But most of us find that time, like money, has wings and they sure do fly. We spend most of our waking hours working, because we all have to earn our keep. That done, we still face the pressures daily to earn more.
The glum forecast, the GST worries, the daily demands – kids, petrol, groceries, the fear of not having enough. It feels like things are constantly getting more expensive, for everybody.
I had just come back from one of the Rehda Youth green tours that gave me the opportunity to explore the Tokyo property scene. Japan has one of the world’s highest property prices, after the UK, Hong Kong and Singapore and it is here that we observe an interesting phenomenon in terms of property prices.
Studies show that in Japan, because of the high prices, properties are not considered good investments. Unlike other countries where properties have capital value, in Japan, property owners often expect to sell at a lower price 10 to 15 years later.
This is in view of the shrinking population and stagnant economy. On top of that is the finding that there are fewer new-home buyers because homes are unaffordable. So the young people continue to stay with their parents. Quite contentedly.
The unaffordability of homes is universal. The recent March for Homes protest in London saw thousands of people in a mass demonstration demanding more affordable and secure housing. Reports show there are more than 300,000 people on the council waiting list for homes and prices now average about 16 times a Londoner’s average salary.
In the first quarter of 2014, Malaysia’s nationwide house prices rose by 8% from the same period of the previous year. Reasons for the increase are aplenty. They include the growing population, rate of inflation, and supply and cost of skilled labourers.
As developers and corporate entities, we do see a responsibility beyond the commercial aspect. The lack of affordable housing is a problem we need to contemplate, and often because we play a part in our social communities and economy.
We are also responsible for keeping our businesses sustainable – we have our duties to our employees, suppliers, buyers, and of course, the whole eco-system. But it is a capital-intensive business, and pricing needs to correspond to this. So I, as a developer, see myself in the same boat as the young couples starting out who lament: “Everything used to be cheaper.”
So how? That is the constant conversation among ourselves. And the how must come without the compromise on quality because we too have a duty to our buyers.
We look into areas where land is still affordable – we build suburbs, townships outside townships, we spread out and the result is a series of sporadic developments.
As we play our part in building the city, we are met by others in the eco-system who have their own roles to play. As we zone-out, if you like, our public transport system will need to keep up.
As the MRT and additional LRT lines spring up in the Klang Valley, we see a pattern not unlike the cities that have taken that path before us: Singapore, Hong Kong, London.
We are shaping up. And while we have a long way to go (it took London decades and they are still working on it), I am encouraged because I do see that we as a nation are meeting one another in building our cities. Cities cannot be built any other way. We are all in this together.
Sam Tan is executive director of Ken Holdings Bhd and deputy chairman of Rehda Youth.
This is an excerpt of an article first published in the April 4-10, 2015 issue of Focus Malaysia.
The Mitsui Outlet Park KLIA Sepang will open its doors to the public come this 30 May 2015. It is located merely 5 minutes drive to the KLIA and KLIA2, and it is directly accessible from various highways such as Expressway Lingkaran Tengah (ELITE), Maju Expressway (MEX) and South Klang Valley Expressway (SKVE).
It will feature an exciting array of offerings, ranging from luxury and branded products, fashion apparels and accessories, perfumes and cosmetics, chocolates and confectionery, kids and sports wear, to household items and luggage.
It will also offer a scrumptious choice of gastronomic delights and spanning 24,000 square metres of space under the first phase of its development.
The Mitsui Outlet Park KLIA Sepang is the result of a joint venture (JV) between Mitsui Fudosan Co. Ltd and Malaysia Airports Holdings Bhd (MAHB). The outlet will be managed by the JV company, MFMA Development Sdn Bhd (MFMA).
In a media statement today, MFMA said the facility will gradually be completed to about 130 stores by late July.
“There are plans to expand the facility in 2018, as well as 2021, to become the largest outlet mall in Southeast Asia with about 250 stores and floor space of about 44,000 square metres,” it added.
Mitsui Outlet Park KLIA Sepang will provide a flight information display system to enable travellers to keep tabs on their flights without leaving the premises, as well as flight SITA check-in kiosk services for selected airlines, ticket counters for buses, taxies and retnal cars and a free baggage storage service.
The factory outlet concept mall will offer more than 2,000 parking bays, banking services, facilities for the disabled, baby-nursing and changing facilities, first aid services and strollers and wheelchairs for rent. There will also be free shuttle bus services to KLIA and KLIA2 that will run between 8.20am and 11.30pm.
It will be Mitsui Fudosan’s flagship for the Southeast Asian outlet market and is an initiative of the KLIA Aeropolis spearheaded by MAHB in an effort to develop KLIA Sepang as an airport city. Sitting on a 6,750 acre site, future plans will include a golf course, a hotel, a distribution centre and an entertainment park.
Already, more than 120ha have been dedicated to a cargo or logistics park, while over 40ha are allocated for office suites, serviced suites and hostels. Over 80ha will be for hospitality as well as meeting, incentive, convention and exhibition facilities, while 120ha are for the development of institutions.
Mitsui Fudosan is a reputable Japanese real estate and retail property developer, manager and outlet mall operator including 12 branches of Mitsui Outlet Park in Japan, one in Ningbo City, China and another one in Taipei, Taiwan, while MAHB manages 39 domestic and international airports in Malaysia.
MFMA is 70 per cent owned by Mitsui Fudosan with MAHB having a 30 per cent stake. MFMA will lease the land owned by MAHB, and be responsible for constructing the buildings, and leasing it to tenants.
Citing the move towards a Multi-Lane Free Flow (MLFF) system would check traffic congestion at toll plazas, PLUS CEO Muhammad Fuad Khusairi said that the concessionaire was studying several such systems running in other countries.
“Under the system, a gadget or sticker will have to be installed on the windscreen of vehicles. The toll will be calculated using the Radio Frequency Identification or RFID system. There will also be a CCTV network installed on the gantries.
The system will be able to tell the amount that needed to be deducted electronically from the vehicle owner’s account with us,” he told reporters.
Last year, PLUS said it was targeting 100% electronic toll collection at all its toll plazas nationwide by 2020 with a gateless gantry toll collection system (like Singapore’s overhead Electronic Road Pricing gantries), where cars may simply drive through and be charged electronically without the need for slowing down.
The idea of a MLFF electronic toll collection system is not new – as early as 2008, trials with a Mitsubishi-based system utilising microwave transmission technology were carried out at a single location, at the Batu Tiga toll plaza on the Federal Highway.
Earlier, it was reported that from June 1 all toll transactions at both the Mambau and Lukut plazas along the Seremban-Port Dickson Highway (SPDH) will be conducted electronically via Touch ‘n Go cards or SmartTAGs.
Five other toll plazas are also set to go fully electronic in 2015 – they are Jitra, Penang Bridge, Bukit Kayu Hitam and the two toll plazas on the Butterworth-Kulim Expressway.
Raja Nur Ashikin Raja Zainal, director of ERE Consulting Group Sdn Bhd – tasked with undertaking the detailed environmental impact assessment of the project – said: “1,500 respondents were interviewed on the proposed MRT Line 2.
“We also conducted case interviews as well as held many public dialogues and focus group discussions to gain insights on the project.” She added that the final alignment for the 52.2km MRT Line 2 is still being worked out and may be subject to change based on public feedback. The MRT Line 1 alignment was changed before work on the project began after protests from residents over the elevated section that was initially proposed through Bangsar.
The proposed alignment – as of now – will see Line 2 having 25 elevated stations and 11 underground for a total of 36 stations, starting from from Sg Buloh to Serdang and on to Putrajaya.
For the upcoming MRT Line 2, Raja Nur Ashikin said: “The public can head to one of our 27 public display locations between now until May 19. The full report can be downloaded from MRT Corp’s website as well.”
MRT Corp director of strategic communication and public relation, Mahmood Abdul Razak, said the typical frequency for the train – once operational – would be 3.5 minutes apart and the estimated journey time from Sg.Buloh to Putrajaya would be 84 minutes.
He said the proposed MRT Line 2 would also be integrated with the KTM Komuter, Ampang and Kelana Jaya LRT lines, MRT Line 1, Monorail, ERL as well as the proposed high speed rail link to Singapore at several interchanges.
“Once the public have given their feedback and the submission of the assessment to the department of environment completed, the expected commencement of construction should begin early next year.”
While the overall work progress on MRT Line 1 is progressing well, Mahmood said there are pockets which are underperforming with valid reasons. “They were underperforming because there was challenges on the site and the numbers were taken last year.
“An example, is a construction in Pusat Bandar Damansara where the piling took them more than the required number of months because of hard quartz rock.
“When we did our study, We thought it would be quite simple but that wasn’t the case. So that slowed things down. “As at March 2015, where the target is for 85% completion, we are at 79%. We are closing this gap now.”
Property developer Tropicana Corporation Bhd (Tropicana) has entered into a conditional agreement with Tenby Educare Sdn Bhd, the operator of Tenby Schools, to develop a 10-acre international school campus.
The school will be built within the heart of Tropicana’s upcoming 863 acres of self-contained mixed township development called Tropicana Aman at Kota Kemuning in Selangor.
Under the agreement, Tropicana will undertake the construction of the school campus with a built-up area of approximately 225,000 sq ft that can accommodate up to 1,800 local and international students.
Tenby International School at Tropicana Aman is expected to host its first intake of students in September 2018, offering international student-oriented programs for students aged from 3 to 18 years old, including International Primary Curriculum, National Curriculum for England, IGCSEs and A-Level programs.
The collaboration between Tropicana and Tenby Schools is expected to benefit the local community and help nurture the growing community within Tropicana Aman, Kota Kemuning and Shah Alam by providing access to quality international education at affordable fees.
Other townships in the vicinity of Tropicana Aman such as Bandar Rimbayu (by IJM Land) and EcoSanctuary (by Eco World) are expected to help drive future enrolment for the school.
With an establishment history of more than 60 years, Tenby Schools will operate this school as its eighth international school campus.
It started as an expatriate kindergarten in Ipoh, and evolved into an international school, Tenby International School. It then expanded to include a private Malaysian school Sekolah Tenby, or Tenby School in English.
Tenby Schools currently operate five existing international and private school campuses located in Ipoh; Penang; Setia Eco Park in Shah Alam; Miri in Sarawak; and Setia Eco Gardens in Johor Bahru. Two more schools are under construction in Rawang and Setia EcoHill in Semenyih.
Tenby Schools is renowned for its excellence in ensuring an international teaching standards for both its local and international curriculum.
It is committed to enhancing the learning environment in all their schools by providing innovative learning tools and state-of-the-art technology for all students.
Back in March 2015, Tenby Schools became part of Ilmu Education Group Berhad (ILMU), which is the education arm of government-linked private equity firm Ekuiti Nasional Bhd (Ekuinas).
Ekuinas’ education arm ILMU owned the APIIT Education Group, consisting of Asia Pacific University of Technology and Innovation (APU), Asia Pacific Institute of Information Technology (APIIT), Asia Pacific Smart School, Asia Pacific International School and APIIT Sri Lanka.
Besides APIIT, Ekuinas is also the majority shareholder of UNITAR International University and Cosmopoint Group, which owns Kuala Lumpur Metropolitan University College and Cosmopoint International College of Technology. It also owns stakes in Brickfields Asia College and SEG International Berhad through Navis Capital.
ILMU itself has become one of the largest private education groups in Malaysia with more than 30,000 students.
This Tenby venture marks Tropicana’s third venture into the education sector. In August last year, Tropicana entered into a strategic partnership with St. Joseph’s Institution International to build an international school in Tropicana Golf & Country Resort, Petaling Jaya.
In January this year, the developer entered into an agreement to build an international school with GEMS Education in Tropicana Metropark, Subang Jaya.
Located next to affluent neighbourhood of Kota Kemuning, Tropicana Aman is Tropicana’s latest development, as well as its first foray into Kota Kemuning. The self-contained mixed township development will offer neighbourhood commercial, gated community enclaves and guarded residential components.
Tropicana Aman offers accessibility, connectivity, generous open spaces, security and quality. It boasts a 85-acre central park rich in flora and fauna, which will be criss-crossed with wandering ribbons of water and traversed by a 7km-long greenery trail for walking, jogging and cycling.
The township will also house a central residents’ clubhouse with a sports centre and is connected to major highways such as Lebuhraya Shah Alam (Kesas), the Federal Highway, Lebuhraya Kemuning Shah Alam (LKSA), Expressway Lingkaran Tengah (ELITE), South Klang Valley Expressway (SKVE) and the upcoming West Coast Expressway (WCE).
The first phase of “gateless” double-storey link terrace house within a clubhouse-cum-gated community at Tropicana Aman was previewed on 30 April 2015 with an overwhelming response.
According to a source, InterContinental Hotels Group (IHG) is said to be in talks with Goldstone Kuala Lumpur Sdn Bhd (Goldstone), who is the new owner of Menara ING at No. 84, Jalan Raja Chulan.
Menara ING is currently in the process of being converted into a hotel building. The number of hotel rooms have not been finalised. Menara ING is an established, freehold office building located on Jalan Raja Chulan, in the heart of Kuala Lumpur’s Golden Triangle business district.
Goldstone had earlier purchased a majority of commercial space in the property from Tower Real Estate Investment Trust (Tower REIT) for a cash consideration of RM132,340,725.
On 26 March 2015, the manager of the REIT, announced to Bursa Malaysia that the deal has been completed.
Goldstone’s purchase represents ownership in 83% of entire development office space that was owned by Tower REIT. It has a net lettable area of 160,413 sq ft comprising of 19 office parcels and a 100% ownership in the total of 190 car park bays located at 2 levels of basement.
For that reason, some office space that Goldstone had not acquired at Menara ING’s annexed block (3 and a half floors) will be retained for existing office tenants.
Menara ING has been largely vacant following the expiry of tenancy by its anchor tenant AIA Berhad. This comes after ING’s Malaysian business, ING Insurance Berhad, was sold to AIA Group Ltd in 2013. Subsequently, AIA has consolidated the merged operations out of Menara ING.
According to the same source, Goldstone is a company linked to Datuk Dr Tang Yong Chew, who is also developing Kuala Lumpur’s first Ibis Hotel at Jalan Yap Kwan Seng via Winbond Properties Sdn Bhd. The Accor Hotel brand, Ibis, not to be mistaken with sister brand Ibis Styles, will have 678 rooms hence becoming the largest in Asia.
Its parent company Winbond Group is expanding the Ibis chain in Melaka and Penang and has future plans to redevelop Wisma Longrich at Jalan Yap Kwan Seng.
The future Holiday Inn Express hotel is expected to offer complimentary express breakfast, free WiFi and facilities such as self-service business centres and gym, as well as the Holiday Inn Express’ mainstay that is the ‘Great Room’ which fuses a lounge and a bar.
Staying true to the brand, each room would have a flat-screen cable TV, iPod dock, ergonomic work station and tea/coffee maker. The bathroom would include a shower and hairdryer.
Back in January 2012, it was reported that IHG had inked a deal with Singapore-based RB Capital to manage a 200-room Holiday Inn Express Bukit Bintang located on Jalan Sultan Ismail. Under that deal, the hotel would be built by RB Capital’s subsidiary Amsterling Hotels Sdn Bhd.
However, the proposed 25-storey hotel plan was later called off for unknown reason.
RB Capital’s hotel arm completed last year the development of Holiday Inn Express Singapore Clarke Quay, a 442-room hotel that is accreditated with BCA Green Mark Platinum rating.
It is Southeast Asia’s largest Holiday Inn Express hotel and this follows the successful launch of Holiday Inn Express Singapore Orchard Road in July 2013.
Holiday Inn Express is one of the fastest growing hotel brands its its segment. As of 31 December 2014, the brand operates 2,365 hotels, 229,110 hotel rooms and more than 522 hotels in the pipeline around the world. The Asia, Middle East and Africa division operates 24 hotels and 39 more hotels are in the pipeline.
In Malaysia, IHG operates the InterContinental Hotel at Jalan Ampang, Kuala Lumpur; Holiday Inn in Kuala Lumpur Glenmarie and Melaka; and a Holiday Inn Resort in Penang. IHG had once operated the Crowne Plaza Mutiara Kuala Lumpur until it closed in January 2013 for demolishment and redevelopment.
IHG is also said to be bringing its boutique hotel brand, Hotel Indigo, into Kuala Lumpur soon.
Spread across a generous 17-acre land in the heart of Kota Damansara, Tropicana Gardens is a unique integrated development where each element is designed to elevate contemporary living at every level. The master plan comprises a wholesome mix of a shopping mall, a hotel, residences and offices, nestled within its unique urban gardens.
Whilst having a beautiful backdrop of the lake and Seri Selangor Golf Club verdant greens, Tropicana Gardens is located within the mature Kota Damansara neighbourhood, connected to various highways and amenities. Accessible will be further enhanced when the Surian MRT station connected to the development is operational by end of 2016.
Stay connected to life at Cyperus Serviced Residences, the latest launch of Tropicana Gardens. Off¬ering studios, 2-bedroom and 3-bedroom units with built-up ranging from 600 sf to 1,404 sf, these thoughtfully designed spaces offer modern layouts and come fully furnished. Savour your leisure time at the multitude of sports, wellness and lifestyle amenities over 2 generous facilities floors, designed to soothe your body and mind.
Coupled with the unbeatable convenience of a direct connection to the Surian MRT Station, Cyperus is the place you have always wanted to come home to for the comfort of living.
Development Concepts
Direct connection to Surian MRT Station, which will be operational by end 2016.
An “all-in-one” mixed integrated development comprising of a shopping mall, MRT connection, urban gardens, four residential towers, a proposed hotel and a proposed office component.
Sitting atop a 1 million sq ft shopping mall conceptualised by world-renowned retail architecture firm The Jerde Partnership. The shopping mall won the Best Retail Development Malaysia (2014/2015) category at the Asia Pacific Property Awards.
Similar to Namba Parks in Osaka, there will be urban gardens with dynamic terraced gardens that gradually ascend levels and flow across the development and brought to live by canopies of trees, flowers, water features and outdoor terraces.
The development promotes sustainability features as it aims to achieve GBI Gold Rating.
Home Concepts
First batch of sale comprise of units being sold fully-furnished, move-in condition (*It has been changed to unfurnished).
Larger sized units have spectacular views of Seri Selangor Golf Club and lake.
Extensive facilities over 2 floors of over 80,000 sf to fulfill your lifestyle needs.
Property Details
Name : Cyperus Serviced Residences Phase : Tropicana Gardens Phase 3 Developer : Tropicana Indah Sdn Bhd (a member of Tropicana Corporation Bhd) Location : Kota Damansara, Petaling Jaya Property Type : Service Apartment Sch. H of HDA : Yes Tenure : Leasehold 99 years Land Area : 17 acres (whole development) No. of Blocks : One block of 39 storeys Total blocks: 4 blocks No. of Units : 406 units Total units: 1,155 units No. of Lifts : 6 passenger and 1 service lifts Unit Types : Type A: 601 sf (Studio) Type B: 601 sf (Studio) Type C: 600 sf (Studio) Type D: 1,398 sf (3-bedder) Type E: 981 sf (2-bedder) Car Parking Bay : Provided and allocated per unit 1 bay for studio and 2 bays for others Green Rating : GBI Gold Rating Price Range : – Fully Furnished: From RM739,000 – New Package: From RM608,000 Price Per Sq Ft : – Fully Furnished: Averagely RM1,267 psf – New Package: From RM1,010 psf Maintenance : RM0.44 psf, inclusive sinking fund Completion : December 2018
Specifications
Corridor : Natural ventilation Ceiling Height : Floor to floor height – 3.1m (10 ft) Structure : Reinforced concrete Wall : Reinforced concrete / Brickwork Windows : Aluminium framed glass Entrance Door : Timber door Wall Finishes : Plaster and paint Wall tiles full height for all bathrooms Floor Finishes : Tiles for living, dining, kitchen, all bathrooms and yard Porcelain tiles for all bedrooms for Type A, B and C Timber flooring for all bedrooms for Type D and E Air Conditioning : Split unit piping provided Air-conditioning units provided for living and all bedrooms Water Heater : Points provided Water heater unit provided
Contact Developer
Sales Gallery : Tropicana Gardens Sales Gallery Off Persiaran Damansara Indah, Tropicana Indah 47410 Petaling Jaya Selangor Tel / Hotline : +603-7880 0989 +6018-205 8188 Project Website :www.tropicanagardens.com.my
Since listed on Bursa Malaysia in 1992, Tropicana Corporation Berhad has pioneered resort-themed lifestyle in their developments with a DNA that set them apart. This DNA focuses on accessibility, connectivity, innovative concepts and designs, generous open spaces, amenities, facilities, multi-tiered security and quality.
With emphasis on customers’ needs, Tropicana has been innovating and redefining the art of living through the creation of their integrated developments by incorporating residential and commercial components to create thriving townships that are strategically connected.
Testament to Tropicana’s significant achievements that have raised their profile as a leading property developer, the company has been recognized as The Edge Malaysia Top 10 Property Developers 2014, as well as chosen to be the proud receipeint of The Edge Malaysia Notable Achievement Award.
5mins drive to St. Joseph’s Institution International School
10mins drive to IKEA Mutiara Damansara and The Curve
15mins drive to 1 Utama, Empire City and TTDI
25mins MRT ride to KL Sentral
35mins MRT ride to Bukit Bintang
Accessibility:
NKVE Highway
LDP Highway
SPRINT Highway
Penchala Link
Public Transportation:
Pedestrian walkway to Surian MRT Station, which will be operational by end 2016.
Shuttle bus to bring shoppers to Tropicana Gardens mall (routes are yet to be confirmed).
Future Infrastructure:
An underpass will be built at junction between Persiaran Surian and Persiaran Mahogani, part of the MRT works.
Purpose-built Tropicana Gardens Underpass. Direct in and out from B2 mall car park; go in from Sungai Buloh direction, and exit carpark towards LDP direction.
Road widening works in front of Tropicana Gardens development.
Telecommunication:
Fibre optic backbone ready.
Business Park:
Selangor Science Park 1 @ Kota Damansara
Surian Industrial Park
Nouvelle Industrial Park
Sunsuria Technology Centre
Shopping Centre:
Sunway Giza and Sunway Nexis
Encorp Strand Mall
IKEA Mutiara Damansara
IPC Shopping Centre
The Curve Shopping Centre
e@Curve
1 Utama Shopping Centre
Empire City Thematic Shopping Malls (Opening 2015)
School & International School:
Sekolah Sri KDU (Primary and Secondary)
Sri KDU International School
Seven Skies International School
The British International School of Kuala Lumpur
HELP International School, Subang Bestari
St. Joseph’s Institution International School, Tropicana (Opening 2016)
University & College:
SEGi University Main Campus, Kota Damansara
Twintech International University College of Technology
KBU International College
Healthcare:
Tropicana Medical Centre
KPJ Damansara Specialist Hospital
KPJ Sungai Penchala Damansara Specialist Hospital (Opening 2018)
PTLM Guide is a general guideline that could be used by an investor to gauge the concepts and sustainability of any development. The key points are outlined here for easy reference. This enables an investor to evaluate his strategy of investment based on systematic set of criterias.
In this page, we do not publish specific scores achieved by this project for any of these criterias.
A. The Entry Facts
Location, visibility and environment
Uniquely situated close to a variety of matured amenities, especially its own future large mall component, upcoming MRT, an international school, a university and golf clubs. High visibility from NKVE and Persiaran Surian.
Distance to key locations and growth value of an address
Kota Damansara is becoming a matured address within the semi-affluent Damansara Corridor of Petaling Jaya.
Concepts, architectural and practicality aspects
“80% percentile” integrated living concept is achievable. Work, live, play, shop and entertain. Urban greens are also emphasized with a beautiful view over lake, golf club and urban view.
Density of development
Currently, a total of 1,155 units will be built over three phases and over 17 acres. The density of this development is still reasonable.
Developer and branding
Tropicana Corporation Berhad is a well known local developer with established branding under the “Tropicana” brand.
Price level and price comparison
At over RM1,000 psf, Tropicana Gardens is a price leader in the vicinity and a new price record amongst new residential launches in Petaling Jaya. We noted that this price level is comparable to some subsale prices in Kuala Lumpur downtown.
Here, it is marketed as a benchmark project given all the combination of factors, such as entire product mix, fully furnished package, MRT integration, the address of Kota Damansara and other unique selling points.
Surrounding commercial, infrastructure, amenities, distance and accessibility
Kota Damansara is a highly commercialised suburb together with matured amenities. Dataran Sunway is a well known business address. Based on our computation, the MRT commutation time from Surian station to Bukit Bintang station would be around 35 minutes (10 stations away) and less than 25 minutes to KL Sentral. Some other efforts put in to alleviate the traffic congestion in the area are:
(1) An underpass at junction between Persiaran Surian and Persiaran Mahogani, part of the MRT works;
(2) Tropicana Gardens’ underpass. Direct in and out from B2 mall car park; go in from Sungai Buloh direction, and exit carpark towards LDP direction;
(3) Road widening works in front of development; and
(4) Shuttle bus to bring shoppers to the mall (routes are yet to be confirmed).
Existing demographics
Kota Damansara is largely a mixed demographic area with a moderate purchasing power level.
Presence of future catalystic projects
MRT will be opened more than 1 year ahead of the completion of Cyperus (Dec 2018). Many more future upclass developments in the Damansara Corridor will provide room for future appreciation.
Continuity development
There will be another future phase of residences and a future office and hotel components. Tropicana Corporation Berhad is desired to make the office its future corporate headquarters.
Land tenure
Leasehold.
Transit oriented development (if applicable)
Direct pedestrian link to Surian MRT Station.
Integrated retail concept (if applicable)
Its integrated shopping mall with a NLA of 1 million sf is uniquely crafted to suit its future character as a premier neighbourhood mall and integrated development in Kota Damansara. The reason to this is because the mall is being planned to house a gourmet supermarket, a departmental store, a cineplex, an international food court, a fitness centre, a medium-sized exhibition centre, an outdoor entertainment/events hub, a kid’s adventure zone and a rooftop communal garden.
We like the urban gardens concept that mimic Namba Park in Osaka with dynamic terraced gardens that gradually ascend levels and flow across the development and brought to live by canopies of trees, flowers, water features and outdoor terraces. There will also be retail exposure overlooking the lake providing a comfortable environment for food and beverage outlets.
Competitor risk – peer-to-peer product comparison against its vicinity
Its benchmark pricing in Kota Damansara significantly increases its competitor risk against other projects with lower price psf. Competition is relatively high from several upcoming projects such as Emporis Kota Damansara, LUMI Tropicana, Glomac Centro V, Empire City’s new phase, Sunway Kota Damansara’s future phase, Encorp Strand and other newly completed residences. Other projects closeby along the MRT Line are also major competitors.
B. Product Design Buy Factors
Practical unit layout design
We noted generous considerations given to bedrooms, bathrooms and closet area. Layouts are standard efficient and AC ledge demarcated.
Unit orientation
Majority of units face north and south orientation. The orientation for the larger-sized units face Seri Selangor golf/lake view as this would justify the condusiveness for families.
Fittings and furnishings (if applicable)
Fully furnished with quality fittings. Majority of whitegoods are provided. No firmed up appliance brands were mentioned, though. Fully furnished residential-used service apartments are generally not too common in Petaling Jaya.
Note: From May 2015 onwards, buyers will purchase on partially furnished package only. Partially furnished package includes aircons and water heater only.
Sufficiency of parking bay and carpark allocation
Reasonably 1 carpark provided for small units and 2 carparks provided for large units. This development is already integrated with MRT hence the reduced concerns on carpark adequacy.
Design of corridor, corridor spaces and ventilation
Natural ventilation and a central lift lobby. A typical floor has 6 passenger lifts and 1 separated service lift serving 12 standard units. Over 39 residential floors. Waiting time is expected to be reasonable.
Availability of proper refuse area
Available and enclosed away from the central lift lobby.
Variety of facilities, green and open spaces – Example: For families, children-friendly facilities are to be considered
Beach-like entrance to an Olympic-sized 50m swimming pool and three other types of pools – a luxury in Petaling Jaya. Two floors of facilities with over 80,000 sf and a total of 28 facilities. A variety of open gardens and jogging path. We like the Sky Sanctuary that catered for private functions and the duplex-like Sky Gym will overlook scenic views from the top of 42 floors!
Reasonability of maintenance fees based on offered facilities over density
Slightly on the upper side, however, we noted that RM0.44 psf inclusive of sinking fund covered two floors of facilities with over 80,000 sf, a total of 28 facilities and a total of 406 units in this block.
Impressive and modern façade
The façade is modern standard. The curvilinear façade of the mall is most eye-catching.
Entrance statement, guardhouse, drop-off area and lift lobby
Grand drop-off area, lift lobby and space provided for residents waiting lounge.
Security features and privacy design
Standard 3-tier security with 24-hour CCTV, 24-hour Guard patrolling and Access Card System.
Other unique features (if applicable)
Residents may enjoy Seri Selangor Golf Club and lake view (rare greenery in PJ). It is an integrated mixed development with a 1 million sq ft shopping mall below, conceptualised by world-renowned architecture practice, The Jerde Partnership.
Green rating or greening features (if applicable)
The development aims to achieve GBI Gold rating, a key sustainable feature in future developments.
C. Strategic Investment Process
Equip with property market and personal finance knowledge.
Identify your niche by studying close-by competing, similar and future products.
Benchmark against competing product prices on PSF basis.
Study potential commercial viability and retail catchment (for mixed development).
Survey the level of occupancy in the neighbourhood.
Survey existing demographic and resident profile in the vicinity. Example: Close proximity to education hub may bring new demand year after year.
Survey the current rental and subsale price from nearest comparison today.
Forecasting by making estimated future rental assumption.
D. The Exit Strategy
Ensuring personal finance capability to maintain the property for minimum of 5 years.
Ensuring personal finance capability for renovation and value-added activities that will help to mitigate risk factors.
Perform calculation of estimated rental yield for first year of occupancy.
Forecasting by making estimated future subsale price.
Determine profit from investment after settling outstanding loan amount.
This DNA focuses on accessibility, connectivity, innovative concepts and designs, generous open spaces, amenities, facilities, multi-tiered security and quality.
With emphasis on customers’ needs, Tropicana Corporation has been innovating and redefining the art of living through the creation of their integrated developments by incorporating residential and commercial components to create thriving townships that are strategically connected.
Fuelled by passion to be one of the premier property developers in the region, Tropicana Corporation aspires to deliver products that are intrinsically linked with the ‘Tropicana’ brand. The iconic ‘T’ branding is embodied by the core essence of innovation, creativity, quality, excellence and redefining the art of living that not only appeal to the eyes and minds of consumers, but to their hearts as well.
Following an aggressive land-banking phase, Tropicana Corporation has ongoing projects and future developments located in various hotspots throughout Malaysia. The company is in a strong position of growth and remains focused to be one of the largest property development company in the country.
Currently, Tropicana Corporation enjoys a commanding position in the property market attributable to more than 2,000 acres of quality land bank with an approximate total gross development value (GDV) of over RM70 billion.
Testament to Tropicana Corporation’s significant achievements that have raised their profile as a leading property developer, the company has been recognized as The Edge Malaysia Top 10 Property Developers 2014, as well as chosen to be the proud receipeint of The Edge Malaysia Notable Achievement Award.
Completed/past developments:
Tropicana Golf & Country Resort linked houses, townhouses, semi-Ds and bungalows
Tropicana Indah Resort Homes linked houses, semi-Ds, villas and bungalows
Damansara Intan e-Business Park
TSB Commercial Centre in Sungai Buloh
Merchant Square in Tropicana, Petaling Jaya
Arena Mentari in Dataran Mentari, Bandar Sunway
Sri Desa condominiums in Taman Desa
Bayu Puteri condominiums in Tropicana, Petaling Jaya
Suria Serenia is a 331.27-acre new township that will be developed by Sunsuria Bhd. It is carved out from the existing 2,235 acres of plantation land that is being masterplanned by Malaysian conglomerate Sime Darby as Serenia City (formerly Bandar Ampar Tenang).
The freehold township is located in the vicinity of Bandar Kota Warisan in Sepang, just 10 minutes drive south of Putrajaya, the administrative centre of Malaysia. The township’s estimated Gross Development Value (GDV) is RM6.4 billion or more.
The location of the township benefits from its adjacency to the ERL Salak Tinggi Station and local connections connecting the Kuala Lumpur International Airport (KLIA) and Putrajaya/Cyberjaya via the North-South Expressway Central Link (ELITE Highway) and the Putrajaya-Cyberjaya Expressway (Dengkil Bypass/Federal Route 29).
It has been confirmed that Sime Darby will build a full interchange from ELITE Highway and a 4-lane access to the township.
Suria Serenia will host residences, serviced residences, retail shops, business parks and a commercial hub with dynamic and beautiful landscape. The commercial hub features the integration of park and ride facility, business and boutique hotels, workplaces, retail, food and beverage outlets and cultural institutions.
Sunsuria executive chairman Datuk Ter Leong Yap said that the GDV for the first phase of the development is roughly RM900 million. It will feature 663 units of low-rise apartments, priced below RM400,000 per unit.
Emphasis is placed upon the establishment of appropriately scaled development lots with an integrated network of shared connector paths while the integration of the landscape with sustainable water management system will promote enhanced liveability.
In a filing with Bursa Malaysia on 20 April 2015, Sunsuria Bhd said it has signed a conditional agreement to buy the said township land from Sime Darby Property (Sungai Kapar) Sdn Bhd, a wholly owned subsidiary of Sime Darby Property, for RM173.4 million. The transaction values the land at RM41 per sq ft.
The development company, Sime Darby Sunsuria Development Sdn Bhd (SDSDSB), was incorporated as a 50:50 joint venture between Sime Darby Property and Sunsuria Gateway Sdn Bhd, a subsidiary of Sunsuria Bhd.
When the conditions of the purchase agreement are fulfilled, Sunsuria Bhd will then have full control of SDSDSB. This will keep the property developer active for 12 years after the project approval. The company is expected to submit the township planning for approval by June this year.
Co-existing within the Suria Serenia township is China’s first overseas university branch campus, the Xiamen University Malaysia Campus (XMUMC), and the Kuala Lumpur International Outlets (KLIO).
The prestigious university was originally founded by Southeast Asia’s renowned educator Tan Kah Kee, who helped to establish schools for the overseas Chinese community in the region during the early 20th century.
On 3 July 2014, the ground-breaking ceremony for the Xiamen University Malaysia Campus was held.
The university campus will built on an area of 150 acres (area excluded Suria Serenia) with a planned total floor space of 470,000 sq m to be built over two phases and an expected total investment of RM1.3 billion.
The first enrolment of 500 students is expected to begin in September 2015. This will grow to 5,000 in 2020, and eventually reaching its maximum capacity of 10,000 students. Most of the students will come from Malaysia, China, and other neighbouring and regional countries.
XMUMC will offer various bachelor and master degree programs. It will have 5 schools in its first phase: School of Information Science and Technology, School of Ocean and Environment, School of Economics and Management, School of Chinese Language and Culture, and the School of Medicine.
The ratio of students to teachers is set to be 15:1 and all courses will be delivered in English, with the exception of Chinese Studies and Traditional Chinese Medicine.
Meanwhile, Kuala Lumpur International Outlets (KLIO) will be the third outlet shopping centre in the Greater Kuala Lumpur region. It is being developed as a joint venture between Chicago-based Horizon Group Properties and local firm Mainstay Properties Sdn Bhd, the property arm of Mainstay Holdings Sdn Bhd.
The joint venture had earlier purchased 40 acres of land near the proposed interchange, north of XMUMC from Sime Darby to build KLIO.
Scheduled to open on 1 July 2016, KLIO will have a total floor area of 400,000 sq ft. It will be developed over two phases with the first phase taking up 26 acres and the second phase 4 acres. The second phase will be an extension of the first phase.
KLIO will have an outdoor environment with 100% covered walkways, upscale architectural design and materials consistent with the image of the respective luxury retail tenants.
The first phase of the outlet mall is expected to house 150 retailers including a foodcourt and full-service restaurant outlets. Several premium fashion brands is expected to be occupying duplex retail units. There will be 2,000 car parking bays that will be built beneath the outlet mall.
Both Suria Serenia and Serenia City are expected to preview their respective first phase residential late 2015 or 2016.
