YTL has been approached by international hotel and resort owners with proposals to buy their properties, which are being studied now.
ENERGY, hotel and infrastructure conglomerate YTL Corp Bhd (4677) aims to buy under-performing hotels and resorts internationally and turn them around, despite fears that the global economic turbulence may worsen next year, executive director Datuk Mark Yeoh Seok Kah said.
"We have, in the last 10 years, successfully built a platform to where we are now. We are now entering a growth phase. Assets are getting cheap and there are a lot of opportunities to buy. Next year will be a hunting year followed by acquisition," Yeoh said.
Yeoh told Business Times in an interview in Kuala Lumpur recently that YTL has been approached by international hotel and resort owners with proposals to buy their properties, which are being studied now.
YTL, with its war chest of more than RM10 billion, is in a good position to pick up some quality assets at depressed prices following the global financial meltdown.
Yeoh said the group will acquire a few assets based on its cash flow position, and also, if the price is right.
"We are very comfortable in the luxury segment. Our current portfolio comprises resorts, city hotels and quality properties. Any acquisition will have to fit into the three segments," Yeoh said.
YTL, through its hospitality arm YTL Hotels & Properties (YTLHP) Sdn Bhd, is involved in both ownership and management of properties, comprising a collection of internationally renowned, award-winning resorts, hotels and spas.
YTLHP owns Cameron Highlands Resort, JW Marriot KL, Spa Village Resort Tembok Bali, Villa Tassana in Phuket, and Bray House, Berkshire in the UK. It has also stakes in Majestic Malacca, The Chedi in Phuket, Vistana Hotel in KL, Penang and Kuantan and Tanjong Jara Resort.
All the properties are managed by YTLHP, including Pangkor Laut Resort and The Ritz-Carlton KL, which are majority owned by the Yeoh family.
"If there are opportunities to enhance our chances in real estate gain, we will consider. We will look at opportunities worldwide on a global basis," Yeoh said.
Yeoh said opportunities are aplenty due to the current correction in the property market and also because banks are consolidating.
He said there is also a play in hotel assets now.
"Banks are coming around with value propositions. But we will look at markets that we are familiar with," Yeoh said, citing YTL's investments in Indonesia, Singapore, the UK, Thailand and Australia.
By NST
December 30, 2008
December 26, 2008
Developer’s big plans for Pulau Indah
Central Spectrum (M) Sdn Bhd, a property developer in Pulau Indah, plans to launch more projects on the island next year as sales have been encouraging.
The company, which is developing a 2129.6ha in Pulau Indah into integrated township, has to date developed and sold 1,000ha worth a gross development value (GDV) of RM1.1bil.
The township comprises industrial (61%), residential (35%) and commercial (4%) properties.
“The Phase 1 of Selangor Halal Hub, consisting of 120ha, was sold to ten investors. The investment value, including land, buildings and machineries, will be about RM840mil,” said general manager Roslan Ahmad.
“The Phase 2, which is now open for registration, comprises 160ha with a GDV of RM250mil.”
Roslan said a further “two factories with investment of RM200mil will be operational next year and another two in the final planning stage,” adding that Central Spectrum’s projects on Pulau Indah were slated to last until 2014.
Central Spectrum is 76.7% owned by Kumpulan Hartanah Selangor Bhd and 23.3% by AMDB Bhd.
Pulau Indah has also attracted a Belgium-based oleo chemical group, which is set to commission its RM72mil plant, covering 3.0ha, by March 2009.
“This is our group first venture outside Europe. We chose Malaysia because it provides good access into China and US markets, as well as benefits from the currency exchange rate,” said managing director James de Caluwe. “Malaysia Development Industrial Authority has also approved a 10-year pioneer (tax incentive) status to our company,” he added.
Meanwhile, the Selangor government has called on the Federal Government to speed up infrastructure works and public services facilities in Pulau Indah.
“We hope that it could provide a police station, a fire station and a medical centre in Pulau Indah, as it currently does not have any, Selangor State Investment Centre’s (SSIC) chief executive officer Datuk Mohd Jabar Ahmad Kembali said
“Make sure the construction of a second access to the island, the South Klang Valley Expressway, to be completed on schedule in 2012, as it is important to reduce road congestion and attract more investors into the island,” he said after a briefing by Central Spectrum.
By The Star
The company, which is developing a 2129.6ha in Pulau Indah into integrated township, has to date developed and sold 1,000ha worth a gross development value (GDV) of RM1.1bil.
The township comprises industrial (61%), residential (35%) and commercial (4%) properties.
“The Phase 1 of Selangor Halal Hub, consisting of 120ha, was sold to ten investors. The investment value, including land, buildings and machineries, will be about RM840mil,” said general manager Roslan Ahmad.
“The Phase 2, which is now open for registration, comprises 160ha with a GDV of RM250mil.”
Roslan said a further “two factories with investment of RM200mil will be operational next year and another two in the final planning stage,” adding that Central Spectrum’s projects on Pulau Indah were slated to last until 2014.
Central Spectrum is 76.7% owned by Kumpulan Hartanah Selangor Bhd and 23.3% by AMDB Bhd.
Pulau Indah has also attracted a Belgium-based oleo chemical group, which is set to commission its RM72mil plant, covering 3.0ha, by March 2009.
“This is our group first venture outside Europe. We chose Malaysia because it provides good access into China and US markets, as well as benefits from the currency exchange rate,” said managing director James de Caluwe. “Malaysia Development Industrial Authority has also approved a 10-year pioneer (tax incentive) status to our company,” he added.
Meanwhile, the Selangor government has called on the Federal Government to speed up infrastructure works and public services facilities in Pulau Indah.
“We hope that it could provide a police station, a fire station and a medical centre in Pulau Indah, as it currently does not have any, Selangor State Investment Centre’s (SSIC) chief executive officer Datuk Mohd Jabar Ahmad Kembali said
“Make sure the construction of a second access to the island, the South Klang Valley Expressway, to be completed on schedule in 2012, as it is important to reduce road congestion and attract more investors into the island,” he said after a briefing by Central Spectrum.
By The Star
December 18, 2008
Property prices expected to fall 5-10pc next year
PROPERTY prices will fall by 5-10 per cent from the first quarter of next year as a slower economy cools demand, a property consultant said.
The slump in prices will be for properties across the board, Association of Valuers & Property Consultants in Private Practice Malaysia (PEPS) president James Wong Kwong Onn said.
He said properties below the RM300,000 radar and luxury condominiums tagged at above RM750,000 are already hit from a slower economy.
Wong believes there will be a correction in the housing market next year.
"There will be fewer launches due to poor demand. Prices will fall, but gradually, due to lack of confidence in the market," Wong said after a media briefing on the 2nd Malaysian Property Summit 2009 in Kuala Lumpur yesterday.
But Wong said a housing bubble is unlikely although the market will be depressed by a slew of bearish factors like poor economic data and worries over increasing credit market losses in the US.
He said Malaysia's real estate is resilient enough to withstand the onslaught of the economic turmoil.
His confidence is boosted by the RM7 billion economic stimulus package announced last month.
Wong expects Malaysia's real estate to also fare better than Singapore, Thailand and Hong Kong as the latter three are more exposed to the US-led subprime crises.
"Property prices in these countries have also shot up by 100 per cent or more whereas the upward price in Malaysia was gradual. There is room to grow so we will definitely fare better," he added.
Meanwhile, Sime Darby Property Bhd managing director Datuk Tunku Putra Badlishah said the company has new products lined up for next year but will remain cautious when planning the launches.
"We are fortunate as most of our landbank is in prime areas and a majority of our market is owner-occupied. Despite the market shrinking, we believe it has eased a little," he said.
In the past one month, Sime Darby has been able to sell 241 properties worth RM141 million located within its 10 on-going townships.
Sales were boosted by its "Guaranteed Buy Back" scheme, instilling confidence in buyers.
The 2nd property summit, organised by PEPS, will be held on January 20 2009 at the Sime Darby Convention Centre, Kuala Lumpur. More than 200 participants from various sectors are expected to attend.
By NST
The slump in prices will be for properties across the board, Association of Valuers & Property Consultants in Private Practice Malaysia (PEPS) president James Wong Kwong Onn said.
He said properties below the RM300,000 radar and luxury condominiums tagged at above RM750,000 are already hit from a slower economy.
Wong believes there will be a correction in the housing market next year.
"There will be fewer launches due to poor demand. Prices will fall, but gradually, due to lack of confidence in the market," Wong said after a media briefing on the 2nd Malaysian Property Summit 2009 in Kuala Lumpur yesterday.
But Wong said a housing bubble is unlikely although the market will be depressed by a slew of bearish factors like poor economic data and worries over increasing credit market losses in the US.
He said Malaysia's real estate is resilient enough to withstand the onslaught of the economic turmoil.
His confidence is boosted by the RM7 billion economic stimulus package announced last month.
Wong expects Malaysia's real estate to also fare better than Singapore, Thailand and Hong Kong as the latter three are more exposed to the US-led subprime crises.
"Property prices in these countries have also shot up by 100 per cent or more whereas the upward price in Malaysia was gradual. There is room to grow so we will definitely fare better," he added.
Meanwhile, Sime Darby Property Bhd managing director Datuk Tunku Putra Badlishah said the company has new products lined up for next year but will remain cautious when planning the launches.
"We are fortunate as most of our landbank is in prime areas and a majority of our market is owner-occupied. Despite the market shrinking, we believe it has eased a little," he said.
In the past one month, Sime Darby has been able to sell 241 properties worth RM141 million located within its 10 on-going townships.
Sales were boosted by its "Guaranteed Buy Back" scheme, instilling confidence in buyers.
The 2nd property summit, organised by PEPS, will be held on January 20 2009 at the Sime Darby Convention Centre, Kuala Lumpur. More than 200 participants from various sectors are expected to attend.
By NST
December 15, 2008
Foreigners still keen on Malaysian properties
Landmark office transactions concluded in the past 12 months show that foreigners are still keen in the local property market.
Of the nine transactions that were concluded this year, four involved foreign buyers or foreign-related funds. According to data compiled by Rahim & Co Research, the outlook for office property market looked good with more transactions expected going forward.
“Foreign investors like Malaysia for its stability as they feel it is not as volatile compared with markets in Vietnam, Hong Kong and Singapore. The stable economic outlook and good infrastructure are also plus factors for the real estate sector,” the research house said.
This year, several en bloc transactions had taken place, including the sale of Menara Standard Chartered to ING for RM300mil or at RM934 per sq ft, and Pearl@KLCC to Flora Bliss for RM550mil.
There are other several foreign funds that are looking to purchase real estates on an en bloc basis.
“Prime Grade A office buildings in the Golden Triangle and around the KLCC (Kuala Lumpur City Centre) vicinities are almost 100% occupied now. It is for this reason that we expect the few new office buildings in the Golden Triangle to do well in terms of occupancy,” it noted.
Interested buyers for the two office buildings that are up for sale in Kuala Lumpur - Horizon Commercial Centre in Bangsar South and Menara UOA Bangsar Tower A along Jalan Bangsar - comprise mainly foreigners.
The asking price is between RM900 and RM1,000 per sq ft, a significant increase from RM700 to RM900 per sq ft last year. About 3 million sq ft of new office space will be ready next year while the average annual take-up is only about 1.5 million sq ft. The balance space is mostly for owner occupation by big corporations and government departments.
Meanwhile, rental rates - which have been rising over the first half of this year - have started stabilising. Excluding the Petronas Twin Towers, Grade A office space in Kuala Lumpur’s Golden Triangle and around the KLCC are commanding monthly rents of RM7 to RM9 per sq ft.
Reflecting the prevailing pensive mood, Savills Rahim & Co said some companies entering Malaysia for the first time were not commiting to long tenancy or lease of office space but had chosen to occupy service offices instead.
They want the flexibility to watch the market’s performance next year before signing on the tenancy papers. Zerin Properties chief executive officer Previndran Singe said the office market would still see strong demand as the economy was still growing, although at a slower rate.
On the growing number of aborted property deals, Rahim & Co Research said: “The global financial crisis is affecting most institutional funds in various ways, thus they are taking a step back to monitor the situation.”
Banks are also starting to tighten credits and the credit crunch will make it increasingly difficult for investors and buyers to borrow to fund property deals.
Last month, IOI Corp Bhd forfeited a deposit of RM73.4mil when it withdrew from its proposed purchase of Menara Citibank in Jalan Ampang, Kuala Lumpur. The 50-storey Grade A office building has a net lettable area of 733,626 sq ft and a 99% occupancy rate.
Elsewhere, the gloomy global economic outlook has also resulted in aborted deals. In Singapore, the deal by City Developments Ltd’s 53%-owned London-listed Millennium & Copthorne (M&C) to sell The Seoul Hilton to Kangho AMC Co has fallen through. Kangho had agreed to purchase the hotel for S$596mil in June and had paid a non-refundable deposit of 10% plus another 1 billion won for two payment extensions.
These amounts will be forfeited and M&C will book S$60.6mil as extraordinary gain in the current financial year and continue to manage the Seoul Hilton.
With Malaysia’s gross domestic product growth having slowed down to 4.7% in the third quarter this year from 6.3% in the second quarter and 7.1% in the first quarter, Rahim & Co Research is anticipating a further slowdown in the final quarter.
“The global economic crisis is taking its time to impact Malaysia but in 2009 the effect on the country will be more pronounced.We expect some companies, especially in the financial sector, to reduce their headcount or at least stop recruitment.
“This may lead to the consolidation of separate departments or offices into one premise and new office buildings outside of the city centre may prove more popular,” the research house said.
By The Star
Of the nine transactions that were concluded this year, four involved foreign buyers or foreign-related funds. According to data compiled by Rahim & Co Research, the outlook for office property market looked good with more transactions expected going forward.
“Foreign investors like Malaysia for its stability as they feel it is not as volatile compared with markets in Vietnam, Hong Kong and Singapore. The stable economic outlook and good infrastructure are also plus factors for the real estate sector,” the research house said.
This year, several en bloc transactions had taken place, including the sale of Menara Standard Chartered to ING for RM300mil or at RM934 per sq ft, and Pearl@KLCC to Flora Bliss for RM550mil.
There are other several foreign funds that are looking to purchase real estates on an en bloc basis.
“Prime Grade A office buildings in the Golden Triangle and around the KLCC (Kuala Lumpur City Centre) vicinities are almost 100% occupied now. It is for this reason that we expect the few new office buildings in the Golden Triangle to do well in terms of occupancy,” it noted.
Interested buyers for the two office buildings that are up for sale in Kuala Lumpur - Horizon Commercial Centre in Bangsar South and Menara UOA Bangsar Tower A along Jalan Bangsar - comprise mainly foreigners.
The asking price is between RM900 and RM1,000 per sq ft, a significant increase from RM700 to RM900 per sq ft last year. About 3 million sq ft of new office space will be ready next year while the average annual take-up is only about 1.5 million sq ft. The balance space is mostly for owner occupation by big corporations and government departments.
Meanwhile, rental rates - which have been rising over the first half of this year - have started stabilising. Excluding the Petronas Twin Towers, Grade A office space in Kuala Lumpur’s Golden Triangle and around the KLCC are commanding monthly rents of RM7 to RM9 per sq ft.
Reflecting the prevailing pensive mood, Savills Rahim & Co said some companies entering Malaysia for the first time were not commiting to long tenancy or lease of office space but had chosen to occupy service offices instead.
They want the flexibility to watch the market’s performance next year before signing on the tenancy papers. Zerin Properties chief executive officer Previndran Singe said the office market would still see strong demand as the economy was still growing, although at a slower rate.
On the growing number of aborted property deals, Rahim & Co Research said: “The global financial crisis is affecting most institutional funds in various ways, thus they are taking a step back to monitor the situation.”
Banks are also starting to tighten credits and the credit crunch will make it increasingly difficult for investors and buyers to borrow to fund property deals.
Last month, IOI Corp Bhd forfeited a deposit of RM73.4mil when it withdrew from its proposed purchase of Menara Citibank in Jalan Ampang, Kuala Lumpur. The 50-storey Grade A office building has a net lettable area of 733,626 sq ft and a 99% occupancy rate.
Elsewhere, the gloomy global economic outlook has also resulted in aborted deals. In Singapore, the deal by City Developments Ltd’s 53%-owned London-listed Millennium & Copthorne (M&C) to sell The Seoul Hilton to Kangho AMC Co has fallen through. Kangho had agreed to purchase the hotel for S$596mil in June and had paid a non-refundable deposit of 10% plus another 1 billion won for two payment extensions.
These amounts will be forfeited and M&C will book S$60.6mil as extraordinary gain in the current financial year and continue to manage the Seoul Hilton.
With Malaysia’s gross domestic product growth having slowed down to 4.7% in the third quarter this year from 6.3% in the second quarter and 7.1% in the first quarter, Rahim & Co Research is anticipating a further slowdown in the final quarter.
“The global economic crisis is taking its time to impact Malaysia but in 2009 the effect on the country will be more pronounced.We expect some companies, especially in the financial sector, to reduce their headcount or at least stop recruitment.
“This may lead to the consolidation of separate departments or offices into one premise and new office buildings outside of the city centre may prove more popular,” the research house said.
By The Star
December 11, 2008
Sime sells properties worth RM100mil
Home buyers and property investors have snapped up over RM100mil worth of properties at Sime Darby Property’s Parade of Homes campaign.
Since the campaign was launched on Nov 14, visitors have been making their way to Sime Darby Property’s 10 townships in prime locations stretching from Shah Alam, Ampang and Subang Jaya to Nilai in Negri Sembilan.
More than 160 properties were sold in a two-week period.
”We’re definitely feeling very upbeat with the encouraging response from home buyers and investors alike,” Sime Darby Property managing director Datuk Tunku Putra Badlishah said in a statement.
According to him, sales to-date showed that Malaysians would continue to invest in the property market, given the right incentives and assurance that they had made a safe investment despite the current economic sentiment.
Sime Darby Property was offering a “guaranteed buy-back” scheme which is valid until June 15, 2009, the statement said.
Under the scheme, purchasers during the campaign period can sell back their properties to Sime Darby Property with “no questions asked”.
By The Star
Since the campaign was launched on Nov 14, visitors have been making their way to Sime Darby Property’s 10 townships in prime locations stretching from Shah Alam, Ampang and Subang Jaya to Nilai in Negri Sembilan.
More than 160 properties were sold in a two-week period.
”We’re definitely feeling very upbeat with the encouraging response from home buyers and investors alike,” Sime Darby Property managing director Datuk Tunku Putra Badlishah said in a statement.
According to him, sales to-date showed that Malaysians would continue to invest in the property market, given the right incentives and assurance that they had made a safe investment despite the current economic sentiment.
Sime Darby Property was offering a “guaranteed buy-back” scheme which is valid until June 15, 2009, the statement said.
Under the scheme, purchasers during the campaign period can sell back their properties to Sime Darby Property with “no questions asked”.
By The Star
December 10, 2008
KPWG: Consider land buys now
The global economic crisis sparked off by the subprime mortage mess in the United States has put faith in property investment into a pickle. But not so for KPWG International (M) Sdn Bhd, a specialist in flexible and high yielding investment products centred on land and properties.
It said it strongly supports investing in land and properties, especially now with the numerous "lucrative offers and so few takers".
According to KPWG managing director and a founding member Paul Baker, investments have also to take into consideration the speculative nature of bonds and shares which, he said, are constantly subjected to fluctuating transactions and global sentiments while "land is a solid investment".
"When stock markets plummet and share prices plunge to their lowest, land and land-based products have demonstrated their resilience. The bottom line is, land investments are less volatile than stock markets," Baker said, adding that KPWG has a team of property consultants to locate strategic sites for Malaysians to invest in.
Its offerings include the Tai-Pan Resort and Condominium comprising 60 exclusive condo-resort hotel units located in the Thai royal resort town of Hua Hin in the Gulf of Thailand and managed by the Tai-Pan Hotel group, well known in the Indochine region.
Baker said KPWG is undertaking its investments through its two brands, Land Eye and Paradise Found. The former sources for land investment opportunities globally while the latter seeks mid-range and luxury properties and developments in thriving resort locations in Asia Pacific.
"We have land products in the region such as plots on which projects can be built on almost instantly and plots under agriculture status that can be converted for residential use.
"Currently, KPWG is negotiating for a large project in Indonesia's Bintan Island as well as several land deals in the United Kingdom. We are also eyeing Russia, Japan and Korea for various investment choices," he added.
By New Strait Times
It said it strongly supports investing in land and properties, especially now with the numerous "lucrative offers and so few takers".
According to KPWG managing director and a founding member Paul Baker, investments have also to take into consideration the speculative nature of bonds and shares which, he said, are constantly subjected to fluctuating transactions and global sentiments while "land is a solid investment".
"When stock markets plummet and share prices plunge to their lowest, land and land-based products have demonstrated their resilience. The bottom line is, land investments are less volatile than stock markets," Baker said, adding that KPWG has a team of property consultants to locate strategic sites for Malaysians to invest in.
Its offerings include the Tai-Pan Resort and Condominium comprising 60 exclusive condo-resort hotel units located in the Thai royal resort town of Hua Hin in the Gulf of Thailand and managed by the Tai-Pan Hotel group, well known in the Indochine region.
Baker said KPWG is undertaking its investments through its two brands, Land Eye and Paradise Found. The former sources for land investment opportunities globally while the latter seeks mid-range and luxury properties and developments in thriving resort locations in Asia Pacific.
"We have land products in the region such as plots on which projects can be built on almost instantly and plots under agriculture status that can be converted for residential use.
"Currently, KPWG is negotiating for a large project in Indonesia's Bintan Island as well as several land deals in the United Kingdom. We are also eyeing Russia, Japan and Korea for various investment choices," he added.
By New Strait Times
December 5, 2008
Zerin rules out property slump next year
MALAYSIA'S property market is expected to be resilient next year due to lower borrowing costs and as demand from foreign buyers remain strong, an industry executive said.
"It will be harder to do deals next year but there won't be a slump. People are still looking for homes to stay and invest in," said Previndran Singhe, chief executive officer of real estate consultancy Zerin Properties.
There will be a slew of new residential property launches from the second quarter next year and these are high-end products.
Key launches next year include 6 Stonor by Tan & Tan Development; The Pearl@KLCC by Malton Bhd; Platinum Park Residences by Naza TTDI; The Oval by Guocoland (M) Bhd; and Idaman Bintang by TA Properties Sdn Bhd.
Previndran said there is demand from locals, and investors from Europe and the Middle East for completed properties and new products in the Klang Valley.
"We are seeing more genuine buyers from these regions," he said.
Previndran said while the price of new landed and high-rise properties will be relatively similar to current levels, there will be more attractive marketing schemes.
"Developers are not going to lower property prices as construction cost is still volatile. What they will do is offer more goodies," he said.
He also expects a few en bloc deals over the next few months.
"There will also be more sales and leaseback, which will be fed into REITs," Previndran said at a property outlook briefing in Kuala Lumpur yesterday.
Zerin also introduced its new website www.expathomekl.com for expatriates at the briefing.
By NST
"It will be harder to do deals next year but there won't be a slump. People are still looking for homes to stay and invest in," said Previndran Singhe, chief executive officer of real estate consultancy Zerin Properties.
There will be a slew of new residential property launches from the second quarter next year and these are high-end products.
Key launches next year include 6 Stonor by Tan & Tan Development; The Pearl@KLCC by Malton Bhd; Platinum Park Residences by Naza TTDI; The Oval by Guocoland (M) Bhd; and Idaman Bintang by TA Properties Sdn Bhd.
Previndran said there is demand from locals, and investors from Europe and the Middle East for completed properties and new products in the Klang Valley.
"We are seeing more genuine buyers from these regions," he said.
Previndran said while the price of new landed and high-rise properties will be relatively similar to current levels, there will be more attractive marketing schemes.
"Developers are not going to lower property prices as construction cost is still volatile. What they will do is offer more goodies," he said.
He also expects a few en bloc deals over the next few months.
"There will also be more sales and leaseback, which will be fed into REITs," Previndran said at a property outlook briefing in Kuala Lumpur yesterday.
Zerin also introduced its new website www.expathomekl.com for expatriates at the briefing.
By NST
December 2, 2008
An orchard in the backyard
HIJAUAN Heights Sdn Bhd is transforming 1,000 acres of land in Pedas, Negri Sembilan into a lifestyle property development that includes bungalows with orchards, outdoor activities and a clubhouse as well as round the clock security.
It is for this reason that its director, Nor Azmi Talib believes the unique lifestyle project called “Hijauan Heights” will be a hit.
The development of Hijauan Heights started about three years ago on a plot of land that belonged to Telekom Malaysia Bhd (TM).
Through a subsidiary, TM Facilities, the company did a joint-land development agreement with a landscape company, IDH-IndahHijau (M) Sdn Bhd.
TM provided the development land while Hijauan Heights, a subsidiary of IndahHijau was responsible for the development, sales and marketing of the project.
Hijauan Heights plans to complete the first phase of the development by May next year.
According to Nor Azmi, the gross development value of the first phase is about RM79mil.
“TM will develop the structure for telecommunication that would include 3G connectivity. We have already divided the project into four phases scheduled for full completion by 2013. The 1,000 acres have already been subdivided to a minimum of one acre each to be offered to buyers,” says Nor Azmi, adding that in total about 591 lots have already been divided while the rest would be used for other developments such as building roads, a clubhouse and water tank.
“Here at Hijauan Heights, we offer you not just the orchard and clubhouse but also outdoor activities such as paragliding, fishing, boating and camping site to name a few. Plus, all the bungalows that we built are fully-furnished,” he says.
The location, Nor Azmi says, is another plus point as it is only 20 minutes to Seremban and an hour’s drive from Kuala Lumpur.
He is confident that despite the softening property market, the project with its unique features will be able to attract buyers.
“Our concept is very different from other developers. We are not doing mass development where thousands of houses are built. We are offering buyers a lifestyle concept whereby you can live in a green surrounding, do outdoor activities and also enjoy all the fruits from the orchard.
“Plus, you don’t have to worry about safety as it’s gated,” he says.
Nor Azmi says Hijauan Heights offers six types of four bedroom bungalows with an average built-up of 2,000 sq ft. It also provides three years of free maintenance for the orchard.
“In total, there would be about 129 units of four bedroom bungalows in this first phase plus the clubhouse. Since the soft launch on Aug 2, about 51 units had been sold,” says Nor Azmi.
He adds that the company is very selective about the choice of trees to be planted so that the buyers could taste all the fruits without waiting for the fruit season to come.
“About 40 fruit trees such as guava, rambutans, mango and longan have already been planted on each acre. For that, you don’t need to wait until the fruit season to savour the fruits as it will be a continuing fruiting season,” he says.
General manager Ungku Amir Ungku Sulaiman says the achievement of the company to subdivide the whole land into one acre individual title lots was something to be proud of.
“It’s not easy to subdivide this massive land into individual lots. It took us about two to three years just to do that,” he says.
He adds that this was an opportunity for future investments for buyers as the one acre land could be divided into more plots if they decide to split the land for their children.
The 1,000-acre freehold land at Hijauan Heights offers a minimum of one acre with six types of fully furnished bungalows to choose from with 40 type of trees planted. The prices start from RM750,000 to RM900,000 depending on the size of the land acquired.
By The Star
It is for this reason that its director, Nor Azmi Talib believes the unique lifestyle project called “Hijauan Heights” will be a hit.
The development of Hijauan Heights started about three years ago on a plot of land that belonged to Telekom Malaysia Bhd (TM).
Through a subsidiary, TM Facilities, the company did a joint-land development agreement with a landscape company, IDH-IndahHijau (M) Sdn Bhd.
TM provided the development land while Hijauan Heights, a subsidiary of IndahHijau was responsible for the development, sales and marketing of the project.
Hijauan Heights plans to complete the first phase of the development by May next year.
According to Nor Azmi, the gross development value of the first phase is about RM79mil.
“TM will develop the structure for telecommunication that would include 3G connectivity. We have already divided the project into four phases scheduled for full completion by 2013. The 1,000 acres have already been subdivided to a minimum of one acre each to be offered to buyers,” says Nor Azmi, adding that in total about 591 lots have already been divided while the rest would be used for other developments such as building roads, a clubhouse and water tank.
“Here at Hijauan Heights, we offer you not just the orchard and clubhouse but also outdoor activities such as paragliding, fishing, boating and camping site to name a few. Plus, all the bungalows that we built are fully-furnished,” he says.
The location, Nor Azmi says, is another plus point as it is only 20 minutes to Seremban and an hour’s drive from Kuala Lumpur.
He is confident that despite the softening property market, the project with its unique features will be able to attract buyers.
“Our concept is very different from other developers. We are not doing mass development where thousands of houses are built. We are offering buyers a lifestyle concept whereby you can live in a green surrounding, do outdoor activities and also enjoy all the fruits from the orchard.
“Plus, you don’t have to worry about safety as it’s gated,” he says.
Nor Azmi says Hijauan Heights offers six types of four bedroom bungalows with an average built-up of 2,000 sq ft. It also provides three years of free maintenance for the orchard.
“In total, there would be about 129 units of four bedroom bungalows in this first phase plus the clubhouse. Since the soft launch on Aug 2, about 51 units had been sold,” says Nor Azmi.
He adds that the company is very selective about the choice of trees to be planted so that the buyers could taste all the fruits without waiting for the fruit season to come.
“About 40 fruit trees such as guava, rambutans, mango and longan have already been planted on each acre. For that, you don’t need to wait until the fruit season to savour the fruits as it will be a continuing fruiting season,” he says.
General manager Ungku Amir Ungku Sulaiman says the achievement of the company to subdivide the whole land into one acre individual title lots was something to be proud of.
“It’s not easy to subdivide this massive land into individual lots. It took us about two to three years just to do that,” he says.
He adds that this was an opportunity for future investments for buyers as the one acre land could be divided into more plots if they decide to split the land for their children.
The 1,000-acre freehold land at Hijauan Heights offers a minimum of one acre with six types of fully furnished bungalows to choose from with 40 type of trees planted. The prices start from RM750,000 to RM900,000 depending on the size of the land acquired.
By The Star
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