Singapore’s consultants to develop a new project at Penang

Posted on by
Reply

HDB aka Housing and Development Board in Singapore is known to the best public housing body on the planet. Known to be the best privatized building and housing division at Singapore, they have now signed in a new proposal to proffer consultancy for the first project they are undertaking in Malaysia. Real estate Malaysia is already on a boom and with this announcement the fame would further get attenuated. This has been signed by the Sarbana International Consultants at Singapore.

Centered in Bandar Cassia at Batu Kawan, the total value of the project is estimated to amount up to RM2 billion and the tenure that the project completion would require is around 10 to 15 years.

The project will involve construction of 11,800 homes as affordable apartments on a land area of 80.9 hectares under the Penang Development Corporation ownership. This venture is anticipated to become the biggest housing project in the public sector in this area.

The venture will involve five land parcels and will comprise residential units within blocks in 9 to 20 stories. The price for an apartment unit of three bedrooms of 800 sq ft is touted to be around RM72,500 and RM220,00 for bigger units.

Out of all the 11,800 units, 53% will be 1000 sq ft, 24% will be of 900 sq ft and the remaining would be of 800 sq ft in area. This is a great addition in Penang real estate and the Government has shortlisted Sarbana for the whole designing and conceptualization as far as the first phase is concerned. The government has chosen the best to prevent any imitation. Talking about the earning, it’s speculated that the first phase of the project would offer 1.5% which is RM450 billion GDV to Sarbana against the contract signed between them and the state.

The developers however would be shortlisted at an open tender that would be held shortly. Whatever the final outcome, but for now this is no less than great news for Penangites!

HDB aka Housing and Development Board in Singapore is known to the best public housing body on the planet. Known to be the best privatized building and housing division at Singapore, they have now signed in a new proposal to proffer consultancy for the first project they are undertaking in Malaysia. Real estate Malaysia is already on a boom and with this announcement the fame would further get attenuated. This has been signed by the Sarbana International Consultants at Singapore.

Centered in Bandar Cassia at Batu Kawan, the total value of the project is estimated to amount up to RM2 billion and the tenure that the project completion would require is around 10 to 15 years.

The project will involve construction of 11,800 homes as affordable apartments on a land area of 80.9 hectares under the Penang Development Corporation ownership. This venture is anticipated to become the biggest housing project in the public sector in this area.

The venture will involve five land parcels and will comprise residential units within blocks in 9 to 20 stories. The price for an apartment unit of three bedrooms of 800 sq ft is touted to be around RM72,500 and RM220,00 for bigger units.

Out of all the 11,800 units, 53% will be 1000 sq ft, 24% will be of 900 sq ft and the remaining would be of 800 sq ft in area. This is a great addition in Penang real estate and the Government has shortlisted Sarbana for the whole designing and conceptualization as far as the first phase is concerned. The government has chosen the best to prevent any imitation. Talking about the earning, it’s speculated that the first phase of the project would offer 1.5% which is RM450 billion GDV to Sarbana against the contract signed between them and the state.

The developers however would be shortlisted at an open tender that would be held shortly. Whatever the final outcome, but for now this is no less than great news for Penangites!

SPNB will no longer revive deserted projects in Malaysia

Posted on by
Reply

Property scenario in Malaysia is constantly evolving. Many new developments and policy revisions in the recent times has driven this evolution further. The latest news on this front was the backing off of reviving abandoned housing projects in real estate Malaysia. This announcement was made by SPNB aka Syarikat Perumahan Negara Bhd, who has already earned the popularity of being an ace developer here.

The step is a result of a policy change under which the developers will no longer rehabilitate such abandoned projects. From now on all these projects will be managed by the Housing and Local Government Ministry in Malaysia with the support of Commissioner of Buildings.
The ministry plans to work with private developers for accomplishing the revival task. Further the ministry anticipates that where the medium cost houses are concerned it will not be difficult to attract developers who are willing to work on the project. The prices can be set at competitive level that will assist in making a substantial profit.

Developers however may stay back as efforts that focus on reviving such medium and low cost houses is not a guaranteed way to earn lucrative profits and keeping pace with the increasing prices will also be needed.
The risk is high and if developers under any circumstances are not willing to undertake the same then the government will need to come up with more doable solutions for the development of such deserted projects.
SPNB would however continue with the reviving of two projects that have remained idle since 2005. These are Taman Tangkak Emas and Taman Jasa Amir in Johor.

SPNB in 2011 revived 1004 units of abandoned homes in many places in Malaysia. Meanwhile, it’s a known truth that such deserted projects are prevalent in every part of the country but is concentrated in areas like Johor, Negeri Sembilan and Selangor. The slow development rate is touted to be the reason behind this high intensity.
SPNB has continued working for the accomplishment of such welfare projects in real estate Malaysia since 21st August 1997.

Faber Tower in KL up for sale by Jeram Bintang

Posted on by
Reply

The Faber Tower in Kuala Lumpur, which is a popular attraction here, was built by the Faber Group Bhd. The same was completed in the year 1986. The latest news from this front is the sale notification by Jeram Bintang Sdn Bhd, the company which owns 90 percent of this commercial complex. As per the people who are familiar with this news price for the same is expected to range from RM80 million to RM90 million.
WTW aka CH Williams Talhar & Wong have been appointed as the exclusive marketing agent for this huge deal going to occur soon in real estate Malaysia. Other than the 90% held by Jeram Bintang the remaining 10% is owned by individual owners.
Jeram Bintang acquired this area in the year 2004 and this current sale is described as the cash out policy for the company which they wish to use for the fulfillment of other anticipated projects. Jeram signed a condition for sale and agreement with Faber this included setting up of a consortium of banks that focused on disposing properties. The properties included hotel, and a mall that the group owned. The agreement was signed in the May of 2004.
The property for sale includes a complex with 18-20 storied office blocks, a three level car park, a podium and Jeram is in selling 610,000 sq ft of this floor area in Faber Tower.
The expected sale includes 81.4% of the first tower and 100% of the second tower. 73.6% of the podium that is 62 strata retail units and the carpark are included in the sale. Most experts have stated that the selling price Jeram has quoted for the same is much below then the actual ongoing market price.
The aging buildings in the tower will need a lot of capital for upliftment which is keeping away most investors from buying the same. Meanwhile, the current price of commercial land surrounding the Faber Tower is between RM400 to RM500 per sq ft.
Many investors from Malaysia and Singapore have already approached WTW, but who will actually buy the same is something that only time will reveal.

Affordable housing plans are a need of the hour in Malaysia

Posted on by
Reply

Malaysia as a fairly young nation has developed many inclusive policies that have armed the same from fighting against the adverse financial conditions that are prominently seen in most European countries. The challenging economy is an ideal time to measure the potential of any nation and to see that where the same is heading.

The world around us is changing and so is the meaning of the word ‘happiness’. People first lived by the belief that happiness is a personal asset, but people now measure the same as owning a home, meeting the needs of every member of the family and more. Everyone out there has worked to pursue their personal interest and above all ensure security.

The high living cost and the inflation in the property prices has raised an immediate need for measures that can curb the same. The government in Malaysia thus needs to focus on paying more attention towards developing public or social housing. Affordable housing facility has emerged as the most important need of this hour.

The low income group here is counting on the Malaysian government to offer a social housing facility that can help them in sustaining a proper life, with a roof that they can live beneath. The government to tackle this situation has announced development of many such subsiding homes for all such people belonging to the low income group in the coming years.

A consolidated plan is needed that can help in constructing an optimal public infrastructure. The ongoing efforts cannot be overlooked, but the need for a master plan still seems significant. Real estate Malaysia is growing at a stable rate, but when speaking about the overall growth of Malaysia, the welfare of the overall population and not just a few privileged seems significant.

A strong focus on creating public housing is expected to act as a well-built cushion for Malaysian property market and can help it from experiencing stagnation during these tough times.

Fall in luxury property prices expected for 2012 in KL

Posted on by
Reply

The latest annual market forecast released by Knight Frank this week stated a significant decline in the price of luxury properties in many Asian countries. Out of the 23 locations mentioned in the report, Kuala Lumpur in Malaysia is ranked 20th on this Knight Frank Global Cities Index. The statement was further materialized by the 5.6% downfall that the residential sector here noted in the year 2011.

The forecast is for not just luxury properties, but is anticipated to show influence in office, retail as well as residential market. There are many reasons being quoted for this decline, but few that are considered the most effective include the lowered demand from expatriates and the cost cutting seen in the corporate scenario.

Meanwhile this downward trend has already begun to show its impact in Kuala Lumpur, with only 0.6% shedding of these assets seen in the last quarter of 2011. The report also suggested that the prices of prime properties all over the globe have continued to show an incredible growth outperforming the counterparts in mainstream. This has been noted even after the price slide seen over the last year.

Talking about the rents, 2012 is expected to remain a stable year for the same. Also, the tight rules in home loans levied by banks and financial companies will cause a mild correction in the property prices in the first half of 2012.

The Real Estate Housing Developers Association of Malaysia in their recent report stated that most home builders and investors expect the property prices to rise, even though the first few months may remain tight. In most surveys, 74% of the people being surveyed said that the housing prices will show an increase. But for the luxury property prices they are expected to see a downfall.

Loan growth in Malaysia expected to restrain in 2012

Posted on by
Reply

The loan growth for housing in Malaysia has noted a stable growth and has expanded at a robust pace since December. Analysts however said that the real test of the same would be visible in the first few months of the New Year. This is especially due to the increasing household debt that has seen a considerable growth in Malaysian market.

The loan for real estate Malaysia saw a 30.7% increase in December last year. When compared to February of 2011, a 13.4% growth was noted for the same. Overall the investment activity in real estate scenario remained stable as investors enjoyed many benefits of the low borrowing cost primarily initiated to fight the ongoing financial crunch.

Most surveys have clearly shown that Malaysians find home buying as the most expensive asset with car falling just in the second place. In December last year home loans rose to a whopping 13%, which was the highest seen in the last seven months.

While loans in most other sectors saw a decline, but the housing loans sector moreover remained stable. Experts say that a temporary rebound in housing loans in Malaysian properties is expected after the banks are anticipating implementation of newer measures for controlling debts.

All in all, the total loan growth that Malaysia has noted in the first month of 2012 is 8-9% which has dropped down from the 13.6% noted last year. The lending curbs are the most prevalent reason behind this decline.

Whatever analysts and experts may suggest for the time being, but the current inflation is likely to disturb all the set figures. If not considerably, but slightly.

Overall, the loan growth in not just the housing scenario, but in every sector is expected to moderate in 2012, at least till the middle of the year or so.

Malaysia Property Award 2012 invites entries for this year’s award function

Posted on by
Reply

FIABCI known as the ‘International Real Estate Federation’ is a global network whose membership can be taken up by any professional belonging to the property industry. As a platform that is filled with amazing opportunities, they enable members to interact with competitors and other developers locally, nationally as well as internationally. The number of countries this organization currently spans is 60, with 120 professional organizations and 3500 professionals from all over as its members. The four major regions this covers is Africa, America, Asia Pacific and Europe.

Every year at FIABCI there is an award function that aims at honoring developments in the real estate irrespective of the location and size. This year, that is in 2012 too, the organization will systematize the 20th Malaysia Property Awards that will be held in November.

Currently FIABCI is calling for entries from real estate Malaysia in order to award those developments that display excellence of creativity in every aspect. The developments are evaluated in terms of design, environmental consequences, workmanship, financial viability, how facilities have been managed, benefits to the area, marketing strategies and the lifestyle improvements. This is done by a panel of experts from the field.

These property awards stand as the most renowned and professional honor in the real estate and property scenario. There are in total fourteen categories, in which the awards will be offered in 2012. Just few of these are Environmental, Resort, Hotel, Residential (high/low rise), Industrial, Public Sector, Specialized Projects and more.

Winners of this year’s award will be announced at a Gala Dinner that will be held in November 2012. The number of attendees is expected to be over 1000. The last date to submit entry forms for the FIABCI Malaysia Awards this year is 31 March 2012.

Any interested developer/professional can download the entry form at http://www.fiabci.com.my/

New stamp duty in Singapore: anticipated to become boon for Malaysians

Posted on by
Reply

Real estate in Malaysia is seeing a constant growth and this is due to the combined support of government, investors, developers and agencies working in the scenario. There are many new rules that are now being initiated to help everyone enjoy more feasible alternatives than before. Just one such that needs a mentioning here is the imposition of Stamp Duty in Singapore. Although not much dependent, but imposition of this additional tax is anticipated to turn a blessing in disguise for Malaysians. This is also speculated for markets lying in the surrounding regions.

This move will prove fruitful for properties particularly in Johor region. The most obvious example of this tax’s addition was the lowering of prices of the Sky garden Residences at Johor Baru, which is a part of the Setia Tropika Project being undertaken in the area. The stamp duty is speculated to bring down the prices of properties to another 10% in the near future.

This tax addition is expected to bring in benefits for not just real estate Malaysia but also markets in other countries like Australia, Britain and more. The lowering of the rate of interests is already proving a boon for these markers and this tax addition will improve the poor market conditions by offering buyers more attractive deals than before. All these places are called the favored investment destinations among buyers, most surveys have already shown this.

The introduction of ABSD or additional buyer’s stamp duty that lies between 3 to 10% when buying private properties became active from the 8th of December. This is applicable to not just people residing in Singapore, but foreigners too.

Still some analysts say that the tax will introduce speculations in the mind of foreign investors which may make them stay away from the market for a while. The Malaysian government on the other hand is not in a mood to take such an action even when the property prices here are gearing up at a high speed.

A new township from Sara Timur to begin in July at Kelantan

Posted on by
Reply

New in Malaysian real estate is the development of projects that incorporate eco friendliness. Currently many developers both in the Malay Peninsula and the Island region are concentrating on greener technology and are creating properties that can maintain that natural balance aptly. Just one such development by a leading developer in real estate Malaysia is a new township that is undertaken by Sara Timur Sdn Bhd. As a renowned firm this is a Sarawak construction and development firm that touts the gross development value of this new township to amount somewhere around RM1.2 billion. This will be starting from July at Kelantan in Malaysia.
Also, the company discussed about its plan of rejuvenating Kota Bharu with their new project named Bandar Baru Tunjong Project. The managing director of the company said, that this would be practically carried out as a joint venture in association with Tunjong Development Corporation Sdn Bhd, which is a subsidiary of Kelantan’s Mentri Besar Inc.
This project after completion is bound to emerge as the new business hub of Kelantan. As a unique, sophisticated concept that is prevalent in metropolitans only, this will comprise of a convention hall, commercial units, retail malls and villages, office blocks in multi levels, a town square, condos and lifestyle apartments. These are just few highlights of this project amongst many others.
Situated at just 6 km from Kota Bharu, this new township will cover an area of 800 hectares and will take around five to seven years to get completed. This in true sense would be a picture of Kelantan’s culture and is bound to bring a transformation in the shopping scenario of the place.
Sara Timur has already created a strong grasp in Malaysian real estate and the development of new projects is another impressive aspect from the company. Apart from this another development from their arsenal is the Mersing Laguna Resort that is a multi billion ringgit project that will cover over 800 ha of land covering three renowned islands at Johor.

Saujana Residency another gem from the Malaysian real estate, now ready for sale

Posted on by
Reply

Saying that the Condominium unit at the Saujana Residency is an appeal of exclusivity will not be exaggerating at all. The magic that these properties in real estate Malaysia will create is bound to entice every onlooker. A mere fifteen minutes spend at this property is sure to liberate anyone while taking them to a world of exceptionality and one that is totally a dream sequence.
The spacious look and the uncluttered layout this property boasts is enough to fit in perfectly into the picture of that dream home of any investor seeking for something unique. The four bedroom property with three bathrooms and an extended living space located on a low floor gives a spectacular view of the Olympic sized swimming pool at the Saujana Residency. The view this one reveals is something that no other property in the building can give an access to. The real estate agent who gave a description about the same said this with pride.
The property is bound to give any tech savvy owner an access to all the high-end facilities, tennis court, swimming pool, spa pool, sauna, game zone, round the clock security and barbeque pit are just few of these facilities. The price for this property for sale is RM1.8 billion. The condo’s renovation has been done very nicely without flaws and with utmost precision.
The one owning this place is sure to experience convenience that is top notched and this is an ideal buy for families and people who have just returned or immigrated here from foreign.
Saujana Residency like most others in Malaysian real estate is an epitome of luxury and high end living that is bound to give the one living here an idealistic living experience drenched with luxury.