After the cancellation of the share sale agreement between TRX City Sdn Bhd and IWH CREC Sdn Bhd, consortium of China Rail Engineering Corporation on Bandar Malaysia, a lot people is worry that what happen next? Now it seems China Richest Man from Dalian Wanda Wang JianLin is interest in Bandar Malaysia project. 

Wanda interested in Bandar Malaysia​

​BEIJING: Dalian Wanda Group, owned by China’s richest man Wang Jianlin, has expressed “desire” to participate in the Bandar Malaysia development.

The Wanda chairman told reporters that the investment would be “really huge”, estimating it at more than US$10bil (RM44bil).

“While we have not reached an agreement yet, I am here expressing my stance,” he said at a joint press conference with Prime Minister Datuk Seri Najib Tun Razak at the Sofitel Beijing Hotel owned by Wanda Group.

“Wanda has confidence in the investment environment of Malaysia and its future prospects, and we are willing to share our experiences with Malaysia to build a one-of-its-kind mega integrated cultural and tourism project,” he said after meeting Najib for over an hour.

Wang said going global was an important agenda for Wanda, adding that revenue from its overseas investments made up over 20% of the group’s profit last year.

Najib said the Malaysian Government envisioned Bandar Malaysia to be an iconic development instead of a run-of-the-mill property development.

“It will have great content, with cultural values and tremendous entertainment attractions,” he said, adding that he believed Wanda Group could deliver “something extraordinary, something so imaginative” for Bandar Malaysia which all Malaysians would be proud of.

“We have not gone into details and there is no agreement as yet, but this is to indicate their desire and our willingness to discuss with them,” Najib said, adding he looked forward to a favourable agreement on mutually acceptable terms.

Last week, Malaysia’s Finance Ministry called off a deal with the consortium of China Rail Engineering Corporation and Iskandar Waterfront Holdings, which was to be the master developer of the project that would also house the main terminus of the Kuala Lumpur-Singapore High Speed Rail.

At another press conference, Najib said the formula for equity stakes in the Bandar Malaysia development would be changed and the participants would not be just Dalian Wanda Group alone.

“We will take into account the position of China Rail Engineering Corporation and other groups that are interested,” he said.

To questions on when the agreement with Wanda would be finalised, Najib said details would be revealed “when the time comes”.

Later, Najib said China had assured Malaysia that it would continue to encourage financially strong and credible companies to invest in the country.

It also pledged to continue to support China-linked strategic projects in Kuala Lumpur.

Chinese Premier Li Keqiang, he said, had made this promise during their meeting at the Great Hall of the People yesterday.

“Any company that fulfills the criteria will be given support by the Chinese government so that strategic projects can be implemented,” he said after meeting Li and President Xi Jinping separately.

In his meeting with Li, Najib said he had informed the Chinese leader that he was taking a relook at the Bandar Malaysia project.

“It will go on for sure. As for its form and the parties involved, we will decide in the near future,” he said.
On whether the Chinese government would endorse Dalian Wanda Group’s investment in Bandar Malaysia, Najib said: “We will refer to the Chinese government based on the final settlement since it requires their support.”

During his four-eyed meeting with Xi, Najib said the leader had again expressed his appreciation to Malaysia for being one of the first few countries to pledge support for its Belt and Road initiative.

“On my request during my previous visit to Beijing in November last year, China has now increased the imports of palm oil from Malaysia. The volume has doubled in the first three months of the year,” Najib said, adding that tourist arrivals from China had also grown from 1.6 million in 2015 to 2.1 million last year.

“We are hoping for the figure to exceed three million this year. Based on the statistics so far in the first four months of the year, we can achieve this goal,” he said.

Najib and Li witnessed the signing of three government-to-government memorandums of understanding after their meeting.

​Two companies from China also signed MoUs with their Malaysian counterparts to carry out the second phase of the East Coast Rail Link (ECRL) and gas and petroleum pipeline infrastructure project in Pengerang, Johor.

Refer from www.thestar.com.my

Great news for low income group!!! Here help to own house with zero interest rate housing loan. Perhaps this is the best opportunity for you to own a house if you are ready for the commitment.

PETALING JAYA: The country’s two leading banks have come up with O% interest on housing loan schemes for their low income staff.

CIMB Group Holdings Bhd started the ball rolling on the fresh incentives launched in conjunction with Labour Day celebration last week, followed by Malayan Banking Bhd (Maybank) last Friday.

CIMB Group has set aside RM1bil for its programme to assist lower income staff in their housing loans.
A CIMB official said about 4,000 staff were expected to benefit from the scheme.

Under the scheme, employees who earn not more than RM3,500, will enjoy 0% interest in their housing loans for a maximum of five years or three years for completed properties, on loans not exceeding RM250,000.

Eligible staff are only required to start paying the loan instalment in the sixth year or fourth year for completed properties, which provides them with a roof over their heads while relieving them of the financial burden of servicing a housing loan during those periods.

Apart from that, single parents will receive financial assistance of RM200 monthly for each school-going child aged 18 years and below, subject to a maximum of five children.

In addition, staff earning not more than RM2,000 will also receive monthly assistance of RM50 for their water bill, and RM100 through Touch ‘n Go credit to partly fund their transportation cost.

According to CIMB Group group CEO Tengku Datuk Seri Zafrul, the new measures demonstrate the bank’s commitment to ensure that deserving staff are adequately supported, to help them succeed in both their career and personal lives.

“Our staff is the group’s most valuable asset, who have contributed so much to the group’s success and performance.

“This is also in line with CIMB’s new brand promise, ‘Forward’, which for our staff is about enabling them to progress and realise their dreams,” he said.

Meanwhile, Maybank will be offering 0% interest for the first RM100,000 on staff housing loans for selected categories.

The special interest rate housing loans, effective 1 July 2017, will be applicable for new and existing loans of Maybank Group employees in Malaysia who have a basic salary of up to RM3,000 per month.

Maybank Group chief human capital officer Nora Abd Manaf said in a statement that the new scheme was part of the group’s ongoing review of staff benefits to ensure they are adapted to the needs of employees as well as in line with emerging trends in market and industry.

“We believe the new housing loan rate will provide those eligible with significant relief and mitigate the concerns that they have with regards to their accessibility to affordable housing, especially in the more urban areas.”

Nora added that employees will continue to enjoy subsidised interest rates for home financing for amounts in excess of RM100,000 which currently stand at 3% for non-clerical and 3.5% for all other grades.

​Over the years the group has been spearheading many pioneering human capital initiatives to ensure that it offers employee benefits that among the best in class.

"Oh no, my loan got rejected again."
"The bank reject my application."
Kind of familiar huh? Nowadays, mortgage loan approval is the main issue for property pruchasing. So how to get or increase the chances of approval for your mortgag​e loan? 

Here's some advice from Malayan Banking Bhd (Maybank) head of consumer finance Abdul Razak Mohd Nordin.

By Lum Ka Kay from Theedgeproperty
Thursday, 20 April 2017 19:34:41 PM

KELANA JAYA: The most crucial factor in securing a housing loan with the desired financing margin is to have a high debt service ratio, according to Malayan Banking Bhd (Maybank) head of consumer finance Abdul Razak Mohd Nordin.
​
Speaking as a panellist at the Real Estate and Housing Developers’ Association Malaysia (Rehda) Property Forum 2017 titled “Status quo or road to recovery?” held on April 19, Abdul Razak said one thing is to have a good credit record and the other is to have a strong debt service ratio.

“For single [loan] applicants, you can consider having a joint application with your significant other or family members to increase your debt service ratio.

“Applicants can also choose affordable homes such as those priced RM500,000 and below. For us [bankers], when we realise you are unable to service the loan based on your debt service ratio, we will reject you.

“And if you are living in an urban area with a monthly household income of less than RM5,000, you’re under the vulnerable segment,” he said.

He added that for the vulnerable segment, the debt service ratio that banks consider ranges around 40% to 50%.

“For the higher income earners, we go as high as 70%.”
The general trend among Malaysians when they start working is to get a new phone and then a car, he said.

“All these will eventually affect your ability to repay the housing loan. We also have to look at your Central Credit Reference Information System (CCRIS) report.

“It all boils down to responsible lending. Banks would love to take the risk but we are regulated by Bank Negara Malaysia,” added Abdul Razak.

The other panellists at the forum were Malaysian Industrial Development Finance Bhd (MIDF) chief economist Dr Kamaruddin Mohd Nor, Jones Lang Wootton executive director Malathi Thevendran and property investor Ahyat Ishak. The forum was moderated by Rehda deputy president Datuk Soam Heng Choon. The forum was held following the launch of Rehda’s Property Industry Survey 1H2016 and Market Outlook 1H2017.


The panel members had mixed views on when the property market would recover from the current slowdown.

According to MIDF’s Kamaruddin, from a macro and global perspective, “things have hit rock bottom in 2H2016” hence he expects a recovery of the general economy from here onwards.

“As far as the domestic market is concerned, we expect 4.9% or 5% growth in terms of gross domestic product (GDP). Looking at the property sector, it will recover but perhaps not in 2017,” he said, adding that the property market may rebound in 2018.

Ahyat, however, said the Malaysian market “has yet to see the worst”.
“For me, the market cycle is experiencing a long flat,” he said.
For Jones Lang Wootton’s Malathi, there will be “nothing much” to show for 2017.

“There will still be launches going on as there will be upgraders and a limited number of investors. And if you really market it properly, the foreign market will also see opportunities.

“With our climate and other factors, we are a haven for Malaysia My Second Home (MM2H) but we are not marketing our country well enough,” she said.
Maybank’s Abdul Razak said the property market will mostly bottom out by the end of this year.

Article refer from TheEdgeProperty

Refer from TheEdgeProperty
By Tan Ai Leng
Thursday, 20 April 2017 19:53:36 PM

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) aims to launch Tria, the second phase of its 9 Seputeh project, in May.

The five-acre Tria project will feature three towers with 734 condominium units with built-up sizes ranging between 1,500 sq ft and 2,000 sq ft, said MRCB COO Kwan Joon Hoe.
“We haven’t finalised the selling price yet, but it is expected to be about 5% to 10% higher than phase 1 — Vivo,” he told TheEdgeproperty.com.

Vivo and Tria form part of the 17.3-acre 9 Seputeh mixed development located at Jalan Klang Lama, Kuala Lumpur. The entire development, which comprises high-rise residences and retail units, has a gross development value (GDV) of RM2.1 billion.

The 7.7-acre Vivo had offered 1,111 condo units with built-up sizes ranging from 775 sq ft to 2,500 sq ft. Launched in 2014, it has achieved a take-up of 80% at an average price of RM800 psf.
Kwan noted that Tria will offer bigger units to cater to upgraders from landed homes to high-rises.

Over at its Semarak City integrated development on Jalan Sultan Yahya Petra, Kwan said the company is now deciding on the launch date for the 27.41-acre freehold development in Kuala Lumpur city centre.

“During a slow market, we have to be careful on the launch timing as we do not want to hold too much stock. Tentatively, we hope to launch Semarak City at the end of the year,” he added.

Johor people is going to benefit from this. Great to hear that Lee Chong Wei International Sports City is going to realized in JB. 

​UMLand inks MoU with Chong Wei Binajaya to develop Lee Chong Wei International Sports City
​

PETALING JAYA (March 6): United Malayan Land Bhd (UMLand), via its wholly-owned subsidiary Seri Alam Properties Sdn Bhd, has inked a memorandum of understanding (MoU) with Chong Wei Binajaya Sdn Bhd to develop part of the proposed Lee Chong Wei International Sports City.

According to a statement by UMLand, under the MoU Seri Alam Properties will contribute a parcel of 16.38 acres of converted commercial land to Chong Wei Binajaya where the latter will develop the commercial portion to form part of the proposed Lee Chong Wei International Sports City.

Located in Bandar Seri Alam, Johor Bahru, Lee Chong Wei International Sports City is the brainchild of Malaysia’s badminton star Datuk Wira Lee Chong Wei. It is envisioned to be a one-stop ecosystem that blends sports and lifestyle elements.

According to UMLand, the integrated sports city will host world-class badminton tournaments, provide wellness therapy, advanced fitness training — all in a purpose-built complex — along with accommodation, leisure, entertainment, recreation, retail shops and offices.

“The development will see the establishment of an international class sports arena in Johor, allowing the state to host more international tournaments such as the Malaysia National Circuits and Grand Prix Gold.
“It will also be a professionally managed training hub for international and local badminton players — with a sports academy as a new education initiative, offering degree certification for courses.

“Other facilities will include the development of a multipurpose hall, serviced apartments, a hotel, hostel, office tower, commercial spaces and shops for retail, food and beverage, entertainment and recreation, and ample car parking,” said the developer.

Bandar Seri Alam is a 3,800-acre mixed township development with prime commercial, residential, institutional and industrial buildings by UMLand, located in the prime growth corridor of the Eastern Gate Development of Iskandar Malaysia.

​The township is recognised as a City of Knowledge with the establishment of educational institutions including University Kuala Lumpur, University Technology Mara, Masterskill University College of Health Sciences, Malaysia Art School, Excelsior International School, Nam Heng Chinese Primary School and the upcoming Foon Yew High School.

Refer from theedgeproperty.com.my

PETALING JAYA (March 25): Titijaya Land Bhd is looking to launch mixed development 3rdNvenue in Jalan Ampang in the third quarter of 2017. It is set to be completed in 2022.

Located on a 6.06-acre of freehold land in Embassy Row, 3rdNvenue has a gross development value of RM2.1 billion and offers 2,500 units of serviced apartments, Small-office Home-office (SoHos) and retail lots in four towers of between 42 and 48 storeys.

The serviced apartment units will have built-ups of 430 sq ft to 1,110 sq ft. Facilities for the project include swimming pool, wading pool, gym, Jacuzzi, sauna, business lounge, BBQ lounge, sky dining, nursery, entertainment room and multi-purpose hall. Prices start from RM800 psf.

“The target market for 3rdNvenue is the younger generation, mostly professionals and entrepreneurs, aged from the late 20s to 40s. The demand for affordable properties has gone up tremendously following the rapid increase in prices.

“With its attractive pricing, modern industrial design and vibrant colour scheme, 3rdNvenue can capture the attention of the target group as it aptly fits the needs of young people and their lifestyles,” said Titijaya Land executive director Charmaine Lim.

She told City & Country that the developer is hoping to capitalise on the 3rdNvenue’s strategic location and affordable pricing. To date, the group has opened 800 units for previews and all have been booked.
“Based on our previews, we find that prospective purchasers are mostly young professionals. Some customers even queued up as early as 4am to make a booking. This is encouraging as it shows there is demand for this type of development. The facilities are designed to appear trendy and attractive to owner-occupiers as well,” said Lim.

The development also offers multi-tier security systems and is situated about 1km from Gleneagles Medical Centre and Great Eastern Mall. Other nearby amenities include the Jelatek and Datuk Keramat light rail transit stations, Sayfol International School, Raffles Laselle International Design School, The Royal Selangor Polo Club, Ampang Point, Ampang Park Mall and Suria KLCC. 

Refer from theedgeproperty.com.my

Pre Launch Kampung Jawa Klang

Red Bricks Double Storey Link House 20x75
Build up as big as 1,995 sqft

New development with guarded community:
Very Low Density with Total 50 units Landed House ONLY
Tenure:           Freehold
Location:        Nearby Alam Impian & Kampung Jawa Klang
Size:                   20ft x75ft 
Build Up:        1,995 sqft
Completed :  Mid 2019
Price Range: RM650k - RM710k

Special Packages for Early Bird Buyer:
Booking Fee just RM5000 only
Special Rebates
Free SPA legal
Free MOT 

Strategic Location:
500m to Giant
500m to Mcd
500m to Petrol Station : BHP, Petron, Shell
300m to SMJK Chung Hwa
1km exits to West Coast Expressway (completed on 2019 early)
5min exits to Alam Impian Toll
8 minute exits to Kesas Highway

Call now for appointment : 
Jonathan     012-3760864

or ​

MRT Malaysia first phase opens on Friday

​PETALING JAYA:
The first phase of the Sg Buloh-Kajang Line (Malaysia MRT Line ) – to be launched next Friday – is not expected to be heavily used for the moment.

Once the entire line is fully operational, however, it will serve some 400,000 passengers.
The launch will see 12 MRT stations open for commuters – Sg Buloh, Kampung Selamat, Kwasa Damansara, Kwasa Sentral, Kota Damansara, Surian, Mutiara Damansara, Bandar Utama, Taman Tun Dr Ismail, Phileo Damansara, Pusat Bandar Damansara and Semantan.

Mass Rapid Transit Corporation Sdn Bhd strategic communications and stakeholder relations director Datuk Najmuddin Abdullah said it did not expect Phase 1 to be heavily utilised.

  This was partly due to KTM Komuter at Sg Buloh being the only connection to the line under Phase 1, he said.“The line does not connect to other rail-based services and it does not come into the city centre,” he said yesterday.

​The 23km-long alignment is expected to be launched by Prime Minister Datuk Seri Najib Tun Razak who took a preview ride on the train with several bloggers and social activists on Friday.

Najmuddin said with the completion of Phase Two – which stretches for another 19 stations to Kajang – operations would begin to serve the estimated 1.2 million people living along that that corridor.
“This means they will have easy access to the line. We expect around 400,000 passengers to use it (daily) when it is fully operational,” he said.

When fully operational, Najmud­din said it would help to remove some cars from roads, especially for those in areas such as Sg Buloh, Kota Damansara, Bandar Utama, Cheras and Kajang and those working in the city centre.

“The capacity of the line is 20,000 passengers per hour per direction. Each MRT train, which has four coaches, can carry 1,200 people.

“During peak hours, the frequency of trains is one every 3.5 minutes,” said Najmuddin.
At present, driving from Sg Buloh to Phileo Damansara here during the morning rush hour can take up to 90 minutes.

Commuters using the MRT will be able to travel from as low as RM1 for a single stop based on the cashless fare structure.

Rapid Rail Sdn Bhd said the maximum fare will be RM6.40 based on the cash fare structure and RM5.50 based on the cashless fare structure.

​Some 120 feeder buses will also be deployed on 26 routes to service the 12 stations between Sungai Buloh and Semantan that make up the first phase of the MRT line.


Article refer from http://www.thestar.com.my/news/nation/2016/12/11/mrt-first-phase-opens-on-friday-12-stations-from-sungai-buloh-to-semantan-to-begin-operations/

Follow with China signed a RM155bil foreign investment MOU to invest into major areas such as Infrstructure, transportation and real estate. Then Jack Ma is being appointed as Malaysia's Digital Economy Advisor for Malaysia. Now we have CREC having another project with Titijaya Land Bhd. CREC is one of the world’s largest construction companies, with a history of more than 100 years and ranked 57th among Fortune World Top 500 Enterprises and 7th among Top 500 Chinese Enterprises in 2016.

Titijaya partners CREC for RM2.1bil project

KUALA LUMPUR: Property development company Titijaya Land Bhd’s wholly-owned subsidiary Titijaya Resources Sdn Bhd has today signed a shareholders agreement with CREC Development (M) Sdn Bhd for the construction and development of a leasehold land at Embassy Row, Jalan Ampang.

​The proposed development to be built on the land measuring 6.06 acres, is expected to have a gross development value of RM2.1bil.

Concurrently, both companies have also acquired Ampang Avenue Development Sdn Bhd for a total purchase consideration of RM80mil.

Ampang Avenue, whose subsidiary is the registered proprietor of the land, now functions as the joint venture (JV) company.

The plot of land has a current market value of RM403mil and has an approval from Dewan Bandaraya Kuala Lumpur for a mixed use development with a plot ratio of 1:8:0.

In the JV company, Titijaya will be responsible for matters related to sales, marketing, credit management and administration, while CREC will take lead for matters related to monitoring, management and supervision of the day-to-day construction operations.

Both companies will appoint a nominee company of CREC as the main contractor of the JV company for the proposed development project.

Titijaya group managing director Tan Sri Lim Soon Peng said that the signing marks an important milestone for Titijaya, in its efforts to broaden its revenue stream.

“The rationale of the proposed acquisition of Ampang Avenue is for Titijaya Resources together with CREC as shareholders of the JV company to form a strategic collaboration in relation to the proposed development of the land.

“We believe that this corporate exercise will enable us to seek new strategic growth and ensure earnings sustainability for Titijaya, moving forward,” said Lim.

He added that the proposed JV with CREC will enable both parties to leverage on the synergistic outcomes, for mutual benefits.

CREC Development is a wholly-owned subsidiary of China Railway Engineering Corporation (M) Sdn Bhd, which is in turn a wholly-owned subsidiary of China Railway Group Ltd.

CREC is one of the world’s largest construction companies, with a history of more than 100 years and ranked 57th among Fortune World Top 500 Enterprises and 7th among Top 500 Chinese Enterprises in 2016.

Refer from www.starproperty.my

Here's Something Interesting to Have a Thought About It

​​Have you ever thought about what will it be for Property Development in 100 years’ time? What will it looks like? What kind of technologies will we have? Or maybe even how's the earth condition at that period?

Here's an interesting article about it and also outlook from some renowned developer:
The article is provided by Nippon Paint Malaysia publish in TheEdgeProperty.com

​Property development in 100 years’ time
By Nippon Paint Malaysia | October 27, 2016 7:43 PM MYT

​IN the 19th century, French artist Jean-Marc Côté and other artists produced a series of futuristic artworks called “En L’An 2000” or “In The Year 2000” that depicted scientific advances imagined as achieved by the year 2000. Among them, at a time when mobile homes were unheard of, was a painting of a house on wheels rolling through the countryside, which has become a reality today.

From merely building a roof over our heads, property developers today have come up with lifestyle developments such as high-rise homes that offer a myriad of facilities from rooftop gardens to infinity pools to even jogging tracks and man-made beaches in the sky!

With frontier technology, property marketing has also evolved as developers today have embraced social media marketing to engage with their customers and adopted the latest virtual reality technology to provide 3D virtual reality property tours. In the construction sector, we are seeing more pre-fabricated homes and “smarter” building materials, including smart concrete that heals its own cracks, double glazed glass, and special effect paint coatings like the Nippon Paint Momento Special Effect Paint that takes traditional paint to a whole new level! These are things that people in the past couldn’t have imagined.

So what more does the future hold? What would future advances bring about in property development? Here are four leading developers in Malaysia telling us what they see in their crystal balls.

SkyWorld: People-centric developments

SkyWorld Development Group COO Lee Chee Seng foresees that developments would be more people-centric and focused on quality community living.

“Technology will play a big part in home living; in enhancing communications, security, conveniences like shopping and others,” he muses.

In the construction process, IBS (Industrialised Building System) may regulate how buildings are constructed in the future while green building standards will be the norm. “Adopting the Green Building Index (GBI) is now an optional practice, it will possibly be compulsory in future,” he opines.

He expects three current trends to remain in the future — gated-and-guarded developments, healthy and functional living environments, and the adoption of GBI features such as low-emission glass, inverter lifts, energy-saving lights, etc.

“Gen Z prefers smaller, more urbanised and easier-to-maintain homes with better security features, as we now see in Thailand, Australia and Singapore, and it would be a matter of time before Malaysia catches up,” Lee predicts.

“Parking bays may be reduced in tandem with the drop in car ownership with better public transportation in the city such as MRT (mass rapid transit) and LRT (light rail transit) and technologies such as Uber and GrabCar changing the way people travel.

“With the growing awareness of healthy living, we will also see the increase of sports facilities or parks,” he continues.

IJM Land: Smart cities
With technology advancing at such a rapid pace, the world will be an entirely different place from today, says IJM Land Bhd managing director Edward Chong Sin Kiat.

In the future, Chong expects building construction to be much more efficient and quicker with less use of natural resources such as land, space and materials.

“Transportation is a major consideration in today’s market but will be a thing of the past while flying vehicles or maybe, just maybe, teleportation will be the new norm,” he visualises.

With driverless cars in testing and car sharing already in the works, car ownership and consequently car parking requirements will be reduced significantly, thus creating a new trend in property development, he adds.

“There will be seamless connectivity wherever you go as cities turn into smart cities where every movement and action can be monitored,” Chong says.

Kitchens may have to make way for other uses as food and drinks may be in capsule or tablet form. Shopping may also be different where online stores will enable customers to touch and feel the products. Virtual reality may also enable you, your family and friends to experience shopping together without leaving your homes or offices.

Nevertheless, Chong believes the human touch and emotional experiences are elements that cannot be replaced despite the rapid growth of technology.

​“Without all these fundamentals, humans will be no different from machines. As such, I believe that all trends related to emotional aspects will remain.”

Mah Sing: Technologically equipped

A century from today, the property landscape will be very much technologically driven, says Tan Sri Leong Hoy Kum, the group managing director of Mah Sing Group Bhd.

“With new technological innovations emerging almost on a daily basis, homes in the future will be equipped to make lives more convenient. For example, homebuyers nowadays are already looking at keyless options and Mah Sing has incorporated keyless digital locksets at its Cerrado Residential Suites in Southville City @ KL South,” he adds.

Leong points out that construction will continue to focus on environmentally friendly systems as developers aim to minimise wastage of raw materials while delivering sustainable homes. With greater awareness of environment protection, Leong expects green developments to be more popular in future.

He shares that small units in strategic locations that are affordably priced will be in demand as long as they are in key locations near offices, public transportation and facilities. Space utilisation will be an important trend. “Smaller units have to be designed in a way that fully utilises the room’s space,” he says.

“If we were to develop a dream project, it would be an integrated development with small units and surrounded by superb infrastructure,” he says, citing that public transportation will provide added convenience to homeowners and lower carbon footprint.

“Hopefully, we can achieve this project in the near future. We also hope that the Malaysian property sector will continue to incorporate innovations to make lives easier.”

Tropicana: Diverse universal locations
Tropicana Corp Bhd group CEO Datuk Yau Kok Seng foresees property development to be more innovative and efficient a century from now with technological advancement and as new lifestyle needs emerge.

With prime land becoming scarce, alternatives like floating cities in the sky, or under the sea and even underground, may be necessary, he says, adding that colonies could possibly even be set up on the moon or Mars.

“Properties will be built at any conceivable location. However, they may not be owned but rented because occupants may choose to live at diverse locations, so owning properties will not be economical,” he foresees.

Yau predicts the emergence of properties which are intelligent, interactive and complement the lives and habits of occupants, like smart homes. “They are like a learning ecosystem of the occupants’ habits and movements, adapting and changing according to their needs,” he explains.

He expects construction methods to change with the introduction of advance intelligent systems which are adaptive and more automated such as 3D printing.

“Buildings could be ordered off the shelves, tailor-made to individual requirements and built in the most efficient manner with less or no human labour,” he imagines.

Yau suggests that future developers will play the role of platform providers, integrating technology and lifestyle needs.

”With property development becoming more innovative and efficient, fuelled by the latest technology, it may result in domination by global players who are able to embrace the changes and excel in such conditions,” he muses.

​Looking ahead, Yau hopes there will be a well-planned and balanced growth within the urban areas in Malaysia.

This story first appeared in TheEdgeProperty.com pullout on Oct 28, 2016, which comes with The Edge Financial Daily every Friday

Budget 2017, what does it menas to property? 
A disappointment for most investor and developers as nothing is moving this direction thought market is soft and bank loan is strict. 

Under the new budget, there will be a 100% exemption of stamp duty given, but only for properties priced no more than RM300,000 which not many people is affected. In fact, its reducing the people who are beneficial from this group. Presently, a 50% exemption is given for the purchase of homes that are priced no more than RM400,000. From summarize, government need more people to submit stamp duty.

What I think, if government wont able to help, Developer will do something to help themselves. Don't you think so? Do you think they want their real estate business just going downwards? 
I do think you will get some surprise projects either its very low price or psf. Unless they dont want to focus their business in Malaysia or focus on their non real estate business. The developer may be slowing down in terms of new launches but they still need new sales to move forwards. That's the business nature. But from lately movement, you can see there is more projects launching after cooling down for the first half of the year. Lets see the review from The Edg​e Properties.

Budget 2017 a let-down for property players​

KUALA LUMPUR (Oct 24): Property developers who were anticipating measures to spur the sluggish property market from Budget 2017 last Friday came away disappointed, as there were no clear incentives for them.

In fact, the property market may be worse off going forward, as the stamp duty for purchases of properties priced above RM1 million will be raised to 4% from 3% from Jan 1, 2018, which would discourage the purchase of high-end properties, an analyst tied to a local research house told The Edge Financial Daily.

There were measures announced to address the issue of affordable housing targeted for the bottom 40% of Malaysian households whose income is at RM3,900 and below, which were expected.

But these measures are mostly specific to PR1MA or Perumahan Rakyat 1Malaysia projects — for homes priced at RM300,000 or below — with no indication that it will be extended to private property players.
Other notable measures introduced included the provision of strategic vacant government lands to government-linked companies and PR1MA for the development of more affordable homes priced between RM150,000 and RM300,000, and the development of 10,000 houses to be rented to eligible youths at a below-market rate, for up to five years. Again, not for private players.

Not surprising then, that immediately after the budget was tabled last week, the Real Estate and Housing Developers’ Association Malaysia (Rehda) called on the government to extend the affordable housing incentives to private developers too.

“In areas where PR1MA is not present, we hope that this incentive can be given [to private developments] as long as the [price] threshold of these houses is the same,” Rehda president Datuk Seri FD Iskandar told reporters last Friday.

Under the new budget, there will also be a 100% exemption of stamp duty given, but only for properties priced no more than RM300,000. Presently, a 50% exemption is given for the purchase of homes that are priced no more than RM400,000.

While the above measures address some social housing needs, the analyst said they will provide no boost to listed property developers, as many do not have properties in the RM300,000 and below range.
“The listed big-cap property developers — those with a market capitalisation of more than RM3 billion — were expecting more from the budget. They anticipated an easing in lending policy and a higher allocation for the purchase of homes under Account 2 of the Employees Provident Fund for first-time buyers,” said the analyst.

These were clearly not in the budget. There was also no change to the real property gains tax rate, while the developers’ interest-bearing scheme was still not allowed to make a comeback.

“Overall, the budget was not very helpful to listed players. Stock prices of property developers climbed prior to the budget — most thought it would be a boost for the segment. So there may be some weakness in the counters going forward.

“We expect the local property market to remain subdued going forward,” he added.
S P Setia Bhd president and chief executive officer Datuk Khor Chap Jen also noted the lack of incentives to stimulate the subdued property market.

“We are happy that the government will make financing easier and more accessible, and is looking at reducing the loan rejection rate for first-time home buyers.

“Nevertheless, we noted that the government did not introduce broader incentives to spur the soft property market and has a proposal to increase stamp duty for properties above RM1 million,” said Khor.
Similarly, property consultancy ExaStrata Solutions Sdn Bhd’s chief real estate consultant Adzman Shah Mohd Ariffin said the budget was below expectations.

“Generally, the budget gives a lot more emphasis on affordable housing with more units being developed and a better end-financing scheme. However, the lack of goodies for the real estate market will not augur well,” he said.

On the higher stamp duty rate for homes above RM1 million, Adzman said this will dampen the high-end market, though he noted that there is still a window for transactions in 2017.
“Maybe this was done to encourage transactions in 2017,” he mused.

Mah Sing Group Bhd is one of the few which have decided to view the stamp duty rise in a more optimistic light.
“For those who have the intention of buying higher-end homes, the stamp duty increase from 3% to 4% for homes priced more than RM1 million will encourage advance buying of completed properties prior to Jan 1, 2018.
“Some of our remaining units in M City in Jalan Ampang, Aspen @ Garden Residence and Icon Residence, Mont Kiara, will benefit from this, as buyers will be driven to make a faster purchase in order to not be charged the higher stamp duty rate,” said its group managing director and group chief executive Tan Sri Leong Hoy Kum in a statement.

​This article first appeared in The Edge Financial Daily, on Oct 24, 2016

Prelaunch Project at Prime Area in KL

30% Below Market Price
Come with Dual Key Concept to Maximize Rental Return
By facts, Property Value is Guaranteed Gain

Prime Location at Frontage of Jalan Ampang
Very nearby Great Eastern Mall and Gleneagles Hospital Kuala Lumpur
8 min Walking Distance to Jelatek LRT Station
8-12 min Driving Distance to KLCC, KL Tower, Times Square, Pavillion, Bukit Bintang & TRX (HSR Station)
2 min Walking  Distance to Nearest Bus Station
Develop by Reputable Award Winning Developer

So, What are you waiting for?
Price start from RM300k 
Booking Fee RM3000 Only

I always say you have to be creative and  in the decoration have to play with colors, shapes and textures to make your home look amazing, very original and especially for you to feel comfortable in it.
Basic to a house are the walls and sometimes do not pay enough attention so a couple of weeks I wanted to make a change and decorate my walls in a creative way, without using tables. The first idea was that I did, but I’ll leave others to see if you dare to make:

1. Wallpaper: 
Among good living room paint ideas, a great idea to make a difference in your walls, is empapelarla with fun tapestries. For example I placed a striped wallpaper in my living room and was really cool. Besides this wallpaper design makes room ceilings appear higher and so the room looks larger

2. Magnetic Wall: 
I love this idea and I have not done yet but sure will do it soon and I’ll tell you how I was. This is painting the wall that you want (I suggest it’s in your kitchen) with at least three coats of paint magnet or magnetic, the need to let it dry for a couple of days and go! It will look like the wall of your fridge. And you know what’s best? You can change the pictures, photos, and other decorative objects, in seconds. Is not it amazing?

​3. Clipboards: 
A fun way to have your hand whenever your earrings, the work of your children or photographs, is hanging on the walls around clipboards. I recommend you put them on the wall of the room of your children or in a studio.(Read the full tip here )

​4. Dishes: 
If you are a collector of dishes then this idea you’ll love. It comes to decorating an entire wall with hanging plates, no matter they are of different sizes and designs … that’s just the fun. You’re going to see what father is!

5. Photographs: It is a fact, the photos brighten a house and see them, do you return to live important moments of your life, so a good idea is to hang on your walls cords or decorative strips as if they were a “clothesline” and use tongs to hang several pictures over it. (See the full tip here ) or as collages.

Article Refer from http://www.jijbentflandersfuture.be/

Kajang still sizzles

​KAJANG, famous for its delicious satay, has more to offer than the tasty meat skewers.
Located at the south of Kuala Lumpur, Kajang’s property market is gaining growth momentum. This is supported by its population growth. According to the Department of Statistics, Kajang’s population was close to 800,000 in 2010, or 15% of Selangor’s population of 5.4 million.

Kajang has been a popular choice for homebuyers looking for spacious property in the mid to affordable price range especially landed homes.

Compared with urban areas such as Kuala Lumpur and Petaling Jaya, residential properties in Kajang are definitely more affordable but prices have seen significant growth over the years.

According to TheEdgeProperty.com’s data, the average selling price of terraced houses in Kajang had climbed to RM303.75 psf in 2015 from RM260.50 psf in 2012, an increase of nearly 17%.

Property consultancy firm MacReal International Sdn Bhd founder Michael Kong says Kajang town has been growing exponentially on its own due to many positive factors. One is of course the upcoming Kajang-Sungai Buloh Mass Rapid Transit (MRT) Line.

“The MRT Line will give a further boost to the property values here as we expect demand to rise when it starts operating,” he tells TheEdgeProperty.com.

The 51km MRT Line which links Sungai Buloh in the northwest with Kajang in the southeast, is slated to be completed by 2017.

It will have 31 stations, including 16 with park-and-ride facilities and four interchange stations. Notably, there will be a park-and-ride facility located at the Kajang MRT station which connects to the Kajang KTM Komuter Station, which is an interchange station to the Seremban KTM Line.
Kajang is easily accessible via several major highways, including the Kajang Dispersal Link Expressway (SILK), the Cheras-Kajang highway, the North-South Expressway, the new South Klang Valley Expressway (SKVE) and the Kajang-Seremban Highway (LEKAS).

“Kajang is also in a unique and much enviable location. It is a short distance to major strategic and important places. For instance, it is situated less than a 15-minute drive from Putrajaya and Cyberjaya, and a 30 to 40-minute drive from the Kuala Lumpur city centre and the Kuala Lumpur International Airport,” offers Kong.

He notes that Kajang town is also supported by many local industries which have their operations in industrial estates such as in the Bukit Angkat Industrial Area, the Bandar Teknologi Kajang industrial precincts and other major industrial estates in the surrounding areas of Bangi and Semenyih.

Apart from this, the town is also close to numerous educational institutions such as New Era University College, Infrastructure University Kuala Lumpur, Universiti Kebangsaan Malaysia in Bangi, Universiti Putra Malaysia in Serdang, Nottingham University Malaysia campus in Semenyih, Universiti Tenaga Malaysia in Bangi and the German-Malaysian Institute in Kajang.

​Semenyih Spillover
iProp Realty Sdn Bhd managing director Victor Lim says the robust development in neighbouring Semenyih lately is bringing even more value and sustainable growth to Kajang as the attention of homebuyers is drawn by the myriad of new development offerings in these areas south of Greater KL.

Big developers such as S P Setia Bhd, I&P Group Sdn Bhd, Eco World Development Group Bhd, SYF Development and Country Garden Properties (M) Sdn Bhd have spotted opportunities here and have been expanding their footprint to the southern corridor of the Klang Valley.

​S P Setia’s Setia EcoHill township development in Semenyih, which is about a 20-minute drive from Kajang town, had received overwhelming response from property buyers when it was first launched in 2013.

The development, which has a gross development value (GDV) of RM4 billion, has seen the first three phases fully sold and the last phase, launched in 3Q2015, 70% taken up.

Following the success of Setia EcoHill, the developer had unveiled the Setia EcoHill 2 development in June. The 1,010-acre freehold development is located just 3km away from Setia EcoHill.
Lim notes that even though the housing prices in Kajang have increased a lot over the past five years, there are still upside potentials as its population keeps rising while public transportation infrastructure is improving.

“Developers are expanding their footprint to the southern parts of the Klang Valley due to land scarcity in city centres. Newer gated and guarded developments as well as better infrastructure and amenities have attracted homebuyers’ attention to this area,” he explains.

However, heavy traffic and floods may make homebuyers think twice about buying a home here.
Kong says the town has been growing organically over the years. “Proper town planning was often an oversight. This resulted in massive traffic jams during rush hours, severe flooding problems during heavy rains and a chronic lack of car parking space.

“With the impending completion of the MRT system, it is hoped that it will alleviate the horrendous traffic situation in the town centre,” he says. Nevertheless, he adds, there are currently widening and embankment strengthening works on Sungai Jeloh, which runs through the centre of the town.

Consultants’ picks

Kajang was traditionally the home ground of MKH Bhd (formerly known as Metro Kajang Holdings Bhd). In recent years, it has seen the entry of other major property players such as Tropicana Corp Bhd, Naza TTDI Sdn Bhd, Protasco Bhd and Mutiara Goodyear.

The township developments include Tropicana Heights Kajang, Kajang East, Jade Hills by Gamuda Land, Mutiara Heights, Kajang 2, TTDI Grove Kajang and Nadayu 92.

Kong from MacReal International says investors could look at properties around Bandar Teknologi Kajang and other newly completed projects with unique concepts.

“I believe the commercial precinct in Section 1 of Bandar Teknologi Kajang is an ‘unpolished gem’ and primed for success in the near future. It was completed in the late 90s but did not take off commercially due to the lack of critical population mass.

“From a bird’s eye view, you will notice that Section 1 of Bandar Teknologi Kajang fronts the main trunk road between Kajang and Semenyih. More interestingly, you will find that massive housing developments are mushrooming around it,” he explains.

​These newly completed and ongoing housing projects include Nadayu 92, Hillview, Kajang Hillpark Homes, Kajang 2, Goodview Heights and Tropicana Heights Kajang.

​He notes that upon full completion, there would be about 2,000 homes or more in the immediate vicinity of Section 1 which will eventually create the critical population mass needed for future growth.

Meanwhile, Lim says property investors and homebuyers could also look at properties located in older residential areas near the Kajang town centre or the developments near or in Semenyih.

“Setia EcoHill, Eco Majestic, Semanja Kajang, Puncak Saujana, Mutiara Heights and Kajang 2 could be good choices due to their strategic locations, modern designs and good township planning as well as proximity to various amenities,” he adds.

In terms of rental, Lim says popular places for rental in Kajang include areas close to educational institutions.

According to TheEdgeProperty.com, the asking rental for a terraced house in Kajang averages RM1,400 a month or RM1.04 psf, which translates to a rental yield of about 4.1%.

For semi-dees and bungalows, the asking rental averages RM3,144 (RM0.90 psf) and RM2,676 (RM0.93 psf), respectively.

​http://www.mpighome.com/klnorth.html

WORKPLACE design has come a long way from being cookie-cutter and strictly utilitarian. What were venues built to support company processes are now conceived to leverage human capital more effectively. Increasingly, office spaces are designed to not only reflect a company’s values and culture but also prioritise employees’ well-being, and are conducive for creativity and productivity.
In a recent talk held at XTRA Furniture, Kuala Lumpur, Masahiko Kanaya, senior designer at Japanese office furniture and design company Okamura International (Singapore), says, “We believe in a strong visual idea. The first rule is to show and not tell. Secondly, we want to tell a story, to tell the clients who you are through the design.
“We also have to think about well-being. The environment plays a very important role in office designs today.”
There is no question that office design influences productivity. Research by global architect and design firm Gensler reveals that poor workplace design costs US businesses an estimated US$330 billion (RM1.3 billion) in lost productivity each year.

Thus, more and more companies are creating workplaces of stimulating design with dedicated spaces for recreation that facilitate employees’ needs for work-life balance. Lounge areas furnished for non-work-related communal activity, such as foosball, table tennis, yoga and board games, are becoming commonplace in offices as are wellness rooms, daycare facilities and outdoor break areas. Pantries and office kitchens are also given more prominence and come better equipped. All these are to communicate the message that the well-being of its employees is important to an employer.
Part and parcel of the considerations for staff well-being is biophilic design, which is a growing trend. In the US city of Seattle,Bloomberg reports that online retailer Amazon is currently building its massive new headquarters that will feature three 100ft tall orbs, or Biospheres as they are called. Inside, more than 300 plant species scoured from around the world will be planted. Employees needing a bit of respite or just a quiet place to think will be able to take a stroll on suspension bridges among the greenery. Brainstorming sessions can be held in one of the bird-nest-like meeting spaces perched in mature trees.

The Bloomberg article quotes the company’s global real estate director John Schoettler as saying that “they were inspired by Amazon research indicating that a key thing missing from typical work environments is a link to the natural world”.
Apple’s new headquarters in Cupertino, also under construction, is a circular spaceship-like structure that encompasses an enormous outdoor park. When completed, there will be jogging paths and walking trails around the building, and 1,000 bicycles will be kept on site for staff use.

Over in Japan, recruitment company Pasona’s office building in Tokyo, which was conceptualised by New York firm Kono Designs, incorporates a rooftop garden and urban farming facilities — close to 4,000 sq m of dedicated green space houses over 200 species of plants, fruits, vegetables and even rice. Supported by a team of agricultural specialists, employees are encouraged to maintain and harvest the crops.
Recognising the diversity of today’s workforce, companies are also creating a workplace that accommodates this. Says Kanaya, “Offices today consist of people with different cultures, different abilities and various working styles. People today need to communicate and collaborate more. But sometimes we also need to focus. We have to create a space that allows that flexibility.”

Rigidly defined spaces are slowly becoming a relic even as offices embrace spaces with multiple uses. This trend marries the open office concept — which aids collaboration and social interaction between co-workers — with private pods or cubicles that people can retreat to for some peace and quiet when needed. Thus, workstations are becoming more mobile and fluid — an example is the modular system, Muffle, by Okamura.
The definition of a great workplace today does not merely encompass attractive salaries and benefits but also an inspiring physical environment and amenities, to boot.  

Follow up with article "Too many MALLs and too much competition" posted on 16th August 2016, this is a great call to freeze on new application to build shopping centres. As its over supply in terms of mall and retails. Even retailers will have lots of tough time as total consumer in each mall is getting lesser and lesser. Rental of mall is high and its tough time for the retailers at the moment. If this is not freeze for now, you will see a lot of "Ghost" Mall sooner or later. This is a necessity measure.

This article first appeared in The Edge Malaysia on Aug 29, 2016

Call for freeze on new malls in KL and Selangor
MALL owners and operators are urging the local authorities in Selangor and Kuala Lumpur to impose a two-year freeze on new applications to build shopping centres as a way to overcome the current oversupply of retail space.
A dramatic increase in retail space per capita, delays in mall openings, closures of malls and malls put up for sale are signs of the oversupply situation.
Malaysia Shopping Malls Association (also known as Persatuan Pengurusan Kompleks Malaysia or PPKM) adviser H C Chan (pictured) says the market is already stressed, and with another 30 million sq ft of retail space coming in, the situation could worsen.
“Supply is still coming in very strongly but demand is restricted to a population of 30 million who have very limited purchasing power,” he tells The Edge in an interview.
National Property Information Centre data shows that retail space per capita is expected to rise — 16.2 million sq ft of incoming retail space and another 11.08 million sq ft is being planned. As at end-2015, there was 148.85 million sq ft of retail space nationwide.
Moreover, while the average occupancy in KL and Selangor is 82% and 79% respectively, there are shopping centres that register far-below-average occupancy.
“The oversupply situation is not helping the developers and retailers. There’s too much retail space chasing too few retailers. It is a lose-lose situation,” Chan says.
Take for example, a chain store operator. More malls in an area means the shoppers will be spread out, hence it will not make business sense for the retailer to open outlets in all these malls as it would only mean higher operating costs, he explains.
It is worth noting that international real estate consultant Knight Frank’s research reveals that the expansion in retail space over the past five years has outpaced population growth. KL’s population increased at a compound annual growth rate (CAGR) of only 0.9% between 2010 and 2015 while retail space grew 5.6%. Meanwhile, Selangor’s population grew at a CAGR of 3% while retail space increased 5.9%.
Retail space per capita in KL rose to 16.62 sq ft last year from 13.69 sq ft in 2010, while in Selangor, it increased to 5.52 sq ft from 4.99 sq ft.
Imposing a freeze on the development of commercial properties is not unheard of. Early this year, Dewan Bandaraya Kuala Lumpur (DBKL) announced a moratorium on approvals for new hotel licences in the city. Effective March 4, it covers all categories of hotels. DBKL said the decision was made as it felt that there were sufficient rooms — more than 56,000 (built and approved for development) — to cater for demand for at least a year. Furthermore, hotel operators have been seeing declining occupancy and room rates.
In 2011, the authorities of Jakarta announced a moratorium on the construction of malls of over 5,000 sq m following recommendations by developers in the Indonesian capital. The authorities cited the unoccupied units in existing malls as the reason for the move. They did not approve any new mall application for 1½ years.
Going further back to 2004, Malaysia placed a five-year freeze on the opening hypermarkets in certain areas — KL, Shah Alam,Petaling Jaya, Penang island and Johor Bahru. The number of hypermarkets in these areas then was said to have reached saturation point.
Chan suggests that the local authorities hold discussions with stakeholders to assess the situation before making a decision. A blanket ban is not necessary, he says. PPKM represents 90% of the mall owners and operators in the country. There are more than 400 malls nationwide.
Chan, who is also the immediate past president of PPKM, opines that a two-year moratorium should suffice.
“Those [who have] already been issued development orders [by the local authorities] should be allowed to proceed with their projects. The freeze should be for new or future applications,” he adds.
Malaysia saw an exponential increase in the number of malls in the 30 years to 2010. The number of shopping centres grew by about 100 every 10 years, bringing the total to more than 300 in 2010. But between 2011 and 2015, the number of malls shot up by 200.
Chan says there are three main reasons for the surge in the number of malls. Firstly, developers are shifting from building residential properties to venturing into property investment — building malls.
“Historically, malls have been a lucrative and attractive sector,” he says. And now, developers want to strike a balance between property development and property investment, hence the building of more malls, he adds.
Secondly, developers are coming up with projects that comprise residential and commercial components. “It is [now] common to see developments featuring three or four-storey retail podiums and three or four blocks of residential or office units, or a hotel,” says Chan.
He adds that from an economic perspective, integrated developments allow developers to maximise profit. “These days, very few developers will build just a shopping mall with car parks.”
Thirdly, urbanisation and growing affluence resulted in a need for more shopping malls. “Of the 150 million sq ft of retail space in the country, 50% is in Kuala Lumpur and Selangor,” Chan says. “However, only a third of the population live in these areas.”

By looking at these three news referring from www.theedgeproperty.com.my, a great connectivity of transit system will complement each other and further improve the convenience of the consumer. Not only that, it will reduce the travelling time further. Its the move that going to further improve the country transportation system. Even Ho Chin Soon says do not underestimate the potential of HSR. 


Local connectivity needed to complement HSR development

KUALA LUMPUR (Aug 27): Although the Kuala Lumpur-Singapore High Speed Rail (HSR) could be a great boost to improve Malaysia’s trans-border transportation system, industry players and consultants suggested that private and public sectors need to collaborate to enhance the “real connectivity” of various transportation systems to allow business opportunities to grow.
Ho Chin Soon Research chairman Ho Chin Soon said HSR will change the way people travel and do business as it shortens the time from Kuala Lumpur to other states in the southern region all the way to Singapore.
“The improved connectivity will move the central of gravity from the central region to other places, such as how the highway connectivity has shifted the central gravity from Petaling Jaya to Puchong, and now HSR will expand the golden triangle areas to open up more opportunities in older places like Bukit Bintang,” he said.
However, BBCC Development Sdn Bhd CEO Datuk Richard Ong said the connectivity between all public transportation systems, such as Mass Rapid Transit (MRT), Light Rapid Transit (LRT) and public buses also need to be improved to effectively connect people from HSR stations to other locations.
“BBCC will set an example by connecting MRT, LRT and the monorail system as well as provide greater convenience to the commuters who travel from or to HSR stations,” he said during the panel discussion at TheEdgeProperty.com’s “Symposium on Kuala Lumpur-Singapore High Speed Rail 2016”.
Ho and Ong as well as Savills Malaysia executive chairman Christopher Boyd were the panellists for the panel discussion titled “HSR — The Big Idea”.
The panel discussion was moderated by TheEdgeProperty.com managing director and editor-in-chief Au Foong Yee.
The symposium was organised by TheEdgeProperty.com and supported by The Edge Malaysia. The presenting sponsor is Bukit Bintang City Centre (BBCC).
Apart from connectivity, Ong said the requirements of young buyers and the working population are getting more sophisticated, and developers need to be creative to integrate more elements to the developments to cater to their needs.
“In a market where oversupply has become an issue, developers need to add in more elements — such as entertainment and recreation — into the design to cater to their needs,” he said.
Although many people are looking forward to the opportunities in the property market due to the HSR, Boyd reminded that infrastructure development is a long-term development which will not see an explosion in value in the short term.
“Investors could tap on the opportunities to invest in properties along the HSR line, but they must also bear in mind, there will not be an overnight booming effect even after the HSR starts operation. Based on the experience of countries which already have HSR, the rental yield growth and capital appreciation will take time to see the impact,” he explained.


BBCC invests RM30 mil in transit hub

KUALA LUMPUR (Aug 27): Believing that connectivity is absolutely vital, Bukit Bintang City Centre Development Sdn Bhd (BBCC) said the developer will be investing RM30 million into creating the central transport hub located within the development, said its chief executive officer, Datuk Richard Ong.
Speaking at TheEdgeProperty.com’s inaugural “Symposium on Kuala Lumpur-Singapore High Speed Rail 2016”, Ong said the developer is going to do a lot more besides banking in on the existing transportation system that surrounds BBCC, the former Pudu jail site.
According to Ong, the transit hub will connect the Light Rail Transit (LRT) station, the future Mass Rapid Transit (MRT) station and the monorail station.
“This is something we’re doing on our own for the benefit of commuters. It will cost us RM30 million, but we want seamless connectivity from the stations for everyone who comes to BBCC or live within BBCC.
“BBCC counts a lot on connectivity. Forget about cars, the future is going to be the rail lines including the High Speed Rail. You have the MRT connected to the monorail and LRT right in front of BBCC.
“If you take the LRT you can reach Chan Sow Lin where you can transit and then reach the HSR located at Bandar Malaysia. Connectivity is very important not only in the Klang Valley but beyond that, to Singapore and even the whole world,” said Ong.
Ong’s presentation topic titled “The new heartbeat of Kuala Lumpur” touched on how BBCC is set to be the new heart of Kuala Lumpur.
The 19.4-acre project with a gross development value (GDV) of RM8.7 billion is located at the intersection of Jalan Imbi and Jalan Pudu, also dubbed as the Golden Triangle of KL. It is being developed by a consortium comprising UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund in a 40:40:20 share structure over a period of between 8 to 10 years.
The integrated development will comprise a 1 million sq ft retail mall, lifestyle street, entertainment hub, hotel, 350 units of 715 sq ft to 1,423 sq ft offices within the Strata Office Tower, six luxury residential towers, an 80-storey Signature Tower, parks and gardens, and finally the transport hub.
Organised by TheEdgeProperty.com, the symposium titled “Where to invest — Don’t miss the boat” is supported by The Edge Malaysia with Bukit Bintang City Centre as the presenting sponsor.


Do not underestimate the potential of HSR intermediate stations, says Ho Chin Soon
KUALA LUMPUR (Aug 27): Ho Chin Soon Research Sdn Bhd chairman Ho Chin Soon has reminded property investors not to underestimate the potential of areas where the intermediate stations of the Kuala Lumpur-Singapore High Speed Rail (HSR) link are located.
Speaking during his presentation "Hot spots along the alignment: Where are the opportunities?" at TheEdgeProperty.com’s “Symposium on Kuala Lumpur-Singapore High Speed Rail 2016” themed “Where to invest — Don’t miss the boat!” today, Ho pointed out that the HSR is expected to attract 17.6 million potential users and the number is poised to increase at a pace of 2.9% per annum to about 24 million in 10 years.
Furthermore, when the government of Malaysia and Singapore signed the memorandum of understanding (MOU) for the 350km rail link last month, some developers have started to acquire land near the proposed stations while developers with projects near the proposed stations are already promoting their projects with the HSR as a major selling point of their projects, he added.
Ho said the HSR, which will have a terminus in Bandar Malaysia and six intermediate stations in Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat and Iskandar Puteri, offers a lot of opportunities for Malaysian real estate investors including property developers.
"There are land purchase opportunities, for developers looking for development land near HSR stations. Look for plantation land, whereas individual investors should look for small holding land."
He revealed that some well-known developers already have land near the upcoming HSR stations, such as Sime Darby Bhd (Seremban station) and the Lion Group, Bellworth Group, Encorp Bhd and MTD Capital Bhd with lands in Ayer Keroh.
While revealing the land ownership and opportunities for land purchases surrounding the proposed HSR stations, he also urged investors to not underestimate the potential of each intermediate station.
For example, Pagoh or Muar stations offer small holdings and plantation land purchase opportunities, he noted.
Ho added that Ayer Keroh — another intermediate station of the HSR — will also benefit from the HSR mega project that will shorten the travel time from Ayer Keroh to Bandar Malaysia.
The symposium, which was held at Sunway Putra Hotel, Kuala Lumpur, is organised by TheEdgeProperty.com and supported by The Edge Malaysia. The presenting sponsor is Bukit Bintang City Centre.

This is expected since years back with so many malls being build within a short distance. Take into example of PJ, there have Paradigm Mall, One Utama, Ikano, E-Curve, Encorp Mall, Citta Mall, Evolve Mall etc.

As for Sunway and Subang area, there have Sunway Pyramid, Subang Parade, Empire Shopping Gallery Subang, SS15 Courtyard, Main Place USJ, One City, The 19 USJ City Mall, The Summit (Under Renovation), Subang Avenue, USJ Wholesale CIty Mall, da:men and etc

The competition is so ​stiff for the retailers, business is tougher to survive. If retailer cannot survive, so do the malls. Just like last week case, Perda City Mall in Bukit Mertajam, Penang, suddenly shut down after a mere 18 months in business. 

If there is more malls to come, expect more of this to happen until economy is turning better. 


The following article referred from The Edge Malaysia on Aug 8, 2016 written by Vasantha Ganesan

More shopping centres to go on sale
WITH saturation and lower retail sales, the number of shopping centres that have been put up for sale or have been sold has been visibly higher over the past nine months. And this trend is expected to continue.
Data tabulated by The Edge (see table) reveals that during the period, the combined value of shopping centres advertised for sale, reported to be for sale or confirmed sold was an estimated RM3 billion. The real value could be much higher as many deals did not require an announcement to be made or the agent may have signed a non-disclosure agreement while seeking a buyer.

Lek Chay Tong, executive vice-president of research and consultancy at Savills (Malaysia) Sdn Bhd, attributes the rise in the number of shopping centres put up for sale to increased speculative mall development in the past five years.

Once mall development becomes speculative, oversupply kicks in, he tells The Edge, adding that this led to over-geared property developers disposing of their mall assets.

“Many malls have been developed by developers and not mall owners. These developers do not have (any) mall management expertise and thus, they prefer to sell (their malls) off,” says Stanley Toh, director of valuation at real estate agency firm LaurelCap Sdn Bhd.

Toh explains that in a mixed development, the developer’s profit is hidden in the mall portion of the project.

“For example, in an integrated development with serviced apartments and a retail mall, the apartment blocks are sold and the developer makes his profit from this. However, because he still retains the mall, the profit is stuck in the mall portion. In order to realise the profit, the developer would have to sell the mall,” he says.

“Going forward, we can expect to see more retail asset deals,” Toh adds.
He says previously, developers who built malls would sell them with ease as they had ready buyers. Often, the sale would be concluded quietly and go unnoticed. “But in this slow market, we are seeing owners hiring agents to sell the properties as it is more difficult to divest the properties (themselves).”
Toh adds that many of the malls are largely vacant or have poor rental rates, which translates into poor yields. In some cases, the malls are virtually empty.

Whether a mall vendor can find a buyer hinges on the selling price. “Most retail mall purchasers are either real estate investment trusts or foreign funds. Mall investors are looking at a net yield of 7%. With the current depressed rental rates, in order to hit a 7% net return, the selling price has to be lower as well,” he says. This does not work in favour of the seller.

Generally, good malls that have a market are not for sale, and malls that are up for sale do not have a market, says Savills Malaysia’s Lek. In such an environment, it is not unusual to see owners of successful malls saying, “at the right price, everything is for sale”.

​Large mall developers that want to carry on with their project need to seek an alternative in the current soft property market. “For some of the larger malls measuring over one million sq ft in net lettable area, the developers are looking for joint-venture partners, specialist operators or, in some cases, other sources of funding. That’s because the malls are finding it difficult to achieve high rent in the first term (as competition has intensified) to justify their infrastructure cost and cost of construction,” says Lek.

Phase 1 of MRT Line 1 undergoing mechanical testing, 86% complete

Refer from Theedgeproperty

​KUALA LUMPUR (Aug 2): Mass Rapid Transit Corp Sdn Bhd (MRT Corp) said it is currently undertaking the mechanical and electrical system works of Phase 1 of the MRT Sungai Buloh-Kajang (SBK Line or MRT Line 1), which is on track to meet its targeted completion by end-2016.

MRT Corp chief executive officer Datuk Seri Shahril Mokhtar (pictured) said 86% of the first phase of the line has been completed, with trial runs to start in October.

"We now have only a few months to Phase 1 of the SBK Line between the Sungai Buloh station and the Semantan station becoming operational by end of this year. Progress for the line is now at 86%.
"The tests and trial runs will not involve members of the public, as we have to be absolutely sure that everything works fine before we open the line to the public," he said.

Meanwhile, Phase 2 of the SBK Line, comprising the underground and southern elevated sections, will be ready for operations by July 2017.

For the MRT Sungai Buloh-Serdang-Putrajaya line (SSP Line or MRT Line 2), Shahril said the contract awards are progressing according to schedule.

"To date, we have awarded a total of 21 work packages. Work has already begun in several locations involving activities like land clearing and utilities piloting," said Shahril.

Shahril was speaking to reporters today, during MRT Corp's Hari Raya Open House celebration.
The group also presented a RM5,000 cheque to Yayasan Chow Kit, a foundation that provides assistance to those in need via its 24-hour crisis and drop-in centre that provides hot meals, activities and social services.

KL airbase relocation works give TRX City a boost
R from www.theedgeproperty.com.my/content/829005/kl-airbase-relocation-works-give-trx-city-boost
TRX City Sdn Bhd (formerly known as 1MDB Real Estate Sdn Bhd) saw a net profit of RM380.6 million in the financial year ended March 31, 2015 (FY2015). But it could have been a lot less had it not been for the income from the relocation of the Kuala Lumpur Air Force base (Pangkalan Udara Kuala Lumpur or PUKL).
The company posted a net profit of RM858.3 million in the previous year.
According to its CEO Datuk Azmar Talib, TRX City has three projects, including the development and upgrading of facilities for the Royal Malaysian Air Force, Rejimen Artileri Diraja and Royal Malaysian Police Air Wing.
“In FY2015, Tun Razak Exchange (TRX) was in the midst of earthworks and infrastructure works, and we are finalising the Bandar Malaysia project master plan. Both projects did not contribute any revenue to the TRX City group. The PUKL project, meanwhile, was progressing well into the construction stage and contributed revenue of RM478 million,” Azmar says in an email reply to The Edge.
The group has signed four deals with local and foreign companies for the development of TRX and Bandar Malaysia since 2014.
According to TRX City’s FY2015 financial report obtained by The Edge, the real estate arm of the soon-to-be-closed 1Malaysia Development Bhd (1MDB) reported lower changes in the fair value of its investment properties during the 12-month period ended March 31 last year, which resulted in the lower profits.
The lower changes were probably due to the group reclassifying its investment properties into land held for property development as it has started developing some portions of the land in Jalan Tun Razak.
During the period, TRX City disposed of the freehold tract in Sungai Besi to its then wholly-owned subsidiary Bandar Malaysia Sdn Bhd for RM4.2 billion. Sixty per cent of Bandar Malaysia was acquired by a consortium comprising Iskandar Waterfront Holdings Sdn Bhd and China Railway Engineering Corp (M) Sdn Bhd late last year for RM5.28 billion.
While TRX City was supposed to be the real estate developer of the strategic investment fund, actual works on the site, especially at TRX, commenced only about a year ago. The company has awarded two infrastructure contract packages to WCT Holdings Bhd — in 2013 and 2015.
When The Edge visited the TRX site last Wednesday on the group’s invitation, infrastructure works were in full swing, with about 470m of the ingress-egress tunnel connecting the project to Jalan Tun Razak almost completed.
Major earthworks and other utilities infrastructure work are also being carried out, while construction of the underground floors of the 90-storey Signature Tower has been completed. Mulia Group is the developer of the tower, which is set to become the anchor of the financial quarter of TRX.
Despite some progress on the site, TRX is far from becoming a revenue-generating unit for TRX City.
According to Azmar, due to the nature of the project as a property development, revenue and profit are recognised using the percentage of completion method, in compliance with the Malaysian Financial Reporting Standards.
“TRX City entered into joint ventures and land sales transactions with Lendlease on March 19 last year. As at March 31, 2015, the agreement was subject to the fulfilment of conditions precedent, and neither revenue nor profit were available to be recognised.
“Going forward, as the development activities of TRX intensify, the project is expected to contribute substantially to TRX City’s revenue and profit,” Azmar says in the email reply.
It is thus certainly not by chance that the group is undertaking the relocation of the Kuala Lumpur airbase and the development of eight sites to house the armed forces throughout the country.
To recap, in June 2011, 1MDB and the federal government signed a development and relocation agreement for PUKL for a total project cost of RM2.7 billion. Six million sq ft of new facilities will be built in eight different locations for the armed forces, which is three times more than the old airbase floor area.
In return for 1MDB undertaking the construction of the new bases, the strategic development fund was given a cash payment and land. This includes the 480-acre Sungai Besi airport tract, to be developed into Bandar Malaysia, worth RM1.6 billion.
The federal government has agreed to pay the remaining RM1.1 billion in construction cost upon the actual cost being incurred. Any cost overruns or penalties will be borne by 1MDB, with the cost to the federal government remaining at RM2.7 billion.
Subsequently, 1MDB appointed Perbadanan Perwira Harta Malaysia, a unit of Lembaga Tabung Angkatan Tentera or the Armed Forces Fund Board, as the sole turnkey contractor to undertake certain construction works in the relocation of the Kuala Lumpur airbase. It is unclear what “certain construction works” entail.
Azmar says the relocation is ongoing, with an overall completion progress of 50%. “There are eight sites and each has its own schedule.”
Based on TRX City’s 2015 annual report, the group recorded revenue of RM478 million in FY2015, derived mainly from the construction contracts awarded by 1MDB to undertake the relocation of PUKL.
TRX City has raised a substantial amount of money through debts to part-finance the relocation of the airbase, as part of the Bandar Malaysia development agreement. On Dec 20, 2013, the group accepted a RM550 million term-loan facility to partially finance the relocation works.
The term loan was for a tenure of a year with a bullet repayment of the principal sum on Jan 7 last year. TRX City had redeemed the term loan in FY2015, which resulted in its cash and cash equivalents plunging to RM11.2 million from RM555.66 million in the preceding year.
Besides the term-loan facility, the group also issued RM2.4 billion (nominal value) under a sukuk murabahah programme. The proceeds have been utilised to part-finance the cost of the relocation project and to fund its working capital requirements.
Indeed, revenue from the relocation and development of the airbase has been keeping TRX City afloat as the development of TRX has not contributed much revenue or profit to the group.
This is because the disposal of land in TRX to investors is subject to the master developer completing the required infrastructure. According to a TRX City official, some of the land deals the company has entered into with investors have long-term staggered payment periods.
Besides Lendlease, which is developing a lifestyle quarter with TRX City, other companies that have purchased tracts within TRX include Lembaga Tabung Haji (1.6 acres for RM177.5 million) and Affin Bank Bhd (1.25 acres for RM255 million).

Wow! The innovation and creativity is amazing. For such small space 309sf, they can fit in 2 adults, 3 cats with bathtub, big kitchen, cats fun elements, huge TV & big home cinema, GYM etc... 
That's the best ways to increase home value and utilize the space.

With announcement from Bank Negara Malaysia's (BNM) to reduce the Overnight Policy Rate (OPR) by 25 basis points to 3% days back, Maybank is the first bank to act on by reducing the interest rates for loans by 20 basis points. We expect the other banks will follow soon. This move by BNM will expect to give a positive boost to the current soft Malaysia Property Market. Not only that, Malaysian real estate investment trusts (M-REITs) also have more options on investment channel with the loosen from BNM. We hope that more good news coming to help to boost the Malaysia property market.

Here's three news relate to the announcement and aftermath action from the banks & M-REITs.

Refer from StarProperty.my

KUALA LUMPUR: Malayan Banking Bhd is lowering the interest rates for loans and savings by 20 basis points with effect from Friday.
It said the base rate (BR) will belowered by 20 basis points from 3.20% per annum to 3% per annum while its base lending rate (BLR) will also be revised from 6.85% to 6.65% per annum.
The Islamic base rate and base financing rate will be reduced by 20 basis points to 3% per annum and 6.65% per annumn respectively from 3.20% and 6.85% previously.
The move by the country’s largest bank followed Bank Negara Malaysia’s (BNM) unexpected move to reduce the Overnight Policy Rate (OPR) by 25 basis points to 3% at its Monetary Policy Committee (MPC) meeting, citing rising risks from Britain’s exit from the European Union.
BNM said the ceiling and floor rates of the corridor for the OPR were correspondingly reduced to 3.25% and 2.75% respectively.
In a statement issued on Thursday, Maybank’s group president & CEO, Datuk Abdul Farid Alias said the revision in Maybank’s rates will benefit borrowers as all loans/financing pegged to the base rates or BLR/BFR would also be adjusted accordingly.
“This revision will assist existing and potential borrowers contend with the current challenging environment and help spur economic and business growth in the country,” he said.
“We believe it will also support the government’s efforts to ensure that the domestic economy can continue on a steady growth path.”
In line with the reduction in BLR/BFR and base rates, Maybank’s deposit rates will also be revised downwards by up to 20 basis points.
The last revision in Maybank’s BLR was in July 2014 when it was raised by 25 basis points to 6.85% per annum.

Refer from StarProperty.my

KUALA LUMPUR: The 25 basis points (bps) key interest rate cut by Bank Negara is positive for property sector as it will help bolster flagging demand, said PublicInvest Research.
The research house said on Thursday that it estimated that the 25bps cut would boost affordability as it will reduce mortgage amount by about 3.2%.
“That said, the overall impact depends on banks’ pricing of the risks that affects credit spreads andvmargin of financing (especially for new loans).
“All told, it is positive for property sector but weak demand currently is still a concern but sales recovery, which is expected in 2H2016 could provide a stronger rerating catalyst for the sector,” it said.
Bank Negara has cut its key interest rate to 3.00% from 3.25% previously, the first cut since February 2009.
PublicInvest Research maintained Overweight on the property sector.
Although demand is still weak due to concerns over the slowing economy and tightening credit, property developers are expected to register better sales compared to 1H2016 with more launches expected in the next few months.
“Also, most of the property developers’ earnings in the near term are also underpinned by healthy unbilled sales both locally and from overseas,” it said.
It added that property stocks were trading near undeserving distressed valuations albeit recovering somewhat to trade at -1SD below the mean at c.0.7 times discount to book value currently.
“As for the counters under our coverage, we maintain our recommendations except for Eastern and Oriental (E&O) which has moved close to our target price, and hence downgraded to Neutral,” it said.

Refer from StarProperty.my

PETALING JAYA: The overnight policy rate (OPR) rate cut, coupled with proposed measures for mature Malaysian real estate investment trusts (M-REITs) to diversify their investment options, such as embarking on property development, is giving a boost to the otherwise staid sector.
Property stocks including M-REITs enjoyed a brief run-up on Wednesday but remained muted yesterday, although interest in the latter group is expected to emerge following the issuance of a consultation paper by the Securities Commission (SC) on 16 proposals “to facilitate growth of the maturing M-REITs market”.
A key aspect of the proposed changes is to allow M-REITs to invest in a wider range of asset classes, one of which is to allow them to acquire vacant land and undertake property development.
Currently, apart from investments in existing yielding property, REITs in Malaysia are allowed a 10% cap on acquisitions of properties under construction.
This is due to the fact that REITs were not meant to carry construction risks, as their investors are typically yield seekers.
However, the SC’s proposal is to now set a 15% cap on M-REITs’ total asset value for property development, acquisition of vacant land as well as property under construction.
Despite the existing restrictions, a few M-REITs had in the past sought waivers from the regulator for the purchase of vacant land to extend their existing properties, such as Al-Aqar Healtcare REIT in 2012 when it bought land next to its KPJ hospital in Johor, and more recently, Sunway REITs’ purchase of land next to its Sunway Carnival Mall in Penang.
According to the SC, the move to liberalise the requirements on M-REITs will enable them to create more value for their investors.
Under the current requirements, M-REITs that hold old and outdated properties would have to sell these buildings back to their sponsors to be redeveloped, and then repurchase these properties later.
“Allowing M-REITs to undertake redevelopment of their old properties will enable them to enhance the property yield for the benefit of unit holders.
“Similarly, allowing M-REITs to acquire vacant land for purposes of developing new properties will enable them to grow their portfolio of income-generating real estate,” the SC said in the consultation paper.
However, it said the M-REITs that undertake property development must continue to hold the completed property for at least two years from the date of completion.
This, it said, was to ensure that the development activities were conducted purely to enhance its income-generating capacity.
The move to allow property development is not new in the region, as Singapore, which had an earlier 10% limit on property development for its REITs, raised it to 25% last year.
In Hong Kong, property development is limited to 10% of the gross asset value of the REIT.
Another major change proposed by the SC is a fixed leverage limit of 50% for M-REITs.
Currently, M-REITs are already subjected to a 50% limit on their debts, but this can be increased with the approval of unit holders via an ordinary resolution.
“With the current flexibility, there is a risk that an M-REIT may over-leverage in pursuit of rapid growth,” the SC said.
The regulator said the move to set a fixed leverage limit is to contain this risk as well as to ensure sustainable growth.
The consultation paper was issued yesterday, with feedback from the industry due by Sept 13, 2016, following which, the proposals will come into effect.
Meanwhile, following the cut in the OPR, some analysts have unsuprisingly turned more positive on M-REITs, which according to Hong Leong Investment Bank Research (HLIB Research) “is often the darling of equity investors during monetary easing”.
This is because of the REITs’ “stability and high-yielding nature”, pointed out HLIB Research, which has upgraded its rating on the sector to “overweight”, noting that the average M-REIT yield stands at 6.2%.
Affin Hwang Capital noted that “high-yielding sectors such as REITs and companies with high local debt” would be beneficiaries of the lower interest rates.
HLIB Research added that another catalyst for the sector was the enhancement of the guidelines by the SC to enable M-REITs to embark on greenfield development. This could lead to “potential acquisitions of quality assets (by M-REITs) to achieve growth as a softer property outlook presents such an opportunity”.
Analysts highlighted two other positive effects of the OPR cut on M-REITS.
One is that lower interest rates should lead to lower interest payments by REITs which typically gear up to buy their assets. And secondly, the OPR cut should translate into more savings and thus larger disposal incomes for consumers who could be spending more in retail malls, which is a key asset base of a number of M-REITS.
But HLIB Research pointed out that the lower interest rates are unlikely to lead to significant interest savings for M-REITs, as the majority of their borrowings are in fixed-rate loans.
CIMB Research, however, pointed out that it estimates that the OPR cut could see “consumers pocketing an extra RM2.1bil a year due to lower interest payments. Nonetheless, we believe that there will not be a spike in consumer spending in the near term, given the uncertain global economic backdrop.”
CIMB Research has maintained its “neutral” stance on the sector. Malaysia’s REIT market had a total market capitalisation of RM41.07bil as at June 30, 2016, accounting for 17 REITs, including four Islamic REITs.

Yesterday we are talking about market soft but certain project still selling very well. Today we are looking into which group of buyer is the one moving fast. Basically, its "if you don't buy now, its hard to buy later" concept. 
Here's some good sharing from Christina Chin. 








Demand from first-time buyers still strong despite affordability challenge
BY CHRISTINA CHIN
​Refer from TheStar Online

PETALING JAYA: Instead of blowing their cash on pricey gadgets, young Malaysians are saving up for their first home.
While most Gen Y shy away from owning property in developed countries and big cities, demand from millennials here is still holding, especially with parents assisting them with the downpayment, Real Estate and Housing Developers’ Association Malaysia (Rehda) president Datuk Seri F.D. Iskandar said.
(Gen Y, also known as millennials, are commonly referred to those who are born in the early 1980s to 2000s. They are sometimes referred to as the strawberry generation).
Demand from first-time buyers, including the younger generation, remains strong although housing affordability is a challenge, said Bank Negara.

The central bank added that they accounted for 75% of 1.47 million borrowers.
Owning and investing in a house remains a priority for many Malay­sians.
This is reflected in the household borrowing trend where the buying of homes continues to be the fastest growing segment of household lending, with annual growth sustained at double-digit levels (11% as at end-March 2016), said Bank Negara in a statement.
Those who cannot afford it themselves, and do not have parents to help, turn to their friends.
In his 30s, Daryl Toh, and two of his college mates own a condominium in Penang; they pooled their resources to purchase the unit five years ago.
“It’s in a premium area and since we couldn’t afford a place on our own – at least not prime property, we became joint owners.”

Financial adviser Yap Ming Hui said it makes perfect sense to own.
“Of course the Gen Y here are still keen on buying. You pay the instalments and eventually own a home. Only those who can’t afford to buy are forced to rent.”

​Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector of Malaysia adviser Wong Kok Soo said property prices in Hong Kong have escalated beyond the purchasing power of the Gen Y but the trend hasn’t caught on here – yet.
Wong, who is also a consultant with the National House Buyers Association, however, said there were signs that the Gen Y could no longer afford to live in big cities like Kuala Lumpur, Penang Island, Johor Baru and Sabah.
“Parents are chipping in for the downpayment. And, commuting from the suburbs to the city centre is still an option.
“But when prices get inflated far beyond their means, the same will happen here (as in Hong Kong),” said Wong, who, however, felt that even if demand dropped, it would not be substantial.

Iskandar agreed, saying that although the property market was slow now, the drop was manageable.
“Like everything else, it’s cyclical.
“The property market goes up for years and after some time, begins falling before rising again.”
He said the market would pick up with the completion of infrastructure development and public tran­sportation facilities.

Rehda, he said, was working closely with the Government to find ways to facilitate home acquisition especially among first-time buyers.
“We proposed a review of the financing guidelines that have negatively impacted buyers’ ability to secure financing,” he said.