Practical money tips – buying furnitures for your new home

To those who think a sofa set is at minimum RM8,000 or higher, you may skip this article. You bought a new condo. You need to fill it up with furnitures. How much is enough? Today, I share with you real prices as at today or perhaps this year. It should not exceed RM7,000 and if you really are on a tight budget, you can still make do with half of this budget. No, this is not a joke. I am already doing it and have been doing it many times over.

Sofa Set. Everyone comes into your home, first thing they see is your sofa set. Second thing they do is to sit on your sofa. This is likely to be the most expensive piece of furniture you need to have. Make sure the colours match your living room area. Buy a soft fabric based sofa and make sure it is washable. When you sit onto the sofa, it should give a firm feeling. Not soft or else it will not last you more than 2 years. It should not exceed RM3,000. I have seen a nice sofa set, 5 seater L shaped + 2 seater for just RM2,600. If all the sofa sets you have seen are over RM3,000 you must be in the wrong place. Continue searching. Go Courts Megastore to try first before other furniture shops. Then, you get a good benchmark.

Dining Table. Get a hardwood type. Not chipboard. Ask the seller. Typically, rubber wood is the cheapest hardwood you can find. If the seller said, ‘Nyatuh’ and the price is still below RM2,000 get it. Needless to think. Typically a 6 seater rubber wood dining set (6+1) is around RM1,500 – RM1,800, depending on the design etc. The cheaper the better but typically it should not exceed RM2,000.  I will be buying one for RM1,380 at a furniture shop in LDP furniture mall.

TV Rack / Table. If you say I don’t need one, my TV is on the wall, you are wrong! You need a rack to put your DVD players, DVDs (original / pirated) and many more things. Again, buy one which is solid and preferably one with lots of drawers. Don’t buy one which is open concept. You will die wiping it. Or your wife will faint wiping it. Typically this should be between RM600-RM800. Anything above RM1,000 is way too expensive for a TV Rack even if it looks so modern, so nice etc.

Shoe Cabinets. Do NOT buy a small one. Buy one which is 4 feet in height at least and as wide as your condo can fit. You will not regret this unless you want your wife to stop buying shoes and start buying HANDBAGS. I think you better let her buy shoes. The price range for this is very wide but safe to say, below RM800. This one does not need intricate design. Just a solid one would do. After you started using it, no one will be commenting on how amazing your shoe cabinet is. Trust me. I have bought no less than 7 shoe cabinets thus far.

Last but not least, for everything above, IF you are someone who is ok to be extremely careful in using your sofa, dining table, TV Rack and Shoe Cabinets, the price above can all be halved. A firm but less fancy sofa can be as cheap as RM999 for a 3+2 seater. Just go to the huge furniture warehouse based shops along Damansara to Sungai Buloh, opposite the Mega Store. Dining Table, 6+1, for which the table is thinner and the seats are slightly more compact and the handle is thinner, RM599 is a possible price. TV Rack – RM399 is a huge possibility, but it will be slightly smaller and less drawers etc. Buy what you ‘need’ not what you ‘want’.

Remember, if you buy a good one for half price of an amazing one, after using it for 3 years, you can change the whole set and renew your condo immediately but if you buy too expensively, you will feel hurt to change it and thus you have to just continue using the same thing for many many many years. It’s a choice really. I have told you mine.

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Tips on why NOT to buy a condo

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Pre-Launch Sales behind speculation?

Today, Minister Datuk Seri Wahid Omar advised REHDA to get their members to stop pre-launch sales. The reason he said so was because he believed this was one of the ways in which the prices of properties were driven up. The reason was because these pre-launch sales typically attracted more property investors than genuine buyers.

REHDA president, Datuk Seri Michael Yam however defended pre-launch sales because this may be a way for developers to get registration, get a response as to whether the project is viable or not. If the reasons are genuine, then it should be allowed. He also said Putrajaya should provide some guidelines because these kind of sales does come under a gray area.

Personally, I feel that pre-launch sales should not be stopped. However, it is very true that there are just too many property investors who are much more eager and ready when it comes to pre-launch sales. They would register well in advance, they would have their own networks which help each other monitor when are sales launches and they are also much more daring and willing compared to more genuine buyers. Typically, genuine buyers would need time to think, if the location is suitable for them. Is the property the best buy out of the many launchings today. They may even need to consult their parents. Once the genuine buyers do all these versus the property investors who has made advanced study or may not even make any study, they would already be much slower than these property investors.

Now, what happens when these property investors manage to snap up the property? Well, when the property is completed, they will sell it higher. It would not be 5% higher. It will be 20-30% higher or even higher! If we want to control these speculative activities, I think limiting the number of properties any person can buy would be much more effective. Secondly, developers may want to also stop selling in bulk to any one buyer. There is just no reason for any buyer to suddenly wanting to own 10 units? If they continue to sell this way, the developers may earn their profits faster but once every developer does that, imagine what would happen to the market? In the end, think carefully, which party may be jeopardising their very own long term future? Come on, NO ONE in the business world should earn extraordinary profits. This includes property investors, property developers and any other stakeholders as well.

Remember again and again, the reasons for the mortgage crisis in America. Only one word; greed. Everyone wanted ever higher, ever faster profits. This would never last.

written on 23 Jan 2014

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Property Bubbles Everywhere

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Precautions are needed please. Coronavirus is now in Malaysia.

Everyone, this is serious. I think every media outlet must do their part to alert everyone about this and not to take it lightly. Please refer to the official news from the
Health Minister himself here.
 He announced that Malaysia has confirmed three cases of the Wuhan coronavirus in Malaysia. All the three are China nationals from Wuhan and are the family members of the 66-year old Chinese patient detected in Singapore recently. He said, “While they did not show symptoms, lab tests confirmed that they have the virus. We have placed them under observation and isolation at the Sungai Buloh
hospital and all three patients are in stable condition.” Full article here.

Header Image from World Health Organisation (WHO) Important reminders as below. (click here) Please take care everyone!
 Look out for symptoms and please be alert all the time.

Image source:
https://www.thesun.co.uk/news/10768232/china-coronavirus-symptoms-death/

How do we prevent ourselves and loved ones from this potentially fatal virus? Please note that there are no vaccines to prevent 2019-nCoV infection currently. These are MUST-DO steps everyday.
Reference: Centre for Disease Control and Prevention.

Wash your hands often with soap and water for at least 20 seconds. If soap and water are not available, use an alcohol-based hand sanitizer.
Avoid touching your eyes, nose, and mouth with unwashed hands.
Avoid close contact with people who are sick.
Stay home when you are sick.
Cover your cough or sneeze with a tissue, then throw the tissue in the trash.
Clean and disinfect frequently touched objects and surfaces.

Image Source: CBC News

Thank you for reading and please start taking this more seriously. Take care everyone and may everyone be safe until this is fully contained and stopped.

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CAN’T predict the market but CAN give facts about… Kuala Lumpur.

Before you continue to ask me why I am always so supportive of the Malaysian property market or whether there’s something wrong with me, well let’s get this straightened out first. Sorry, I am not saying we should simply buy any property in Malaysia or even within Kuala Lumpur yeah. Whether it’s a booming market or a market with lots of unsold properties, a bad property remains a BAD property and a good one will eventually find its value when the market regains its footing.

Now, since this is cleared, let’s read these few lines from a prominent property personality. I do not know him personally but I have read about the company he represents and it’s definitely a super huge one. The company is Lendlease and the personality is its Asia chief executive officer Tony Lombardo.
That full article in The Edge Financial Daily is here.

“We can’t predict the market, but we can give buyers facts. What people do is compare the relative pricing of Kuala Lumpur, versus some of the other cities. If you look at Kuala Lumpur, people see a lot of embedded values because of the price point they are entering. So people will make those calls, because they will make those comparisons,” said Lendlease Asia chief executive officer Tony Lombardo in a recent interview with The Edge Financial Daily.

He also explained that he sees potential future appreciation in the long term and that fundamentals for Kuala Lumpur is generally similar to many other markets. There are values to be found because of the price points which people are entering. he was also confident of its ‘value-proposition’ residential tower in the upcoming financial district the Tun Razak Exchange (TRX). This is his views about urbanisation projects.  He said, “One of the key things we are seeing globally is urbanisation projects. Because of their connectivity and amenities, people are now willing to pay a price premium, and they are paying for that proximity to have access to various things.” Please do proceed to read his full views in
That full article in The Edge Financial Daily is here.

By the way, there is NO need to believe him if you believe in some other property markets outside Malaysia, okay? Stay focused on finding value and as long as that particular market shows promise, by all means do go ahead. Property investment does not need to be confined to just one market or even type for example. Just remember that
Same car, same property? Different results for different people
 .

Anyway, the Malaysian property market is not just Kuala Lumpur yeah. There’s the other markets from Penang to Ipoh to Melaka to JB and even Kota Kinabalu and beyond. it’s just taking that longer term view and buying something we need and start forcing ourselves to save money via property too. Happy believing and buying yeah. Happy deciding.

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Prediction for property price to fall 11% in 2023

Can anyone predict that property prices will fall accurately? Well, the same answer it will be for the question of whether anyone can predict accurately when property prices will increase. I certainly have zero idea that the condo I bought in Kelana Jaya for RM183,000 would be sold at RM460,000 8 years later. No one told me so and if someone told me so, I would laugh at their prediction.

Well, here’s one prediction for property prices to fall by 11% in 2023 for Australia.

Article in news.com.au
  House prices to plunge 11 per cent next year, new NAB (National Australia Bank) report warns.  It says that by midway of 2022, property prices will weaken and by 2023, NAB predicted that home prices will fall by 11 percent.

The main reason is because the Reserve Bank flagged that interest rates could rise at some point in 2022. However, predictions for property prices is still positive for 2022. Take a look at the chart below.

Source:
https://www.news.com.au/finance/economy/house-prices-to-plunge-as-much-as-11-per-cent-next-year-new-nab-report-warns/news-story/636df0bc806689f5f79a2191234573f9

For a full article about the predictions and all the other details, refer here:
Article in news.com.au

Let’s assume it does fall, what does it tell?

We just need to look at the UNBELIEVABLE numbers for 2021 to realise that perhaps property prices have moved too far too fast? There is no way anyone in Australia would get a salary increment anywhere near those kind of increase in property prices. The average of capital city price increase was 21%!!

If it does fall in 2023, it meant that the property price is trying to readjust itself back to the realities on the ground; salaries of potential buyers need to rise first. If we look at the numbers as a whole from 2020 all the way to 2023, we also need to realise that the price is till up versus down. Here’s a simple calculation using all the average numbers with a AUD100,000 home. (no such prices in Australia, generally)

AUD100,000 x 2% up = AUD102,000 (2020)

AUD102,000 x 21% up = AUD123,420 (2021)

AUD123,420 x 2.7% up = AUD126,752 (2022)

AUD126,752 x 9.3% down = AUD114,964 (2023)

Generally, prices are up by 14% versus 2020 or around 3% per year. I am okay with such an increase for my property because it’s still a big amount of money in terms of capital appreciation. If you are also happy with it, now you know why Australians love to buy properties. Happy knowing.

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Predictions on property bubble burst date

It may happen within the next few months or it may happen in a few years.  If it does not happen within 2 years,  it will happen within five years.  If it does not happen within five years it will happen someday.  Familiar? Property investment experts / analysts, property related NGOs, your cash rich friends and more. Everyone has said something about what they think of the property bubble. Some way too optimistic which you should not believe. Yet, some are way too pessimistic that if you believe then it should be the next economic crisis.

Everyone has their own version and reasons why. Many followed blindly and either become very rich or bought at the wrong time. Worst, some used up all their wealth because their friends say go and buy. ‘I have earned 100,000 profit just by flipping. Follow me sure no wrong!’ Dear all, investing in property should be done when you understand what you are investing. Read books, pay for some seminars, listen to talks but you must do your homework. Even when you invest in unit trusts, there are great years and there are ‘below FD rate ‘ years. If you do not know for sure why you buy, you better not buy.

When property prices go up too fast, it means the demand becomes an artificial one. As soon as sentiment turns negative, the prices are not sustainable because majority of the purchasers are not for own stay but for flipping / speculating. This was what happened in US a few years back and there are signs of it happening here in Malaysia too, especially for higher priced properties. No matter how much you have earned in the market, it is important never to over leverage. If EVERY SINGLE friend in your circle is telling you about buying properties, just like when uncles and aunties talking about stocks in the market, it may be time to pull out. As for demand, it continues to be strong. At the right price, it will be snapped up almost immediately.

Written on 18 Dec 2013

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Premium due to ‘next to’ MRT station? Here are some thoughts.

Should we pay premium then for developments which are next to LRT / MRT stations then? Answer is Yes because they do deserve some premium over developments which are further away. Oh yeah, it’s definitely not wise to buy if the rental is no longer able to cover the monthly mortgage yeah. There’s a limit to how much rental people are willing to pay just because the property is next to a MRT station. Plus… every new development which is not out of the city centre would usually be nearby or next to a LRT / MRT station nowadays. How much is that ‘extra?’

Parking cost, petrol price vs the extra property price
 – If we have to park our car nearby the station to take the train and the parking fee is RM5 per day, that will be around RM110 per month.We assume the petrol cost to be RM2.50 / day. This will be RM55 per month. 1 litre of fuel is enough for 10km of drive. For many cars of 1.5 litre or below, they could usually drive up to 15km depending on traffic situation. In this case, when we turn the RM110 + RM55 to mortgage payment per month, we could decide to pay an extra RM36,000 for that property which is connected to the MRT station instead of buying one which is further away and we need to drive and park. Image showing the calculation.

Time / convenience?
 – Money aside, many would prefer to wake up at 730am instead of 630am. If it’s within walking distance, 730am is good enough as we could be at the station by 8am.  If we need to drive, then perhaps starting at 7am is better so that we are not stuck in a jam. How do we value this extra 1 hour for 22 days every month? That’s something we have to decide yeah. If it’s RM5 per extra hour every working day, that’s RM110 per month and this amount alone is worth another RM22,000 in property price. Perhaps a senior manager may want to put this extra hour as something worth RM10? Then, that’s an extra RM44,000 in property price.

Future potential? –
Once all the land beside these MRT / LRT stations are fully developed, new developments would need to be built further away. Depending on the prices which these new developments further away could be priced, this will help to push the developments within walking distance to rise. Remember though that we should be guided by monthly rental. No point in buying a property within walking distance to the train station but the rental is not able to cover the monthly mortgage.

Buy with full due diligence. Properties within walking distance to the train station is NOT necessarily the best buy unless they are also near to other amenities such as schools, banks, offices etc. It is also NOT necessarily the best buy unless it’s accompanied by good design, workmanship and even maintenance. After all,
maintenance is the actual key to property price appreciation.
Last but not least, it is NOT the best buy if the price is simply too high. This is not a selection of ‘how near to the train station.’ The distance and the convenience is ultimately just one of the considerations. Happy evaluating.

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written on 29th November 2018

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My project is XXX metres from the LRT station? Here’s one 6 metres away

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Premium on top of premium is not wise

Today, when we buy a new home, we hope to maximise the value of our purchase. For example, some developers may provide some additional renovations package free of charge. Some would provide a few air-conditioner units free of charge. Some may provide rebates, like what my friend got when he bought a condo unit in Old Klang Road just days ago. Question, are people willing to pay premium on top of premium? What do I mean? Well, everyone is now thinking of buying at locations where MRT stations would be situated. It’s going to be very convenient. I agree. Therefore, they are willing to pay premiums of say additional 10-15 percent extra for this ‘future’ convenient.

This is where the next question would come. Assuming you are paying this 10 – 15 percent premium, do you think the next buyer would then be willing to pay another 10-15 percent extra premium on top of the premium that you are paying? Haha. I hope everyone starts to understand that affordability is a factor affecting majority of all buyers. Thus, for RM350psf to rise 10-15 percent when the unit is completed is acceptable and many could buy. Today, I have not heard of any new launches which is very nearby or connected to MRT being priced below RM500 psf.  Most of the time, it is higher because of the MRT factor. So, do everyone expect that this would increase to RM550psf or higher? At a time when we still have lots of choices in the secondary market?

Buying for own stay is definitely okay. This is because YOU are the one enjoying this convenience. Plus, all studies have shown that prices for the condos nearby MRTs always increase in price compared to those further away. I have however not read of studies which showed that these units would still be favourite when the next buyer has to pay premiums on top of the premiums that the original buyer has paid. I am sure that I am not going to be happy if I have to pay additional 25 – 30 percent for the final price from the original price. What about you? Happy deciding.

written on 25 July 2015

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Why property prices would fall, my view

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What if all the ‘cheap’ goods are sold out?

I think many have read this article earlier.
Johor Premium Outlet again, after 3.5 years.Still good.
 Premium outlets should be what it says. Luxury brands which has new stocks coming and thus would sell it’s older inventories at a lower price. In some countries where space is a luxury, we can even notice their clearance sales are not just cheap but crazily cheap. Do try out Hong Kong during their summer sale. It’s about to start soon. I once bought a business jacket with a matching long pants in Hong Kong for just RM199. Anyway, I think many Malaysians are brand conscious but less ‘seasonal conscious.’ As long as the brand is a luxury one, who cares if it’s last or two seasons back? Okay, okay, some readers of kopiandproperty.com may only want the latest season ones. Thus this article may not be for you. In fact it may be less relevant to those from Johor too. The GPO has opened. GPO is Genting Premium Outlet. Just like JPO is Johor Premium Outlet.

Image Source:
https://premiumoutlets.com.my

There are many articles about the opening of Genting Highlands Premium Outlet. One of it is here.
TheStar: Premium Outlet Opens in Genting.
What are some of the brands that I personally regard highly of? (From their advertisements, not because I own some pieces from them). Charles & Keith, Coach, Guess, Hugo Boss, Timberland, Camel Active, Geox, Obermain, Braun Buffel, Tumi and many more!
Here’s the full list.
So hurry up because usually the sales at the opening tend to be exceptionally awesome because they want everyone to spread the words. In the article, it says that Genting Highland draws about 20 million visitors annually. (This is a very good number. Hey, if you think this is going to be very successful, can also think about buying Genting stocks.)  It is a joint venture between Genting Plantations Bhd and Premium Outlets, the outlet division of Simon Property Group. 50:50 basis. It opens daily from 10am to 10pm. At this moment, I do not think I will be visiting it in June. July is a possibility. We shall see.

Branded goods are great. Branded luxury goods at huge discounts would be a specially great proposition. I think these outlets will become even more common because there are so many luxury brands which are competing for a slice of the market today. There’s no way that every brand can sell everything they produce. In fact when we look at the consolidation of many of these luxury brands, we would understand that business is tough. Take advantage of the fact that GPO is just 50 minutes from KL downtown. It’s possible to just drive up, buy a nice handbag for your wife and gift it to her during your anniversary dinner. She would rate your effort as 5-Star. That handbag that you bought her? I think she should rate it 6-star instead? Haha. Anyway, happy shopping. Just
 don’t spend every bit of money we have on buying stuffs.

Cheers.

written on 17 June 2017

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Working people, preparation before your loan application.

You have decided that property is an asset you want to have. Superb.  You have started to count your down-payment and estimating when will be the time you will actually buy.  Excellent.  You already have the area and the type of property possibilities.  Great. Now, have you prepared in advance for this new journey as a home owner or a landlord?

What could be done in advance to ensure you have the best chance of getting your loan approved? Perhaps 6 months in advance? Here are some key things yeah. Most of it has to be done in advance and not just before you apply for your home loan. That would have been too late.

Are you CONFIRMED?
 Having a job is great but has the company actually confirmed you? The confirmation has to be in writing yeah and not just verbal.  The banks would need a proof of documentation for that. It’s safe to say that if you intend to apply for a loan, better not switch jobs and thus having the situation of not having been confirmed in your new job prior to applying for a loan.

Is your EPF contribution in order?
  This part is not for the bank to tell you that your employer has not cheated you.  This part is for the bank to understand if you really are working with a proper employer and thus has the stability in income. Of course, when you do this checking, you also get to know if the employer is really paying into your EPF account or they did not!
Here’s a good reference in case they (the employer) really did not pay…

Salary slip = bank statement?
 Banks just want to ensure there’s no fraud elements.  So, if your salary slips says RM8,888.88 then your bank statement on the date the salary is credited should be RM8,888.88 lah.  It should not have RM8,888.66 for example. Perhaps it’s a genuine mistake but it’s super important to tally your salary slip to your bank transaction slips yeah. Not a small matter to ignore at all!

Have you paid your income tax?
  You can say you have earned $$$$.  However, if you have NOT been paying your income tax, then there’s no record and this does not look good on you at all. A good friend who’s just starting his job has earned over RM3,000 per month for the last 1 year. He did not submit his tax because he believed he will not be taxed anyway. Bad idea. His home loan was rejected even though he showed his over RM3k pay slips to the bank.

Timeliness in paying your other commitments.
Banks feel insecure if they could see that you are occasionally late when paying for your commitments.  For example, when they look at your payment for your Hire-Purchase. (Yes, your favourite car!).  You may think late by a few days is fine. The bank would not tow away your car anyway.  Wrong. This gives a very bad signal to the bank when they want to decide on your home loan. What if you do the same for your home loan?

How many credit cards do you have anyway?
 If you have always been paying in full every month for all your credit cards, you will be just fine. You are considered a good boy / girl. However, if your credit card limit (total for all cards) is RM100,000 and you are already nearing the limit which meant that just paying interest alone, you are now paying up to RM1,500 per month, then this will be included into the calculation for your home loan too. With this added, it may just burst your Debt Service Ratio (DSR) and there goes your application into the rejected folder.

Fixed Deposits will come in handy or at least healthy bank balances.
 Yes, if you have Fixed Deposits which has been around for some time with the same bank that you are applying for the home loan, the chances of you getting the approval is higher, even if you are at the DSR borderline. It’s very important to ensure you have money in and money out and your balance is always healthy yeah. Banks love to see you being good with money…

Pre-Approval is possible these days.
Just ask your friendly banker or your real estate negotiator friend for this Pre-Approval thingy. If they do not know, something is wrong with them yeah.  Please change!   However, if you like to at least know where you stand,
then you can check it out here: loanstreet.com.my
 . Sample as below.

Fill up, Check and Check Again before submitting.
The good thing about a friendly banker is that they will help us to check and check and check before they send it up for approval. However, some may not be that friendly and if some documents are missing, then your home loan application may need to be resubmitted or even rejected. So, it’s important for us to know what are all the documentations necessary and tick it out one by one and make sure we have all in place prior to submission.

Now… you wait for the home loan approval and that day when you get the keys to your new home, the feeling will be amazing. Haha. I still remember I told my wife, ‘Hey, our own home!’ That was in 2003. Yea, super long time ago. Haha. Anyway the property investment journey has been a wonderful one for me.  I could not say that everything was smooth but slow and steady could be a good description for it. My advice?  Start this journey and you will soon enjoy it after a while. Do not be too afraid about the timing. Be more afraid of buying the wrong property instead. Remember yeah,
 heavy discount and low price are two different things altogether.

Cheers.

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Prepare today, tomorrow is too late

A survey from the Chinese University of Hong Kong Jockey Club Institute of Ageing showed that the elderly population of Hong Kong ranks in the bottom three of the world for poverty. Out of 97 countries, Hong Kong was ranked 60th for income security, 95th on poverty and 91st on welfare. Yet, in terms of gross domestic product (GDP) per capita, Hong Kong was ranked second. Second richest on per capita GDP but 3rd worst for poverty. I could not find a similar survey for Malaysia but I do not think anyone wants to be in the statistics whenever it concerns poverty.

This is not something out of the ordinary. The reason is simple, when the economy grows, it would inevitably leave some of the poorer population behind. In this case, the
older population suffers the most
. This refers to the older population of today, for which education may not have been accessible then. Of course, it’s easy to ask why their children were not taking care of them but truth is, everyone has their own financial issues. This brings us back to the question of, who should be responsible to ensure these older population who has given so much to the nation a better life. I think the first answer should be the government. For this, there are lots of NGOs who can continue to give pressure to the government. The second answer is us. Yes, you and me. We better be prepared too and not just think everything should be okay.

According to the study, one major reason why the elderly faced such a situation is because their
 education level is lower.
 This meant that even when they had a job, their income is relatively lower too. In Malaysia today, generally, a fresh graduate may earn salaries of above RM2,000 which majority said is too low. Well, someone without qualification may only be earning RM800 or lower per month. Most of the time, the position is rather stagnant and when this has gone on for some time, the savings is just not enough. Does it mean however the higher the salary, the less likely that the person would retire in poverty?

To be honest, even if someone were to earn RM10,000 today, it may still not be enough buy the time
they retire IF their expenditures
 also rose in tandem with their salary. To force everyone not to spend is futile. No one would listen. However, what about getting a property? An affordable one, within one’s budget? Surely this should be something which is possible. Everyone should be encouraged to own a property because it should have been fully repaid by the time we retire. By then, when money is needed, the property can be sold off. Yes, it might just be the usual RM350,000 secondary property today but it would easily be RM600,000 – RM700,000 30 years later. By then, sell it. It would be enough to cover majority of the usual living expenses. Be real, the one who should be well prepared should be us. Any other extras, from our children, from the government, from the NGOs would be a great plus. Wishing everyone a comfortable retirement in future.

written on 19 July 2015

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Press Release by estate123.com – Now in 3 languages.

This is a Press Release by
estate123.com
 as the first Malaysian property portal to offer English, BM and Chinese language options.

I believe every website in Malaysia should strive to be multi-lingual. So, the below news should serve as a reminder to all other property portals that dual-language mode may no longer be enough. Time to change for the better. All the best
estate123.com

— Start —

PETALING JAYA: Following the successful launch of its Bahasa Malaysia language option last year, Estate123.com has once again paved the way by introducing a Chinese language option in its website for users.

Estate123.com is the
first property portal in Malaysia to offer three language options
: English, Bahasa Malaysia (BM) and Chinese (??). The Estate123.com team realised the importance of providing alternative language options for users, after receiving positive user feedback and noting increased traffic for its Bahasa Malaysia-language site. The Bahasa Malaysia version of Estate123.com now makes up about 20% of the website’s traffic, one year after its launch, proving that there is demand for more language options when it comes to local property websites. Estate123.com’s aim is to cater to as many groups as possible so that everyone can easily browse, search and list properties in Malaysia.

In addition, the Chinese language website will open Estate123.com’s users to both
local and international property investment opportunities
. A Chinese-language property website will appeal to the Chinese-speaking community, thus further widening Estate123.com’s reach to real estate agents, negotiators, agencies, buyers, and renters in Malaysia who
prefer to use Chinese as a medium to communicate and conduct business
. Besides that, Estate123.com will be able to capitalise on its Chinese-language proficiency to provide local investors with more overseas property opportunities, as well as allow overseas investors from Chinese-speaking countries to explore property investment opportunities in Malaysia.

Estate123.com is continuously improving and innovating its website and mobile apps to offer visitors a user-friendly property search experience. Although the search language is still primarily in English, the Chinese version website will allow users who prefer reading Chinese to easily navigate the Estate123.com website and find their desired commercial or residential property.

The Estate123.com Chinese website can be accessed via
www.estate123.com/cn
 or the language toggle function at the top right corner of the Estate123.com website. For more information, visit
www.estate123.com
 or contact us at
03-7722 2035
.

— End —

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Press Release: 5 Things You Didn’t Know About SEREMBAN 2

Seremban 2 by IJM Land is a thriving self-contained township with a tight-knit community located in Negeri Sembilan. Spanning over 1537 ha of land, the township is currently home to a population of more than 62,000 people. In conjunction with its 25
th
 anniversary celebration in 2020, IJM Land is looking back at how their continuous planning and development over the decades have impacted the lives of their residents within their award-winning township.

Here are the five facts you might not know about Seremban 2:

Once a barren agricultural land

Compared to many other thriving townships, Seremban 2 is comparably young. However, it has seen major developmental transformations over the span of more than two decades that is still ongoing to this day.

Just 25 years ago, the landscape upon which Seremban 2 sits was a barren parcel of agricultural land with very little value appreciation in the local property market. When IJM Land stepped in during 1995, the transformation started, and in no time, Seremban 2 was formed. Slowly but surely, the township became more integrated, harmonised and sustainable.

Homebuyers became attracted to the scene which was filled with a new vibrancy which brought along job opportunities and social services. It has now become the most progressive township in the state of Negeri Sembilan and serves as the southern gateway to the Klang Valley.

A haven for foodies

While Seremban is known for its long-standing specialty delicacies from different traditions and cultures, Seremban 2 is also no stranger to food lovers from in and around the township.

Younger crowds who are into the latest food hypes will find the township a haven filled with Instagrammable cafes to indulge in premium coffee drinks and snack on light bites, all these after snapping flatlays of their dining tables and updating them on social media.

Bubble tea lovers can also get their routine fix at multiple bubble tea outlets in the township including the The Alley, Raion and Daboba. For those who prefer the classics, Tealive and Gong Cha are nearby too!

As for cuisines, Seremban 2 offers a multitude of choices ranging from asian selections such as Thai, Chinese, Korean and Japanese to western favourites like Italian, assuring there’s something for everyone.

Staying connected

While many Malaysians have to endure a long travel time besides paying numerous tolls to the Kuala Lumpur International Airports, residents in Seremban 2 can utilize a toll free road that connects the township to KLIA and KLIA 2 which are about 30 km in distance within 40 minutes of travel.

Besides the toll free road, Seremban 2 also provides connectivity and accessibility through a series of well-networked expressways for its residents. For instance, the township is in close proximity to the North-South Highway, ELITE and LEKAS highways that provide quick access from the township to central destinations such as Kuala Lumpur, Putrajaya and Cyberjaya.

The naturally strategic township location also provides quick and easy access to major expressways linking residents to key southern cities of Melaka and Johor Bahru.

An escape from Klang Valley

Currently at 70% completion and is expected to house 100,000 residents upon maturity, Seremban 2 has seen an increase in demand for properties from Klang Valley homebuyers. At present, 20% of their total residents originated from the greater Klang Valley area, and the numbers have been increasing steadily by the year as people are seeking to enjoy lower living cost and a balanced lifestyle.

Due to a shift in lifestyle priority especially for modern families, the younger generations are pursuing more conducive and tranquil living environments to raise their families. As a result, many Seremban 2 residents have chosen to make the township their homes while commuting daily to Kuala Lumpur for work and school, which is eased by the accessibility and connectivity of the township to other locations.

Unrivalled collection of green spaces and Dinosaur Park

Recreational facilities are some of the biggest highlights of Seremban 2. In fostering healthy community-centric activities, the township features 45 acres of dedicated park space sprawled with family-friendly facilities and recreational amenities.

The total park space is divided between the 15-acre S2 City Park and the 30-acre Hill Park. On any day, S2 City Park can be seen filled with community members enjoying their favourite leisure activities. The centrepiece of the park is the massive 4-acre lake, which provides not only an idyllic and peaceful sense to the park and offers a beautiful setting for gazebos and picnics, but also serves to cool the surroundings as well!

The 30-acre Hill Park has its own nickname – Dinosaur Park. This park is a hit among young children along with their parents as it features a mini dinosaur park complete with numerous dinosaur sculptures and features which were built to ignite children’s curiosity about the prehistoric world. At 400-feet above sea level, the Dinosaur Park is definitely a stimulating hang-out spot for families offering panoramic views of the entire Seremban 2 township.

For over 25 years, IJM Land has developed the Seremban 2 township to foster a close-knit community that enjoys a carefree and healthy lifestyle. Hence, when homebuyers become a part of Seremban 2, they don’t just buy a house, but they are buying an entire township!

During these challenging times, owning a place where one can call home is more important than ever. Hence, Seremban 2 by IJM Land wants to help homebuyers own their dream home and enjoy a relaxing township lifestyle by offering amazing deals for two of their developments – Rimbun Alam and Rimbun Impian.

To provide a helping hand for homebuyers, IJM Land is giving their customers RM 1,000 every month until vacant possession to help ease their journey to purchasing their dream home.

Besides that, there will be no legal fees, stamp duty and even downpayment required, promising homebuyers a hassle-free and easy home-ownership plan.

To find out more about this promotion, visit IJM Land’s
website
 today!

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

–End of Press Release —

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Press Release by IOI Properties. Q2 Revenue Jumps 34% to RM1,195 million

Press Release by IOI Properties Group Berhad for Q2 Revenue.

IOI Properties Group Berhad (“IOIPG”), a leading property player with an impressive business portfolio in Malaysia as well as in Singapore and China, posted a strong set of results for the current quarter ended 31 December 2016. The Group’s Q2 revenue jumped 34% to RM1,194.7 million from RM894.4 million in the same quarter of the preceding year. The Group saw a 23% hike in operating profit of RM393.6 million for the current quarter as compared to the preceding year corresponding quarter. The Group’s increase in revenue and operating profit is contributed by its property development, property investment and leisure & hospitality business segments.

The Group’s property development segment revenue rose 36% to RM1,068.3 million and achieved an operating profit of RM337.5 million, an increase of 23% as compared to the same quarter a year ago. The increase in both revenue and operating profit reflects the higher sales take-up rates for its projects in Singapore as well as favourable take-up rates from projects in IOI Resort City Putrajaya, 16 Sierra and Bandar Puteri Bangi.

In property investment, the Group saw an increase in revenue of 12% from RM69.0 million to RM77.5 million and a 17% increase in operating profit from RM37.7 million to RM43.9 million. This was achieved with the increase of average occupancy rates and upward rate revision from tenancy renewal of IOI City Mall which has contributed vastly to the Group’s property investment segment. The strategic locations of the Group’s retail and office developments within matured townships and high growth corridors have enabled the Group’s investment portfolio to enjoy healthy occupancy rates and rental yields.

Meanwhile, the Group’s leisure and hospitality segment posted a 24% hike in revenue to RM47.5 million and a 44% hike in operating profit to RM11.1 million; with the increase in revenue mainly derived from its collection of world-class renowned hotels namely Four Points by Sheraton, Puchong and Le Meridien Putrajaya, with the latter commencing its business operations in August 2016. The Group’s current year to date revenue rose 41% to RM2,094.2 million while operating profit jumped 25% to RM664.0 million compared to its preceding year corresponding period.

IOIPG Chief Executive Officer Lee Yeow Seng said, “The demand for properties within wellplanned and sustainable developments will continue to be supported by a young population demographic, conducive interest rate environment and urbanization. The Group’s property development segment is set to contribute positively to its performance evidenced by the demand for mid-priced range properties located at IOI Resort City, Bandar Puteri Bangi and Warisan Puteri @ Sepang with accessibility to good amenities.” “In the international front, the Group’s performance has proven that it is on the right track with development projects in Singapore and Xiamen progressing well; and are expected to continue contributing positively to the Group’s results,” he said.
“With our sizable land bank in strategic locations, a good delivery track record and our ability to adapt to market demand, the Group is expected to perform well in the remaining financial period,” added Lee Yeow Seng.

— End of Press Release —

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Press Release by Maxx Media (S) Sdn. Bhd. (PropertyHunter.com.my)

Press Release by Maxx Media, the holding company of
propertyhunter.com.my
 (Number 1 property site in East Malaysia).
It has achieved the MSC status. Congratulations Michael and team! This is one team whom I got to know a few years ago. They work really hard and is always improving every year. In the recent Kota Kinabalu expo, my friend who attended the event said it was well organised and crowd is considered good. She is a Sales Manager for a public listed developer. Congratulations again. Keep up the good work.

— start —

6
th
 March 2017
 – Today marks another chapter for Maxx Media (S) Sdn. Bhd., as they were awarded the prestigious MSC status by the government body, Multimedia Development Corporation (MDeC) – a title that is significant for ICT and ICT-facilitated businesses that use multimedia technologies.

Maxx Media (S) is the holding company for Property Hunter, a brand that is synonymous with property related media and events in East Malaysia. Only five years old, this is another milestone for the company as they are shifting towards becoming a fully-integrated IT company and is the first, fully-owned Sabahan company to receive such status.  Caleb Tseu, IT Director of the company said, “We are one of the very few startup companies in Sabah that focus on IT, big data and mobile app development.”

“ICT is now the backbone of every business, with social media, mobile app, big data and the cloud
disrupting
the way businesses run. Companies that have gone, or are en route towards digital will have an advantage against others. Currently, we are partly a publishing company, but it’s only a matter of time before we turn into a fully IT company.” he said.

On Tuesday, the 2
nd
 of March, Maxx Media (S) made a courtesy visit to Datuk Bruno Vun, Permanent Secretary at the Ministry of Resource Development & Information Technology to inform him of the company’s achievement in receiving the MSC status and to brief him on their IT development.

“The journey is never easy and despite all the difficulties and challenges, Maxx Media (S) has worked very hard and has taken the necessary steps towards achieving the MSC status. This is something that other companies in Sabah should emulate,” said Datuk Bruno Vun.

Property Hunter’s web portal was launched in 2013
 and was the first Sabah property portal to offer property listings for free. Agents have benefitted greatly from this and within a year’s time, they have attracted the highest number of Sabah property listings in Malaysia, surpassing other property websites nationwide.

In January, this year, Maxx Media (S) launched the long-awaited
Property Hunter Mobile App
. With the app, property listing and searching are made even simpler.

Some of the new features of the app include the QR code feature, whereby, users of the app can enter any of the PH expos and events without having to wait in line to register manually at the registration desk. One exciting feature of the app is the PH Rewards section. Users get exclusive offers and discounts from any of the participating merchants, such as Adelphi & Co., Vino Vino, Tong Hing supermarket and many others.

Right now, anyone can stand a chance to win an iPhone 7 when they download the Property Hunter App until the 30
th
 of June 2017. It is available on both iOS and Android.

-END-Maxx

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Press Release – Cyberjaya Hospital to be built by Gadang Engineering (M) Sdn Bhd

Usually, a private hospital is a great addition to any development. It gives that exclusivity feeling and helps to elevate the status of that development. To me, a public hospital is going to benefit more people. More Malaysians need help and more doctors need jobs too. 🙂   Of course, it would be great to have newer and more modern looking ones. By the way, just to share, the Ipoh General Hospital saved my late grandmother when the private hospital has given up. She lived a few more happy years after that ‘rescue.’ Looking forward to Cyberjaya Hospital completion in the future.

Press Release by Cyberview Sdn Bhd –
Cyberview Sdn Bhd Confirms Appointment of Gadang Engineering (M) Sdn Bhd to Build Cyberjaya Hospital

RM475 million facility to complement Cyberjaya’s offerings as a Global Tech Hub

CYBERJAYA – 11 August 2017 –
Cyberview Sdn Bhd has today confirmed the appointment of Gadang Engineering (M) Sdn Bhd, a subsidiary of Gadang Holdings Bhd as the principal contractor for the Cyberjaya Hospital. The appointment concludes a comprehensive tender process. The process saw 29 companies participating in a prequalification exercise which ultimately resulted in the selection of Gadang Engineering for the project.

“Earlier this year, Cyberjaya celebrated its 20 year journey of transformation into a Global Tech Hub and critical contributor to Malaysia’s economy. As we look towards elevating Cyberjaya’s offerings, we remain fully committed to ensuring that Cyberjaya continues to meet the evolving needs of our communities including through the provision of state of the art facilities and infrastructure like the Cyberjaya Hospital,” said Mohd Najib Ibrahim, Acting Managing Director, Cyberview Sdn Bhd.

The hospital will span over 12 acres with a total contract value of RM475 million. The 288-bed facility will be located in the vicinity of Gem In Mall and is expected to serve not only the residents of Cyberjaya but also those in Puchong, Dengkil, and Sepang. The 9 storey hospital will be served by an 8 storey multi-level car park (with a total of 965 parking bays).

In addition to that, the hospital is also designed in compliance with the Green Building Index certification standards for sustainability – boasting design features (including optimal solar orientation and solar energy harvesting technology) that facilitate eco-friendly, energy efficient operation. Upon its expected completion in 2020, the Cyberjaya Hospital will cater to a wider market by adding to the network of public hospitals in Selangor. This will also help reduce congestion at public hospitals in neighbouring Putrajaya and Sepang district.

“As one of several key contributors to Cyberjaya’s future as a Global Tech Hub, it is critical that the Cyberjaya Hospital be developed by a partner capable of delivering the project in ways that meets Cyberjaya’s Smart City infrastructural standards. These standards include excellence in energy efficiency and sustainability, amongst other things. The hospital should also have the capacity to scale for evolving technologies and we are fully confident in Gadang Engineering’s ability to deliver against these expectations,” said Ahmad Faizul Ramli, Head of Project Management Division, Cyberview Sdn Bhd.

The public hospital is one of Cyberjaya’s many upcoming developments to further the city’s offerings, which is inclusive of the 11 major announcements made by Prime Minister Datuk Seri Najib Tun Razak at Cyberjaya’s 20
th
 year anniversary celebration in May this year. The announcements, which include the establishment of an R&D and Innovation hub as well as a regional centre for big data projects, aim to catalyse strategic collaborations and accelerate Cyberjaya’s offerings as a Smart City and a Living Lab for innovations across its infrastructure, economy, sustainability and social elements.

— end of press release —

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Press Release: Deloitte 2020 insurance outlook- Insurers adapt to grow in a volatile economy

Despite turbulence in the global economy, the insurance industry remains resilient by continuing to generate growth around the world and maintaining overall profitability.

According to the Life Insurance Association of Malaysia (LIAM), force premiums in Malaysia are experiencing growth. With this positive outlook on premiums, economists suggest that Malaysia will be making forward progress as trade tensions and monetary policies ease concurrently.  “Although we are observing growth, any additional developments will still likely require additional effort by the insurance industry to accommodate looming consumer needs,” said Justin Ong, Financial and Regulatory Risk Leader, Deloitte Malaysia. “Insurers should put an emphasis on how to grow their companies, run it more efficiently and productively or meet rising regulatory compliance demands. Insurers should also consider how to reposition themselves for success throughout the next decade to adapt to changes in consumer purchasing preferences, property use, and work habits,” he added.

Looking ahead to 2020 and beyond
While most insurers are focused on seeking expense efficiencies, most also keep investing  proactively. More insurers are also looking to bolster core systems, add capabilities, and enhance customer experience through artificial intelligence (AI), digitisation, new sales platforms, alternative product development, and other innovations. Many are beginning to pivot from investments to support business as usual to financing innovations facilitating more fundamental business model changes.

Growing the insurer
Consumers have often been hesitant to buy annuities due to concerns about associated fees and potential surrender charges, the product’s complexity, and complicated tax rules, as well as fear that if the insurance company behind the annuity goes under, the guaranteed income stream could vanish. Annuity providers should take into account the ways to simplify and rebrand retirement products, enhance the sales process, as well as improve public perception of the value proposition versus investment alternatives so more will opt in if given the chance. he products and sales process should be revised, to better meet consumer needs.

Eliminating consumer skepticisms is one of the ways to grow an insurer. For example, insurers could repackage annuity products by embedding more flexibility and liquidity, giving customers better control of their investment. Putting annuity features within managed accounts and building glide paths within the products to gradually shift to annuitisation may also help increase their appeal. Customer relationship management efforts should be facilitating a more mature set of capabilities for sales management, both in terms of direct-to-customer sales, as well as for producers. They should also be enhancing post-purchase efforts, including upselling and cross- selling, while adding ancillary services.

Running the insurer
With a preference for the technology industry, a generally negative perception about working in insurance, and lack of knowledge about how the industry functions, only 4 percent of millennials are interested in working for the insurance industry. With the Fourth Industrial Revolution sweeping the globe, digital transformation has changed the nature of work in the industry, as well as talent needs. In underwriting and claims, for example, there is a growing demand for those with higher-level skills and a more entrepreneurial mindset to get the most out of analytics, AI, and other advanced technologies. At the same time, insurers are being challenged to become more flexible by offering alternative staffing opportunities. Insurers will need to step up efforts to raise awareness about potential insurance careers among students and young job seekers, particularly through social media. To attract Gen Z, carriers should also work with universities to spotlight the industry’s technological evolution.

Regulating the insurer
As insurers increasingly step outside their infrastructure borders, they are more exposed to cybersecurity risks. Cyber risks are also rising with expanded use of connected devices, forcing insurers to defend against attacks. While technology helps insurers better engage with customers and enable new products and service capabilities, they can make it more difficult for the cybersecurity function to keep pace. Meanwhile, as insurers up their own games with AI, they should be aware their adversaries are likely taking advantage of the same advanced technologies to discover new vulnerabilities and propagate malware to exploit them. Looking ahead, the rise of quantum computing and 5G capabilities could exacerbate cyber threats considerably. To combat these potential cyber threats, insurers should be incorporating cybersecurity into development of new systems, applications, and products right from the get-go. Insurers must also ensure regular patchwork for existing infrastructure, systems, and applications.

–End Of Press Release–

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Press release: Desa ParkCity- How It Became The Most Desirable Township in KL

Similar to the history of Kuala Lumpur itself, the 473-acre Desa ParkCity (DPC) emerged out of a barren mine to becoming the city’s first-ever new and popular urbanist township. First unveiled in 2002, the township first made its mark through its innovative placemaking, housing concepts and designs. Now almost two decades later, award-winning developer ParkCity Group shows no signs  of stopping from strengthening DPC’s legacy as one of the most sought-after places for Malaysians to call home.

Currently home to a population of 16,500 residents, DPC has sold more than 4,000 homes which include landed and high-rise residential properties, and also 520 commercial parcels in Plaza  Arkadia, a hybrid mixed-use development. As a bustling and ever-growing community hub, the township continues to be a prime attraction to modern homebuyers and neighbouring communities. This is mainly due to the successful application of 5 pillars within their township development – family, community, convenience, neighbourhood and connectivity.

1. Once a barren quarry land
Not many know this, but the beautiful Desa ParkCity (DPC) facade was once an active quarry mine. When ParkCity Group began developing the area in 1999, the planning, design and construction of this popular township was challenging mainly due to poor soil condition and the presence of granite.

However, as proven by its success today, it has become one of the most connected townships in Kuala Lumpur. Evidently through The Waterfront and Plaza Arkadia, connectivity is hardly a barrier for the well-planned township that provides easy access between homes, shops and park.

Above all, DPC also fulfils the connectivity factor as it is strategically located between Petaling Jaya and Mont Kiara, with Kuala Lumpur City Centre just 15 km away. Those from other towns can easily access DPC through several major highways including Duta-Ulu Klang Expressway, Damansara-Puchong Highway and the New Klang Valley Expressway. With the nearby Mass Rapid Transit Line 2 expected to be operational in 2021, accessibility in and out for residents will be further enhanced.

2. A thriving environment for families to grow
One of the most defining DPC features is none other than the lively and pet-friendly Central Park. At any day of the week upon sunrise or sunset, the park is greeted with a frenzy of activities by family members of all ages. In their effort to redefine spaces to accommodate to ever-changing lifestyles, ParkCity Group envisioned Central Park to be an ideal respite from the adversities of city life, and for it to be a place for families to come together and bond over picnics, peaceful walks, children’s playtime or even workouts.

The idyllic Central Lake at the core brings every aspect of the park together in offering a green and nature-centric haven spanning 40 football fields for residents and communities. Available park amenities for the use of every visitor include tree-lined wide jogging paths, walking pathways, child- proof children’s playground and iconic park benches.

Central Park’s uniqueness also stem from the wide array of plant species incorporated throughout its environment. These include over 125 tree species, 15 palm species, 54 shrub species and 10 aquatic species spread across the park.

3. Cultivating a close-knit community.

In ensuring that residents have an avenue for escape at the end of a stressful day, while also offering the opportunity to connect with other community members, The ParkCity Club is built with a wide selection of first-class facilities for relationship-building sports and relaxation activities.

Sports enthusiasts will find solace and bonding opportunities at the facilities that feature synthetic grass tennis courts and a multi-purpose hall with multiple badminton courts. Members who are into performative sports are free to utilize the multifunctional dance studio, aerobic and even yoga classes. At the end of a productive workout, the Olympic-length swimming pool becomes a perfect spot to cool down, unwind and relax.

4. Redefining convenience
Convenience is an undeniable factor to consider when it comes to property investment. In providing a life of convenience to residents with a variety of amenities and facilities readily available, DPC has The Waterfront, an iconic retail entertainment centre and Plaza Arkadia, a British colonial-style architecture “lifestyle destination” offering offices, SOHOs, and shops like restaurants, coffee bars and a supermarket.

With these two family-friendly lifestyle hubs, DPC residents have their basic daily necessities covered, enhancing its title of being a sustainable and self-contained township. Moreover, both these hubs also act as event spaces, hosting community events such as the farmers market at The Waterfront and weekend bazaars in both The Waterfront and Plaza Arkadia.

Speaking of a township surrounding that provides easy access and short distances to life’s necessities, DPC residents have the option to enroll their children at The International School @ ParkCity, an international school that caters to pupils of age 3-18, offering both primary and secondary education. In addition, homebuyers can also look to the ParkCity Medical Centre, which is part of the Ramsay Sime Darby Healthcare, for reliable state-of-the-art medical services or emergency-care.

5. What an exceptional township design looks like
Desa ParkCity’s township design has successfully positioned the developer as an innovator that cultivated a model lifestyle. For ParkCity Group, to develop a lively neighbourhood is to provide seamless opportunities to enjoy moments, inspiring togetherness and friendship among residents.

To fuel a vibrant neighbourhood, DPC has provided numerous property types that cater to different needs. They range from parkhomes, apartments, condominiums and bungalow lots, to parkfront condos, semi-detached homes, garden condos and regal park homes. These neighbourhoods are enhanced with meandering walkways, invigorating landscapes, waterparks and wonderful gathering spots – all to encourage interaction within the communities.

As witnessed, every single parcel of development in DPC is well-designed due to the effort of designers to work in tandem with architects in bringing great ideas to life while never forgetting the fundamentals of a home – to bring value for those who live in it.

Truly understanding homebuyers’ needs
As one of the most liveable townships in Kuala Lumpur, DPC will continue to dive into the needs of contemporary homebuyers’ lifestyle, especially after the Movement Control Order (MCO).

Moving forward, ParkCity will be launching an exciting development, Park Place, in Q3 of 2020. It will be the first-of-its-kind condo development set within ParkCity TownCenter.

Spanning over 4.55 acres, Park Place project will stand at 53 storeys high with a total of 537 units. Aiming to incorporate a fresh concept that includes public working space with each home without infringing on one’s home privacy, Park Place integrates post-MCO home features that accommodate a conducive stay-at-home experience. They are the high speed internet, gated and guarded security, good ventilation, substantial green areas and natural lighting.

With these features, Park Place is set to become an exciting high-rise living space offering a balanced and holistic lifestyle incorporating working, social and private spaces to the home. The architect behind this master-space is the multi-award winner Erik L’Heureux hailing from Pencil Office, in collaboration with PIA Interior, Thailand’s leading design studio with over 20 years of diverse experience.

“Desa ParkCity is well-known for its master-planned township and community, and we must maintain it so especially during these trying times. By following closely to our 5-pillar philosophy, we will continue to provide developments that can uplift the lives of our homebuyers and help them embrace the new normal,” said Datuk Joseph Lau, ParkCity Group CEO.

For more information on Desa ParkCity, visit
www.desaparkcity.com
.

— End of Press Release —

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Press Release: Far East Consortium (FEC) launches ‘Aspen’ at Consort Place, Canary Wharf, London

Far East Consortium (FEC) launches ‘Aspen’ at Consort Place, Canary Wharf, London

A remarkable new development set to reach new standards in comfort and design. Leading developer, Far East Consortium (FEC) is proud to launch Aspen, an exciting new lifestyle offering within Consort Place, which once complete in 2023, will sit proudly in Canary Wharf.

Aspen will offer a remarkable collection of studio, one, two and three-bedroom apartments, within an elegant 65 storey tower. The development will feature the Aspen Club which will include concierge services, a wellness and fitness suite, a business lounge and a glorious residents sky lounge at the very top.

Studio prices start from just £563,000 and Aspen will cost significantly less in terms of gross value and the price per sq ft (PSF) compared to other nearby residential towers in Canary Wharf. The vision for the scheme was developed by Pilbrow and Partners Architects where the curvature of the two towers at Consort Place were designed to maximise the development’s outstanding views of the River Thames as it snakes westward, and the sun’s natural light as it rises in the east.

The interiors at Aspen, designed by Hirsch Bedner Associates (HBA Residential), make use of warm, earth tones, comprising soft bronze and tactile copper, paying homage to the development’s eponymous aspen trees – a reflection of its seasonal changing colours.

All of the amenities in the development are designed with comfort, ease and community in mind. Beyond Aspen, across the new realm of Consort Place, there will be a 231-room four-star Dorsett hotel, an education facility and a health and community centre as well as a multitude of cafes and a restaurant to connect residents to the daily life of the local community.

Moreover, the historic and famous North Pole Pub is one of only a handful of pubs in the area which withstood the Blitz, and as befits the cultural significance of this local landmark, FEC is ensuring that it will be carefully restored.

Nick Poon, Head of Projects for FEC comments: “We are embracing the energy and optimism that comes with a new year, but also a new decade, and we are incredibly excited to now launch Aspen at Consort Place in Canary Wharf. We see this as more than a building project – it is an opportunity to build on our vision of bringing communities together and Aspen will offer the very best in living experiences for a range of modern lifestyles.

Poon adds, “It is certainly a striking beacon between the gleaming metropolis of Canary Wharf and the industrious heritage of the Docklands. It is anticipated that the tallest of Consort Place’s two towers, Aspen will become the third tallest residential building in Canary Wharf.”

Project Director for FEC, Bruno Almeida Santos, comments, “The formal launch of Aspen marks the start of our journey to completion in 2023 and setting out a vision for generations to come.” As an owner of a property in Aspen at Consort Place, a daily view will feature London landmarks such as the Thames Barrier and the O2 on the Greenwich Peninsula to the east, The Royal Naval College and Royal Observatory in Greenwich to the south and Tower Bridge, The Tower of London and the City of London to the west.

Dominic Heaton-Watson, Associate Director, International Residential, Knight Frank Malaysia, comments, “Today’s Canary Wharf has much more to it than a corporate metropolis – it has one of the largest shopping centres in London comprising a treasure trove of small boutiques, designer labels and much-loved brands. Whether in search of a tailor-made suit or that must have handbag, you’ll find a multitude of stores stretching across five vibrant malls. There are a wide variety of prestigious restaurants, as well as a plenitude of relaxed bars and cafes to suit every taste and time of day, alongside numerous parks, squares and waterside walks.”

Heaton-Watson adds, “Aspen at Consort Place also has a number of convenient transport links; Canary Wharf tube station is served by the Jubilee Line in zone 2, with the DLR services on its doorstep, whilst London City Airport is less than five miles away by car. Further still, there is the Thames Clipper river bus service, which departs every 20 minutes, visiting over 39 piers, and also the anticipated arrival of Crossrail. The forthcoming Elizabeth Line will allow commuters to reach Liverpool Street within seven minutes, Farringdon within nine minutes and Heathrow Terminal 1, 2 and 3 within thirty-nine minutes. This new tube line will provide fast access to Bond Street’s luxury boutiques, the shopper’s paradise that is Westfield Stratford, and of course, some of Europe’s largest corporate headquarters in Liverpool Street.”

— End of Press Release —

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Press Release: First virtual PropertyGuru Asia Property Awards (Malaysia) shortlist draws boldfaced names, unveils final nominees

PropertyGuru Asia Property Awards, the region’s most prestigious real estate awards programme, revealed today the shortlisted finalists for its Malaysian edition, which will mark its seventh year and first virtual gala event this month.

The most exemplary developers and projects in Malaysia have been selected for the 7th Annual PropertyGuru Asia Property Awards (Malaysia), set to be simulcast live worldwide via asiapropertyawards.com/newsroom and partner channels on Friday, 28 August 2020 at 1730-1900 hrs (Kuala Lumpur), including the virtual red carpet and virtual gala presentation.

Around 25 major names in property development have made the shortlist for the 2020 PropertyGuru Asia Property Awards (Malaysia). Ideal Property Group, Fieldman Construction Sdn Bhd, KLK Land, Matrix Concepts Group, Tanah Sutera Development Sdn Bhd, Tropicana Corporation Berhad, and UMLand, among other developers of repute around the peninsula and beyond, have been shortlisted for the newly expanded Developer categories and Special Recognition Awards.

Exemplary projects such as Tropicana Grandhill by Tropicana Corporation Berhad and Sierra Heights by Kemajuan Tong Tor Sdn Bhd, as well as companies like WCT Land Sdn Bhd, meanwhile garnered multiple nominations for this year’s awards.

This year, the Awards will recognise the nation’s Best Mega Township Developer, Best Lifestyle Developer, Best Industrial Developer, and Best Affordable Homes Developer as well as the most deserving recipients of special recognitions for ESG, Sustainable Construction, Sustainable Design, and Building Communities.

More: PropertyGuru Asia Property Awards 2020 launches the region’s first virtual gala series for real estate

The 2020 PropertyGuru Asia Property Awards (Malaysia) also marks a milestone in the programme’s 15-year history as Sarena Cheah, managing director of Sunway Berhad’s property division, is named recipient of the Malaysia Real Estate Personality of the Year title. This will make her the first woman to ever receive the honour in Malaysia.

An independent panel of expert judges arrived at the shortlist after a rigorous, ethical, fair, transparent judging process supervised by BDO Malaysia, led by Lu Yan Fen, Director, Audit and Pang Zhi Hao, Partner.

The judging panel comprises Awards chairperson Prem Kumar, Deputy Managing Director, Jones Lang Wootton; Blaine Robert, Creative Director/CEO, Blaine Robert Design Sdn. Bhd. and Blaine Robert Lifestyle Sdn. Bhd.; Boon Che Wee, Director, GRA Architects; Chris Tia, Principal, Tia & Noordin; Dr. Daniele Gambero, CEO, REI Group of Companies; Datuk Ar Hj Saiful Anuar Abdul Aziz, Principal, Arte Axis Design Group; Sr Low Han Hoe, Senior Manager, Investment, Nawawi Tie Leung Real Estate Consultants Sdn Bhd; Architect Mustapha Kamal Zulkarnain, Founder and Principal, Arkitek Mustapha Kamal; Sr. Engad Ravana, Principal of ER Consult; and Tan Hui Yin, Partner, Tan Chap & Associates; and Ir. Dr. Zulhkiple A. Bakar, Managing Director, Perunding ZNA.

Site inspections in North Malaysia were conducted under a team of judges that included Miichael Yeoh, CEO & Founder, GM Training Academy PLT; Ng Wee Kwong, Property Investor; Richard Oon Hock Chye, Executive Director, ShineWing TY TEOH Consulnet Tax Sdn. Bhd; and Charles Tan Chia Lih, Owner of kopiandproperty blog. Meanwhile, site inspections in South Malaysia were conducted by Lim Qun Kai, Designer, Founder, The Blue Creative; Ir. Dr. Justin Lai, Managing Director of IPM Group; and Law Lee Kiau, President, Johor Interior Designer Association.

The 7th PropertyGuru Asia Property Awards (Malaysia) 2020 is supported by platinum sponsor Kohler; official portal partner PropertyGuru.com.my; official magazine PropertyGuru Property Report; media partners Business Today, Kopi and Property, Malaysian Business, The Grid, and Top 10 of Malaysia; official PR partner Klareco Communications; official charity partner Right To Play; and official supervisor BDO.

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

SHORTLIST OF NOMINEES

7th PropertyGuru Asia Property Awards (Malaysia) 2020

DEVELOPER AWARDS

Best Developer

Winner to be announced at the virtual gala on 28 August 2020

Best Boutique Developer

Winner to be announced at the virtual gala on 28 August 2020

Best Mega Township Developer

KLK Land
Matrix Concepts Group
Tanah Sutera Development Sdn Bhd
Tropicana Corporation Berhad
UMLand

Best Lifestyle Developer

Winner to be announced at the virtual gala on 28 August 2020

Best Industrial Developer

Winner to be announced at the virtual gala on 28 August 2020

Best Affordable Homes Developer

Fieldman Construction Sdn Bhd
Ideal Property Group

DEVELOPMENT AWARDS

Best High End Condo Development (Central)

Tropicana Grandhill by Tropicana Corporation Berhad

Best Mid End Condo/Apartment Development (Central)

Waltz Residences by WCT Land Sdn Bhd

Best Mass Market Condo/Apartment Development (Central)

Horizon Suites by Horizon L&L Sdn Bhd
M Oscar by Mah Sing Group Berhad

Best Waterfront Development

Residensi AVA @ KIARA BAY by UEM Sunrise Berhad and Melati Ehsan Group

Best Luxury Landed Development

Anantara Desaru Coast Residences by Minor International and Themed Attractions Resorts & Hotels

Best Landed Development (Central)

Tropicana Aman – Dalia Residences by Tropicana Corporation Berhad

Best Cluster Brownfield Development (Central)

Karya Residensi by Selaman Sdn Bhd

Best Condo/Apartment Development (Southern)

AMBER HEIGHTS By UMLand Seri Alam
Paradigm Residence by WCT Land Sdn Bhd

Best High End Landed Development (Southern)

Mahligai @ Nusa Damai by Temokin Development Sdn. Bhd.
Sutera Ideal by Tanah Sutera Development Sdn Bhd

Best Mid End Landed Development (Southern)

Ayera Residences by Tropicana Danga Cove Sdn Bhd
D’Art 18 Collection III by PH World

Best Landed Development (Southern)

Sierra Heights (Daintree Residence) by Kemajuan Tong Tor Sdn Bhd
St Marco Park – Phase 1 by Casa Bayu Idaman Sdn Bhd

Best Condo/Apartment Development (Northern)

The Horizon @ Ipoh by DreamLike Development Sdn Bhd

Best Mega Township Development

Bandar Sri Sendayan by Matrix Concepts Group
Taman Sutera Utama by Tanah Sutera Development Sdn Bhd
Tropicana Aman by Tropicana Corporation Berhad

Best Township Development

SIERRA HEIGHTS by Kemajuan Tong Tor Sdn Bhd

Best Hotel Development

Courtyard by Marriott, Penang @ Tropicana 218 Macalister by Tropicana Corporation Berhad

Best Industrial Development

i-Park@Senai Airport City by iPark Development Sdn Bhd

Best Mixed Use Development

Tropicana Gardens by Tropicana Corporation Berhad

Best Retail Development

Oasis 3 by Tropicana Danga Cove Sdn Bhd
Uno @ Bukit Raja by Rivertree Signatures
Vervea by Aspen Group & IKEA Southeast Asia

DESIGN AWARDS

Best Condo/Apartment Architectural Design

Novo Ampang By Alfranko Development Sdn Bhd

Best Housing Architectural Design

Ayera Residences by Tropicana Danga Cove Sdn Bhd
D’ Art 18 Collection III by PH World

Best Landscape Architectural Design

QuayWest Residence by Asia Green Group

BEST OF MALAYSIA AWARDS

Best Condo Development (Malaysia)

Winner to be announced at the virtual gala on 28 August 2020

Best Housing Development (Malaysia)

Winner to be announced at the virtual gala on 28 August 2020

SPECIAL RECOGNITION AWARDS

Special Recognition for ESG (Environmental, Social, Governance)

AME Development Sdn. Bhd.
KLK Land
Mah Sing Group Berhad
Tanah Sutera Development Sdn Bhd
Tropicana Corporation Berhad
UMLand

Special Recognition for CSR (Corporate Social Responsibility)

AME Development Sdn. Bhd.
Fieldman Construction Sdn Bhd
Ideal Property Group
KLK Land
Mah Sing Group Berhad
Tanah Sutera Development Sdn Bhd
Tropicana Corporation Berhad
UMLand

Special Recognition in Sustainable Construction

AME Development Sdn. Bhd.
KLK Land
Mah Sing Group Berhad
Tanah Sutera Development Sdn Bhd

Special Recognition in Sustainable Design

AME Development Sdn. Bhd.
Ideal Property Group
Mah Sing Group Berhad

Special Recognition for Building Communities

AME Development Sdn. Bhd.
Ideal Property Group
Mah Sing Group Berhad
Tanah Sutera Development Sdn Bhd
UMLand

PUBLISHER’S CHOICE

Malaysia Real Estate Personality of the Year

Sarena Cheah, Managing Director, Property Division, Sunway Berhad

— End Of Press Release —

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Press Release: GLOMAC Joins The Solution For Fabric Pollution

Kuala Lumpur, 30 April 2021 – As Malaysia progresses into another Movement Control Order (MCO), Glomac and SaltyCustoms have teamed up in an initiative by Kloth Cares to help control fabric wastes around the area of Taman Tun Dr Ismail (TTDI).

Award-winning developer Glomac and custom apparel expert SaltyCustoms joined forces and officially launched a Fabric Bank located at Glo Damansara mall at the end of April. The initiative is in support of efforts by Kloth Malaysia Sdn Bhd, a local social entrepreneurship movement focused on keeping fabrics and plastics away from landfills through the circular economy business model.

“When we heard from SaltyCustoms about this movement and the idea to place a Fabric Bank in the vicinity of our main operational areas, we see a sustainable future where Glomac can do its part to care for mother nature,” said FD Idzham FD Iskandar, Senior Manager of Glomac’s Group Corporate Communications and Corporate Marketing unit.

The Fabric Bank initiative is part of the movement known as Kloth Cares Fabric Recycling Movement. Since its kick-off in August 2018, the effort has opened doors to many corporate entities to participate.

FD Idzham added that this is part of Glomac’s plans in expanding its sustainability programme for the Group. He further explained that this is the first of five of such Banks which Glomac plans to set up in their townships and developments.

“The more the merrier. We plan to implement more Fabric Banks in our townships such as Saujana Perdana in Bandar Saujana Utama and other developments, all of them in mature neighbourhoods. We believe this effort will receive tremendous support from the local communities,” added Encik Zulkifly Garib, Glomac’s Chief Operating Officer (Operations).

According to Kloth Malaysia in 2019, Malaysians produce up to 2,000 tonnes of textile wastes and other wearable products daily. This proves to be an issue as harmful greenhouse gas is released when textile waste decomposes. This greenhouse gas, known as methane, destroys the environment as it contributes to global warming.

The Fabric Bank accepts almost any kind of fabric donations. This includes shirts, jeans, bedsheets, and even plush toys. The collected items will then be sent to the sorting centre monthly, where they are sorted out, re-processed and re-distributed according to their new purposes.

Those living around TTDI and wishing to donate can come to Glo Damansara mall where the Fabric Bank can be found at the second LG entrance (opposite Desa Kiara Condominium/back entrance).

-End Of Press Release –

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Press Release: Glomac Wins People’s Choice Award And The Best Mixed Development Titles

Kuala Lumpur, 21 June 2021 – Glomac Berhad was named winner in the Best Developers – People’s Choice Award at the recent iProperty Development Excellence Awards (iDEA) 2021 Virtual Ceremony held on 25 May recently. At the same time, the multi-award winning developer was also honoured with Best Mixed Development Award Glomac’s high-rise development called Plaza@Kelana Jaya.

Held online on the social media Facebook platform, the awards is a recognition of property development in the country. This is the 4th consecutive year for the annual awards ceremony where each event raises the spotlight on the industry’s most accomplished developers and their latest developments.

For Glomac, The Best Developers – People’s Choice Award was received by FD Idzham FD Iskandar, Senior Manager of the Group Corporate Communications and Corporate Marketing unit. This award recognises the best local and international property developers based on the highest number of votes cast by the members of the public.

“We would like to thank our buyers, investors and supporters who have brought us to where we are today. This award motivates us to continue working hard and be recognised as a world class property developer.” he said.

Meanwhile, the Group’s Chief Operating Officer (Operations) Encik Zulkifly Garib represented Glomac in receiving the Best Mixed Development award for Plaza@Kelana Jaya.

“We are honoured to receive the award and would like to express our gratitude to iProperty for the recognition. Location is a big factor for Plaza@Kelana Jaya. It fronts the Lebuhraya Damansara-Puchong (LDP) with easy access to other major roads.

Plaza@Kelana Jaya’s latest features also include work from home and study from home facilities”, he expressed when asked on what makes Plaza@Kelana Jaya special.

Comprising 696 SoHo units and 16 three-storey shop offices, Plaza@Kelana Jaya has a take-up rate of 83%. Despite the stop-work order during the first Movement Control Order (MCO) in 2020, this freehold development, launched in 2018 is expected to be completed on time by 2Q next year.

En Zulkifly added that with the extension of Home Ownership Campaign (HOC) 2021 until 31 December 2021, homebuyers can benefit from Glomac’s participating projects and enjoy stamp duty exemptions and legal fees.

Glomac’s latest developments include Primrose in Saujana KLIA, Sepang, and the Sari series (Dahlia Sari and Mawar Sari) in Saujana Perdana, Sungai Buloh.

–End of Press Release–

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Press Release: First Phase of GreenAcres and RM10 million clubhouse

Press Release by Green Acres, Total Investment Sdn Bhd

YB Datuk Seri Mah Siew Keong Officially Opens Green Acres

~ Unveils RM10 million clubhouse and Phase 1 resident-ready villas~

RM10 million club house

lush surroundings

Bandar Meru Raya, October 7
~ Minister of Plantation Industry and Commodities, YB Datuk Seri Mah Siew Keong today officially opened the first phase of GreenAcres, Malaysia’s premier retirement village as well as unveiled its brand new RM10 million clubhouse with Executive Director of Total Investment Sdn Bhd, Mr John Chong and founder of GreenAcres, Madam Siew Yin Leng.

The first phase of the RM100 million (gross development value) GreenAcres project comprise the first 26 units of resident-ready single-storey landed villas with lush linear gardens that comes with walking paths, gazebo, water feature and flourishing greens throughout.

The RM10 million clubhouse spans 30,000 sq ft and anchors the residents’ community activities. Fronting a pristine landscape back-dropped by emerald green hills in the distance, the clubhouse is the largest within a residential development in Ipoh.

YB Datuk Seri Mah Siew Keong, a Perakian, said that he was proud of Total Investment’s achievement.

“For their vision, I would like to applaud the Total Investment Group for taking a leap of faith towards transforming the retirement landscape in our country. The launch of GreenAcres is the start of retirement services that priorities the needs and sustainable lifestyles of the silver set within the country, relinquishing the stigma of ‘old age’ and ‘old folks home’,” he said.

According to the Department of Statistics, the life expectancy of Malaysians is on the rise, with men and women expected to live for another 12 to 17 years past the official retirement age. Men are expected to live until the age of 72 and women until the age of 77. In tandem with this is the rise of employment mobility where increasingly many children are exploring employment opportunities away from their hometown. As such, many elderly parents face the prospect of having to live alone.

John Chong, Executive Director of Total Investment Group said that he was delighted to have the support of the first-residents within the homes.

“The first phase villas include new residents which comprise people from Malaysia, Hong Kong and Canada. We are receiving great interest from residents from all over the world who would like to retire gracefully and comfortably in Ipoh and we are confident that with the official opening of GreenAcres, we will be able to attract even more interest,” he said.

This year, a global authority on retirement and relocation opportunities, International Living, has named Malaysia as one of the top 10 places in the world to retire citing affordability, world-class healthcare, idyllic vacation spots and multiculturalism as reasons for their selection. In 2014, US News named Ipoh as the third most affordable place in the world to retire, with its first-world healthcare, modern infrastructure and fresh air, clean water and relaxing lifestyle which improves the quality of life and promotes longevity.

The 13 acre retirement village with integrated aged care facility is open to residents above the age of 55 and will be built in phases. The entire project is expected to complete by 2021. A low-density development, GreenAcres was conceptualized with the help of experts from Australia.

COMPACT HOMES BIG ON AGE-FRIENDLY FEATURES

The homes are designed to be age-friendly, and are available in six layouts ranging from 734 sq ft to 1,105 sq ft in size. The homes are taken up using a novel lease deposit structure with amounts starting from RM 300,000.

The means that lease deposits are fully-refundable once a resident leaves the village.

The comfortable compact homes which are within the gated and guarded 13 acre development translates to ease of upkeep for the residents, and each home is specially designed with more than 10 age-friendly features such as wider doors; lower and larger switches; wider and longer handles on furnishings; bathroom grab rails; taps with lever handles; seats in the shower; ramped entryways at the main entrance; step-less bathroom; emergency call buttons; and levers handles on all doors;. The units are also equipped with lights, fans, air-conditioning, grilles, mosquito netting, built in cabinets and alarm system – all for the convenience of the resident.

Emergency call buttons are placed in the living room, the bathrooms as well as the bedrooms and are connected to a round-the-clock central monitoring system placed in the guardhouse and the clubhouse. The residents need only to depress the red button to obtain assistant from the Response Team.

The community management team which will be situated in the clubhouse are first-aid trained.

COMMUNITY-CENTRIC CLUBHOUSE

The 30,000 sq ft three-storey clubhouse will be the centre of the community activities to be organised in the village.

The main hall seats to up to 200 people on table seating and is modular to fit both small and medium sized events.

In terms of facilities, there is also a lounge area, gym, games room, pool table room, 24 seater mini-cinema for screenings, karaoke room, a TV lounge, a reading room, private function rooms, and community planting boxes where the retirees can come together to enjoy community life. A café and dining area is also in the works for the Clubhouse

SERVICE-CENTRIC COMMUNITY MANAGEMENT

For the retirees, the community management team organises regular on site age-friendly activities that support a healthy, active and social lifestyle, such as movie nights, karaoke evenings, senior zumba, yoga, tai chi and health talks.

A village shuttle is available to ferry residents off-site and back to popular stops around town.

The management team can also organize off-site tours on behalf of the retirees to nearby attractions such as the Kledang Saiong Forest Eco Park a mere three minutes away from the development, theme parks such as the Lost World of Tambun and the Movie Animation Park Studios (MAPS) and tourist attractions such as Kellie’s Castle and Gua Tempurung..

The maintenance of the public areas such as the community gardens will be by the community management team, while housekeeping is available as an optional paid service.

Theatrette

Lounge Area

— end of press release —

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