Eastern & Oriental Bhd (E&O) is planning to launch properties worth over RM2bil in gross development value (GDV) during its current financial year ending March 31.
Scheduled for launch were the St Mary’s serviced apartments in Kuala Lumpur and the first phase of the Seri Tanjung Pinang condominiums in Penang, said executive director Eric Chan.
“Each project has a GDV of over RM1bil,” he said after the company AGM and EGM yesterday.
“We will be evaluating the property market and will decide when the time is right to launch. But it will be within this financial year.”
The St Mary’s development is located in Kuala Lumpur’s central business district, at the corner of Jalan Tengah and Jalan P. Ramlee.
It will comprise three blocks of 28-storey luxury apartments on 4.13 acres of freehold land while the Seri Tanjung Pinang condominium development is located on 21 acres of freehold land.
E&O’s core businesses are in property development, property investment as well as hospitality and lifestyle projects.
The property development division currently contributed about 90% to group revenue, according to Chan.
“Within the next five years, we want to increase the contribution from our property investment, and hospitality and lifestyle divisions to about 20% each, with our property development contributing about 60%,” he said.
According to its annual report, E&O has a total landbank of 1,687 acres, located in the Klang Valley and Penang.
Chan said the group was looking to acquire more land for future projects.
“We are always looking for new locations, especially within the Klang Valley and Penang because that is where our brand is,” he said, adding that the group was also looking to expand its presence overseas.
“We hope to take our brand regional,” Chan said. “When the right opportunity arises we will do so but at the moment we are not present in any other country.”
By The Star
September 30, 2008
September 29, 2008
Sunrise going ahead with super-condos amid challenges
SUNRISE Bhd is continuing to launch “super-condos” in Mont’ Kiara despite fears of an economic slowdown.
In the pipeline is the 460-unit 10 Mont’ Kiara which may set a new benchmark price.
The company, which was the first property developer to launch the RM1mil “super-condo” eight years ago, continues to set new benchmarks not only in pricing but also quality and service.
Sunrise general manager (branding & corporate communications) Joachim Ng recalled how Sunrise shocked the market when it launched its Mont’ Kiara Damai in 2000, the first “super-condo” that broke the RM1mil per unit mark in Mont’ Kiara.
Since then, the public-listed company went on to launch more “super-condos” priced at an average of RM1mil and above. They include Mont’ Kiara Aman and Mont’ Kiara Banyan.
In 2006, Sunrise launched the 10 Mont’ Kiara where the units were priced above RM2mil each or about RM530 per sq ft (psf). While other developers went for smaller units, Sunrise continued building large units of 2,500 to 4,000 sq ft.
“The success of 10 Mont’ Kiara showed that this affluent suburb can take a price level of RM2mil,” he said, adding that another benchmark was set when it launched the 11 Mont’ Kiara last September at RM700 psf and climbing to RM890 psf for the latest units.
Ng said 65% of Sunrise’s residents were foreign expatriates and their families, mainly from Japan, Korea, Britain, the United States, Sweden, India and Indonesia. The average occupancy of its condominiums is 82%.
“Sunrise spearheaded the development here 15 years ago. Its philosophy has always been creating value-added products and it gave so much back to its purchasers in terms of excellent services from property management, security, traffic control to cleaning public roads,” he said.
He said new players who came in about five years ago had benefited from Sunrise’s efforts. An example is the Solaris Mont’ Kiara where its many food and beverage outlets would meet the growing demand for eating and entertainment facilities. Solaris Dutamas Phase 1 is due for completion this September while the project would be finished in first quarter of 2010.
“The other developers are riding on Sunrise’s infrastructure. While we’re trying to differentiate ourselves from others, they have no problem identifying themselves with us as they too call their area Mont’ Kiara although they are further away,” said Ng.
Ng said Singapore’s Building and Construction Authority (BCA) recently conferred the Green Mark Certified Award to 11 Mont’ Kiara, making it the first residential development in Malaysia to achieve this distinction in environment sustainability in several criteria: energy and water efficiency, indoor environment quality, innovation and site/project management.
Sunrise, which had won numerous awards, was also named Malaysia’s Best Residential Developer in Euromoney’s 2008 Liquid Real Estate Awards. It is also thrice winner of the Malaysia Property Award (formerly known as FIABCI Award of Distinction) in 2005, 2001 and 1997 for Best Residential Development and was named Forbes Asia 200 Best Under US$1billion Company 2005.
Ng said although Sunrise’s condominiums were priced at a premium (10% to 15% more), it offered a host of services to its buyers.
“You may pay slightly more but in the long run it’s actually cheaper as you get to enjoy so many kinds of services and facilities,” he said, as he showed the security command centre in Plaza Mont’ Kiara where staff monitor the 38 CCTV cameras placed at strategic spots in the Jalan Kiara area. This Safe City concept has given residents and visitors a sense of security.
Ng said the company spent about RM1mil yearly just on security (not including security in the condominiums) and cleaning services.
It has also spent RM1.5mil on Fun Zone (opened in Sept 2006), a 4,000 sq ft upbeat community area for its 12,000 residents living in its 11 completed condominiums. Located at Aman Walk retail deck along Jalan Kiara 2, the centre is the brainchild of Sunrise Bhd executive chairman Tong Kooi Ong, who wanted the residents to foster closer bonding through free activities as reflected in its seven themed “planets”: arts, books, cuisine, drama, music, nature and sports. There is also a large play area called Space Explorer play-gym that is very popular with the children.
Sunrise has built over 4,000 completed residential and commercial units in 11 condominium and two commercial projects (Plaza Mont’ Kiara/Solaris Mont’ Kiara). This does not include the Solaris Dutamas and several high-end condominiums like the 10 Mont’ Kiara, 11 Mont’ Kiara and Mont’ Kiara Meridien - all under construction. It has another 100 acres in the area to be developed over the next decade.
There is an estimated 6,000 condominium and commercial units completed by other developers in the area.
Ng feels the “congestion issue” had been overplayed as the current heavy traffic is mainly due to construction activities. Jalan Kiara 1 (recently made into a no-parking zone) would be widened by three feet and there would be more access roads in the future, he added.
By The Star
In the pipeline is the 460-unit 10 Mont’ Kiara which may set a new benchmark price.
The company, which was the first property developer to launch the RM1mil “super-condo” eight years ago, continues to set new benchmarks not only in pricing but also quality and service.
Sunrise general manager (branding & corporate communications) Joachim Ng recalled how Sunrise shocked the market when it launched its Mont’ Kiara Damai in 2000, the first “super-condo” that broke the RM1mil per unit mark in Mont’ Kiara.
Since then, the public-listed company went on to launch more “super-condos” priced at an average of RM1mil and above. They include Mont’ Kiara Aman and Mont’ Kiara Banyan.
In 2006, Sunrise launched the 10 Mont’ Kiara where the units were priced above RM2mil each or about RM530 per sq ft (psf). While other developers went for smaller units, Sunrise continued building large units of 2,500 to 4,000 sq ft.
“The success of 10 Mont’ Kiara showed that this affluent suburb can take a price level of RM2mil,” he said, adding that another benchmark was set when it launched the 11 Mont’ Kiara last September at RM700 psf and climbing to RM890 psf for the latest units.
Ng said 65% of Sunrise’s residents were foreign expatriates and their families, mainly from Japan, Korea, Britain, the United States, Sweden, India and Indonesia. The average occupancy of its condominiums is 82%.
“Sunrise spearheaded the development here 15 years ago. Its philosophy has always been creating value-added products and it gave so much back to its purchasers in terms of excellent services from property management, security, traffic control to cleaning public roads,” he said.
He said new players who came in about five years ago had benefited from Sunrise’s efforts. An example is the Solaris Mont’ Kiara where its many food and beverage outlets would meet the growing demand for eating and entertainment facilities. Solaris Dutamas Phase 1 is due for completion this September while the project would be finished in first quarter of 2010.
“The other developers are riding on Sunrise’s infrastructure. While we’re trying to differentiate ourselves from others, they have no problem identifying themselves with us as they too call their area Mont’ Kiara although they are further away,” said Ng.
Ng said Singapore’s Building and Construction Authority (BCA) recently conferred the Green Mark Certified Award to 11 Mont’ Kiara, making it the first residential development in Malaysia to achieve this distinction in environment sustainability in several criteria: energy and water efficiency, indoor environment quality, innovation and site/project management.
Sunrise, which had won numerous awards, was also named Malaysia’s Best Residential Developer in Euromoney’s 2008 Liquid Real Estate Awards. It is also thrice winner of the Malaysia Property Award (formerly known as FIABCI Award of Distinction) in 2005, 2001 and 1997 for Best Residential Development and was named Forbes Asia 200 Best Under US$1billion Company 2005.
Ng said although Sunrise’s condominiums were priced at a premium (10% to 15% more), it offered a host of services to its buyers.
“You may pay slightly more but in the long run it’s actually cheaper as you get to enjoy so many kinds of services and facilities,” he said, as he showed the security command centre in Plaza Mont’ Kiara where staff monitor the 38 CCTV cameras placed at strategic spots in the Jalan Kiara area. This Safe City concept has given residents and visitors a sense of security.
Ng said the company spent about RM1mil yearly just on security (not including security in the condominiums) and cleaning services.
It has also spent RM1.5mil on Fun Zone (opened in Sept 2006), a 4,000 sq ft upbeat community area for its 12,000 residents living in its 11 completed condominiums. Located at Aman Walk retail deck along Jalan Kiara 2, the centre is the brainchild of Sunrise Bhd executive chairman Tong Kooi Ong, who wanted the residents to foster closer bonding through free activities as reflected in its seven themed “planets”: arts, books, cuisine, drama, music, nature and sports. There is also a large play area called Space Explorer play-gym that is very popular with the children.
Sunrise has built over 4,000 completed residential and commercial units in 11 condominium and two commercial projects (Plaza Mont’ Kiara/Solaris Mont’ Kiara). This does not include the Solaris Dutamas and several high-end condominiums like the 10 Mont’ Kiara, 11 Mont’ Kiara and Mont’ Kiara Meridien - all under construction. It has another 100 acres in the area to be developed over the next decade.
There is an estimated 6,000 condominium and commercial units completed by other developers in the area.
Ng feels the “congestion issue” had been overplayed as the current heavy traffic is mainly due to construction activities. Jalan Kiara 1 (recently made into a no-parking zone) would be widened by three feet and there would be more access roads in the future, he added.
By The Star
September 27, 2008
SDBP goes on Singapore swing
Following on the heels of local big guns IOI Bhd and YTL Group, SDB Properties Sdn Bhd (SDBP) is making its maiden foray into Singapore with two residential projects already underway and a commercial venture probably in the near future.
The property arm of Selangor Dredging Bhd has ambition to expand beyond the country’s shores and believes it is prudent to begin with Singapore given the republic’s cultural similarities, stable market fundamentals and lucrative opportunities.
"We are new to the market there, but we’re keen to make a name for ourselves and introduce the same development and design principles as well as the look and feel that have made our properties a success in Malaysia," said SDBP senior sales and marketing manager Leon Kim Yoke.
SDBP’s debut project is the S$64 million (RM152.9 million) Jia – which means "home" in Mandarin.
Located on a 17,000sq ft plot along Wilkie Road, which is within walking distance to Orchard Road, the high-end project comprises only 22 units housed in seven storeys.
Because of its central business district location, a Jia unit has been pegged at S$1,637psf (RM3,912psf) which puts prices from S$2.1 million (RM5.01 million) for a two-bedroom apartment to over S$5 million (RM11.95 million) for the larger duplex units. Also on offer are three-bedroom units and another three units that boast sizeable private gardens.
Leon said Jia is doing something new by offering at least 1,200sq ft of space as most inner city apartments in Singapore are no larger than 700sq ft. This is because those projects are largely targeted at the "double-income no kids" or "DINK" market.
"We are targeting larger, well heeled families … and because of the dearth of sizeable properties in the CBD, we believe there is growing demand for more spacious apartments," she said.
Jia is also aimed at Malaysians who are among the city state’s top three investors.
Jia is due to be officially launched soon, but has been inviting registrants for previews over the past month.
Leon said SDBP’s second residential project in Singapore, a 33-storey apartment named 2 Gilstead, is planned for launch before year’s end.
A joint venture with three Singaporean companies, it will take shape on Gilstead Road, off Scotts Road in the Newton Circus vicinity. The 37,000sq ft site was purchased last year for S$96.5 million (RM232.5 million) and SDBP indicated that the units will be marketed at about S$2,200psf.
In Singapore, entry into schools is allocated based on residential proximity and the Newton Circus area boasts many popular schools, which are expected to drive demand for the project.
Recently, SDBP also purchased Balstier Complex in the suburban commercial hub of Balstier Road for S$45 million (RM107.55 million) with a view to redevelop the tenanted building.
By The New Straits Times
The property arm of Selangor Dredging Bhd has ambition to expand beyond the country’s shores and believes it is prudent to begin with Singapore given the republic’s cultural similarities, stable market fundamentals and lucrative opportunities.
"We are new to the market there, but we’re keen to make a name for ourselves and introduce the same development and design principles as well as the look and feel that have made our properties a success in Malaysia," said SDBP senior sales and marketing manager Leon Kim Yoke.
SDBP’s debut project is the S$64 million (RM152.9 million) Jia – which means "home" in Mandarin.
Located on a 17,000sq ft plot along Wilkie Road, which is within walking distance to Orchard Road, the high-end project comprises only 22 units housed in seven storeys.
Because of its central business district location, a Jia unit has been pegged at S$1,637psf (RM3,912psf) which puts prices from S$2.1 million (RM5.01 million) for a two-bedroom apartment to over S$5 million (RM11.95 million) for the larger duplex units. Also on offer are three-bedroom units and another three units that boast sizeable private gardens.
Leon said Jia is doing something new by offering at least 1,200sq ft of space as most inner city apartments in Singapore are no larger than 700sq ft. This is because those projects are largely targeted at the "double-income no kids" or "DINK" market.
"We are targeting larger, well heeled families … and because of the dearth of sizeable properties in the CBD, we believe there is growing demand for more spacious apartments," she said.
Jia is also aimed at Malaysians who are among the city state’s top three investors.
Jia is due to be officially launched soon, but has been inviting registrants for previews over the past month.
Leon said SDBP’s second residential project in Singapore, a 33-storey apartment named 2 Gilstead, is planned for launch before year’s end.
A joint venture with three Singaporean companies, it will take shape on Gilstead Road, off Scotts Road in the Newton Circus vicinity. The 37,000sq ft site was purchased last year for S$96.5 million (RM232.5 million) and SDBP indicated that the units will be marketed at about S$2,200psf.
In Singapore, entry into schools is allocated based on residential proximity and the Newton Circus area boasts many popular schools, which are expected to drive demand for the project.
Recently, SDBP also purchased Balstier Complex in the suburban commercial hub of Balstier Road for S$45 million (RM107.55 million) with a view to redevelop the tenanted building.
By The New Straits Times
KLIA Aeropolis to take off
Airport operator Malaysia Airports Holdings Bhd (MAHB) is expected to invite local and foreign developers and investors this month to submit requests to be involved in the development of 2,700 acres around the Kuala Lumpur International Airport (KLIA) in Sepang.
Under MAHB’s goal of expanding its revenue streams to include nonaeronautical activities, it has come up with a masterplan to turn what is currently oil palm plantation into the KLIA Aeropolis – an airport city accommodating buildings in keeping with KLIA’s sleek, modern design.
MAHB general manager of land development Muhd Najib Mohd Rawi said the site to be developed over the next 10 to 15 years has the advantage of being close to two major international gateways – the KLIA as well as the Low Cost Carrier Terminal.
The masterplan, he explained, provides for commercial buildings covering 1,000 acres, landscaped parks over 600 acres, a pair of 18-hole golf courses over another 600 acres, a stadium on 25 acres and a theme park to rival those in Genting Highlands or Sentosa Island in Singapore over 100 acres.
The initial phases of development will see the infrastructure in the commercial zone as well as an exposition and convention centre, retail outlets and purpose-built offices being built.
To attract developers and investors, MAHB will build a transport node similar to KL Sentral which will allow the Aeropolis’s occupants to be conveniently connected to the airport and KL city.
Altogether, MAHB has 18,000 acres in Sepang, with a substantial part classified under oil palm.
By The New Straits Times
Under MAHB’s goal of expanding its revenue streams to include nonaeronautical activities, it has come up with a masterplan to turn what is currently oil palm plantation into the KLIA Aeropolis – an airport city accommodating buildings in keeping with KLIA’s sleek, modern design.
MAHB general manager of land development Muhd Najib Mohd Rawi said the site to be developed over the next 10 to 15 years has the advantage of being close to two major international gateways – the KLIA as well as the Low Cost Carrier Terminal.
The masterplan, he explained, provides for commercial buildings covering 1,000 acres, landscaped parks over 600 acres, a pair of 18-hole golf courses over another 600 acres, a stadium on 25 acres and a theme park to rival those in Genting Highlands or Sentosa Island in Singapore over 100 acres.
The initial phases of development will see the infrastructure in the commercial zone as well as an exposition and convention centre, retail outlets and purpose-built offices being built.
To attract developers and investors, MAHB will build a transport node similar to KL Sentral which will allow the Aeropolis’s occupants to be conveniently connected to the airport and KL city.
Altogether, MAHB has 18,000 acres in Sepang, with a substantial part classified under oil palm.
By The New Straits Times
September 26, 2008
Mayland builds its strength on choice locations
Mayland's buyers have always looked to the company to give them developments that not only cater for their needs but are also sound investment decisions, says its executive director
MALAYSIA Land Properties Bhd (Mayland) is confident it can hold its own against the increasing number of developers venturing into the high-end market.
"There are many players in this segment now, but we are unique because of the landbank that we have in choice locations," Mayland executive director Yeo Chung Sing told Business Times.
In recent years, Mayland has launched a number of high-end condominium developments along Jalan Kuching in Kuala Lumpur, a stone's throw from the city centre.
The Regalia, launched last year, is located behind The Mall.
Its latest development, Royal Regent, is off Jalan Kuching as well and near its Putramas development.
"I believe our pricing, from RM330 per sq ft, makes the Royal Regent very competitive considering that we are just 10 minutes away from property which is selling at RM2,000 per sq ft," Yeo said.
The ideal location has enabled the group to sell 30 per cent of the 471 units on offer even before the development was launched last Thursday.
Royal Regent's gross development value is RM300 million.
"Our buyers have always looked to us to give them developments that not only cater for their needs but are also sound investment decisions," Yeo said.
The Royal Regent's five-storey clubhouse and three condominium blocks hold the promise of being a one-of-a-kind development.
"We have spent some RM10 million on the landscaping and clubhouse alone to ensure that buyers get a premium-value product."
There will also be 16 duplex penthouses in the development.
Yeo said the group is moving ahead with its more than RM1.2 billion worth of launches this year despite the increasing prices of building materials and the somewhat dampened economic outlook.
Mayland has revised the pricing for several of its projects to take into account the almost 30 per cent increase in cost of construction materials, he added.
By New Strait Times
MALAYSIA Land Properties Bhd (Mayland) is confident it can hold its own against the increasing number of developers venturing into the high-end market.
"There are many players in this segment now, but we are unique because of the landbank that we have in choice locations," Mayland executive director Yeo Chung Sing told Business Times.
In recent years, Mayland has launched a number of high-end condominium developments along Jalan Kuching in Kuala Lumpur, a stone's throw from the city centre.
The Regalia, launched last year, is located behind The Mall.
Its latest development, Royal Regent, is off Jalan Kuching as well and near its Putramas development.
"I believe our pricing, from RM330 per sq ft, makes the Royal Regent very competitive considering that we are just 10 minutes away from property which is selling at RM2,000 per sq ft," Yeo said.
The ideal location has enabled the group to sell 30 per cent of the 471 units on offer even before the development was launched last Thursday.
Royal Regent's gross development value is RM300 million.
"Our buyers have always looked to us to give them developments that not only cater for their needs but are also sound investment decisions," Yeo said.
The Royal Regent's five-storey clubhouse and three condominium blocks hold the promise of being a one-of-a-kind development.
"We have spent some RM10 million on the landscaping and clubhouse alone to ensure that buyers get a premium-value product."
There will also be 16 duplex penthouses in the development.
Yeo said the group is moving ahead with its more than RM1.2 billion worth of launches this year despite the increasing prices of building materials and the somewhat dampened economic outlook.
Mayland has revised the pricing for several of its projects to take into account the almost 30 per cent increase in cost of construction materials, he added.
By New Strait Times
September 25, 2008
Good grip
How to choose a wrought iron grille, gate, railing and steel maker?
Here are six steps in choosing a good wrought iron supplier:
1) Ensure that the supplier is an established company with a long history. Ask for their work records and project list. Long established companies would have plenty to show you.
2) An established company would have products that are manufactured but have not been installed. Don't be deceived by showroom samples so it's wise to request to see its products.
3) Request to view the factory. This will help determine the supplier is an actual maker and not just a middleman.
4) Request to see photographs of the work they've done. Pictures of gates and ready printed books are signs that the company is either new or is just a middleman.
5) Ensure that all items are quoted in proper format. All items should be itemised and not given as a lump sum.
6) Check the locks that are included. Request to see the locks that are given with your door grille, this is because many companies may provide inferior locks. Also, ensure that the emergency window is included in your quotation.
Here are six steps in choosing a good wrought iron supplier:
1) Ensure that the supplier is an established company with a long history. Ask for their work records and project list. Long established companies would have plenty to show you.
2) An established company would have products that are manufactured but have not been installed. Don't be deceived by showroom samples so it's wise to request to see its products.
3) Request to view the factory. This will help determine the supplier is an actual maker and not just a middleman.
4) Request to see photographs of the work they've done. Pictures of gates and ready printed books are signs that the company is either new or is just a middleman.
5) Ensure that all items are quoted in proper format. All items should be itemised and not given as a lump sum.
6) Check the locks that are included. Request to see the locks that are given with your door grille, this is because many companies may provide inferior locks. Also, ensure that the emergency window is included in your quotation.
Going for syariah-compliant investors
Axis REIT Managers Bhd aims to attract syariah-compliant investors following its reclassification as an Islamic real estate investment trust (REIT) from a conventional REIT.
Axis REIT Managers chief executive officer Stewart LaBrooy said many syariah-compliant investors had shown interest to take positions in Axis REIT in view of its good performance over the past few years.
“We can now attract the sector of the market that was previously close to us including Lembaga Tabung Haji, Lembaga Tabung Angkatan Tentera and Federal Land Development Authority,” he told reporters after a meeting with unit holders yesterday.
Unit holders have approved the reclassification exercise as well as a proposed placement exercise to increase Axis REIT’s existing fund size to a maximum of 307.1 million units from 255.9 million units.
The reclassification, which was expected to be completed by mid-December, would increase its investor base and attract a larger pool of funds for Axis REIT to grow, said LaBrooy, adding that the fund’s retail investor base had increased by 55% to 1,455 investors now compared with 941 investors in 2006.
“REITs have finally started to appeal to retail investors, which we think will be the main market,” said LaBrooy.
Meanwhile, the proposed placement exercise would also improve its liquidity in the Malaysian market as well as enable Axis REIT to pare down its borrowings, he said.
Axis REIT anticipates its bank borrowings to exceed 40% of its total assets from its future acquisitions
“Acquisition of high-quality yield accretive properties has been the focus in growing our portfolio,” said LaBrooy, noting that its seven acquisitions earlier this year would provide an average net yield of 4.13%.
Additionally, the acquisitions would contribute an additional dividend per unit (DPU) of 1.318 sen for 2008 and 2.474 sen for 2009, he said.
Axis REIT has forecasted a DPU of 15.18 sen for FY2008 and 16.59 sen for FY2009.
By The Star
Axis REIT Managers chief executive officer Stewart LaBrooy said many syariah-compliant investors had shown interest to take positions in Axis REIT in view of its good performance over the past few years.
“We can now attract the sector of the market that was previously close to us including Lembaga Tabung Haji, Lembaga Tabung Angkatan Tentera and Federal Land Development Authority,” he told reporters after a meeting with unit holders yesterday.
Unit holders have approved the reclassification exercise as well as a proposed placement exercise to increase Axis REIT’s existing fund size to a maximum of 307.1 million units from 255.9 million units.
The reclassification, which was expected to be completed by mid-December, would increase its investor base and attract a larger pool of funds for Axis REIT to grow, said LaBrooy, adding that the fund’s retail investor base had increased by 55% to 1,455 investors now compared with 941 investors in 2006.
“REITs have finally started to appeal to retail investors, which we think will be the main market,” said LaBrooy.
Meanwhile, the proposed placement exercise would also improve its liquidity in the Malaysian market as well as enable Axis REIT to pare down its borrowings, he said.
Axis REIT anticipates its bank borrowings to exceed 40% of its total assets from its future acquisitions
“Acquisition of high-quality yield accretive properties has been the focus in growing our portfolio,” said LaBrooy, noting that its seven acquisitions earlier this year would provide an average net yield of 4.13%.
Additionally, the acquisitions would contribute an additional dividend per unit (DPU) of 1.318 sen for 2008 and 2.474 sen for 2009, he said.
Axis REIT has forecasted a DPU of 15.18 sen for FY2008 and 16.59 sen for FY2009.
By The Star
September 23, 2008
SBC plans two more projects
They will raise gross development value to RM1bil
SBC Corp Bhd aims to launch two mixed development projects with an estimated total gross development value (GDV) of RM800mil by next year in southern Selangor and along Jalan Kuching, Kuala Lumpur.
“We estimate our future projects over the next five years, inclusive of these two projects, to have total GDV in excess of RM1bil,” said managing director Sia Teong Heng after the company’s AGM yesterday.
SBC’s future projects would be “integrated” with transport links such as the light-rail transit, he added.
He cited the success of the company’s PJ Exchange (PJX) office tower project in Petaling Jaya which has attracted requests from corporate clients to replicate the model.
“We are currently in talks with a few parties and hope to close some deals by next year,” he said.
In view of the softening property sector and rising raw material prices, Sia said SBC planned to overcome that problem by looking out for good locations.
“We are working hard to look at some good locations and we believe that long-term investors would invest in good locations,” he said.
SBC currently has a total landbank in excess of 700 acres in the Klang Valley and Kota Kinabalu, Sabah.
On overseas markets, Sia said the company would continue to explore opportunities in Bangkok but had no immediate plans to go beyond Thailand.
By The Star
SBC Corp Bhd aims to launch two mixed development projects with an estimated total gross development value (GDV) of RM800mil by next year in southern Selangor and along Jalan Kuching, Kuala Lumpur.
“We estimate our future projects over the next five years, inclusive of these two projects, to have total GDV in excess of RM1bil,” said managing director Sia Teong Heng after the company’s AGM yesterday.
SBC’s future projects would be “integrated” with transport links such as the light-rail transit, he added.
He cited the success of the company’s PJ Exchange (PJX) office tower project in Petaling Jaya which has attracted requests from corporate clients to replicate the model.
“We are currently in talks with a few parties and hope to close some deals by next year,” he said.
In view of the softening property sector and rising raw material prices, Sia said SBC planned to overcome that problem by looking out for good locations.
“We are working hard to look at some good locations and we believe that long-term investors would invest in good locations,” he said.
SBC currently has a total landbank in excess of 700 acres in the Klang Valley and Kota Kinabalu, Sabah.
On overseas markets, Sia said the company would continue to explore opportunities in Bangkok but had no immediate plans to go beyond Thailand.
By The Star
Mah Sing wins three awards
Mah Sing Group Bhd has won three awards at the Euromoney Liquid Real Estate Awards 2008 event, including the highest honour of the Top Developer Overall Malaysia.
In a statement, Mah Sing said the other two awards were the Best Office/Business Developer Malaysia and the Best Mixed-Use Developer Malaysia.
The award ceremony will held as a gala dinner in London on Oct 2. Selection of winners is based on surveys and assessment of the real estate sector’s performance and achievement over the past year.
“It is a testament to the talent and hard work of our entire organisation, to build a leadership position for Mah Sing and the quest to be a regional, world-class developer,” group managing director and group chief executive Datuk Seri Leong Hoy Kum, said.
The company said the top developer award was the single most important category for developers and honoured only one company in each country.
“The recognition is attributable to Mah Sing being a consistent provider of high quality and profitable real estate projects,” it added.
Mah Sing currently has 14 projects in the Klang Valley, Johor Baru and Penang.
By The Star
In a statement, Mah Sing said the other two awards were the Best Office/Business Developer Malaysia and the Best Mixed-Use Developer Malaysia.
The award ceremony will held as a gala dinner in London on Oct 2. Selection of winners is based on surveys and assessment of the real estate sector’s performance and achievement over the past year.
“It is a testament to the talent and hard work of our entire organisation, to build a leadership position for Mah Sing and the quest to be a regional, world-class developer,” group managing director and group chief executive Datuk Seri Leong Hoy Kum, said.
The company said the top developer award was the single most important category for developers and honoured only one company in each country.
“The recognition is attributable to Mah Sing being a consistent provider of high quality and profitable real estate projects,” it added.
Mah Sing currently has 14 projects in the Klang Valley, Johor Baru and Penang.
By The Star
September 21, 2008
SunCity delays launch of REIT to next year
Sunway City Bhd (SunCity) will delay the launch of its real estate investment trust (REIT) to next year on current weak market sentiment, says HwangDBS Vickers Research.
“We expect the REIT to be delayed again but it should be at a better value,” it said in a report yesterday.
The research house said the listing was likely to be in Malaysia (instead of Singapore) as all SunCity’s RM3bil assets were based in Malaysia and the recent positive policy changes to improve Malaysian REITs’ competitiveness vis-à-vis regional peers.
“SunCity would likely maintain a 33% stake in SunCity-REIT while we expect GIC (Government Invest Corp of Singapore) to take up a sizeable stake as well,” it said.
Assuming SunCity-REIT is launched next year at 7.7% yield, HwangDBS Vickers expected a one-off gain on disposal of RM29mil.
“Although our expected yield of 7.7% is at a premium to the sector, we believe it is justifiable given SunCity-REIT’s size and its potential RM3bil pipeline,” it said.
HwangDBS Vickers said SunCity-REIT had the potential to double its asset size to RM5.5bil, almost on par with some of the mid-sized Singapore REITs.
“We have applied a 7% yield to value Sunway Pyramid (a SunCity asset), based on Country Heights’ sale of Mines Shopping Fair (a retail mall inSeri Kembangan) to CapitaLand in August 2007.”
By The Star
“We expect the REIT to be delayed again but it should be at a better value,” it said in a report yesterday.
The research house said the listing was likely to be in Malaysia (instead of Singapore) as all SunCity’s RM3bil assets were based in Malaysia and the recent positive policy changes to improve Malaysian REITs’ competitiveness vis-à-vis regional peers.
“SunCity would likely maintain a 33% stake in SunCity-REIT while we expect GIC (Government Invest Corp of Singapore) to take up a sizeable stake as well,” it said.
Assuming SunCity-REIT is launched next year at 7.7% yield, HwangDBS Vickers expected a one-off gain on disposal of RM29mil.
“Although our expected yield of 7.7% is at a premium to the sector, we believe it is justifiable given SunCity-REIT’s size and its potential RM3bil pipeline,” it said.
HwangDBS Vickers said SunCity-REIT had the potential to double its asset size to RM5.5bil, almost on par with some of the mid-sized Singapore REITs.
“We have applied a 7% yield to value Sunway Pyramid (a SunCity asset), based on Country Heights’ sale of Mines Shopping Fair (a retail mall inSeri Kembangan) to CapitaLand in August 2007.”
By The Star
September 17, 2008
Ireka has buffer to counter material costs
Order book of RM1.14bil to keep it busy until 2011
Ireka Corp Bhd, whose construction order book has surpassed the RM1bil mark, has a “healthy buffer against the volatile prices of raw materials,” said group managing director Lai Siew Wah.
With an order book worth RM1.14bil, the company would be kept busy through to 2011.
“Since most of our contracts do not allow for a variation of price (VOP) option, we have built in a healthy buffer in case material prices go up,” Lai said.
The current easing in the prices of some raw materials such as steel was a “good sign”, he said, adding that “we are actively managing the costs.”
And with a healthy gearing of 0.3 and a locked-in order book, Lai said the company was in a good position to weather tough times, hence, prospects looked “quite bright” for the next two to three years.
Ireka’s current portfolio of construction works include luxury condominium projects in Mont’ Kiara namely, Tiffani by i-ZEN and SENI Mont’ Kiara and the Sandakan Harbour Square urban renewal project.
Lai said the company would continue to bid for new projects although it was being “very selective” given these trying times.
Asked to elaborate, he said: “We have actually pre-qualified for two (local) projects but it is too preliminary to reveal details.”
As for overseas plans, he said Ireka would continue to look for opportunities in the Asian region.
“Vietnam is where we are currently focused on. We have been studying the market for the last two years and established a good network of contacts there,” Lai said.
For the financial year ended March 31, the group made a net profit of RM152.9mil on revenue of RM299.7mil.
It also announced a dividend policy to distribute at least 40% of its net earnings to shareholders.
By the Star
Ireka Corp Bhd, whose construction order book has surpassed the RM1bil mark, has a “healthy buffer against the volatile prices of raw materials,” said group managing director Lai Siew Wah.
With an order book worth RM1.14bil, the company would be kept busy through to 2011.
“Since most of our contracts do not allow for a variation of price (VOP) option, we have built in a healthy buffer in case material prices go up,” Lai said.
The current easing in the prices of some raw materials such as steel was a “good sign”, he said, adding that “we are actively managing the costs.”
And with a healthy gearing of 0.3 and a locked-in order book, Lai said the company was in a good position to weather tough times, hence, prospects looked “quite bright” for the next two to three years.
Ireka’s current portfolio of construction works include luxury condominium projects in Mont’ Kiara namely, Tiffani by i-ZEN and SENI Mont’ Kiara and the Sandakan Harbour Square urban renewal project.
Lai said the company would continue to bid for new projects although it was being “very selective” given these trying times.
Asked to elaborate, he said: “We have actually pre-qualified for two (local) projects but it is too preliminary to reveal details.”
As for overseas plans, he said Ireka would continue to look for opportunities in the Asian region.
“Vietnam is where we are currently focused on. We have been studying the market for the last two years and established a good network of contacts there,” Lai said.
For the financial year ended March 31, the group made a net profit of RM152.9mil on revenue of RM299.7mil.
It also announced a dividend policy to distribute at least 40% of its net earnings to shareholders.
By the Star
Australia lures property funds
Sydney: with US $12 billion (US $1 = RM 3.45) of commercial buildings up for grabs and its currency weakening, Australia is becoming a prime target for global funds keen to snap bargains offloaded by troubled property trusts.
The Australian commercial property market, long dominated by local players, has held its value because of low vacancy rates. But highly leveraged real estate investment trusts are in trouble because the global credit crunch has raised borrowing costs.
Cashed-up Middle East investors and German funds with low risk, low return expectations are sniffing out deals, according to Robert White, president of New York based research film Real Capital Analytics.
"A lot of investors want to invest in Asia-Pacific for allocation reasons but they are scared of China, and there are limited opportunities in other markets," White said. " So Australia has emerged as a very attractive markets for Germans, for Middle-East investors."
Australian developer Ashington said this month that it was seeking foreign investors to stump up a A$ 200 million (A$ 1= RM 2.74) fund to buy buildings during what it believes will be a short windows in 2009 for bargain hunting.
And Abu Dhabi Investment Authority, the world is largest sovereign wealth fund, wants to expand its property portfolio in Australia, according to UAE newpapers reports.
About A$ 15 billion worth of assets up for sale in Australia, according to consulatants DTZ. And Australian property firms, which have traditionally relied on superannuation pension funds, are aslo looking to partner with foreign funds to broaden their capital base.
Although global funds are drawn to high growth markets such as China and India, many conclude that Australia offers the best returna compared to risk, according to Alistair Meadows, a director at DTZ.
Australia, where nearly 70 per cent of investment grade buildings are securitised, ranks second in the world for property market transparency, behind Canada, according to a Jones Lang Lasalle index.
By NEW STRAITS TIMES
The Australian commercial property market, long dominated by local players, has held its value because of low vacancy rates. But highly leveraged real estate investment trusts are in trouble because the global credit crunch has raised borrowing costs.
Cashed-up Middle East investors and German funds with low risk, low return expectations are sniffing out deals, according to Robert White, president of New York based research film Real Capital Analytics.
"A lot of investors want to invest in Asia-Pacific for allocation reasons but they are scared of China, and there are limited opportunities in other markets," White said. " So Australia has emerged as a very attractive markets for Germans, for Middle-East investors."
Australian developer Ashington said this month that it was seeking foreign investors to stump up a A$ 200 million (A$ 1= RM 2.74) fund to buy buildings during what it believes will be a short windows in 2009 for bargain hunting.
And Abu Dhabi Investment Authority, the world is largest sovereign wealth fund, wants to expand its property portfolio in Australia, according to UAE newpapers reports.
About A$ 15 billion worth of assets up for sale in Australia, according to consulatants DTZ. And Australian property firms, which have traditionally relied on superannuation pension funds, are aslo looking to partner with foreign funds to broaden their capital base.
Although global funds are drawn to high growth markets such as China and India, many conclude that Australia offers the best returna compared to risk, according to Alistair Meadows, a director at DTZ.
Australia, where nearly 70 per cent of investment grade buildings are securitised, ranks second in the world for property market transparency, behind Canada, according to a Jones Lang Lasalle index.
By NEW STRAITS TIMES
IJM Land listing new shares and warrants
IJM Land Bhd’s new 454.55 million rights shares and 227.27 million new warrants will be listed and quoted on Bursa Malaysia today.
Bursa Malaysia Securities said yesterday that 80.5 million additional new shares would be listed under the company’s recent corporate exercise.
The 454.55 million rights shares of RM1 each were issued together with 227.27 million warrants at an issue price of RM1.35 on the basis of four rights shares and two warrants for every five shares held.
As for the 80.5 million additional new RM1 shares, they were issued pursuant to the acquisition of a 30% stake in RB Land Sdn Bhd from Reco Homebuilder (M) Sdn Bhd.
By the Star
Bursa Malaysia Securities said yesterday that 80.5 million additional new shares would be listed under the company’s recent corporate exercise.
The 454.55 million rights shares of RM1 each were issued together with 227.27 million warrants at an issue price of RM1.35 on the basis of four rights shares and two warrants for every five shares held.
As for the 80.5 million additional new RM1 shares, they were issued pursuant to the acquisition of a 30% stake in RB Land Sdn Bhd from Reco Homebuilder (M) Sdn Bhd.
By the Star
September 16, 2008
Ceramic Home awards job to China firm
Property developer Ceramic Home Tiles Sdn Bhd has awarded the building works for its Pearl KLCC project to Beijing Urban Construction Group Co Ltd (BUCG), one of China’s top 10 construction companies.
The project works with an estimated value of RM280mil would include the development of one block 177-unit luxury condominium in Jalan Stonor, Kuala Lumpur, director Ahmad Lazri Long said.
“BUCG was selected based on its world-class expertise as the company was the lead contractor on the main stadium for the 2008 Beijing Olympics,” he told a recent media briefing.
Pearl KLCC covers 1.77-acre freehold land with units available ranging from 3,000 to 20,000 sq ft, with each floor having six units and private lift lobby and view of the KLCC and the Petronas Twin Tower.
The contract signing was witnessed by Datuk K. Salman Younis, managing director Kuwait Finance House (M) Bhd which acts as a financier of the project through a special-purpose vehicle company, Flora Bliss Development Sdn Bhd.
Ahmad Lazri said Malton Bhd’s wholly-owned subsidiary Domain Resources Sdn Bhd had been appointed project development manager.
Domain Resources senior project director H.K. Tan said the project was expected to complete construction by the fourth quarter of 2010.
The project marked BUCG’s first venture into the Malaysian property market, said assistant president and senior engineer Andy Zhao said.
Besides Malaysia, the company also has a presence in Singapore, Thailand, Vietnam, the Middle East and South Africa
By The Star
The project works with an estimated value of RM280mil would include the development of one block 177-unit luxury condominium in Jalan Stonor, Kuala Lumpur, director Ahmad Lazri Long said.
“BUCG was selected based on its world-class expertise as the company was the lead contractor on the main stadium for the 2008 Beijing Olympics,” he told a recent media briefing.
Pearl KLCC covers 1.77-acre freehold land with units available ranging from 3,000 to 20,000 sq ft, with each floor having six units and private lift lobby and view of the KLCC and the Petronas Twin Tower.
The contract signing was witnessed by Datuk K. Salman Younis, managing director Kuwait Finance House (M) Bhd which acts as a financier of the project through a special-purpose vehicle company, Flora Bliss Development Sdn Bhd.
Ahmad Lazri said Malton Bhd’s wholly-owned subsidiary Domain Resources Sdn Bhd had been appointed project development manager.
Domain Resources senior project director H.K. Tan said the project was expected to complete construction by the fourth quarter of 2010.
The project marked BUCG’s first venture into the Malaysian property market, said assistant president and senior engineer Andy Zhao said.
Besides Malaysia, the company also has a presence in Singapore, Thailand, Vietnam, the Middle East and South Africa
By The Star
September 15, 2008
Talam to exit PN17 next year
Its revamp plan will cut debts to RM400mil
Talam Corp Bhd is aiming to get out of the financially troubled status of Practice Note 17 by January next year after shareholders approved its debt restructuring and turnaround plan yesterday.
The plan involves the issuance of Islamic debt securities, preference shares and loan stocks, and hiving off non-core assets.
Executive director Chua Kim Lan said the exercise would cut the group’s debts to about RM400mil from more than RM740mil currently.
“And with this revamp plan, Talam would be able to reduce its gearing ratio to 0.7 from 2.37 in the financial year ended Jan 31 (FY08). Paid up capital will be RM800mil,” she said after the company’s EGM yesterday.
“We (will) progressively divest our non-core investment businesses such as colleges, shopping centres and hotels. As long as the price is right we will sell the business for the purpose of working capital and loan reduction,” she said, adding that Talam was also looking into selling its commercial and industry land.
Talam has a landbank of about 4 thousand acres in Selangor, excluding joint venture (JV) land, located mainly in Puchong and Bukit Beruntung.
On the group’s stalled housing projects, Chua said almost all of the 10,000 previously abandoned housing units would be completed by end-2009 with an unbilled gross development value (GDV) of RM800mil. Last year, Talam awarded IJM Construction Sdn Bhd (IJMC) two contracts valued at RM700mil and RM125mil respectively to complete its abandoned housing projects.
Talam also has a JV with IJMC to develop a 35-storey residential and commercial project in Changchun, China.
“The project, which is now constructed up to eight-storeys, is expected to be launched in the third quarter of 2009. The GDV is about RM500mil,” she said, adding that Talam and its partners were looking for more integrated development projects in China.
By the Star
Talam Corp Bhd is aiming to get out of the financially troubled status of Practice Note 17 by January next year after shareholders approved its debt restructuring and turnaround plan yesterday.
The plan involves the issuance of Islamic debt securities, preference shares and loan stocks, and hiving off non-core assets.
Executive director Chua Kim Lan said the exercise would cut the group’s debts to about RM400mil from more than RM740mil currently.
“And with this revamp plan, Talam would be able to reduce its gearing ratio to 0.7 from 2.37 in the financial year ended Jan 31 (FY08). Paid up capital will be RM800mil,” she said after the company’s EGM yesterday.
“We (will) progressively divest our non-core investment businesses such as colleges, shopping centres and hotels. As long as the price is right we will sell the business for the purpose of working capital and loan reduction,” she said, adding that Talam was also looking into selling its commercial and industry land.
Talam has a landbank of about 4 thousand acres in Selangor, excluding joint venture (JV) land, located mainly in Puchong and Bukit Beruntung.
On the group’s stalled housing projects, Chua said almost all of the 10,000 previously abandoned housing units would be completed by end-2009 with an unbilled gross development value (GDV) of RM800mil. Last year, Talam awarded IJM Construction Sdn Bhd (IJMC) two contracts valued at RM700mil and RM125mil respectively to complete its abandoned housing projects.
Talam also has a JV with IJMC to develop a 35-storey residential and commercial project in Changchun, China.
“The project, which is now constructed up to eight-storeys, is expected to be launched in the third quarter of 2009. The GDV is about RM500mil,” she said, adding that Talam and its partners were looking for more integrated development projects in China.
By the Star
September 14, 2008
Seri Putra, Bangi
Welcome to Rimbun Suria for a nature- Inspired living
It is time to make a choice as in where and how you wannt to live. Come to the Rimbun Suria and the choice will be obvious. Beautifully designed homes inspired by nature and set in a back drop of harmonius community with diverse ammenities.
Project Name: Seri Putra, Bangi (Double Storey Terrace)
Developer: Bangi Heights Development Sdn Bhd
Date of Completion: August 2010
Total Units: 84
Land Tenure: Freehold
Price range: Rm 286,000 to Rm 660,000
Three type of floor plan
- Meranti ~~ 22' x 70' (1,741 built up area)
- Sena ~~ 24' x 70' (1,970 built up area)
- Cengal ~~ 26' x 70' (2,142 built up area)
Specifications for Type Meranti
STRUCTURE
-Reinforced concrete structure
WALL
-Brickwork with cement plaster
ROOF COVERING
-Concrete roof tiles
ROOF FRAMING
-Timber roof trusses
CEILING
-Skim coat / Cement Board
WINDOWS
-Aluminium framed glass casement windows
-Aluminium framed glass top hung windows
-Aluminium framed glass louvers windows
-Aluminium framed fixed glass windows
DOORS
-Entrance
**Timber frame decorative solid door
-Store
**Metal frame timber louvred
**Plywood flush door
-Others
**Metal frame timber louvred door
**Metal frame plywood flush door
**Aluminium frame glass sliding door
IRONMONGERY
-Quality lockset
FLOOR FINISHES
-Living & dining rooms
**Ceramic Tiles
-Kitchen & Bathrooms
**Ceramic Tiles
-All Bedrooms
**Ceramic Tiles
-Staircase & Family Area
**Ceramic Tiles
-Car Porch & Terraces
**Homogeneous Tiles
-Utility, Store & Yard
**Cement render
WALL FINISHES
-External wall
**Weather resistant paint
-Internal wall
**Emulsion paint
-Bathrooms
**Ceramic wall tiles at ceiling height.
-Kitchen
**Ceramic wall tiles at 1500mm height
SANITARY & PLUMBING FITTINGS
Type A /A1 & Type A2
-Kitchen sink
**1 nos
-Water closet
**3 nos
-Wash hand basin
**3 nos
-Soap holder
**3 nos
-Toilet roll holder
**3 nos
-Shower rose
**3 nos
-Bip tap
**4 nos
-Garden tap
**1 nos
ELECTRICAL INSTALLATION
Type A/A1 &Type A2
-Light point
**20 nos (Type A/A1)
**21 nos (Type A2)
-Gate light point
**1 nos
-Power point
**17 nos
-TV point
**2 nos
-Ceiling fan point
**5 nos
-Telephone point
**2 nos
-Air-conditioner point
**2 nos
-Water-heater point
**1 nos
-Gate bell point
**1 nos
FENCING
-Low brick wall with M. S. Grille (front)
-Chain link fencing (back)
Specifications for Type Sena
STRUCTURE
-Reinforced concrete structure
WALL
-Brickwork with cement plaster
ROOFING COVERING
-Concrete roof tiles
ROOF FRAMING
-Timber roof truss
CEILING
-Skim coat / Cement Board
WINDOWS
-Aluminium framed glass casement windows
-Aluminium framed glass top hung windows
-Aluminium framed glass louvers windows
-Aluminium framed fixed glass windows
DOORS
-Entrance
**Timber frame decorative solid door
-Store
**Metal frame timber louvred
-Others
**Metal frame timber louvred door
**Metal frame plywood flush door
**Aluminium frame glass sliding door
IRONMONGERY
-Quality lockset
FLOOR FINISHES
-Living & dining rooms
**Ceramic Tiles
-Kitchen & Bathrooms
**Ceramic Tiles
-All Bedrooms
**Ceramic Tiles
-Staircase & Family Area
**Ceramic Tiles
-Car Porch & Terraces
**Homogeneous Tiles
-Utility, Store & Yard
**Cement render
WALL FINISHES
-External wall
**Weather resistant paint
-Internal wall
**Emulsion paint
-Bathrooms
**Ceramic wall tiles at ceiling height.
-Kitchen
**Ceramic wall tiles at 1500mm height
SANITARY & PLUMBING FITTINGS
Type B / B1 / B2 & Type B3
-Kitchen sink
**1 nos
-Water closet
**3 nos
-Wash hand basin
**3 nos
-Soap holder
**3 nos
-Toilet roll holder
**3 nos
-Shower rose
**3 nos
-Bip tap
**4 nos
-Garden tap
**1 nos
ELECTRICAL INSTALLATION
Type B / B1 / B2 & Type B3
-Light point
**22 nos (Type B / B1 / B2 )
** 23 nos (Type B3)
-Gate light point
**1 nos
-Power point
**17 nos
-TV point
**2 nos
-Ceiling fan point
**5 nos
-Telephone point
**2 nos
-Air-conditioner point
**2 nos
-Water-heater point
**1 nos
-Gate bell point
**1 nos
FENCING
Low brick wall with M. S. Grille (front)
Chain link fencing (back)
Specifications for Type Cengal
STRUCTURE
-Reinforced concrete structure
WALL
-Brickwork with cement plaster
ROOFING COVERING
-Concrete roof tiles
ROOF FRAMING
-Timber roof trusses
CEILING
-Skim coat / Cement Board
WINDOWS
-Aluminium framed glass casement windows
-Aluminium framed glass top hung windows
-Aluminium framed glass louvers window
-Aluminium framed fixed glass windows
DOORS
-Entrance
**Timber frame decorative solid door
-Store
**Metal frame timber louvred
-Others
**Metal frame timber louvred door
**Metal frame plywood flush door
**Aluminium frame glass sliding door
IRONMONGERY
-Quality lockset
FLOOR FINISHES
-Living & dining rooms
**Ceramic Tiles
-Kitchen & Bathrooms
**Ceramic Tiles
-All Bedrooms
**Ceramic Tiles
-Staircase & Family Area
**Ceramic Tiles
-Car Porch & Terraces
**Homogeneous Tiles
-Utility, Store & Yard
**Cement render
WALL FINISHES
-External wall
**Weather resistant paint
-Internal wall
**Emulsion paint
-Bathrooms
**Ceramic wall tiles at ceiling height.
-Kitchen
**Ceramic wall tiles at 1500mm height
SANITARY & PLUMBING FITTINGS
Type C / C1 / C2 & Type C3
-Kitchen sink
**1 nos
-Water closet
**3 nos
-Wash hand basin
**3 nos
-Soap holder
**3 nos
-Toilet roll holder
**3 nos
-Shower rose
**3 nos
-Bip tap
**4 nos
-Garden tap
**1 nos
ELECTRICAL INSTALLATION
Type C / C1 / C2 & Type C3
-Light point
**22 nos (Type C / C1 / C2)
**23 nos (Type C3)
-Gate light point
**1 nos
-Power point
**17 nos
-TV point
**2 nos
-Ceiling fan point
**5 nos
-Telephone point
**2 nos
-Air-conditioner point
**2 nos
-Water-heater point
**1 nos
-Gate bell point
**1 nos
FENCING
-Low brick wall with M. S. Grille (front)
-Chain link fencing (back)
It is time to make a choice as in where and how you wannt to live. Come to the Rimbun Suria and the choice will be obvious. Beautifully designed homes inspired by nature and set in a back drop of harmonius community with diverse ammenities.
Project Name: Seri Putra, Bangi (Double Storey Terrace)
Developer: Bangi Heights Development Sdn Bhd
Date of Completion: August 2010
Total Units: 84
Land Tenure: Freehold
Price range: Rm 286,000 to Rm 660,000
Three type of floor plan
- Meranti ~~ 22' x 70' (1,741 built up area)
- Sena ~~ 24' x 70' (1,970 built up area)
- Cengal ~~ 26' x 70' (2,142 built up area)
Specifications for Type Meranti
STRUCTURE
-Reinforced concrete structure
WALL
-Brickwork with cement plaster
ROOF COVERING
-Concrete roof tiles
ROOF FRAMING
-Timber roof trusses
CEILING
-Skim coat / Cement Board
WINDOWS
-Aluminium framed glass casement windows
-Aluminium framed glass top hung windows
-Aluminium framed glass louvers windows
-Aluminium framed fixed glass windows
DOORS
-Entrance
**Timber frame decorative solid door
-Store
**Metal frame timber louvred
**Plywood flush door
-Others
**Metal frame timber louvred door
**Metal frame plywood flush door
**Aluminium frame glass sliding door
IRONMONGERY
-Quality lockset
FLOOR FINISHES
-Living & dining rooms
**Ceramic Tiles
-Kitchen & Bathrooms
**Ceramic Tiles
-All Bedrooms
**Ceramic Tiles
-Staircase & Family Area
**Ceramic Tiles
-Car Porch & Terraces
**Homogeneous Tiles
-Utility, Store & Yard
**Cement render
WALL FINISHES
-External wall
**Weather resistant paint
-Internal wall
**Emulsion paint
-Bathrooms
**Ceramic wall tiles at ceiling height.
-Kitchen
**Ceramic wall tiles at 1500mm height
SANITARY & PLUMBING FITTINGS
Type A /A1 & Type A2
-Kitchen sink
**1 nos
-Water closet
**3 nos
-Wash hand basin
**3 nos
-Soap holder
**3 nos
-Toilet roll holder
**3 nos
-Shower rose
**3 nos
-Bip tap
**4 nos
-Garden tap
**1 nos
ELECTRICAL INSTALLATION
Type A/A1 &Type A2
-Light point
**20 nos (Type A/A1)
**21 nos (Type A2)
-Gate light point
**1 nos
-Power point
**17 nos
-TV point
**2 nos
-Ceiling fan point
**5 nos
-Telephone point
**2 nos
-Air-conditioner point
**2 nos
-Water-heater point
**1 nos
-Gate bell point
**1 nos
FENCING
-Low brick wall with M. S. Grille (front)
-Chain link fencing (back)
Specifications for Type Sena
STRUCTURE
-Reinforced concrete structure
WALL
-Brickwork with cement plaster
ROOFING COVERING
-Concrete roof tiles
ROOF FRAMING
-Timber roof truss
CEILING
-Skim coat / Cement Board
WINDOWS
-Aluminium framed glass casement windows
-Aluminium framed glass top hung windows
-Aluminium framed glass louvers windows
-Aluminium framed fixed glass windows
DOORS
-Entrance
**Timber frame decorative solid door
-Store
**Metal frame timber louvred
-Others
**Metal frame timber louvred door
**Metal frame plywood flush door
**Aluminium frame glass sliding door
IRONMONGERY
-Quality lockset
FLOOR FINISHES
-Living & dining rooms
**Ceramic Tiles
-Kitchen & Bathrooms
**Ceramic Tiles
-All Bedrooms
**Ceramic Tiles
-Staircase & Family Area
**Ceramic Tiles
-Car Porch & Terraces
**Homogeneous Tiles
-Utility, Store & Yard
**Cement render
WALL FINISHES
-External wall
**Weather resistant paint
-Internal wall
**Emulsion paint
-Bathrooms
**Ceramic wall tiles at ceiling height.
-Kitchen
**Ceramic wall tiles at 1500mm height
SANITARY & PLUMBING FITTINGS
Type B / B1 / B2 & Type B3
-Kitchen sink
**1 nos
-Water closet
**3 nos
-Wash hand basin
**3 nos
-Soap holder
**3 nos
-Toilet roll holder
**3 nos
-Shower rose
**3 nos
-Bip tap
**4 nos
-Garden tap
**1 nos
ELECTRICAL INSTALLATION
Type B / B1 / B2 & Type B3
-Light point
**22 nos (Type B / B1 / B2 )
** 23 nos (Type B3)
-Gate light point
**1 nos
-Power point
**17 nos
-TV point
**2 nos
-Ceiling fan point
**5 nos
-Telephone point
**2 nos
-Air-conditioner point
**2 nos
-Water-heater point
**1 nos
-Gate bell point
**1 nos
FENCING
Low brick wall with M. S. Grille (front)
Chain link fencing (back)
Specifications for Type Cengal
STRUCTURE
-Reinforced concrete structure
WALL
-Brickwork with cement plaster
ROOFING COVERING
-Concrete roof tiles
ROOF FRAMING
-Timber roof trusses
CEILING
-Skim coat / Cement Board
WINDOWS
-Aluminium framed glass casement windows
-Aluminium framed glass top hung windows
-Aluminium framed glass louvers window
-Aluminium framed fixed glass windows
DOORS
-Entrance
**Timber frame decorative solid door
-Store
**Metal frame timber louvred
-Others
**Metal frame timber louvred door
**Metal frame plywood flush door
**Aluminium frame glass sliding door
IRONMONGERY
-Quality lockset
FLOOR FINISHES
-Living & dining rooms
**Ceramic Tiles
-Kitchen & Bathrooms
**Ceramic Tiles
-All Bedrooms
**Ceramic Tiles
-Staircase & Family Area
**Ceramic Tiles
-Car Porch & Terraces
**Homogeneous Tiles
-Utility, Store & Yard
**Cement render
WALL FINISHES
-External wall
**Weather resistant paint
-Internal wall
**Emulsion paint
-Bathrooms
**Ceramic wall tiles at ceiling height.
-Kitchen
**Ceramic wall tiles at 1500mm height
SANITARY & PLUMBING FITTINGS
Type C / C1 / C2 & Type C3
-Kitchen sink
**1 nos
-Water closet
**3 nos
-Wash hand basin
**3 nos
-Soap holder
**3 nos
-Toilet roll holder
**3 nos
-Shower rose
**3 nos
-Bip tap
**4 nos
-Garden tap
**1 nos
ELECTRICAL INSTALLATION
Type C / C1 / C2 & Type C3
-Light point
**22 nos (Type C / C1 / C2)
**23 nos (Type C3)
-Gate light point
**1 nos
-Power point
**17 nos
-TV point
**2 nos
-Ceiling fan point
**5 nos
-Telephone point
**2 nos
-Air-conditioner point
**2 nos
-Water-heater point
**1 nos
-Gate bell point
**1 nos
FENCING
-Low brick wall with M. S. Grille (front)
-Chain link fencing (back)
September 11, 2008
Sienna Apartment, Australia
Looking for a home???
Looking for a interesting place for investment???
Or looking for a second chances?
L shaped to wrap the beautifully landscaped piazza of Travance, Australia, namely SIENNA Apartment could be a best selection for you. The apartment scheduled for completion at late 2010. Sienna Apartment is approximately 4km to the northwest of Melbourne's Central Business Distric (CBD).
This RM 348 Million or AUD $ 110 Million offers 238 units of apartment in 8 levels, which include 5 units of townhouses. Featuring an European style interior, the unit come in a floor space ranging from 52 meter square to 92 meter square, priced from RM 1.16 million. Sienne Apartment are 2 bedrooms with study area, which have 13 different floorplans for buyers to choice.
Each of the units featuring by the following item:
Services
- Reverse cycle air conditioning to living area
- Compact fluorescent lighting
- Pre wiring for TV point
- Pre installed TV antenna
- Car park allocated for each unit
Balconies
- Precast concrete panels with textured paint or render finish
- Screens
- Trowelled on coloured screed as a floor finish
Bathrooms
- Ceramic tiles, gloss finish as wall tiling
- Procelain tiles or similar as flooring
- Stainless steel toilet paper holder & soap holder
- Clear glassed shower screen
Kitchen
- Ceramic tiles, gloss finish as wall tiling
- Procelain tiles or similar as flooring
- European style kitchen appliances such as cook top with 4 burner, oven, range hood & dishwashes
Securites feature
- Gated community wity 24 hour security
- Audio-visual intercom system in each unit
- Secure lift
- Programmable Remote Control Security parking
- Security lighting at common areas
Surrounding facilities and amenities are quite convinient for buyers which include tram station, shopping complexes, F & B outlets, hopitals, universities and schools. This may leads to 6.5% as the estimated rental gurantee in 2 years.
Sienna is a smart, seruce and responsible way to enjoy life.
Looking for a interesting place for investment???
Or looking for a second chances?
L shaped to wrap the beautifully landscaped piazza of Travance, Australia, namely SIENNA Apartment could be a best selection for you. The apartment scheduled for completion at late 2010. Sienna Apartment is approximately 4km to the northwest of Melbourne's Central Business Distric (CBD).
This RM 348 Million or AUD $ 110 Million offers 238 units of apartment in 8 levels, which include 5 units of townhouses. Featuring an European style interior, the unit come in a floor space ranging from 52 meter square to 92 meter square, priced from RM 1.16 million. Sienne Apartment are 2 bedrooms with study area, which have 13 different floorplans for buyers to choice.
Each of the units featuring by the following item:
Services
- Reverse cycle air conditioning to living area
- Compact fluorescent lighting
- Pre wiring for TV point
- Pre installed TV antenna
- Car park allocated for each unit
Balconies
- Precast concrete panels with textured paint or render finish
- Screens
- Trowelled on coloured screed as a floor finish
Bathrooms
- Ceramic tiles, gloss finish as wall tiling
- Procelain tiles or similar as flooring
- Stainless steel toilet paper holder & soap holder
- Clear glassed shower screen
Kitchen
- Ceramic tiles, gloss finish as wall tiling
- Procelain tiles or similar as flooring
- European style kitchen appliances such as cook top with 4 burner, oven, range hood & dishwashes
Securites feature
- Gated community wity 24 hour security
- Audio-visual intercom system in each unit
- Secure lift
- Programmable Remote Control Security parking
- Security lighting at common areas
Surrounding facilities and amenities are quite convinient for buyers which include tram station, shopping complexes, F & B outlets, hopitals, universities and schools. This may leads to 6.5% as the estimated rental gurantee in 2 years.
Sienna is a smart, seruce and responsible way to enjoy life.
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