Developed by Mah Sing Group Bhd, the OLO serviced residence comprises 197 units with built-up sizes from 782 sq ft. The minimum selling price starts from RM603,000.

“Proximity to the public transportation system, namely Kampung Selamat Station in Mass Rapid Transit (MRT) Line 1, which will be operational on 16 December, is the main attraction for buyers,” Mah Sing chief executive officer Ho Hon Sang said in a press statement today.

The 51km MRT Line 1 begins from Sungai Buloh and runs through the Klang Valley with stops in areas such as Kota Damansara, Mutiara Damansara, Bandar Utama, Damansara and Kuala Lumpur city centre before ending in Kajang.

Ho said a covered walkway will be built to provide direct access to the MRT station from the project and shorten the walking time to the station. The construction of the walkway is expected to be completed by June 2017, while the completion of the entire development is set for 2018.

The 6.55 acre D’sara Sentral is an integrated development with a gross development value (GDV) of RM911 million. It features retail shops, one tower Small-offices Versatile-offices or SoVos and four towers of serviced residences.

D’sara Sentral will be the catalyst for growth in the Sungai Buloh area as the integrated development could create more business activities and job opportunities while bringing greater vibrancy to the area, said Ho.

Currently, the retail shops are 83% completed while the SoVos and the first two towers (SA1 and SA2) of serviced residences are 40% completed.

The final two towers of serviced residences (SB1 and OLO) are now 30% completed with their structure framing reaching level nine and level eight, respectively.

News Source: The Edge Property, 29 November 2016

The Group successfully tendered for the prime land at RM7.77 billion (SGD 2.57 billion) via Wealthy Link Pte Ltd, a wholly-owned subsidiary of IOIPG.

The bid is the highest in absolute dollar quantum as well as psf ppr for a Government Land Sale (GLS) site in Singapore. The tender drew seven (7) bids which included international property players such as Temasek-owned Mapletree Investments, Hongkong Land Cheung Kong and CapitaLand.

This latest addition to its landbank is an opportunity for the Group to venture into prime office development located in the CBD of Singapore.

It is envisaged to further add on to its existing commercial development of South Beach in Singapore, which is an iconic mixed-use development comprising office, hotel, residential and retail components in downtown Singapore.

Commenting on this successful tender, its Group Executive Chairman, Tan Sri Dato’ Lee Shin Cheng expressed confidence in the Group’s position to leverage on the strong demand for prime office space in Singapore.

“The site is ideally located within the Marina Bay area – Singapore’s premier financial and business district. The future development will be linked directly to the surrounding developments at One Raffles Quay, Marina Bay Financial Centre, as well as the office clusters at Raffles Place and Shenton Way via an extensive network of at-grade, underground and overhead pedestrian links.

 

“It is also seamlessly connected to the adjacent Downtown Mass Rapid Transit (‘MRT’) Station, nearby Raffles Place MRT Station and the future Shenton Way MRT Station. The development will be attractive to major financial institutions and multinational corporations. Based on the Group’s experience in developing South Beach, we have strong confidence that we can offer another prime and iconic development at Central Boulevard,” he added.

Current property developments in Singapore undertaken by IOIPG comprising Seascape and Cape Royale at Sentosa Cove, Cityscape at Farrer Park, The Trilinq at Jalan Lempeng are performing well.

Its South Beach investment property is enjoying almost full occupancy with renowned multinational tenants including Facebook, Rabobank, Lego amongst other notable international brands. The Group is optimistic that the proposed development of the land will contribute positively to its future revenue stream.

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About IOI Properties Group Berhad

Spanning more than three decades in the property development industry, IOI Properties Group Berhad (“IOIPG”) is one of the leading public-listed property developer in Malaysia. Over the years, it has successfully developed sustainable townships and commercial enclaves in soughtafter regions of Klang Valley such as IOI Resort City, Bandar Puteri Puchong, 16 Sierra and Bandar Puteri Bangi; and established a strong presence in Penang (Northern region) as well as Johor (Southern region) of Malaysia. In the international scene, IOIPG has achieved notable success in Singapore and the People’s Republic of China.

Apart from being an award-winning top property developer, IOIPG is also known for being one of the few integrated property developers that builds and manages its investment properties such as hotels, golf courses, shopping malls and office buildings.

To date, IOIPG has five hotels and two golf courses under its wings namely Putrajaya Marriott Hotel, Palm Garden Hotel, Four Points by Sheraton Puchong, JW Marriott Hotel Singapore South Beach and its latest addition to its hotel collection, the Le Meridien Putrajaya; as well as Palm Garden Golf Club in IOI Resort City and Palm Villa Golf and Country Resort in Johor.

Meanwhile, the Group’s investment assets include an award-winning IOI City Mall – the largest shopping mall in Southern Klang Valley, IOI Mall Puchong and IOI Mall Kulai; retail complexes and purpose-built office buildings.

For more information, please log on to www.ioiproperties.com.my.

Deputy Finance Minister Datuk Lee Chee Leong said the volume of transactions in the residential, commercial, industrial and agriculture property segments declined 12% to 240,000 compared with the corresponding period last year.

He said in terms of value, the transactions decreased 16% to RM95.37 billion during the period under review from a year ago.

“Overall, the housing market has indeed softened since the Government introduced a slew of cooling measures to curb speculations and rein in the rapid rise in house prices,” he said when opening the International Real Estate Federation (FIABCI) Malaysia’s Premium Property Showcase 2016 in Petaling Jaya on Friday.

On residential property transactions, he said the National Property Information Centre (NAPIC) recorded nearly 152,000 residential transactions worth RM48.36 billion in the first 9 months of this year.

He said the volume and value of transactions declined 14% and 11%, respectively.

The drop cuts across areas such as Kuala Lumpur, Selangor, Johor and Penang, which shrank between 14% and 21%, he added.

On the price range, he said affordable house prices remained below RM500,000 and the sales accounted for about 80% of the total residential transactions.

“With housing loans for the civil to be increased to RM750,000, (unveiled in Budget 2017), I believe this would benefit both civil servants and housing developers,” he added.

The 5-day property showcase, which began on Wednesday, exhibits 53 property projects in the Klang Valley, Seremban, Penang, Genting and Johor.

Organised by the FIABCI Asia Pacific Regional Secretariat, it also features talks on property auctions, updates and development.

News Source: Bernama