love my parents’ landed home in Ipoh. It’s where I grew up. It has all the memories of my happy teenage years and it’s where my friends and I play since young.

It’s within an area with rows of landed homes and we could not see any high-rise units next to our home. My parents bought our Ipoh home when I was 12. So, the design then and the taste of the people of today would be different. That’s why every new owner who bought a house within the same road took the opportunity to do extensive renovations to the house. They love the area, it does not mean they should love the house design…

This is the reason why prices for landed homes, even in mature and old neighbourhoods cannot be rising until it reaches the sky and then the moon followed by the sun. The reason is because the house price is just one part when one buys into these older but mature neighbourhood. The extensive renovation is another. A RM1.2 million home would still require another RM300k renovations conservatively and yet, this very nicely redesigned and rebuilt home can be flanked by two 30-year old designed houses on its left and right.

The main reason to buy into these older and more mature areas? Usually, it’s for the family. Emotional connection perhaps. Staying close to the parents is one example. My brother did the same (he wants to move back to Ipoh in the future) despite knowing that the price he paid and the rental he could get will never match one another for a very long time.

Potential buyers from outside the area who are looking for a new place to call home does not have those ‘connections’ to these mature neighbourhoods unlike those who bought much earlier and have stayed there ever since. Today, potential buyers would have choices of a modern looking home which they could just do some minor renovations instead of a very extensive one which includes even the piping and the electrical wirings.

It is very true that there are so many conveniences which all these mature neighbourhoods have but the question will always be whether it’s worth the huge gulf in property prices when newer neighbourhoods have ever better community designed spaces for the elderly and the children. This is why sometimes, owners will find that the price which they wanted to sell will take a long time even for a very established mature neighbourhoods.

Of course, property prices in these mature areas will be strong and can still go up occasionally. Most owners would have finished paying for the homes too. Finding a desperate seller among these owners who is willing to sell 20 percent lower than the previously transacted price will not be easy. Finding a desperate buyer who will just buy without comparing or even negotiating is just as hard.

Take a step back. Understand what we really need. The choices are usually clearer when we have the objectives. As for that friend of mine, I am very sure she will NOT pay the price she said the home is worth today if she is a new buyer looking for a place to buy today. Happy understanding and making your next buy a home sweet home, wherever it may be.

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written on 7 Sep 2018

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Huh? So negative still up 7% in Q1 2015?

Negative news everywhere. Yet, in Q1 2015, Malaysian home prices rose 7% versus the same corresponding period in 2014 according to Knight Frank Global House Price Index. Okay, the fortunate thing perhaps is that 7% up meant Malaysia is out of the top 10 highest growth property markets in the world. Based on a a six-month period from Q3 2014, home prices in the country only rose by 2.5 percent while based on a quarterly basis, Q1 has actually shown a decline of 0.2 percent basis.

Top spot for the past 12 months increase was clinched by Hong Kong with 18.7 percent, followed by Turkey at 18.6 percent and Ireland at 16.8 percent. Sometimes I always wonder, why markets such as Hong Kong with the prices way above the usual affordability ratios can continue rising as if the sky is the limit. According to the report, lack of supply together with the popularity of smaller apartments contributed to this growth. The rest of the top 10 are not the usual markets Malaysians buy. They are Luxembourg, Estonia, Colombia, new Zealand, Iceland, Sweden and Norway. Take a look at the chart by Knight Frank below which was published in property guru.com.my

What this tells us is an average number. It should be taken at face value that every property has increased in price by 7 percent. However, this also tells us that prices may continue to increase when the demand exceeds supply. Yes, even if the supply is HUGE but it’s not at the places that majority wanted, it would still meant demand is higher than supply and prices would still increase. Today, in KL, it is easy to see that anything below RM500,000 remain popular but many are still not willing to accept to buy in more secondary areas. Just look at the success of Westside III in Desa Parkcity for an idea about demand versus supply and affordability which is totally not true. Oh yeah, an agent even told me that RM250,000 can only buy a flat today, another grossly untrue statement unless one is talking about all the hotspots.

Buy objectively in times of uncertainty. However, the certainty is that home is a necessity and thus whether in a good market or a bad market, certain properties would remain popular and once affordability is so bad that everyone has to consider secondary areas, then rest assured that it’s time that the prices in these areas will rise. It is certainty safe to say that majority of all Malaysians will not be able to afford those above RM1,200 psf properties.  those with a family would certainly not be buying a SOHO 500sf for RM500,000. Stay savvy, stay objective. Happy buying.

written on 13 June 2015

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Prices to recover in 2h 2014 – Are you ready yet?

There are many predictions saying that H2 2014 would see price recovery. Actually, have you ever thought about what does it mean by recovery in H2 2014? It means that prices may either start going up in July or August or September or any months after that. Ever noticed why no one ever said, it will recover on 24th June 2014? The truth is, no one knows. If they know, they do not need to give predictions, they will quietly borrow LOTS of money and make huge profits and go do whatever they like to do.

Assuming price would recover in H2, do you buy today, tomorrow, later or maybe better wait longer? If you buy today, your total transaction would only complete by June / July, by then the prices would have started to go up. Do you sell? Or do you wait till closer to H2, so that you can already see the signs via business reports or analysts analysis. In case you have forgotten, any report about what has happened, will only be released after it has happened, not before. I hope you agree, unless of course you happen to be an analyst who can write a report before anything happen.

Never ever jump into buying anything. It’s called suicidal buying. Never wait too long to buy. It’s called impossible buying. If you believe any report and start buying, it’s called simply buying. All three conditions are not the right one to buy. Conditions should only be set by you after reading through as many reports as possible and decide based on what you intend to achieve in life with your property buy.

My friends, always buy value and sell value. Use rental as a benchmark because property prices may go up suddenly but rental is a sticky point. It does not change suddenly. If the property you are about to buy has a good rental and many people are looking to stay there and the rental yield is still positive, just buy. Time and tide waits for no men. In terms of property, the earliest buyer catches the property. Question is, are you?

written on 4 March 2014

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Priciest offices in the world are in Asia. Where?

In my most recent trip to Hong Kong, I shared my thoughts here.
We will be CLOSER to one another in the future; space shortage
.
 I wrote about how space is a huge premium in Hong Kong. Well, in a recent report following cities were mentioned. Hong Kong Central, Beijing, Tokyo, Shanghai, Delhi and Hong Kong, Island East. These 6 are among the top 10 priciest offices in the world! Sorry, Singapore is NOT within the list even if it is still the world’s most expensive city. (As per Worldwide Cost of Living report 2016)  According to an article in
Starbiz
, the top 10 priciest office rental as per JLL’s latest Global Premium Office Rent Tracker are as follows:

Top 10 Most Expensive City Districts for Renting Office Space

1. Hong Kong, Central

2. London, West End

3. New York, Midtown

4. Beijing

5. Tokyo

6. Shanghai

7. Delhi

8. San Francisco

9. London, City

10. Hong Kong, Island East

According to the JLL’s tracker, Hong Kong’s Central District’s rentals are more than 50% higher than the rates offered in London and New York. In fact it has hit a record high of approximately RM1,300 (US$302) per sq ft per year to rent, a 15% increase from a year ago. It said main reason was due to shortage of supply with companies from Mainland China buying and owning even more of Hong Kong. With such a high price however, this will start to push demand out to nearby growing core districts. Two other China’s big cities, namely Beijing and Shanghai has slipped down the rankings because New York and Tokyo has outperformed them respectively. Tokyo is also helped by the fact that the Yen has also strengthened considerably against US$ within the past 12 months period. It was US$1 to Yen123 just 12 months ago. Today (5th Dec 2016), it’s at US$1 to Yen 114.

It’s good to note that the rental on a price per sq ft in Kuala Lumpur is definitely not going to propel us anywhere near these top ten cities. Not even in Asia. The only thing we must keep focusing on would be how to get more regional head quarters to be opened in Kuala Lumpur instead of other ASEAN cities. For these, the focus should been infrastructure readiness and talent pool. Do we have them? Well, we are building them and as for talent pool, there’s still me. There’s also a huge pool of awesome professionals who are kopiandproperty.com readers too. Happy following.

written on 5th Dec 2016

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