The 10 conditions that affect Malaysian properties market value Registration

Regardless of where you are in Malaysia; we often hear “property prices are escalating”, “property now is very expensive”, “property is no longer affordable”, and so on. However, in certain cases, there is a probability where a property’s value can decrease.

Truth is, a property’s value in Malaysia can be influenced in so many ways, be it reasonable or not. Read on to find out the things that can affect the value of a property in Malaysia.

 

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The 5 conditions that can decrease a property’s value

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1. Supernatural discovery

The reason: Haunted house is a definite no-no unless you’re into paranormal activities.

If the thought of seeing someone else’s reflection in the mirror or hearing a baby cry at night (when you don’t have a baby) scares the living daylights out of you, then you are not alone.

Living in a superstitious country such as Malaysia, even when a murder or uncertain death takes place in a house, the house is automatically labelled as a haunted house. Such a scenario will hardly attract any buyers. Thus, the property might be sold at below market price.

Remember that gruesome incident in Mont Kiara where they found a dead man’s body chopped up into 11 pieces in a property that was bought during an auction? Since that horrifying event, numerous people were frightened by auction properties and try to avoid buying auction property.

 

2. Structural problems

The reason: If it happened once, it might happen again and again.

When a construction goes wrong, that is when you get news headlines like “walls collapsed over body”, “roof went flying during thunderstorm”, “windows are randomly breaking”, or even “water coming out of cracked walls”.

Once unfortunate events like these occur, people will start to doubt the structure of properties in the whole neighbourhood.

Remember when Highland Towers collapsed and killed 48 people? Till today, many people are still appalled by that disaster that they try to avoid buying a property there or even visit the area.

Plus, weak or unstable structures are not only a nuisance to repair, but the costs of frequent repairs can be really high.

 

3. Unlucky numbers

The reason: These are the things that bring bad luck into the house, and straight into your life.

Does this sequence seems familiar to you: 1, 2, 3, 3A, 5, 6, 10, 11, 12, 13, 13A, 15?

Though you might only see the replacement of 3A and 13A in Malaysia, but this practice of avoiding instances of the number 4 is called Tetraphobia, a superstition that is very common across East Asian and Southeast Asian regions.

The number ‘4’ is the unlucky number in Chinese culture as the pronunciation of number 4 in Hokkien, Mandarin and Cantonese sounds like the word “death”.

However, in Indian culture, the number ‘8’ is considered unlucky. So if you are selling property to a Chinese or an Indian, by all means please don’t show the Chinese the number 4 units, and the Indian the number 8 units.

Hey, maybe next time we’ll see 7A and 17A. Who knows right?

 

4. Ex-mining pool area

The reason: There is a chance that the house might sink along with you.

It has been more than two decades since ex-mining pool areas in Malaysia started to be developed into housing developments. Nevertheless, some homebuyers are still concerned about sinkholes.

Why? Because just last year, three houses in Kampung Pengkalan Gate Tambahan Dua, Ipoh, Perak were damaged by a five-metre deep sinkhole. Scary, isn’t it?

But then again, there is a case where an ex-mining area was developed into a very successful neighbourhood. For example, Bandar Sunway is now a prominent location where you can find almost everything that you need and it even has that awesomely famous amusement park.

 

5. Overwhelming crime rate

The reason: Hmm, don’t think it is a safe environment to live in.

Crime rate is known to have an impact on a property’s value. If the crime rate is low, then there is a high chance that the property’s value can increase. But if the crime rate is high, there’s a possibility that the property’s value will decrease.

When persistent robbery attacks happen in an area, many will definitely try to stay away from such an unsafe neighbourhood, especially those with kids.

We all seek for a secure and safe living environment, and that is why we see many developers promoting gated and guarded residences.

One thing that you wouldn’t want to ask yourself before stepping out of the house every single day is, do you dare leave your house unattended?

 

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The 5 conditions that can increase a property’s value

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1. GST implementation

The reason: It is pretty obvious that price will increase with tax.

Though we are aware that when we purchase a property, there is no GST (the 6% tax implemented on April 1st) transacted on our sales receipt, but the developers might transfer the extra expenses from raw material to the property’s price sale.

But then again, you can always opt for subsale units, which will not be charged with hidden or unhidden GST.

 

2. Near public transportation

The reason: Going out and about will be a piece of cake.

Guess what? According to the Nielsen Global Survey of Automotive Demand (2014), Malaysia’s car ownership is at 93%, which places us at the third place globally.

No wonder the traffic in Malaysia can be so congested, especially in the city. So, it could be a blessing to be able to own a property that is close to public transportation, such as KTM, Light Rail Transit (LRT), Bus Rapid Transit (BRT) or the future Mass Rapid Transit (MRT).

If you only have to walk a short distance to the nearest station, you might be able to skip waking up at 5am to go to your 9am job. However, you need to make sure that there is a public transportation hub near your office though.

 

3. Shopping spree

The reason: How can you not love going to a shopping mall?

Shopping mall is the perfect place to hang out, dine, watch movies, go bowling, do window shopping, or even to shop till you drop. Having a property near a shopping destination is not only very convenient, but is very valuable.

Most residential areas with famous shopping malls see property prices escalating fast. For example, the value of the properties around One Utama, Sunway Pyramid and Pavilion Kuala Lumpur increased exponentially over time.

If you think the shopping scene here is mundane, take note and be proud that CNN Travel had voted Kuala Lumpur as the fourth best shopping city in the world for two years in a row in 2012 and 2013.

 

4. Expat neighbours

The reason: High-earners attracted to certain neighbourhood due to amenities.

Expatriates are known to afford high-end properties, such as KLCC, Bangsar and Mont Kiara. These neighbourhoods are generally known for the multitude of amenities that has attracted many expats to live within its vicinity.

The prices of property in KLCC have increased due to its prestigious address. When you walk into a neighbourhood and see expats strolling around, the first thing that might come across your head is, “Wow, this must be an affluent area!”

 

5. Universities around

The reason: Ample of students fishing for rental units.

Property prices has a high chance to appreciate when there are several universities around the housing area because there is ongoing competition between homebuyers who are buying for their own stay and property investors who are investing for rental yield.

An example of such a hotspot area is Subang Jaya where Taylor’s College, SEGi College, INTI International University & Colleges and Westminster International College are located. The properties are in high demand by the students and the University staffs that when one tenant moves out, the owner might already have a waiting list.

Now that you know the top things that affect the Malaysian properties, make sure you do your research and choose your next property wisely.

 

– The Star Property, 25 August 2015

EXCLUSIVE: Hundreds of Skyscrapers coming to Downtown Kuala Lumpur Registration

For your convenience, we have listed the details of these developments based on the numbers we plotted on the map.

 

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UPDATED as of 21 October 2015

 

 

1. Mercu Zikay Hotel & Residence

  • Development: one 40-storey hotel (289 rooms) and service suites (130 units)
  • Location: Jalan Raja Abdullah, Kampung Baru
  • Developer: Pembangunan Kampung Baru Sdn Bhd, a subsidiary of Zikay Group
  • Status: under-construction

 

2. The Colony by Infinitum

  • Development: one 56-storey SOHO residences (723 units), retail and club
  • Location: Jalan Dewan Sultan Sulaiman
  • Developer: Macly Equity Sdn Bhd, a jv between Roxy-Pacific Holdings Ltd and Macly Capital Pte Ltd
  • Status: ground work

 

3. Quill Residences and Quill Business Tower

  • Development: one 36-storey service apartments (552 units) and one 40-storey office
  • Location: Jalan Sultan Ismail
  • Developer: Quill Retail Malls Sdn Bhd, a subsidiary of Quill Group
  • Status: land clearing

 

4. Anggun Residences

  • Development: one 38-storey service apartments (384 units)
  • Location: Jalan Sultan Ismail and Jalan Doraisamy
  • Developer: UDA Holdings Bhd
  • Status: under-construction

 

5. Legasi Residen

  • Development: one 47-storey service apartments (639 units) and one 30-storey office
  • Location: Jalan Raja Muda Musa, Kampung Baru
  • Developer: UDA Holdings Bhd
  • Status: ground work

 

6. Unnamed Hotel

  • Development: one 16-storey three-star hotel (198 rooms)
  • Location: Jalan Medan Tuanku
  • Developer: Capital Properties Bhd, a subsidiary of Glenmarie Estates Sdn Bhd
  • Status: planning

 

7. STRIPE Hotel

  • Development: one 20-storey boutique hotel (254 rooms)
  • Location: Jalan Kamunting
  • Developer: Dynamic Property Management Sdn Bhd, a subsidiary of YTL Corporation Bhd
  • Hotel Operator: YTL Hotels & Properties Sdn Bhd
  • Status: under-construction

 

8. Meridian 101° Dang Wangi

  • Development: one 26-storey managed suites (156 units)
  • Location: Jalan Kamunting
  • Developer: Meridian 101 Degree Sdn Bhd, a subsidiary of M101 Holdings Sdn Bhd
  • Hotel Operator: Best Western International, Inc.
  • Status: under-construction

 

9. Safuan Suites

  • Development: one 34-storey service apartments (100 units)
  • Location: Jalan Raja Abdullah, Kampung Baru
  • Developer: Safuan Centre Sdn Bhd, a subsidiary of Safuan Group Bhd
  • Status: ground work

 

10. Unnamed Development

  • Development: one 42-storey hotel (238 rooms), managed suites (340 units), office and 7-level retail mall
  • Location: Lorong Tuanku Abdul Rahman, off Jalan Dang Wangi
  • Developer: Montflex Sdn Bhd, a subsidiary of Suez Capital Sdn Bhd
  • Status: planning

 

11. Menara UOB 2

  • Development: one 29-storey bank heaquarters office
  • Location: Lorong Gombak, off Jalan Raja Laut
  • Developer: UOB Properties (KL) Bhd, a subsidiary of United Overseas Bank (Malaysia) Bhd
  • Status: planning

 

12. Riana 3 @ Bandaraya KL

  • Development: one 49-storey service apartments (711 units)
  • Location: Jalan Bunus, off Jalan Raja Laut
  • Developer: IJM Properties Sdn Bhd, a subsidiary of IJM Land Bhd
  • Status: planning

 

13. Redevelopment of Menara Tun Razak

  • Development: one 50-storey office and one 26-storey office
  • Location: Jalan Raja Laut
  • Developer: Tradewinds Corporation Bhd
  • Status: planning, demolishment of site structure completed

 

Menara Tun Razak will be redeveloped into an iconic commercial development. It is situated on Jalan Raja Laut, just across the road from the headquarters of Kuala Lumpur City Hall.

 

14. Jakel Hotel @ Jakel Square

  • Development: addition of one 13-storey four-star hotel (299 rooms)
  • Location: Persiaran Capsquare, off Jalan Munshi Abdullah
  • Developer: Cemara Land Sdn Bhd, a subsidiary of Jakel Group
  • Status: under-construction

 

15. Unnamed Development

  • Development: two 57-storey service apartments (684 units)
  • Location: Jalan Munshi Abdullah
  • Developer: Capital Square Sdn Bhd, a subsidiary of BRDB Developments Sdn Bhd
  • Status: planning

 

16. Latitud 8

  • Development: one 43-storey SOHO residences (420 units), office, convention facilities and 3-level retail mall
  • Location: Jalan Ampang
  • Developer: Intan Sekitar Sdn Bhd, a jv between consortium Crest Builder Sdn Bhd-Detik Utuh Sdn Bhd and Prasarana Malaysia Bhd
  • Status: planning

 

17. FACE Platinum Kuala Lumpur

  • Development: Platinum Suites (Phase 1) – one 52-storey service apartments (733 units), Phase 2 – one 52-storey service apartments (666 units) and Phase 3 – one 51-storey office and hotel (234 rooms)
  • Location: Jalan Sultan Ismail
  • Developer: Platinum Victory Property Sdn Bhd, a subsidiary of Platinum Victory Group
  • Status: under-construction for Phase 1 and planning for Phase 2 and 3

 

18. Menara YNH – Hilton Kuala Lumpur City Centre & Residences

  • Development: one 58-storey hotel and hotel residences and one 58-storey managed suites, including 5-level retail mall
  • Location: Jalan Sultan Ismail
  • Developer: Kar Sin Bhd, a subsidiary of YNH Property Bhd
  • Hotel Operator: Hilton Worldwide Manage Ltd
  • Status: planning

 

19. Berjaya Central Park – Menara Bangkok Bank and The Ritz-Carlton Residences

  • Development: Phase 1 – one 48-storey office and Phase 2 – one 48-storey hotel residences (289 units)
  • Location: Jalan Ampang and Jalan Sultan Ismail
  • Developer: Wangsa Tegap Sdn Bhd, a subsidiary of Berjaya Corporation Bhd
  • Hotel Operator: The Ritz-Carlton Hotel Company, LLC
  • Status: Phase 1 completing soon

 

20. Vortex Suites & Residences @ KLCC

  • Development: one 58-storey service apartments (432 units)
  • Location: Jalan Sultan Ismail
  • Developer: Wondergem Realty Sdn Bhd, an associate of Monoland Group
  • Status: under-construction

 

21. Cecil Central Residence

  • Development: three 50-storey condominiums (832 units) and one 25-storey super condominiums (46 units)
  • Location: Changkat Perak, off Jalan Perak
  • Developer: Martego Sdn Bhd, a subsidiary of Cheuk Nang (Holdings) Ltd
  • Status: under-construction

 

22. Sky Suites @ KLCC

  • Development: three 62-storey service apartments (985 units), one 43-storey hotel (352 rooms) and 5-level podium
  • Location: Jalan P. Ramlee and Jalan Law Yew Swee
  • Developer: Phoenix Storm Sdn Bhd, an associate of Monoland Group
  • Status: land clearing

 

23. TA3 & TA4

  • Development: one 50-storey hotel (96 rooms) and hotel residences (260 units) and one 50-storey service apartments (222 units), including 5-level podium
  • Location: Jalan P. Ramlee
  • Developer: TA First Credit Sdn Bhd, a subsidiary of TA Global Bhd
  • Status: ground work

 

An integrated high-end commercial development by TA Global, this project consists of two 50-storey hotel and service residence towers located directly opposite the world-renowned Petronas Twin Towers and Suria KLCC.

 

24. Redevelopment of Lai Meng School

  • Development: one 60-storey office and one 60-storey office, hotel (266 rooms) and hotel residences (228 units), including 6-level podium
  • Location: Jalan Ampang
  • Developer: Twinicon (M) Sdn Bhd, a subsidiary of Magna Prima Bhd
  • Status: land for sale

 

25. Redevelopment of Zouk Club

  • Development: one 57-storey hotel (180 rooms) and service apartments (120 units)
  • Location: Jalan Ampang
  • Developer: Ibukota Development Sdn Bhd
  • Status: planning

 

26. W Hotel Kuala Lumpur and Tropicana The Residences

  • Development: one 55-storey hotel (150 rooms) and service apartments (353 units)
  • Location: Jalan Ampang
  • Developer: Tropicana Development Sdn Bhd, a subsidiary of Tropicana Corporation Bhd
  • Hotel Operator: Starwood Hotels & Resorts Worldwide, Inc.
  • Status: under-construction

 

27. Redevelopment of Angkasa Raya

  • Development: one 58-storey office and service apartments (254 units) annexed with one 37-storey boutique hotel (239 rooms), including 11-level podium
  • Location: Jalan Ampang
  • Developer: Aurora Tower At KLCC Sdn Bhd, a subsidiary of UEM Sunrise Bhd
  • Status: planning, demolishment of site structure completed

 

28. Vertices Towers

  • Development: two 44-storey service apartments (462 units)
  • Location: Jalan Saloma, off Jalan Ampang
  • Developer: Fiamma Land Sdn Bhd, a subsidiary of Fiamma Holdings Bhd
  • Status: land clearing

 

29. Le Nouvel KLCC

  • Development: two 43- and 49-storey service apartments (195 units)
  • Location: Lorong Mayang and Jalan Ampang
  • Developer: Hartamaju Sdn Bhd, a subsidiary of Wing Tai Malaysia Bhd
  • Status: completing soon

 

 

30. Holiday Villa Kuala Lumpur City Centre

  • Development: one 27-storey hotel (204 rooms)
  • Location: Jalan Mayang
  • Developer: Holiday Villa Kuala Lumpur Sdn Bhd, a subsidiary of Antara Holiday Villas Sdn Bhd
  • Hotel Operator: Antara Holiday Villas Sdn Bhd
  • Status: ground work

 

31. The Mews Serviced Residences

  • Development: two 38-storey service apartments (256 units)
  • Location: Jalan Yap Kwan Seng
  • Developer: KCB Trading Sdn Bhd, a jv between Eastern & Oriental Bhd and Mitsui Fudosan Co., Ltd
  • Status: under-construction

 

32. Unnamed Development

  • Development: one 30-storey service apartments (60 units)
  • Location: Jalan Mayang
  • Developer: Two Holdings Sdn Bhd, a subsidiary of Malayan United Industries Bhd
  • Status: planning

 

33. Unnamed Development

  • Development: one 45-storey service apartments (528 units)
  • Location: Lorong Yap Kwan Seng, off Jalan Yap Kwan Seng
  • Developer: Suriamas Lumayan Sdn Bhd, a subsidiary of Exsim Group
  • Status: planning

 

34. Ritz Mansion

  • Development: one 38-storey service apartments (200 units)
  • Location: Jalan Yap Kwan Seng
  • Developer: Union Equity Sdn Bhd, a subsidiary of Star Asia Group
  • Status: planning

 

35. Royce Hotel & Residence

  • Development: one 53-storey hotel (338 rooms) and service apartments (396 units)
  • Location: Jalan Yap Kwan Seng
  • Developer: Yuk Tung Properties Sdn Bhd, a subsidiary of Yuk Tung Group
  • Status: planning

 

36. Ibis Hotel Kuala Lumpur

  • Development: one 30-storey hotel (640 rooms)
  • Location: Jalan Yap Kwan Seng
  • Developer: Winbond Properties Sdn Bhd, a subsidiary of Winbond Group
  • Status: under-construction

 

37. Unnamed Development

  • Development: one 27-storey hotel (248 rooms)
  • Location: Jalan Yap Kwan Seng
  • Developer: Yayasan Kobena Bhd
  • Status: planning

 

38. Menara OSK

  • Development: one 66-storey office
  • Location: Jalan Ampang
  • Developer: OSK Realty Sdn Bhd, a subsidiary of OSK Holdings Bhd
  • Status: planning

 

39. Arcadia Residency

  • Development: two 48-storey service apartments (429 units)
  • Location: Jalan Tun Razak
  • Developer: IMC Parkville (KL) Sdn Bhd, a subsidiary of IMC Pan Asia Alliance Group
  • Status: on-hold

 

40. Three28 Tun Razak

  • Development: one 22-storey service apartments (166 units)
  • Location: Jalan Tun Razak
  • Developer: Tan & Tan Developments Bhd, a subsidiary of IGB Corporation Bhd
  • Status: completing soon

 

41. KL Trillion

  • Development: two 40-storey service apartments (368 units), one 34-storey office and retail shop-offices (50 units)
  • Location: Jalan Tun Razak
  • Developer: Perumahan SLG Central Sdn Bhd, a subsidiary of Sim Lian Group Ltd
  • Status: completing soon

 

42. Olympia Plaza and Marriott Residences

  • Development: one 47-storey hotel (300 rooms) and service apartments (300 units)
  • Location: Jalan Tun Razak
  • Developer: Olympia Plaza Sdn Bhd, a subsidiary of Melody Hallmark Sdn Bhd
  • Status: planning

 

43. ILHAM Tower

  • Development: one 58-storey office and service apartments (228 units)
  • Location: Jalan Binjai
  • Developer: IB Tower Sdn Bhd
  • Status: just completed

 

44. Unnamed Development

  • Development: one 49-storey service apartments (452 units)
  • Location: Jalan Tun Razak
  • Developer: Future Pinnacle Sdn Bhd, a subsidiary of Tan & Tan Developments Bhd
  • Status: planning

 

45. Pavilion Embassy Kuala Lumpur

  • Development: two 24-storey office and one 32-storey service apartments (318 units), including 10-level podium
  • Location: Jalan Ampang
  • Developer: Pedoman Ikhtisas Sdn Bhd, a subsidiary of Global Oriental Bhd
  • Status: planning

 

46. Redevelopment of British High Commission

  • Development: n/a
  • Location: Jalan Ampang
  • Developer: Setia Hicon Sdn Bhd, a subsidiary of S P Setia Bhd
  • Status: planning

 

47. The Hammock

  • Development: old proposal consists of two 23-storey condominiums (224 units)
  • Location: off Jalan Ampang
  • Developer: IOI Properties Group Bhd
  • Status: land conversion

 

48. VERVE® Suites KLCC

  • Development: one 36-storey service apartments (270 units)
  • Location: Jalan Tun Razak
  • Developer: Bukit Kiara Properties Sdn Bhd
  • Status: land for sale

 

49. U-Thant Place

  • Development: one 11-storey super condominiums (18 units)
  • Location: Jalan Taman U-Thant
  • Developer: Budaya Bersatu Sdn Bhd, a subsidiary of YTL Land & Development Bhd
  • Status: land clearing

 

50. Platinum Park Residences

  • Development: Phase 1 – one 42-storey service apartments (392 units) and Phase 2 – one 61-storey service apartments (520 units), including 7-level podium
  • Location: Lorong Kuda and Jalan Stonor
  • Developer: Naza TTDI Sdn Bhd, a subsidiary of Naza Group
  • Status: planning

 

A Park. Apart. Platinum Residences At Platinum Park Kuala Lumpur, stunningly designed by Lord Norman Foster’s acclaimed architectural practice Foster + Partners are influenced by the majesty of Malaysia’s tropical landscape.

 

51. Aria @ KLCC Service Residence

  • Development: two 46-storey service apartments (598 units)
  • Location: Jalan Tun Razak
  • Developer: Hap Seng Land Development (JTR2) Sdn Bhd, a subsidiary of Hap Seng Consolidated Bhd
  • Status: ground work

 

52. Stonor 3

  • Development: one 41-storey service apartments (400 units)
  • Location: Lorong Stonor, off Persiaran Stonor
  • Developer: Cipta Klasik (M) Sdn Bhd, a jv between Tan & Tan Developments Bhd and Mitsubishi Jisho Residence Co., Ltd
  • Status: ground work

 

53. 10 Stonor

  • Development: one 49-storey service apartments (364 units)
  • Location: Persiaran Stonor
  • Developer: Gallimont Development Sdn Bhd, a subsidiary of Boon Siew Group (BSG Property and Katana Developments)
  • Status: ground work

 

54. Unnamed Development

  • Development: one 30-storey super condominiums (80 units)
  • Location: Persiaran Stonor
  • Developer: Leong Seong Cheong @ Leong Siew Choong
  • Status: on-hold

 

55. Bombay Tower

  • Development: one 32-storey office
  • Location: Jalan Tun Razak
  • Developer: Tong Ah Company Sdn Bhd
  • Status: ground work

 

56. The Manor Kuala Lumpur

  • Development: one 46-storey condominiums (212 units)
  • Location: Persiaran Stonor
  • Developer: Desaria Property Sdn Bhd
  • Residence Operator: Alorie Hospitality Sdn Bhd
  • Status: ground work

 

57. Unnamed Development

  • Development: one 33-storey service apartments (285 units)
  • Location: Persiaran Stonor
  • Developer: Nautical Frontier Sdn Bhd, a subsidiary of Malaysia Land Properties Sdn Bhd
  • Status: land clearing

 

58. Unnamed Development

  • Development: n/a
  • Location: Jalan Stonor
  • Developer: YTL Land & Development Bhd
  • Status: n/a

 

59. 6 Stonor

  • Development: one 61-storey service apartments (200 units)
  • Location: Jalan Stonor
  • Developer: Tan & Tan Developments Bhd, a subsidiary of IGB Corporation Bhd
  • Status: planning

 

60. Redevelopment of German Embassy

  • Development: n/a
  • Location: Jalan Kia Peng
  • Developer: Legasi Azam Sdn Bhd, a subsidiary of Malaysian Resources Corporation Bhd
  • Status: pending land acquisition

 

61. Eaton Residences

  • Development: one 51-storey service apartments (632 units)
  • Location: Jalan Kia Peng
  • Developer: City View Ventures Sdn Bhd, a subsidiary of GSH Corporation Ltd
  • Status: planning, demolishment of site structure

 

62. The Grid, 21 Kia Peng

  • Development: one 36-storey service apartments (277 units)
  • Location: Jalan Kia Peng
  • Developer: Onesentral Park Sdn Bhd, a subsidiary of Malaysian Resources Corporation Bhd
  • Status: ground work

 

63. Unnamed Development

  • Development: two 30- and 40-storey service apartments (298 units)
  • Location: Jalan Kia Peng
  • Developer: Patsawan Properties Sdn Bhd, a jv between Eastern & Oriental Bhd and Mitsui Fudosan Co., Ltd
  • Status: planning, demolishment of site structure

 

64. Unnamed Development

  • Development: n/a
  • Location: Jalan Eaton
  • Developer: Tenang Sempurna Sdn Bhd, an associate of Titijaya Land Bhd
  • Status: planning, demolishment of site structure

 

65. 8 Kia Peng Residences @ KLCC

  • Development: one 50-storey SOHO residences (127 units) and service apartments (315 units)
  • Location: Changkat Kia Peng, off Jalan Kia Peng
  • Developer: i-Marcom Sdn Bhd, a subsidiary of i-Bhd
  • Status: ground work

 

66. Unnamed Development

  • Development: n/a
  • Location: Changkat Kia Peng, off Jalan Kia Peng
  • Developer: Sabna Development Sdn Bhd, a subsidiary of GuocoLand (Malaysia) Bhd
  • Status: on-hold

 

67. 8 Conlay – Kempinski Hotel & Residences and 8 Conlay Residences

  • Development: one 72-storey hotel (260 rooms) and hotel residences (300 units) and one 61-storey service apartments (564 units) with skybridge connecting one 56-storey service apartments (498 units), including 10-level podium
  • Location: Jalan Conlay
  • Developer: Damai City Sdn Bhd, a subsidiary of KSK Land Sdn Bhd
  • Hotel Operator: Kempinski Hotels S.A.
  • Status: ground work

 

Designed by RSP Architects, a leading Malaysian architecture firm, this one-of-a-kind development in the centre of Kuala Lumpur features a world-class Kempinski Hotel, Europe’s oldest luxury hotel group, spectacular service residences and branded residences, as well as an upscale retail emporium that brings out the very essence of bespoke living.

 

68. Banyan Tree Signatures Pavilion Kuala Lumpur

  • Development: one 59-storey hotel (54 rooms), managed suites (66 units) and service apartments (441 units)
  • Location: Jalan Conlay
  • Developer: Lumayan Indah Sdn Bhd, a subsidiary of Pavilion Group
  • Hotel Operator: Banyan Tree Holdings Ltd
  • Status: under-construction

 

69. Harrods Square – Harrods Hotel & Residences

  • Development: one 61-storey service apartments (508 units), one 52-storey service apartments (516 units), one 31-storey office, one 27-storey hotel (102 rooms) and hotel residences (60 units), including 4-level podium
  • Location: Jalan Conlay and Jalan Raja Chulan
  • Developer: Jerantas Sdn Bhd, a jv between Tradewinds Corporation Bhd and Gagasan Simfoni Sdn Bhd
  • Status: planning

 

Harrods Square will be skybridge-linked to the Pavilion Kuala Lumpur shopping mall.

 

 

70. Menara Khuan Choo

  • Development: one 10-storey office
  • Location: Jalan Raja Chulan
  • Developer: Macorp Sdn Bhd, a subsidiary of Malton Bhd
  • Status: land clearing

 

71. Royale Pavilion Hotel

  • Development: one 13-storey hotel (329 rooms) atop Pavilion Kuala Lumpur retail mall
  • Location: Jalan Bukit Bintang and Jalan Raja Chulan
  • Developer: Harmoni Perkasa Sdn Bhd, a subsidiary of Pavilion Group
  • Status: under-construction

 

72. Pavilion Suites Kuala Lumpur

  • Development: one 51-storey service apartments (382 units), including 10-level retail mall extension
  • Location: Jalan Bukit Bintang
  • Developer: Urusharta Cemerlang Sdn Bhd, a subsidiary of Pavilion Group
  • Status: under-construction

 

Pavilion Suites is seamlessly connected to the multi-award winning Pavilion Kuala Lumpur where high fashion meets the very best lifestyle offerings in the last prime residential real estate within Kuala Lumpur City Centre. Pavilion Suites is a prized address of Prestige, Luxury and Distinction.

 

73. Unnamed Hotel

  • Development: one 46-storey hotel (200 rooms) and managed suites (250 units)
  • Location: Jalan Bukit Bintang
  • Developer: Kenco Trading Sdn Bhd, a subsidiary of City Motors Group Sdn Bhd
  • Status: planning

 

City Motors Group, through its member company Kenco Properties Sdn Bhd, in a joint venture with Mass Rapid Transit Corp Sdn Bhd, is seeking approval to build a 46-storey, four-star business hotel and suites near the Pavilion Kuala Lumpur.

 

74. YTL New Headquarters

  • Development: one 42-storey office
  • Location: Jalan Bukit Bintang
  • Developer: Pinnacle Trend Sdn Bhd, a subsidiary of YTL Corporation Bhd
  • Status: on-hold

 

75. Dorsett Residences Bukit Bintang

  • Development: one 30-storey service apartments (252 units)
  • Location: Jalan Imbi
  • Developer: Dorsett Bukit Bintang Sdn Bhd, a subsidiary of Far East Consortium International Ltd
  • Status: under-construction

 

76. Nova Square

  • Development: one 48-storey hotel (374 rooms) and managed suites (216 units), one 44-storey service apartments (342 units) and one 46-storey service apartments (645 units), including 6-level podium
  • Location: Jalan Imbi and Jalan Bukit Bintang
  • Developer: Astra Dinamik Sdn Bhd, a subsidiary of TA Global Bhd
  • Status: planning

 

77. Tribeca Bukit Bintang

  • Development: one 37-storey service apartments (318 units)
  • Location: Jalan Imbi
  • Developer: Bakti Dinamik Sdn Bhd, a subsidiary of Low Chuan Holdings Sdn Bhd
  • Status: under-construction

 

78. Unnamed Development

  • Development: two 45-storey office and one 45-storey service apartments (67 units), including 7-level retail mall
  • Location: Jalan Bukit Bintang
  • Developer: Udapakat Bina Sdn Bhd, a subsidiary of YTL Land & Development Bhd
  • Status: on-hold

 

79. Agile Bukit Bintang

  • Development: three 55-storey service apartments (1,204 units)
  • Location: Jalan Bukit Bintang, Jalan Delima and Jalan Jati
  • Developer: Tropicana Bukit Bintang Development Sdn Bhd, a jv between Tropicana Corporation Bhd and Agile Property Holdings Ltd
  • Status: planning

 

80. Unnamed Development

  • Development: one 59-storey service apartments (438 units) and one 37-storey hotel (281 rooms)
  • Location: Jalan Bukit Bintang
  • Developer: LTS Resources Holdings (M) Sdn Bhd, a subsidiary of TS Law Holding Sdn Bhd
  • Status: planning

 

81. Unnamed Development

  • Development: two 42- and 46-storey service apartments (673 units)
  • Location: Jalan Tun Razak
  • Developer: Multibay Development Sdn Bhd, a subsidiary of Akisama Land Sdn Bhd
  • Status: planning

 

82. Unnamed Development

  • Development: two 52-storey SOHO residences (1,245 units)
  • Location: Jalan Kampung, Jalan Inai and Jalan Kemuning
  • Developer: LTS Resources Holdings (M) Sdn Bhd, a subsidiary of TS Law Holding Sdn Bhd
  • Status: planning

 

83. Unnamed Hotel

  • Development: one 52-storey hotel (650 rooms)
  • Location: Jalan Walter Grenier and Jalan Palmer
  • Developer: Shanghai City Sdn Bhd, a subsidiary of City Growth Sdn Bhd
  • Status: planning

 

84. Redevelopment of NAS Pavilion

  • Development: n/a
  • Location: Jalan Imbi and Jalan Sultan Ismail
  • Developer: Caribbean Gateway Sdn Bhd, a subsidiary of MPHB Capital Bhd
  • Status: on-hold

 

85. Redevelopment of BB Plaza

  • Development: one 56-storey service apartments (413 units), including 12-level retail mall
  • Location: Jalan Bukit Bintang
  • Developer: Zurah Ventures Sdn Bhd, a jv between Tradewinds Corporation Bhd and UDA Holdings Bhd
  • Status: planning, demolishment of site structure

 

 

86. Unnamed Development

  • Development: one 46-storey service apartments (620 units)
  • Location: Jalan Imbi
  • Developer: Berjaya Times Square Sdn Bhd, an associate of Berjaya Corporation Bhd
  • Status: on-hold

 

87. Redevelopment of Hotel Fortuna

  • Development: one 59-storey service apartments (413 units)
  • Location: Jalan Berangan, off Jalan Sultan Ismail
  • Developer: KKH Development Sdn Bhd
  • Status: planning

 

88. Tropicana Sultan Ismail

  • Development: one 44-storey service apartments (174 units) and one 39-storey hotel (209 rooms) and hotel residences (126 units), including 12-level podium
  • Location: Jalan Sultan Ismail
  • Developer: Tropicana KL Development Sdn Bhd, a subsidiary of Tropicana Corporation Bhd
  • Status: planning

 

89. Unnamed Development

  • Development: one 25-storey office and service apartments (46 units)
  • Location: Jalan Sultan Ismail
  • Developer: Amsterling Sdn Bhd, a subsidiary of RB Capital Pte Ltd
  • Status: on-hold

 

90. The Robertson

  • Development: two 41- and 45-storey service apartments (793 units) and one 10-storey commercial and retail block
  • Location: Jalan Robertson, off Jalan Pudu
  • Developer: Idaman Robertson Sdn Bhd, a subsidiary of Gamuda Land Sdn Bhd
  • Status: under-construction

 

91. Plaza Rakyat

  • Development: original scheme before project was abandoned comprised of one 79-storey office, one 46-storey service apartments, one 24-storey hotel and one 7-storey retail mall and a bus terminal
  • Location: Jalan Pudu
  • Developer: Kuala Lumpur City Hall (DBKL) has awarded to Profit Consortium Sdn Bhd
  • Status: pending land acquisition and revival scheme with new plans

 

92. WOLO Chinatown

  • Development: one 19-storey boutique hotel (288 rooms)
  • Location: Jalan Tun H.S. Lee
  • Developer: Mammoth Empire Holding Sdn Bhd
  • Hotel Operator: Europrima Sdn Bhd
  • Status: commencement of redevelopment/refurbishment works on former Wisma Megah/Bangunan Hong Leong

 

93. VIDA Bukit Ceylon

  • Development: one 24-storey SOFO suites (71 units)
  • Location: Changkat Raja Chulan and Jalan Ceylon
  • Developer: Spritzer Resources Sdn Bhd, an associate of Spritzer Bhd
  • Status: under-construction

 

94. Pavilion Ceylon Hill

  • Development: one 39-storey service apartments (641 units)
  • Location: Changkat Raja Chulan
  • Developer: Crystal Nectar Sdn Bhd, a subsidiary of Pavilion Group
  • Status: planning

 

95. The Manhattan, Residen 61 Raja Chulan

  • Development: one 30-storey service apartments (129 units)
  • Location: Jalan Raja Chulan
  • Developer: Peninsular Smart Sdn Bhd, a subsidiary of United Engineers Ltd
  • Status: under-construction

 

96. Unnamed Development

  • Development: one 39-storey service apartments (136 units)
  • Location: Jalan Raja Chulan
  • Developer: KLK Development Sdn Bhd
  • Status: land for sale

 

97. Redevelopment of Wisma MPL

  • Development: redevelopment/refurbishment of existing 23-storey office and addition of one 57-storey office, including 8-level podium
  • Location: Jalan Raja Chulan
  • Developer: Malaysia Pacific Corporation Bhd
  • Status: on-hold

 

98. Holiday Inn Express Kuala Lumpur

  • Development: one 21-storey hotel (300 rooms)
  • Location: Jalan Raja Chulan
  • Developer: Goldstone Kuala Lumpur Sdn Bhd, a subsidiary of Winbond Group
  • Status: commencement of redevelopment/refurbishment works on former Menara ING

 

99. Menara Public Mutual

  • Development: one-40-storey office
  • Location: Jalan Raja Chulan
  • Developer: Public Holdings Sdn Bhd, a subsidiary of Public Bank Bhd
  • Status: under-construction

 

100. Oasia Hotel Suites Kuala Lumpur (Plaza Atrium)

  • Development: two 23- and 34-storey service apartments (163 units)
  • Location: Lorong P. Ramlee, off Jalan P. Ramlee
  • Developer: Pinehigh Development Sdn Bhd, a subsidiary of Far East Orchard Ltd
  • Status: completing soon

 

101. PNB 1194 and MAS Building

  • Development: addition of one 50-storey hotel (700 rooms) annexed with the redevelopment/refurbishment of existing 35-storey office
  • Location: Jalan Sultan Ismail
  • Developer: Permodalan Nasional Bhd
  • Status: under-construction

 

102. Equatorial Plaza – Hotal Equatorial Kuala Lumpur

  • Development: one 52-storey office and hotel (441 rooms)
  • Location: Jalan Sultan Ismail
  • Developer: Hotel Equatorial (M) Sdn Bhd
  • Hotel Operator: Hotel Equatorial (M) Sdn Bhd
  • Status: under-construction

 

103. Menara Hap Seng 3

  • Development: one 23-storey office
  • Location: Jalan P. Ramlee
  • Developer: Hap Seng Realty (Autohaus) Sdn Bhd, a subsidiary of Hap Seng Consolidated Bhd
  • Status: planning

 

104. Redevelopment of Wisma Hong Leong

  • Development: n/a
  • Location: Jalan Perak
  • Developer: Hong Leong Management Co. Sdn Bhd, a subsidiary of Hong Leong Group
  • Status: planning

 

105. The RuMa Hotel & Residences

  • Development: one 41-storey hotel (253 rooms) and hotel residences (199 units)
  • Location: Jalan Kia Peng
  • Developer: Urban DNA Sdn Bhd, a jv between Ireka Corporation Bhd and Aseana Properties Ltd
  • Hotel Operator: Urban Resort Concepts Ltd
  • Status: under-construction

 

106. Imperial Lexis Kuala Lumpur

  • Development: one 49-storey hotel (196 rooms) and managed suites (215 units)
  • Location: Jalan Kia Peng
  • Developer: Kuala Lumpur Cosmopolitan Sdn Bhd, a subsidiary of Kuala Lumpur Metro Group
  • Hotel Operator: Lexis Hotels & Resorts Sdn Bhd
  • Status: planning

 

107. Lot D1 KLCC

  • Development: one 60-storey office
  • Location: Jalan Pinang
  • Developer: Impian Cemerlang Sdn Bhd, a subsidiary of KLCC Property Holdings Bhd
  • Status: on-hold

 

108. Nouvo Hotel

  • Development: one 28-storey three-star hotel (189 rooms)
  • Location: Jalan Sultan Ismail
  • Developer: Concorde Arch (M) Sdn Bhd
  • Status: planning

 

109. Four Seasons Place Kuala Lumpur

  • Development: one 65-storey hotel (204 rooms), hotel residences (27 units) and service apartments (242 units), including 7-level retail mall
  • Location: Persiaran KLCC, off Jalan Ampang
  • Developer: Venus Assets Sdn Bhd
  • Hotel Operator: Four Seasons Hotels and Resorts Asia Pacific Pte Ltd
  • Status: under-construction

 

110. Lot 185, Lot 167(K) and Lot 176 – Fairmont Kuala Lumpur

  • Development: one 80-storey office, one 59-storey hotel (690 rooms) and one 9-level retail mall with underground and skybridge connections to Suria KLCC
  • Location: Persiaran KLCC, off Jalan Ampang
  • Developer: Cititower Sdn Bhd, a jv between KLCC (Holdings) Sdn Bhd and QD Asia Pacific Ltd
  • Hotel Operator: Fairmont Raffles Hotels International, Inc.
  • Status: ground work

 

111. Sapura Tower

  • Development: one 51-storey office and convention facilities
  • Location: Jalan Kia Peng
  • Developer: Impian Bebas Sdn Bhd, a jv between KLCC (Holdings) Sdn Bhd and Sapura Resources Bhd
  • Status: ground work

 

112. Oxley Towers – Sofitel So Kuala Lumpur, Jumeirah Kuala Lumpur Hotel and Jumeirah Living Kuala Lumpur Residence

  • Development: one 79-storey hotel (219 rooms) and hotel residences (613 units), one 49-storey hotel (190 rooms) and hotel residences (273 units) and one 28-storey office, including 8-level podium
  • Location: Jalan Ampang
  • Developer: Oxley Rising Sdn Bhd, a subsidiary of Oxley Holdings Ltd
  • Hotel Operator: Jumeirah International LLC and AAPC Singapore Pte Ltd
  • Status: planning

 

113. Star Residences and Star Boulevard

  • Development: one 56-storey service apartments (557 units), two 57-storey service apartments (964 units) and one 6-storey commercial and retail block
  • Location: Jalan Mayang
  • Developer: Alpine Return Sdn Bhd, a jv between Symphony Life Bhd and United Malayan Land Bhd
  • Status: ground work

 

114. Revival of Grand Duta Building

  • Development: one 64-storey hotel (325 rooms), service apartments (701 units), office and 6-level podium
  • Location: Jalan Ampang and Jalan Sultan Ismail
  • Developer: Duta Grand Hotels Sdn Bhd, a subsidiary of DutaLand Bhd
  • Status: under-construction

 

115. Sunway Tower 1

  • Development: one 35-storey office
  • Location: Jalan Ampang
  • Developer: Sunway Tower 1 Sdn Bhd, a subsidiary of Sunway Bhd
  • Status: on-hold

 

116. Redevelopment of SJK(C) Jalan Imbi

  • Development: one 69-storey service apartments (956 units), including 5-level retail mall
  • Location: Jalan 1/77B, off Jalan Imbi
  • Developer: Elite Starhill Sdn Bhd
  • Status: planning

 

117. Unnamed Development

  • Development: one 50-storey service apartments (400 units) and two 37-storey office, including 8-level retail mall
  • Location: Jalan Conlay
  • Developer: Pelaburan Hartanah Bhd
  • Status: planning

 

118. Tradewinds Square

  • Development: one 110-storey office and 61-storey hotel and service apartments, including 10-level retail mall
  • Location: Jalan Sultan Ismail
  • Developer: Tradewinds Corporation Bhd
  • Status: on-hold, demolishment of site structure completed

 

Tradewinds Square rises 775 metres high and will become Malaysia’s tallest building superseding the 452 metres Petronas Twin Towers. – Pic by The Edge. Extracted from Winds of Change article, published on DigitalEdge Weekly 24 August 2015.

 

119. KL118 Tower (formerly known as Warisan Merdeka)

  • Development: one 118-storey office, hotel (250 rooms), service apartments and 8-level retail mall
  • Location: Jalan Hang Jebat and Jalan Stadium
  • Developer: PNB Merdeka Ventures Sdn Bhd, a subsidiary of Permodalan Nasional Bhd
  • Status: ground work

 

120. Redevelopment of French Embassy

  • Development: n/a
  • Location: Jalan Ampang
  • Developer: Putrajaya Ventures Sdn Bhd, a subsidiary of Putrajaya Holdings Sdn Bhd
  • Status: pending land acquisition

 

121. Redevelopment of Menara DBKL 2

  • Development: one 57-storey office
  • Location: Jalan Raja Laut
  • Developer: Kuala Lumpur City Hall (DBKL)
  • Status: cancelled

 

Kuala Lumpur’s Mayor Datuk Mohd Amin Nordin Abd Aziz recently told StarMetro that City Hall would go ahead with plans to demolish its existing Menara DBKL 2 in Jalan Raja Laut and rebuild it as City Hall’s new modern headquarters.

 

122. Jakel Residences Kuala Lumpur City Centre (Lot 195)

  • Development: n/a
  • Location: Jalan Pinang
  • Developer: Jakel Group
  • Status: planning

 

123. Tun Razak Exchange (TRX)

  • Overall Development: 70 acres of masterplanned financial and business district for Kuala Lumpur. A total of 25 buildings will be built offering a gross floor area of over 21 million square foot.
  • Master Developer: 1MDB Real Estate Sdn Bhd, a subsidiary of 1 Malaysia Development Bhd (1MDB)

A. Lifestyle Quarter

  • Composition: planned for one retail mall, a multi-layer central park, a connection to TRX MRT Station, one hotel and three service apartment blocks
  • Developer: Lend Lease Group
  • Status: ground work

B. Signature Tower

  • Composition: one 74-storey office
  • Developer: PT Kumpulan Mulia (Mulia Group)

C. TH Properties’ Service Apartments

  • Composition: one 40-storey service apartments (516 units)
  • Developer: TH Properties Sdn Bhd, a subsidiary of Lembaga Tabung Haji

D. Menara Affin Bank

  • Composition: one 35-storey office
  • Developer: Affin Holdings Bhd

 

 

Out of the Map Projects

 

124. Bukit Bintang City Centre

  • Development:
  • Location: Jalan Pudu and Jalan Hang Tuah
  • Developer: BBCC Development Sdn Bhd, a jv between UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund Board (EPF)
  • Status: planning

 

Eco World Development Group Bhd is expected to start construction of the RM8.7 billion Bukit Bintang City Centre (BBCC) project at the former Pudu Jail site by the first quarter of 2016.

 

Watch out for our upcoming publication.

UPCOMING PUBLICATION ::: KLCC Subsale Market Transactions and Comparisons

Leakage – A strata living nightmare Registration

Whilst the leakage may appear only in a particular parcel, the source of the leakage may lie in the parcel above or even elsewhere. The cooperation of more than one party is therefore required; without which one cannot even begin to identify the problem, let alone solve it.

Two issues must be identified when there is an inter-floor leakage. Firstly, the source of the leakage and secondly, the person or body responsible for repair or rectification. Who is supposed to identify the source of the leakage to start with?

The person or body responsible of course, you may say, but how do you know who is responsible before the cause of the problem is ascertained? A bit of a chicken and egg situation arises.

 

New Act

Will the new management Act answer to all ceiling leakages?

In February 2013 the Strata Management Act 2013 (SMA) was passed by Parliament. With that came a presumption in law, under Section 142 of the SMA, that if the leakage is on the ceiling, then such leakage is presumed to be from the parcel above unless it is proven otherwise.

So, if you have a leakage from your ceiling, go to your upstairs neighbour and tell him/her that he/she is responsible and must therefore find the source of the leakage and do the repair. What if he/she disclaims responsibility?

Simple. You just quote Section 142 of the SMA. What a magical section with a “one fits all” answer to ceiling leakages! I thought so too when I first read Section 142, but I was not completely right for the law does not place the entire responsibility squarely on the upstairs parcel owner.

It was to be another couple of years before the SMA was implemented in June 2015 but the good news is that with that came also the implementation of the Strata Management (Maintenance & Management) Regulations 2015 (SMR).

Many thanks to those (including HBA volunteers) who worked tirelessly on drafting and fine tuning the provisions of the SMR, we now have some definite answers on what to do if you have a leakage from your ceiling.

 

Who is responsible?

In dealing with inter-floor leakage one must not just look at Section 142 of the SMA but also Part XV of the SMR.

Indeed it is Part XV of the SMR which tells you what to do if you discover dampness, moisture or water penetration from your ceiling or if you were to go home one day only to find that it is raining in your apartment.

Go to the developer if you are still covered by the defects liability provisions.

If the leakage is still covered by the provisions of your sale and purchase agreement (SPA), follow the provisions of your SPA.

For homebuyers, these are typically cases where the leakage or defect occurs during the defects liability period, and which the housing developers are required to rectify, as provided in the statutory SPA.

 

JMB/MC/Management first in the line of responsibility – regulation 56

If the leakage is not one which is covered by the SPA, then notice may be served by the owner of the affected parcel on the developer or the joint management body (“JMB”) or the management corporation (“MC”) or the subsidiary management corporation (“sub-MC”), as the case may be.

This is provided for in regulation 56(1) of the SMR. What regulation 56 essentially means is that you serve notice on the body responsible for the maintenance and management of the common property, which for convenience I shall refer to as “the management”.

So, now you see, the party first in the line of responsibility is not your upstairs neighbour but the management.

Once notice is received, the management must, within seven days, carry out an inspection to determine the cause of the leakage and the party responsible for rectification (regulation 57).

Thereafter, the management must issue a “Certificate of Inspection” stating the cause of the inter-floor leakage as well as the party responsible for rectification (regulation 59). A standard form certificate for this purpose can be found in Form 28 under the Second Schedule of the SMR.

So, what is the purpose of Section 142, you may ask? Section 142 merely creates a presumption that the defect lies in the parcel above.

In practical terms, this does nothing towards resolving any inter-floor leakage issues other than perhaps as a starting point for inspection.

After all, one cannot possibly rectify a defect which causes the leakage until and unless the actual defect is identified.

The legal implication of Section 142, however, is perhaps best left to those much more qualified than I but I do wonder if this statutory presumption alone can be a valid ground for holding the upstairs parcel owner responsible and if so under what circumstances in light of the provisions of the SMR.

 

Determining factor(s)

Under regulation 58 of the SMR, the management must take into account not just the aforesaid presumption but also the following matters which to my mind are far more relevant once the defect is identified:-

(1) that any defect in something which serves more than one parcel is a common property defect; and

(2) that any defect in something which serves only one parcel is a defect of that particular parcel even though that something is situated in common property or in void space.

In other words, the determining factor is not the location of that defective something but which parcels that something serves.

If it serves just one parcel, that particular parcel owner is primarily responsible and must rectify the defect failing which the management shall carry out the rectification works and charge the expenses to that particular parcel owner.

I say primarily because whilst regulation 61 of the SMR imposes the obligation on a specific parcel owner such obligation is expressly stated to be without prejudice to that parcel owner seeking indemnity from someone else.

That of course begs the question of who can be held liable for such indemnity; a question which is beyond the scope of this article but I certainly will not rule out any parcel owner, including the affected parcel owner, who contributes towards the defect or any delay in the rectification of the defect.

The decision of the management is, as expected, not final. Anyone not satisfied with a decision made against him/her may refer to the Commissioner Of Buildings (COB) who shall ascertain the cause of the leakage and the party responsible in accordance with regulation 64(1) and (2) and the decision of the COB shall be complied with by all parties concerned.

 

Grant access for inspection or risk prosecution

It goes without saying: that neither inspection nor rectification works can be effectively carried out without access to all relevant parcels and common property. Hence, the imposition of a statutory obligation on all relevant parties to give access as provided by regulation 63(1) of the SMR comes as no surprise at all.

Whoever fails to give access to the party carrying out the inspection commits an offence! And the punishment is severe too; a fine of up to RM50,000 or imprisonment of up to three years or both, under regulation 63(2).

Given that the lack of cooperation on the part of some parcel owners/occupiers has remained one of the main causes of delay in resolving inter-floor leakage problems, these provisions are definitely a step in the right direction.

It does puzzle me, however, that whilst a failure to give access for inspection tantamount to an offence, the same does not seem to apply to a failure to give access for rectification.

Some of you cynics out there may be tempted to brush this aside as something unlikely to be enforced by the authorities but do you want to take that chance? Do you really want to risk prosecution over something as simple as giving access for inspection and/or rectification?

Beside, now that the Strata Management Tribunal has been set up you may be slapped with an order much sooner than you think.

 

– The Star, 22 August 2015, article written by Mr Chang Kim Loong, the honorary secretary-general of the National House Buyers Association

SkyWorld shows off RM12 million Property Gallery in Appreciation Night for partners Registration

“We are proud to host this party for our business partners and employees at one of Malaysia’s largest showroom gallery, in dedication of their support that has contributed to the success of SkyWorld in these early years.” says Managing Director, Datuk Ng Thien Phing.

 

SkyWorld’s Property Gallery, SkyArena at Setapak is one of the largest Property Gallery in Malaysia.

 

“We wanted to thank SkyWorld’s business partners and employees for the success we have enjoyed with Ascenda Residences @ SkyArena, where Phase One was fully sold out within nine months based on word of mouth alone,” Ng says.

With that success, SkyWorld is set for greater heights with Phase Two, namely Bennington Residences @ SkyArena. This new development will feature 580 units of condominium residences built amid lush garden spaces and modern conveniences.

A mega mixed-development project covering 28 acres, SkyArena, aims to nurture a vertical community built around health and wellness and designed around a 9.4-acre multi-facility sports complex.

With full completion slated for 2021, this mega-development will feature SoHo residences, a retail mall and commercial space, as well as a boutique hotel.

SkyWorld aims to be more than just a property developer, according to Ng. “We aim to be the best urban sky living developer to elevate living experiences and community lifestyle to greater heights,” he said after the Appreciation Night.

The highlight of the evening was models gracing the runway, showcasing an array of outfits embodying the essence and uniqueness of SkyWorld’s projects.

 

The evening’s fashion show grand finale – models and celebrities posing with SkyWorld’s top management and Managing Director Datuk Ng Thien Phing. Third from left – local celebrity Joanne Yew, SkyWorld’s management Lee Chee Seng, Khin Lee, Alan Ho, SK Lam, SkyWorld’s Managing Director Datuk Ng Thien Phing, Tan Sri Wong, Mr. Kok, Dr. Kor, local celebrities Wilson Tan and Jennifer Foh.

 

SkyWorld owns prime landbanks in Setapak, Jalan Sentul Pasar, Bandar Baru Sentul, Taman Danau Desa, Bukit Jalil and Setiawangsa with potential gross development value totalling more than RM5 billion.

SkyWorld’s Appreciation Night was hosted by celebrity Nadia Heng, former Miss Malaysia 2010, and emcee CK Lee with celebrities Cathryn Lee, Joanne Yew and Wilson Tan attending as guests.

For more information, please visit www.skyworld.my.

 

SkyWorld’s Managing Director, Datuk Ng Thien Phing and top management welcoming celebrity guests. From left – emcee Nadia Heng, a former Miss World Malaysia, local celebrity Joanne Yew, SkyWorld’s management Alan Ho, Managing Director Datuk Ng Thien Phing, SkyWorld’s management Lee Chee Seng, local celebrities Wilson Tan and Jennifer Foh.

 

Landscaping area in SkyWorld’s Property Gallery, SkyArena at Setapak.

 

PTLM Team on the runway with SkyWorld’s General Manager of Sales and Marketing Ms Khin Lee.

 

Canada’s pension fund invests in Malaysia’s Pavilion real estate project Registration

This is CPPIB’s first direct real estate investment in the Southeast Asia region.

Toronto-based CPPIB said along with the Pavilion Group it has formed a venture to invest in Pavilion Damansara Heights, a multi-billion “blue-chip” mixed development project in suburban Kuala Lumpur.

The project is a freehold development that integrates corporate towers, luxury residences and a retail galleria located less than 10km (6.2 miles) from Malaysia’s iconic Petronas Twin Towers.

“This joint venture fits well with our investment strategy as it provides us with a great opportunity to work with a smart partner in a high-quality real estate asset that will provide attractive risk-adjusted returns over the long term,” Jimmy Phua, CPPIB’s head of real estate investments in Asia, said in a statement.

By convention, the CPPIB invests funds that are not needed by the Canada Pension Plan to pay current benefits. As of the end of June this year, the fund’s net assets totalled C$268.6 billion.

PTLM Research earlier reported that a Pavilion Group company Impian Ekspresi Sdn Bhd will undertake the urban redevelopment of Pusat Bandar Damansara in Damansara Heights, which is often regarded as Kuala Lumpur’s most upmarket suburb.

The entire project will cover a total area of 15.84 acres, which will be divided over two development phases.

Its proposed retail galleria here will be operated by the Pavilion Group. The mall is expected to be the biggest in the vicinity, serving the affluent populace of Damansara Heights, Bangsar, Sri Hartamas and Seputeh.

According to sources close to the project, at least nine of the office blocks in the first phase have been sold on enbloc basis to corporations nearing a benchmark price of RM1,500 psf. These blocks come with naming rights for the respective owners.

At this price, rental for the office space will have to be RM8 psf in order to generate an annual yield of 6%. This rental rate is only seen in Kuala Lumpur city centre at the moment, not in a suburban location like Damansara Heights.

With such extraordinary interest received for the offices amid the fear of an oversupply of office space, it was believed that the service apartments could be previewed by the first half of next year at a price from RM1,500 psf onwards.

If true, this price would be significantly higher than the going rate for high-end apartments in Bangsar which is between RM1,200 to RM1,400 psf.

The world’s finest hotel brand Jumeirah signs up Kuala Lumpur hotel and residences Registration

The agreements were signed by Mr. Dato’ Othman Hj. Omar, CEO of Oxley Holdings (Malaysia) Sdn Bhd (Oxley Malaysia), and Mr. Gerald Lawless, President and Group CEO, Jumeirah Group on Tuesday last week.

This comes after both parties began negotiations after the signing of a letter of understanding (LOU) in December last year. Jumeirah Group was to provide advisory technical assistance to Oxley Malaysia in connection with planning, architectural, interior design, landscape and the brand design guidelines.

The 6-star Jumeirah Kuala Lumpur Hotel and Jumeirah Living Kuala Lumpur Residence will be set within one of the three towers which make up the landmark mixed development called Oxley Towers, situated on Jalan Ampang.

The development is aimed at bringing international prestige to Kuala Lumpur and is set to transform the skyline of the city. It is also expected to host Malaysia’s first Sofitel So hotel and residences, which its management agreements will be formalised soon.

The developer, Oxley Rising Sdn Bhd, is a subsidiary of Oxley Malaysia, which in turn is a wholly-owned subsidiary of Singapore-listed property developer Oxley Holdings Ltd.

The three towers of 79, 49 and 28 storeys, interconnected via a 8-level retail podium, will be located next to the Kuala Lumpur City Centre (KLCC) precinct within easy reach of the Petronas Twin Towers, Maxis Tower and the Kuala Lumpur Convention Centre.

It will be the city’s first triple towers. Construction of the development, which will cover an area of more than 12,500 square metres, or 135,000 square feet, is expected to start in 2016 and complete in 2021.

The Jumeirah brands will be hosted within the 49-storey tower. Jumeirah Living Kuala Lumpur Residence will be located on the lower floors of the tower while Jumeirah Kuala Lumpur Hotel will occupy the upper floors offering spectacular views across the city.

The hotel will feature 190 rooms and suites, an all-day dining restaurant, a fine dining restaurant, a lounge and a bar, as well as a finely appointed Club Executive and a Talise wellness facility comprising a spa, fitness club and swimming pool.

Mr. Ching Chiat Kwong, Chairman and CEO of Oxley, said: “We are pleased to announce we have taken a step forward with the milestone agreement with Jumeirah Group to build a hotel and residences in Kuala Lumpur.”

“This partnership with Jumeirah Group further enlarges and reiterates our presence in the Malaysian market. We are excited, delighted and proud to be Jumeirah’s first business partner in Malaysia to introduce the Jumeirah experience, an epitome of luxury, to guests staying in our hotel.”

“Jumeirah Group has created a portfolio of world-class hotels with excellent operational performance and with this hotel being the first Jumeirah hotel in Malaysia, we are confident of this holistic journey.”

“Kuala Lumpur is both a travel and business destination to many. We believe our hotel and residences which lies in the heart of a bustling city with close proximity to the many landmarks of Kuala Lumpur is a gem to travellers.”

“We are looking forward to begin this successful relationship to deliver a truly luxurious experience with Jumeirah,” added CEO of Oxley Malaysia, Mr. Dato’ Othman Hj. Omar.

Speaking at the signing of the agreements, Mr. Gerald Lawless, President and Group CEO, Jumeirah Group, said: “Our agreement with Oxley Malaysia paves the way for Jumeirah’s entry into the important Malaysian market.”

“This highly prestigious development further reinforces the reputation of the Jumeirah brand and will greatly appeal to our loyal customers who stay with Jumeirah in our properties across Europe, the Middle East and Asia. We are proud to have been chosen as a partner and look forward to the launch of a new expression of outstanding luxury in the Malaysian capital.”

Jumeirah Group’s entry into the Malaysian market is a significant milestone for the award-winning company as it continues its ambitious expansion plans across the globe.

The Group currently operates 23 hotels in Europe, the Middle East and Asia and has a further 25 Jumeirah and VENU properties in the pipeline. Its flagship property is the iconic Burj Al Arab Jumeirah, the symbol of modern Dubai.

Jumeirah Group operates a full-service office from Singapore focused on development and sales, offering expert regional advice and support.

In addition to Jumeirah Himalayas Hotel in Shanghai, China which opened in 2011, there are now 11 projects in the Asia-Pacific pipeline being developed in India (Mumbai), Indonesia (Bali) and China (Guangzhou, Hangzhou, Qiandaohu, Nanjing, Wuhan, Macau, Haikou and Sanya).

The Group is in negotiations for further properties across the region including in Thailand, Cambodia and Singapore.

In November 2013, Oxley Holdings Ltd bought this 3.42-acre freehold tract of land on Jalan Ampang from vendor Loke Wan Yat Realty Sdn Bhd for a record-breaking price at that time of RM3,325 psf, or RM446.7 million.

The land had six bungalows and was occupied by a Nasi Kandar Restaurant Pelita outlet and Restaurant Chef Choi. As of today, the project has been approved by Kuala Lumpur City Hall (DBKL) for a plot ratio of 14.

Oxley, in typical Singaporean developer style, had earlier held a design competition among six architectural firms from Malaysia and Singapore. Malaysia’s Veritas Architects was then selected to be the lead designer for the development.

In the next several years, the Kuala Lumpur market is expected to welcome some of the world’s best known hospitality brands and branded residences. Some of the exciting brands as listed as follows.

  • Four Seasons Hotel and Private Residences;
  • Fairmont Hotel and Residences;
  • Kempinski Hotel and Residences;
  • Park Hyatt Kuala Lumpur;
  • W Hotel Kuala Lumpur;
  • Hilton Kuala Lumpur City Centre and Residences;
  • Banyan Tree Signatures Hotel & Spa and Banyan Tree Residences;
  • The RuMa Hotel and Residences;
  • HYATT house Kuala Lumpur at Arcoris Mont’Kiara;
  • Holiday Inn Express Kuala Lumpur;
  • Mercure Kuala Lumpur Shaw Parade;
  • Artés by Autograph Collection at Empire City;
  • The St. Regis Kuala Lumpur Hotel and Residences (Completing Soon);
  • The Ritz-Carlton Residences Kuala Lumpur (Completing Soon);
  • The Ritz-Carlton Hotel and Residences at Empire City;
  • Le Méridien Hotel Putrajaya;
  • Marriott Empire City Hotel;
  • Sheraton Petaling Jaya Hotel; and
  • Mövenpick City Resort & Spa at the Kuala Lumpur International Airport.

What are the layers of personal finance success? Registration

An onion? Yep.

It’s like an onion in that it’s made up of a bunch of layers that aren’t really very transparent. You know what’s underneath them on some level, but it takes time to really understand each level and incorporate it into your life.

Here, I’m going to summarize some of the layers of the onion so that you can get a good idea of what I’m talking about.

 

The First Layer: Debt Is Bad, Savings Is Good

This is the level on which many people who are really struggling with their money see their finances. They understand that debt is bad and that saving money is good, but when it comes to the things they want in their life, this seems secondary.

Isn’t it much better to just spend that money on stuff that you want? A big house? A lot of stuff to fill it? A shiny car in the driveway?

The basic ideas of personal finance – spend less than you earn, avoid debt with high interest rates, try to save some of the money you make – are actually pretty obvious. Everyone understands those ideas on some level, but they don’t put them into practice.

They don’t really see the connection between their day-to-day behavior and the mountain of debt and the lack of savings that they have.

Sure, they understand the idea, but it’s not incorporated in their life in any way. It’s like a fact that they know, not one that really matters when it comes to their behavior.

 

The Second Layer: Your Choices Create Both Debt and Savings

The next layer of realization is when people begin to realize that the things that they spend money on create both debt and savings.

The more money you spend on stuff, the less savings you’ll have and, if you spend too much, the more debt you’ll have. The less money you spend on stuff, the more savings you’ll have and the less debt you’ll have.

In other words, the little choices you make every day are the determining factor in whether you have debts or savings – and how much of each you have.

Whenever you buy anything, you reduce your potential savings. If you’re in debt, you effectively increase your debt, too, because that money isn’t going into savings or toward your debt.

This goes from the big purchases, like cars and so on, down to the tiniest purchases, like a bottle of soda at the gas station. Each one of those purchases – each one of those choices – has an impact.

Whenever you choose to spend – and whenever you choose to spend less or not to spend at all – you shape whether or not you have debt and whether you have savings.

Let’s peel back a little bit more.

 

The Third Layer: Much of the Stuff You Buy Doesn’t Create Lasting Joy

The counterargument against cutting back on non-essential purchases is that doing so removes the pleasure from life. I’m adamantly opposed to doing that. If a purchase brings genuine, lasting pleasure in your life, you shouldn’t cut it.

The catch is that the vast majority of purchases people make do not bring lasting joy. They bring a little short-term burst of pleasure, but lasting joy? It’s actually pretty rare for that to be the outcome of spending your money.

I went out for dinner last night. The dinner was good – it was pleasurable – but the pleasure of it is already fading away.

It was expensive and it didn’t create lasting joy and it won’t be long before I’ll either forget it entirely or regret the expense.

On the other hand, my most memorable meal of the last year was one where I ate with an old friend. It did create lasting joy – a meal that we still talk about that reconnected me to an old friend.

If you’re going to spend money on something that isn’t essential, why not spend it on something that has a very high chance of creating lasting joy in your life?

For me, one powerful way to do that was to eliminate my debts and have some money in the bank, because the stress that it eliminated and the small sense of security that it created did in fact bring me lasting joy, joy that lasts to this day.

Beyond that, there are a handful of things in my house that I’ve bought that have brought me lasting joy. Most of them?

Maybe I thought they would and they didn’t, but in truth most of them were purchased without even thinking about the question, and now I regret it.

That money went away from something that would bring me lasting joy (financial independence) into something that doesn’t (many of the items in my home).

Let’s peel back a little bit more.

 

The Fourth Layer: Money Can Buy Time

Most of the things that bring lasting joy in my life require the contribution of time to bring that joy. My relationship with my wife is joyful because I invested time into that relationship.

My relationship with my children is joyful because I’ve invested time in those relationships. Some of my key hobby purchases have brought me lasting joy because I’ve invested time in that hobby.

A random meal at a restaurant rarely brings lasting joy because you didn’t commit any time to it. On the other hand, a meal eaten with a friend – no matter where it is – can often bring lasting joy because you’ve built that relationship.

It doesn’t matter where you eat, because the value comes from the thing you invested time in – that friendship.

Many people feel very time-deprived and they often use their money to buy time, but the question becomes how they use that time that they save. A person might buy some convenience foods to save on meal prep time, but how do they use that time?

There are some things you can always do with that extra time to provide lasting value. You can rest. You can build a lasting relationship with someone. You can learn a new skill or some key knowledge.

The thing is money can certainly buy time, but it similarly becomes a waste if you don’t do anything valuable with that time.

Let’s peel back a little bit more.

 

The Fifth Layer: Money Can Buy Freedom

Spending money to buy time in the form of time-savers like convenience foods and time-savings services is a great way to get some spare time in the short term, but it doesn’t help with the long-term problem unless you use that extra time perfectly and build it into something lasting.

The long-term solution is, rather than using your extra money to buy time, you use it to buy freedom.

Let’s say that you were in a situation where you had enough money saved and invested so that the income from those investments could replace your salary. What would you do with your time in that situation?

That’s not “time saving.” That’s freedom, and money can buy it.

We’re kept away from that kind of freedom by the need to earn money, and whenever we use money in a way that doesn’t either create lasting joy or pave our way to this kind of freedom, it’s probably not the best use of that money.

At that point, you have about as much freedom of choice with how to use your time and energy as you can possibly have. You choose what to invest your time and effort into, and if you choose to invest it into things that provide lasting personal joy, you’re going to be building a joyous and personally rewarding life.

 

Is There a Core?

Once you get beyond that layer, you start to quickly get into issues that involve what you personally value. Perhaps you value your children. Maybe you value a particular hobby, or maybe you really care about a certain social cause.

At that point, you start tying your financial choices directly to those things that you care most deeply about and you begin to see the connections between your choices in each area.

Gradually, that begins to spread to all of your actions. You have only so much time and so much energy. How can you use them most effectively to not only keep yourself alive, but actually have an impact on the things you truly care the most about?

At the outer layers, money appears to be at the center of all things, but after a while you begin to see it for what it is.

It’s a medium – a way of exchanging our time and our energy for things we care about. Almost every personal finance problem that we run into comes from making poor trades.

The true core of personal finance, from what I can tell, has little to do with money at all.

Spend your time and energy on things you care about. Sometimes, that means accumulating resources so that you can feed, clothe, and house yourself and the people you love the most. Sometimes, it means using your time and energy on the things that really matter to you, whatever they might be.

The best life you can have is all about spending your time and energy on the things that make your life as good as possible, both now and in the future. As far as I can tell, if there’s a core, it’s that, and getting there involves figuring out how to make your trading of time and energy for those other things as efficient and smart as you possibly can.

Good luck on your journey to the center.

 

An article written by Trent Hamm, The Simple Dollar, 31 July 2015

Uniqlo to open 7 new stores before end of the year, venture into Sabah and Sarawak Registration

In a statement today, Uniqlo said these stores will be located in the Klang Valley (The Curve), Perak (AEON Mall Ipoh Klebang), Kedah (Aman Sentral), Sabah (Imago KK Times Square and Suria Sabah), and Sarawak (The Spring Mall and Vivacity Megamall).

“The new store openings mark Uniqlo Malaysia’s first entry into East Malaysia, as it looks to provide more Malaysians with high quality, comfortable and stylish clothing at affordable prices,” the casual wear retailer said.

Uniqlo will also debut in Perak and Kedah states respectively. It currently has 25 stores located within the Klang Valley, Johor, Malacca, Pahang and Penang.

“We are excited with the upcoming new store openings, as it means more Malaysians will be able to purchase and experience our product offerings,” Uniqlo Malaysia’s co-chief operating officer Jocelyn Ng said.

“We remain committed to provide the best shopping experience and make our innovative products, such as AIRism and Heattech, more accessible to the communities in these locations,” she added.

Uniqlo Malaysia currently has a network of 25 stores in Klang Valley, Johor, Malacca, Pahang and Penang.

Uniqlo is a brand of Fast Retailing Co., Ltd, a leading global Japanese retail holding company that designs, manufactures and sells clothing under seven main brands. It achieved global sales of about 1.38 trillion yen (RM43.5bil) for the fiscal year ended Aug 31, 2014.

Uniqlo said last Monday that it was expanding its collaboration with Walt Disney Co. to offer a wider range of products and that it would open a flagship store at the Florida Disney World’s shopping complex next spring.

The collaboration will add Disney, Marvel, Star Wars and Pixar images to Uniqlo’s LifeWear clothing as well as pop-up displays and new products based on selected popular blockbuster movies.

Today the company has more than 1,500 stores in 16 markets worldwide, including Japan.

 

*** *** ***

As of 8 August 2015

Uniqlo’s 25 Stores Across Malaysia

KLANG VALLEY

  • Uniqlo Alamanda Shopping Centre
  • Uniqlo Berjaya Times Square
  • Uniqlo Cheras Sentral
  • Uniqlo Empire Shopping Gallery
  • Uniqlo Fahrenheit 88
  • Uniqlo Gateway@KLIA2
  • Uniqlo IOI City Mall
  • Uniqlo KL Sogo
  • Uniqlo Main Place Mall
  • Uniqlo Mid Valley Megamall
  • Uniqlo Nu Sentral
  • Uniqlo One Utama
  • Uniqlo Paradigm Mall
  • Uniqlo Setia City Mall
  • Uniqlo Sunway Pyramid
  • Uniqlo Sunway Putra Mall
  • Uniqlo Suria KLCC
  • Uniqlo The Mines
  • Uniqlo Tropicana City Mall

 

PENANG

  • Uniqlo AEON Mall Bukit Mertajam
  • Uniqlo Gurney Plaza
  • Uniqlo Queensbay Mall

 

MALACCA

  • Uniqlo Dataran Pahlawan Melaka Megamall

 

PAHANG

  • Uniqlo East Coast Mall

 

JOHOR

  • Uniqlo Johor Bahru City Square

 

COMING SOON

  • Uniqlo The Curve
  • Uniqlo AEON Mall Ipoh Klebang
  • Uniqlo Aman Central
  • Uniqlo Imago KK Times Square
  • Uniqlo Suria Sabah
  • Uniqlo The Spring Mall
  • Uniqlo Vivacity Megamall

 

POTENTIAL FUTURE LOCATIONS (UNCONFIRMED)

  • AEON Mall D’Kayangan Shah Alam
  • AEON Mall Kota Bharu
  • Empire City Shopping Centre
  • Selayang Star City
  • Sunway Velocity
  • Melawati Mall