• OUR STORY
• OUR TEAM
• OUR VALUES
• OUR WORK
• OUR MILESTONE

Company Introduction

PropertyTalk & Lifestyle Malaysia, or popularly referred as “PTLM”, is an intellectual property owned by Kuala Lumpur-based PTLM Ventures Sdn. Bhd. (1088967-W). The company was incorporated in April 2014.

PTLM began as a social media-cum-networking platform for like-minded property buyers and enthusiasts who mainly discuss Malaysian real estate investments, financial management, socio-economic issues, entrepreneurships and start-up ideas, civic infrastructure, lifestyle trends and shopping habits. As an open platform, a diverse range of ideas, opinions and personal experiences of fellow members were shared and communicated upon on our Facebook Group.

Until today, PTLM is popularly known for its snippets of the latest property development and lifestyle news which were reported in the fastest manner and unbiasedly. PTLM now strives on innovation and speed to compile, inform, educate and publish relevant content for your convenience and in different perspectives.

Tagline Rationale

Beyond Property, Enriching Lifestyle.

• In reality, we are more than just property nerds. Hence, we want you to understand what lies within and beyond your property, and of course, your investment.
• We want people to know about property investment and become their guide to make successful investments with an intention to build long term wealth.

 

The People

PTLM is founded by a team of visionaries who strive to make property investment and its related education as simple as possible.

1. 1. Nick Tan

   2. Patrick Chay

Mouse over image to view names

Our Vision

Our vision is to be Malaysia’s premier outreach portal and education hub pertaining to property and lifestyle.

Our Values

At PTLM, everything we do is with integrity, commitment and innovation as to facilitate information dissemination so that people could make well-informed investment decisions.

INTEGRITY

We ensure our work adheres to high standards of ethics and honesty.

COMMITMENT

We are committed to work towards achieving your trust and respect.

INNOVATION

We believe in technology capability & innovative ideas to achieve your future goals.

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  Property Portal

  Our digital hub is dedicated to compile, inform, educate and publish information and news content to consumers of latest happenings in real estate, investments and lifestyle excitements.

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  Advertising and Increasing Your Online Presence

  Enhance property and lifestyle-related products’ online presence via our webportal listings and advertisement spaces. It’s an alternative platform to conventional media. Best of all we are able to gauge data analytics, and at the same time providing cost effective and time efficient cyberspace channels to all clients regardless of spending budgets.

• 
  

  E-Marketing, Social Media and Ad-Hoc Campaigns

  Utilise various online channels such as social media and forums for disseminating product information to targeted audience, either on duration or ad-hoc basis. Other activities include newsletter management, hype-up content, brand publicity and running insightful surveys such as our people’s choice property awards.

• 
  

  Marketing Solutions

  Maximise value via product registration, soft launch invitation, private preview, Gen-Y or first homebuyer segmentation, roundtable discussion, speaking engagement and other marketing solutions under one roof. As always, we build mutual relationship between business stakeholders and the members of the community, and formulate strategies to deliver values to all.

• 
  

  Research and Consultancy

  Competition is keen out there. Market research, area analysis and scorecards enable us to review your product unbiasedly. Our ‘early-bird’ and extensive market knowledge and exposure produce unrivalled data for our clients.

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  Property-On-The-Go

  A PTLM innovation created with consumer convenience in mind. Coming soon.

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  Technology Solutions

  Elevate your decision making process to an all new level of sophistication. Coming soon.

• 
  

  CrowdFunding

  A specialized platform connecting exclusive investment opportunities to savvy investors. Coming soon.

• 1

Incorporation as A Company

Since our recent incorporation, we have more than 36,000 followers on our social media networks. Throughout this year, we have spoken in various Malaysian real estate conventions and developer events.

In the coming years, we will continue to strive to become the premier property and lifestyle education and outreach portal in Malaysia and beyond.

Speaking Events

• 25 January 2014

  SkyBridge International Property Investment Conference

  As a Guest Speaker

• 20 February 2014

  Malaysia Property Inc. Corporate Outlook 2014

  As a Guest Speaker

• 15 March 2014

  Property Insight Malaysia Property Fair 2014

  As a Guest Speaker

• 19 April 2014

  IOI Properties Showcase 2014

  As a Guest Speaker

• 28 June 2014

  PTLM Coffee & Property Session

  A casual event organised for PTLM members

• 14 September 2014

  The Klang Valley Mid Year Review 2014

  PTLM Presentation at SkyWorld Gallery

• 26 September 2014

  Crest Builder Property Investment Talk

  PTLM Presentation at CB Land Sales Gallery

• 6 December 2014

  PTLM “RUMAWIP” sharing session

  A casual event organised for PTLM members

• 26 April 2015

  The Impact of Connectivity from MRT 1 and 2

  PTLM Presentation at Tropicana Gardens Kota Damansara

• 14 June 2015

  An Introduction to Bukit Jalil City

  A casual event organised for PTLM members

Property Flash News

PTLM takes pride for being the fastest online media to report and inform our members about up-to-date news, research data, on-the-ground happenings, industry captains’ opinions and first-hand development information. Our signature “Flash News” are published daily, free-for-all on our social media platforms, namely on our Facebook Group and Facebook Page.

Our casual reporting style is intended to deliver useful, precise and fast information to Internet users. Flash News provide informative content on good investment deals, urban developments, property new launches, property transactions, corporate activities, infrastructure planning, policy changes, retail leasing, lifestyle outlet openings, and many more.

We believe in providing an equal platform for small-, medium- and big-sized development companies to introduce their products and concepts. Over the years, we have performed an extensive coverage reporting unbiasedly and factually on property developments by more than 190 property developers in the country.

 

• Flash News Postings

  Our daily social media scheduled postings are categorised as such:

  • Flash News
  • Sponsored News: property developer’s paid postings
  • Weekender: topics for the weekend read
  • Iskandar News: topics concerning Iskandar Malaysia
  • Cakap-Cakaplah: hearsays, opinionated query and open-ended discussions
  • Lifestyle News: the “in-thing” that might be of interest to you 

• Past People’s Choice Online Awards

  Patchay.Com Property & Lifestyle of The Year Awards 2012 

  Winner: Arnica Residence, Tropicana Gardens Kota Damansara 

  Patchay.Com Property & Lifestyle of The Year Awards 2011 

  Winner: The Capers, Sentul East  

  Patchay.Com Property & Lifestyle of The Year Awards 2010 

  Winner: The Treez Jalil Residence, Bukit Jalil

• List of Developers Under Flash News Coverage

  We have published stories involving the following property developers.

  • ABL Property
  • Adenland
  • Agile Property Holdings Ltd
  • Akisama Group
  • Amber Homes
  • Ancubic Holdings
  • Andaman Group
  • Asia Quest
  • Asian Pac Holdings
  • BCB Berhad
  • Bellworth Developments
  • Beneton Properties
  • Berjaya Properties
  • Beverly Group
  • BHL Group
  • Bina Puri Properties
  • Binastra Land
  • BRDB Developments
  • Brem Holdings Berhad
  • Briswood Home
  • Brunsfield International Group
  • BSG Property/Katana Developments
  • Bukit Kiara Properties
  • Capital Trend Asia
  • CB Land
  • Cheong Hin Holdings
  • Cheras Hong Soon Development
  • CMY Capital
  • Conlay Land
  • Country Garden Malaysia
  • Country Heights
  • CPI Land
  • CRSC Property
  • Danau Lumayan Sdn Bhd
  • Dergahayu Sdn Bhd
  • Desaria Property
  • DK-MY Properties
  • Eastern & Oriental
  • EBIC Group
  • EcoWorld
  • EcoFirst Consolidated Bhd
  • Ekovest Land
  • EMKAY Group
  • Encorp Berhad
  • Engtex Properties
  • EUPE Corporation
  • Exsim Group
  • F3 Capital
  • Faber Development
  • Fiamma Land
  • First Nationwide Group and Bandar Utama City Corp.
  • Fitters Diversified
  • Gabungan AQRS
  • Gadang Land
  • Gamuda Land
  • Global Oriental Berhad
  • Glomac Berhad
  • Grand Global
  • GuocoLand Malaysia
  • Hap Seng Land
  • Hatten Group
  • Hillcrest Gardens Sdn Bhd
  • Ho Hup Group
  • HSB Development
  • Hua Yang Berhad
  • I&P Group
  • i-Berhad
  • IJM Land
  • Ikhasas Group (Shaftsbury Capital)
  • Impiana Land & Development
  • Instant Bonus Development
  • IOI Properties
  • IRDK Land
  • Ireka Corporation
  • Iskandar Waterfront Holdings
  • Island Circle Development
  • J&C Homes
  • Jakel Development
  • Jaya Megah Building & Engineering
  • JL99 Holdings
  • Juta Asia Corporation
  • KEB Group
  • KEN Holdings Berhad
  • Kerjaya Prospek
  • Keystone Developments
  • Kimlun Corporation
  • KIP Group
  • KL Metro Group
  • KLK Land
  • Knox Group
  • KSK Land
  • KSL Holdings
  • Kueen Lai Group
  • Land & General Berhad
  • LBS Bina
  • Leadmont Group
  • Loh & Loh Corporation
  • Low Keng Huat Group (General Corp Berhad / Setapak Heights Development)
  • Low Yat Group
  • M101 Holdings
  • Macly Equity Sdn Bhd
  • Mah Sing Group
  • Malaysia Land Properties (Mayland)
  • Malton Berhad
  • Mammoth Empire
  • Marimo Land Malaysia
  • Masteron
  • Matrix Concepts
  • Maxim Holdings
  • Maxims Circle Development (Sinerjuta / Aset Kayamas / Faber Vista / Era Ecoland)
  • MBM Land
  • MCT Berhad
  • Mediaraya Sdn Bhd
  • Mitrajaya Homes
  • Mitraland Group
  • MK Land
  • MKH Berhad
  • Monoland Group
  • MRCB Land
  • Mutiara Johan Group
  • Mutiara Rini (Boustead Properties)
  • Nadayu Properties
  • Naza TTDI
  • NCT Group
  • Newfields Land
  • Nusmetro
  • OCR Property
  • Orando Holdings
  • OSK Property
  • Paramount Property
  • Pavilion Group
  • Perdana ParkCity
  • Perfect Eagle Development
  • Peter’s Holdings
  • PJD Group
  • Platinum Victory
  • PPB Hartabina
  • PRG Holdings
  • Prinsiptek Corporation
  • Protasco Development
  • Putrajaya Holdings
  • Quill Group
  • R&F Properties Malaysia
  • Rivertree Group
  • S P Setia Berhad
  • Salcon Development
  • SBC Corporation
  • SC Land
  • SCP Property
  • See Hoy Chan Sdn Berhad Group
  • Selangor Dredging Berhad
  • Seni Nadi Land
  • Sentrilands Sdn Bhd
  • Seri Mutiara Development
  • Setia Haruman
  • Simas-D Sdn Bhd
  • Sime Darby Brunsfield
  • Sime Darby Property
  • Sin Heap Lee Development
  • SkyWorld
  • SM Land
  • SSH Group
  • Suez Domain
  • Sunsuria Berhad
  • Suntrack Development
  • Sunway Berhad
  • SYF Development
  • Symphony Life
  • TA Global
  • Tago (M) Sdn Bhd
  • Tahap Warisan Sdn Bhd
  • Talent Team Sdn Bhd
  • Tan & Tan Developments Berhad
  • TEE Land
  • The Clearwater Group
  • Thriven Global Berhad
  • Titijaya Land
  • TLS Group
  • Top Home Builder Development
  • Tradewinds Corporation
  • Trinity Group
  • Tropicana Corporation
  • TS Law Developments
  • Tujuan Gemilang
  • TYL Land
  • UDA Holdings Berhad
  • UEM Sunrise
  • UM Land
  • UOA Development
  • Urban Hallmark Properties
  • Vacaron Company (F&N Properties)
  • Venus Assets Sdn Bhd
  • Villamas
  • VST Group
  • WCT Land
  • Weida (M) Bhd
  • Wing Tai Malaysia
  • WZR Property
  • Yanjian Group Malaysia
  • YNH Property
  • YTL Land & Development
  • Zalam Group

 

 

Sources say that there is a possibilty of the Employees Provident Fund (EPF) being part of the team.

Shares linked to Lim – namely Malton Bhd and WCT Holdings Bhd – saw active trading. Malton was up 18 sen to close at RM1.55 while WCT increased by 12 sen to finish the day at RM2.31.

“Lim and the Malton group have in the past been associated with the Bandar Malaysia project. The foreign partner at that time was said to be Qatar Investment Authority (QIA), the sovereign wealth fund of that country,” said a source.

There were said to be 40 bidders during the Bandar Malaysia’s tender process in 2014, among them Tan Sri Desmond Lim partnering a QIA.

However, QIA no longer put its money into iconic property development projects.

Set up in 1988, the Dalian Wanda Group focuses on several major industries namely commercial property, luxury hotels, culture, Internet, finance, tourism, sports and departmental stores.

Under the leadership of Wang, 63, who has been chairman of the group since 1989, Dalian Wanda has grown to become the world’s largest private property developer and owner, and the world’s largest cinema chain operator.

The group wholly owns Wanda Cinemas in China and Hoyts Group in Australia, as well as a majority stake in US-based AMC Theatres.

In its website, Dalian Wanda says its vision is to become a world-class multi-national corporation with assets of US$200 billion (RM867 billion), market capitalisation of US$200 billion, revenue of US$100 billion and net profits of US$10 billion by 2020.

Last year, the group’s assets stood at 796.2 billion yuan (RM500.7 billion), with an operating revenue of 255 billion yuan.

Dalian Wanda was ranked 385th on the Fortune Global 500 List in 2015.

The group’s property division Dalian Wanda Commercial Properties made its debut on the Hong Kong Stock Exchange in December 2014. The exercise raised US$3.7 billion.

Wang Jianlin has a net worth of US$31.4 billion making him the richest man in China. He is ahead of Jack Ma of US$29.5 billion according to Forbes’ latest ranking.

At present, its unit – Wanda Commercial Properties – is the world’s largest commercial property enterprise, holding a combined 32.33 million sq m of property space. It has opened 187 Wanda Plaza projects in Beijing, Shanghai, Chengdu and Kunming with plans to open 50 more in China this year.

In its cultural division, the company’s Wanda Cultural Industry Group is considered to be China’s largest cultural enterprise, with an annual revenue of 64.1 billion yuan in 2016.

Through its subsidiaries, the company operates cinemas, film industry parks, performing arts, film technology entertainment, theme parks and karaoke venues. It also offers film production, publications, media, art collecting and cultural tourism services.

In the Internet segment, the group’s Wanda Internet Technology Group is China’s only Industry + Internet large open platform. It has Ffan Technology, 99Bill, Credit Rating Company, Online Credit Company, Big Data, cloud computing, artificial intelligence and scene application.

In the financial segment, Wanda Financial Group has investment, asset management, insurance and other companies. It aims to achieve a fully-licensed financial operation.

 

Valuation issue

One key issue to note is that the value of Bandar Malaysia should have significantly increased since IWH CREC Sdn Bhd (ICSB) inked the deal with the then 1MDB Real Estate Sdn Bhd, now TRX City Sdn Bhd.

This was part of 1Malaysia Development Bhd (1MDB)’s efforts to pare down its debts through asset monetisation. 

The deal was signed in December 2015 for ICSB to pay RM7.41 billion for its 60% stake. Thus, this deal valued the 486 acres (or 21.17 million sq ft) Bandar Malaysia land at RM12.35 billion, or RM583.37 psf.

The land was also said to have an estimated gross development value (GDV) of RM200 billion at that time.

1MDB first acquired the plot of land in Sungai Besi, which was an old airport site, for RM400 million in 2013. Based on reports, the book value of Bandar Malaysia stood at RM4.2 billion as at 31 March 2014.

TRX City is the master developer of the Bandar Malaysia project that is under the ambit of the Ministry of Finance (MoF), which has taken over from 1MDB following a restructuring. The transfer of TRX City and Bandar Malaysia from 1MDB to the MoF came into effect recently.

ICSB is a consortium comprising Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC). In March this year, Iskandar Waterfront City Bhd (IWC) had proposed to acquire IWH in a deal that was closely looked at by investors because of the potential exposure to Bandar Malaysia.

 

Higher price now?

Market observers say the value of the land is much higher today.

This was all the more apparent after Alibaba founder and executive chairman Jack Ma visited Malaysia last month to jointly launch the Digital Free Trade Zone (DFTZ) with Prime Minister Datuk Seri Najib Tun Razak.

The DFTZ, which has two key aspects – Alibaba’s regional logistics (e-fulfillment) hub in the KL International Airport (KLIA Aeropolis project) and the Kuala Lumpur Internet City (KLIC) – that is set to become the New Silicon Valley of South-East Asia located in Bandar Malaysia.

The DFTZ is expected to accelerate the growth of Malaysian small and medium enterprises, increase overall exports by US$25 billion (RM108 billion) and create 60,000 jobs by 2025.

Intrinsically and sentiment-wise, Ma’s presence and plans for the DFTZ have boosted the value of Bandar Malaysia’s land.

More importantly, Bandar Malaysia is no longer viewed with a jaundiced perspective.

On a conservative basis, if one were to value the 486 acres of the land in Bandar Malaysia at RM1,000 per sq ft, this would translate into RM21 billion in terms of land value.

Some 20 years ago, the central business district (CBD) around the Kuala Lumpur City Centre (KLCC) area was only valued at RM100 per sq ft. Today, high-end apartments are going for more than RM1,500 per sq ft.

That same effect in KLCC could be replicated in Bandar Malaysia, considering the very ambitious developments and infrastructure that have been put in place.

“We believe if all 486 acres were to be sold on an outright basis, it would cost about RM1,000 per sq ft.

“If the land were to be sold in smaller plots or on a net developable basis, it could fetch between RM2,000 and RM3,000 per sq ft. If valued at RM1,000 per sq ft, the land will be worth RM21.17 billion,” says PPC International Sdn Bhd managing director Datuk Siders Sittampalam.

“Valuing the land at RM1,000 per sq ft is as cheap as you can get, especially for CBD land,” says one observer.

He adds that the plot ratio in Bandar Malaysia is 8 times (which could go higher), whereas in TRX, where the lowest transacted land pricing was going for RM2,700, the plot ratio is 4 times.

Bandar Malaysia is a mixed-use transit-orientated development (TOD) strategically located in the heart of Greater Kuala Lumpur.

It is planned as Kuala Lumpur’s gateway to the high-speed rail (HSR) to Singapore and to become a central transportation hub in the city via the MRT Line 2 and Line 3, KTM, ERL (Airport Transit), BRT and future access to major highway networks such as the upcoming 32km Duta-Ulu Kelang Expressway Phase 3 (DUKE 3), whereby its 2km portion is located inside Bandar Malaysia.

In essence, the value of Bandar Malaysia is different now, considering that it has a clear masterplan, tax incentives formalised and transport elements firmed up.

It is likely that a new tender process will be carried out by the Government for the project.

 

News Source: The Star BizWeek, 6 May 2017

The skating rink is among a series of some 15 venues, divided into three clusters, for the 405 competitions from 38 sporting events.

Mammoth Empire Holdings Sdn Bhd (MEH) group executive director Datuk Danny J.Y. Cheah said the Olympic-size rink, an investment of about RM30 million, will “be ready as early as next month” for what may be a series of pre-SEA Games events before it hosts the actual SEA Games winter events between 19 August and 30 August.

“The pre-Games events are part and parcel of their training, to ensure things run smoothly when the actual event takes place, and to test the rink and other systems,” said Cheah.

The skating rink, to sit 500 spectators, will be located inside the Empire City mall, which is still work-in-progress, but members of the public will be able to view the events, he said.

Cheah said the Basement Two carpark level of Empire City mall has about 2,000 car parking bays which have been ready since last year.

“Stakeholders, residents and officials who have any business to be there are parking there now,” Cheah said.

As for the Empire City mall, which had its opening postponed a couple of times, Cheah said this too will be ready by November or December this year.

PTLM Research was earlier informed by retailers that a pre-opening of the Empire City mall main area was set on 7 December. It was said that the mall will open gradually stage by stage.

He told StarBiz the mall is 75% tenanted and will be opened in stages.

“It will not be fully tenanted but we are getting there,” he said, adding that a press conference will be held to unveil the rink and the developments there. The development will also have a virtual reality theme park which is expected to open in the first quarter of next year.

The successful hosting of two out of 38 sports under the SEA Games will offer some degree of redeeming grace to the MEH group as it has not been short of negative publicity.

The mall was delayed a couple of times and there were some issues with regards to some of the commercial developments there.

The pre-SEA Games events in July, about a month before the actual Games, will be a sort of curtain-raiser for the MEH group and the 28-acre mixed integrated project.

This will be the first time winter events comprising figure skating, short track speed skating and ice hockey are being introduced in the SEA Games.

A SEA Games secretariat official said the training for figure skating, short track speed skating and ice hockey events have been confirmed beginning 20 August. Each of the three events will have different or overlapping training dates.

The SEA Games secretariat official said there have been “constant visits and constant progress” so far.

“The pre-Games event will help us to practise the whole system, that is, the displays, how things flow and the officials involved and other logistics issues. The objective is to make the pre-Games events as similar to the actual event as possible,” he said.

“Although it is a semi-construction site, it will be accessible to the public,” the official said.

According to the MEH website, the 28-acre Empire City mixed integrated development which fronts Lebuhraya Damansara-Puchong, will have a mall with a net nettable area (NLA) of 2.5 million sq ft spread over four levels.

For comparison, Bandar Utama’s 1 Utama second retail wing has a net lettable area of 1.2 million sq ft.

 

News Source: The StarBiz, 27 April 2017

The 2.7-acre leasehold development has an estimated gross development value (GDV) of RM500 million and is located in Taman Pudu Ulu, overseeing the 60-acre Pudu Ulu Recreational Park.

Targeting a wide range of homebuyers, the developer is looking to launch Parc 3 by Q4 2017. According to Beh, Parc 3 will provide those who are looking to dwell in Cheras a different housing option as most homes in Cheras are landed ones, which may not be affordable to young professionals.

“We are not only offering a product based on pricing but also providing more options for homebuyers.

“With the current market condition, Parc 3 gives a good balance between yield and liveability. Previously, we were targeting people who want to live there with their extended families. Now we are targeting smaller families and people who are looking to move to Cheras.

“One of the main aims of the redesign has been to increase the number of smaller size units to cater to a broader segment of the market and also in recognition of changed market conditions which has made buyers more discerning and price-conscious,” he told TheEdgeproperty.com.

However, the developer declined to disclose the price range for Parc 3, only saying that the pricing “will be very competitive in the Cheras area considering the design and facilities offered”.

“It will be designed around a park concept as there will be three interior parks in the building to (complement) the large Taman Pudu Ulu recreation park that is adjacent to the project. The quality of the architectural design, facilities and unit features will remain high,” said Beh.

Previously, The Weave consists of 361 units housed in a 41-storey block. As per PTLM Research‘s check, the Parc 3 now consist of a 47-storey block with 793 units.

The developer will also launch its updated sustainability strategy called Sustainability Plus, during the upcoming launch of Parc 3.

“Sustainability Plus is not a marketing gimmick. We believe in taking a long-term view of the industry, so sustainability has to be taken in a wider context.

“This means going the extra mile to come up with good designs that will enhance liveability. We always talk about green buildings, but have you ever thought about who will change your property’s solar panels after five years?

“Thus, we focus a lot on passive design where not much maintenance is required. Creativity or innovation isn’t about how much money you have to spend (in developing a property),” said Beh.

Meanwhile, the Kedah-based developer’s maiden project in KL, Novum in South Bangsar, has seen good take-up rates since it was launched a year ago. The condominium project has achieved about 90% take-up to date.

“I don’t want to be overly optimistic as the market changes every day but the good take-up rate of Novum has certainly boosted our confidence,” said Beh, adding that Novum is slated for completion by May 2019.

The freehold Novum South Bangsar is being jointly developed with Asthetik Property Group. It comprises 729 units across three towers. The three-acre project faces the Federal Highway and is less than 3km away from Mid Valley City.

The project has a GDV of RM555 million. Prices for the units with built-ups from 647 sq ft to 1,441 sq ft range from RM720,000 to RM1.73 million, or RM900 psf.

Facilities of at Novum include an Olympic-sized swimming pool, playground, floating gym, outdoor lounge, a business centre, a private celebrity kitchen, and a new application dubbed by the developer as the “New Digital Life app” which will help facilitate dealings between residents and the building management.

The celebrity kitchen will incorporate professional cooking facilities, allowing residents or their designated chefs to prepare meals. It will be linked to a dining area that can host small to medium-sized gatherings.

For 2017, Eupe is looking to launch a total of RM600 million worth of projects in both KL and Kedah. It still has a landbank of about 400 acres in Kedah.

“Kedah houses are definitely a lot cheaper, easily 20% to 25% cheaper (than houses in major cities). But you should not generalise housing prices in Kedah because prices are different across towns. For example, houses in Baling are more expensive than the ones in Sungai Petani.

“But during a boom market, Kedah will never have the same kind of upside potential as KL. (Hence) we know that we cannot put all of our eggs in one basket.

“(Having said that) our forte still lies in township developments, where we have the upper-hand of having developed townships in smaller cities in Malaysia. So when the market slows down, we have these areas (such as Kedah) to help us hold the fort. We don’t think we would forgo whatever we have in Kedah,” he said.

Among its ongoing projects in Sungai Petani are The Somerset, Cinta Sayang Resort Villas and Astana Parkhomes with GDVs of RM80 million, RM160 million and RM430 million, respectively. New phases for these projects will be launched in stages this year.

On its earlier plans to expand into China, Beh said those plans are now off due to slow market conditions.

“For now, we want to consolidate and do our jobs here (in Malaysia) over the next few years but should there be any good opportunities overseas, we will definitely look at it,” said Beh.

Eupe’s director for strategic projects Paul Chang said the Chinese market is not as simple as it seems.

“China isn’t a single market. It is made up of multiple markets in different cities. In terms of overhang, there isn’t much in cities like Shanghai and Beijing but it is completely different in third-tier cities. So for us to go into this kind of market, we will have to compete with the big boys and if we cannot get the resources we need, it won’t work (for us),” he noted.

 

News Source: The Edge Property, 14 April 2017

If the acquisition is realised, S P Setia will become the third largest property developer by landbank in Malaysia, just behind Sime Darby Property (28,000 acres) and UEM Sunrise Bhd (13,000 acres), S P Setia president and CEO Datuk Khor Chap Jen told reporters after the signing ceremony yesterday.

The indicative price for the acquisition of the entire equity interest in I&P Group from its substantial shareholder PNB is estimated to be between RM3.5 billion to RM3.75 billion. This price represents between 35% and 38% of S P Setia’s current market capitalisation of about RM10 billion.

Both companies belong to PNB’s stable of property companies.

However, the final purchase price will only be determined and agreed upon taking into consideration the necessary due diligence results, the audited net asset value of I&P Group which as at end-2016 was RM3.16 billion, and the market value of all the landbank, on-going projects and investment properties of I&P Group as appraised by the independent property valuers to be appointed by S P Setia.

The signing ceremony was witnessed by PNB group chairman Tan Sri Abdul Wahid Omar and president and group chief executive Datuk Abdul Rahman Ahmad. Abdul Rahman said the merger of the two companies will create one of the largest property companies in Malaysia. I&P has an undeveloped landbank of 4,263 acres.

The combined landbank of S P Setia and I&P Group will be around 9,481 acres with an estimated combined gross development value (GDV) of about RM122 billion.

The enlarged group will also be poised to have a revenue of about RM5 billion, with S P Setia and I&P Group currently generating RM4 billion and RM1 billion in revenue, respectively.

Tan Sri Abdul Wahid Omar said: “This will require finance and funding. We are evaluating how best to finance it. It is still early (days) but PNB will stand by to support this to make sure the transaction is successful.” He says the acquisition process will be transparently done, and that PNB will not vote on it and will be careful and mindful of minority shareholders of S P Setia.

Khor said S P Setia has been on the lookout for land for some time now as it has used up most of its landbank. For township development, S P Setia has around 700 acres in the Klang Valley and a similar sized landbank in Johor. Hence the acquisition of I&P will help solve S P Setia’s search.

Khor said the consolidation period for S P Setia is over and the property developer has set a five-year strategic plan to boost its current market capitalization of about RM10 billion to RM18 billion by 2021 and become one of the component stocks in the FTSE Bursa Malaysia KLCI Index.

“Acquiring I&P Group is more than just landbanking. We see a lot more synergistic opportunities with the company as it owns more than 4,200 of prime lands in the Klang Valley and Johor,” he said.

Some of the lands under I&P Group are located in places where S P Setia currently has no presence in so it could give the latter an opportunity to venture into new markets, such as Kinrara and the Southern parts of Klang, Khor explained.

In addition, I&P Group has a light balance sheet with very low debt level, so it will be an excellent platform to support S P Setia’s future financing for growth, he said.

“We have 1,800 staff now but it is not enough for us to carry out our plans and advance into a higher level, so I&P Group will also provide immediate access to a ready talent pool for our expansion plan.” Khor noted.

Yesterday’s signing ceremony also included a deal in which S P Setia will buy 342.5 acres in Bangi from Seriemas Development Sdn Bhd for RM447.6 million, or about RM30 per sq ft, plus a share of the future audited profit before tax from its development, up to a maximum of RM3 per sq ft. Seriemas is a subsidiary of PNB Development Sdn Bhd.

According to KAF Research, this conditional profit sharing component of 20% effectively raises the acquisition cost from RM30 per sq ft (psf) to RM33 psf.

For comparison, Mah Sing Group Bhd’s successful Southville City, a 408-acre mixed township development in Bangi, was acquired for RM18.56 psf back in May 2012. Nonetheless, “we note that land prices has been rising since then due to the scarcity of choice development land suitable for township development in the vicinity,” says KAF.

The land is located within the 5km radius from SP Setia’s existing township developments – Setia EcoHill and Setia EcoHill 2 in the southern corridor of the Klang Valley.

While analysts and bankers work out the numbers the days ahead, the two events created much excitement for S P Setia staff. Said an S P Setia source: “This is good news. When something like this comes along, we have to work even harder. It also shows that PNB believes we can cope with this. There is an underlying reason why SP Setia staff are bullish about the deal.”

In 2011/2012, PNB, then under Tun Ahmad Sarji Abdul Hamid, triggered a hostile takeover of S P Setia. The encounter created a fair bit of uncertainty. On 1 August 2016, Tan Sri Abdul Wahid Omar was appointed chairman, replacing Ahmad Sarji who had 19 years with PNB.

As one S P Setia source stressed, the new guy is “easy to connect with. Hopefully, today will be the beginning of a new chapter in the PNB-S P Setia relationship,” he says. I&P Group, a wholly-owned subsidiary of PNB, was formed in 2009 after the mergers of three property companies, namely Island & Peninsular Sdn Bhd, Petaling Garden Sdn Bhd and Pelangi Sdn Bhd.

Tan Sri Abdul Wahid Omar said: “We believe in leveraging on the strengths of the two organisations, the position of S P Setia and with that of I&P.” It is believed that they will compliment each other in terms of landbank, skills and other resources.

S P Setia’s financial year 2017 sales target of RM4 billion already makes the property giant one of Malaysia’s top developer in terms of sales. Even without the acquisition, S P Setia had already lined up RM5.4 billion worth of new launches for 2017.

For Q4 2016, S P Setia reported more than three times quarter-on-quarter jump of net profit to RM424.8 million, due to handover of London’s Battersea Power Station Phase 1 units and from its Parque project in Melbourne, Australia. The developer locked in new sales of RM1.8 billion in the last quarter of 2016, bringing full year sales to RM3.8 billion, which exceeded management’s sales projection of RM3.5 billion.

For the financial year 2016, S P Setia’s revenue totalled RM4.96 billion, compared to RM6.75 billion a year ago which accounted for 14 months financial results.

A key question will be management and drivers of the new entity. A source says the current S P Setia management team will continue to manage the enlarged entity. Yuslina Mohd Yunus, who has been with I&P for 26 years, has also been designated group managing director effective 1 May 2017, replacing Datuk Jamaludin Osman who retires on 30 April.

 

• PROPERTY REVIEW
• LOCATION
• AAI
• GALLERY

The Heart of Modernity.
Affordable SoHo units from only RM238,800*.

KIP Sentral at Sepang is a freehold 39-acre commercial development within the Kota Warisan township. It is approximately 10 minutes away from KLIA and is near to several renowned universities such as Xiamen University Malaysia Campus, INTI International University, Nilai University and University Sains Islam Malaysia.

Great visibility is achieved as most of KIP Sentral fronts the Pintasan Dengkil Bypass which is the main access to Kota Warisan. The dual-carriageway is busy and has a direct interchange to Warisan Puteri township next to KIP Sentral.

KIP Sentral comprises Core Avenue, a 76-unit retail shop-offices; KiP Mall (opening soon), and the upcoming Core SoHo Suites and KiP Hotel. Next to KIP Sentral is an existing McDonald’s drive-thru outlet and a Shell petro station that are frequently busy with customers.

Within the KIP Sentral vicinity, there are also two types of modern designed shoplots which was launched and fully sold:-

1. 104 units of 2- and 3-storey terrace shoplots measuring from 22’ x 75’ to 43’ x 75’, and

2. 28 units of 3-storey semi-d shoplots measuring 38’ x 75’.

Xiamen University Malaysia Campus is the first university from Mainland China to open an overseas branch. It is a mere 5-minute drive from KIP Sentral. This commercial development will serve the basic, lifestyle and entertainment needs of the surrounding residents, passerby to KLIA airport and the growing student population.

The 3.2-acre Core SoHo Suites has a gross development value (GDV) of RM140 million. The small-office, home-office development comprises two blocks — Block A with 288 units and Block B with 178 units. Block B was launched on 16 September 2016 with a take-up rate of over 80%. The unit built-up size is 450 sq ft while the minimum selling price in Tower B starts from RM238,800 or an average of RM530 per square foot.

The second tower of Core SoHo Suites, Tower A, is now open for sale.

 

Potential and affordable with great student catchment.

 

 

LOCATION, VISIBILITY AND SURROUNDING ENVIRONMENT

Core SoHo Suites is strategically located in the nucleus of Kota Warisan, a fast developing township in Sepang earmarked as an international lifestyle destination. This township in the southern region of Klang Valley enjoys easy access to 11 major highways like Maju Expressway (MEX), ELITE Expressway, Putrajaya-Cyberjaya Expressway, KLIA Expressway, SKVE, LDP, SILK, North-South Expressway, Jalan Nilai-KLIA, Jalan Bangi-Dengkil and Jalan Banting-Dengkil.

It also has easy access to LRT and KTM lines via the nearby Express Rail Link (ERL) Salak Tinggi station.

Being adjacent to Cyberjaya and Putrajaya puts Core SoHo Suites within range of government administrative offices and several top multinational companies such as NTT, T-Systems, Dell, DHL, HP Campus, HSBC, OCBC, IBM, Shell, and many more.

Core SoHo Suites’ most immediate visibility shall be derived from its 2km proximity to the current Xiamen University, a top ranked university in China. This huge growing campus currently houses 1,300 students and the numbers is expected to increase to 10,000 by the completion of its 2nd phase.

Core SoHo Suites is the first SoHo development in Sepang. It has practical open concept and is equipped with lifestyle facilities (swimming pool, gymnasium, multi-purpose hall).

And Kota Warisan township’s visibility will continue to grow exponentially. Its close proximity to KLIA and KLIA 2 places it within the booming path of the 24,700 acre KLIA Aeropolis project and also Alibaba Group’s first e-hub outside of China, in the form of a regional distribution hub to be established in Malaysia under the Electronic World Trade Platform (eWTP) and Malaysia Digital Economy Corporation (MDEC) joint initiative.

 

Artist’s impression of Core SoHo Suites Tower B.

 

Artist’s impression of Core SoHo Suites Tower A (left) and Tower B (right).

 

Artist’s impression – front view of Core SoHo Suites.

 

The environment and ambiance around Core SoHo Suites is serene and peaceful with many pockets of lush greeneries. The surrounding developments are also well spread out and are of low density, mainly consisting of residential houses and low-rise apartments.

Persiaran Warisan and Evira double-storey terrace link house within Warisan Puteri Sepang township next to KIP Sentral.

 

DISTANCE TO KEY LOCATIONS AND GROWTH VALUE OF AN ADDRESS

Situated in the fast growing southern region of Klang Valley, Core SoHo Suites is only a short distance to a wide array of key localities and landmarks such as:

• KLIA (13km)
• KLIA 2 (13.5km)
• Mitsui Outlet Park KLIA (11km)
• Xiamen University Malaysia Campus (2km)
• Horizon Village Outlets (3km)
• Sepang F1 Circuit (12km)
• ERL Salak Tinggi (3km)
• IOI Resort City (27km)
• Sunsuria City (upcoming, 1.6km)

 

DEVELOPMENT DETAILS

Core SoHo Suites comprised of 2 towers totaling 466 SoHo units. Details of the towers are as follows:

• Land Size : 3.25 acres
• Land Tenure : Freehold
• Property Type : SoHo
• Total Units : 466 (Tower A & B)
• No. of Retail Shops : 76 retail units
• Total Carpark : 778 parking lots (4 storey)
• Tower A Total Floor : 15 floors (Tower A / 288 units / 33 units per floor)
• Tower B Total Floor : 13 floors (Tower B / 178 units / 23 units per floor)

 

DEVELOPER AND BRANDING

KIP Group has since its incorporation in 1993 been noted for its reputation as a dependable property developer in delivering value added and quality products. The innovative and receptive approach adopted by the Management allows the Company to produce products that the customers look for in their property.

On 6 February 2017, KIP Real Estate Investment Trust (KIP REIT) celebrated their debut on the Bursa Malaysia. Since its initial public offering on the exchange, KIP REIT has successfully raised RM234.2 million.

 

SURROUNDING COMMERCIAL, INFRASTRUCTURE, AMENITIES, DISTANCE AND ACCESSIBILITY

Presently, the locality is self-sustainable with several ready basic amenities such as Affin Bank, McDonald’s complete with drive through facilities, 7-Eleven, Domino’s Pizza, 99 Speedmart (on the other side), Shell petrol station, mini-markets, local restaurants, budget hotels and cafes.

 

ORANGE Boutique Hotel, one of the earliest budget hotel operating at KIP Sentral shoplot, next to it is Domino’s Pizza.

 

Presence of bank, F&Bs, convenience stores, budget hotels, tyre shops and others operating at KIP Sentral shoplots.

 

Drive-thru McDonald’s at Kota Warisan next to KIP Sentral.

 

Moreover, the adjacent KIP Mall is nearing completion and is ready to be opened soo, and according to the developer, its proposed tenants are Secret Recipe, KFC, MBG, Subway, Watsons, Econsave, Mr D.I.Y. and many more. Upon completion, Core SoHo Suites will also be served by 76 units of by its own retail podium – Core Avenue retail shops.

 

Core Avenue retail shops layout plan.

 

Interior impression of Core Avenue retail shops.

 

Interior impression of Core Avenue retail shops.

 

Nearing completion KIP Mall @ Kota Warisan, Sepang.

 

Some of the proposed tenants at KIP Mall.

 

Should one decide to take a short drive away, several existing notable malls and hypermarkets are within a few minutes reach:

Shopping

• 14km to Tesco Bandar Baru Nilai
• 15km to Mitsui Outlet Park KLIA
• 17km to D’Pulze Shopping Centre, Cyberjaya
• 18km to Tamarind Square, Cyberjaya (upcoming)
• 18km to Gem in Mall, Mutiara Ville Cyberjaya
• 24km to Alamanda Putrajaya
• 27km to IOI City Mall at IOI Resort City (megamall status with an upcoming extension wing)

In terms of educational infrastructure, just within a short driving radius are:

Universities and Colleges

• Xiamen University Malaysia Campus within Kota Warisan itself
• Limkokwing University of Creative Technology, Cyberjaya
• Multimedia University (MMU), Cyberjaya
• Heriot-Watt University Malaysia Campus, Putrajaya
• Cyberjaya University College Of Medical Sciences
• Universiti Teknologi Mara (UiTM), Dengkil Campus
• Universiti Tenaga Nasional (UNITEN)
• Infrastructure University of Kuala Lumpur (IUKL)
• University Malaysia of Computer Science & Engineering, Putrajaya
• Nilai University
• INTI International University Nilai Campus
• Universiti Sains Islam Malaysia, Bandar Baru Nilai
• Kirby International College, Cyberjaya
• FTMS Global College, Cyberjaya

Schools and International Schools

• SJK(C) Dengkil
• SMK Dengkil
• SJK(C) Union Lakefront Cyberjaya (upcoming)
• Sekolah Sultan Alam Shah
• Nexus International School, Putrajaya
• ELC International School, Cyberjaya
• Alice Smith School – Secondary Campus, Equine Park
• Rafflesia International School, 16 Sierra, Puchong South

Accessibility to Public Transport

Core SoHo Suites is situated only a mere 2km away from the ERL Salak Tinggi station which boasts a unique twin snail-like architecture. From this station, city centre access is made easy to all major integrated transportation hubs:

• 1 station away to KLIA (highly potential to capture airport and airline workers).
• 2 stations away to Terminal Bersepadu Selatan (TBS) rail-bus interchange station.
• 3 stations away to KL Sentral transportation hub (linked to Monorail, LRT, MRT Line 1, ETS or KTM Intercity, KTM Komuter, RapidKL buses).

 

ERL Salak Tinggi station and the fares of ERL Transit Service, ie. RM12.50 one-way ticket to KL Sentral from Salak Tinggi.

 

Accessibility via/to major Highways

Core SoHo Suites will have easy access to 11 major highways like Maju Expressway (MEX), ELITE Expressway, Putrajaya-Cyberjaya Expressway, KLIA Expressway, SKVE, LDP, SILK, North-South Expressway, Jalan Nilai-KLIA, Jalan Bangi-Dengkil and Jalan Banting-Dengkil.

In addition, the upcoming ELITE Highway Salak Tinggi Interchange (E609), which is approximately 2.5km away, will open up convenient access to this highway artery enroute to Nilai North Interchange and the North-South Expressway thereafter.

 

E609 is a trumpet-interchange and it will serve as the main access to Dengkil and Ampar Tenang, and more importantly the growing Kota Warisan next to the interchange.

 

EXISTING DEMOGRAPHICS

The Kota Warisan locality is currently at the early stage of its large blossoming development such as Sunsuria City by Sunsuria Bhd and Serenia City by Sime Darby Property Bhd. Presently its locality population mainly consists of civil servants, university students and employees of the nearby factories, laboratory, tourist-on-transit, airport ground staff, airline crews and lecturers which are made up of middle to middle upper income earners. Kota Warisan is the home to KFC Hatchery, a latex glove factory owned by Wembley Rubber Products, Veterinary Public Health Laboratory of the Departmen of Veterinary Services Malaysia and the National Metrology Laboratory.

Its neighbouring Cyberjaya and Putrajaya largely consist of administrative employees from the Federal Government, multi-national corporations (MNCs), small-medium enterprise communities as well as higher learning institution communities with semi-moderate purchasing power. Meanwhile, the total student population in Cyberjaya, Putrajaya, Bangi and Nilai is estimated to be over 32,000.

IOI Properties Bhd’s Warisan Puteri development will anchor 200 acres of land in the heart of Kota Warisan. The first two phases – Evira and Avista – are now almost ready for occupancy, which according to the developer staff, they mainly consists of own-stayers and upgraders property owners.

 

PRESENCE OF FUTURE CATALYSTIC PROJECTS

The coming future catalysts that will drive the development boom around Core SoHo Suites.

 

Xiamen University Malaysia Campus – 2km

Xiamen University or better known as “Xia Da” is a prestigious university in China which is currently being ranked 11th spot among other 2,000 higher learning institutions in China and ranked 275th spot globally. Since its founding, in 1921, Xiamen University has produced more than 200,000 undergraduates and graduates. Over 60 academicians of the Chinese Academy of Sciences (CAS) and the Chinese Academy of Engineering (CAE) have studied or worked at Xiamen University. In China, it has 27 schools containing 76 departments and 10 research institutes.

The Malaysian campus is a first overseas branch campus of a China university. Built on 148 acres (60 hectares) of land, the RM1.3 billion university campus with full campus facilities will be able to accommodate up to 20,000 students once it is fully developed. The university website proudly mentioned that:

The establishment of Xiaman University Malaysia (XMU) sets new heights in the areas of cooperation and exchange in education between China and Malaysia. XMU is driven to build the campus into one of Malaysia’s best, enriching Malaysia’s tertiary education landscape to produce high-quality talents with international competitiveness.

The first enrollment of 500 students was completed in September 2015 with the student numbers rising to 1,300 now. This will grow to 5,000 in 2020; and eventually reach more than 10,000 students. Most of the students come from Malaysia, China, and other ASEAN countries. The teaching staff comprises distinguished professors of Xiamen University and excellent teachers are being recruited from around the globe. The ratio of students to teachers is set to be 15:1.

XMU masterplan.

 

The establishment of XMU has generated great interest among Malaysians and Chinese, and has triggered pledges of financial contributions for its success. These have been led by Malaysia’s richest man, Robert Kuok, who has generously contributed RMB 200 million for the construction of the university’s main building – the library building; Board Chairman of China Garden and Forest Group Corporation, You Yuhan, with RMB 50 million for the construction of the No.4 Building of the main building complex of the campus; and IOI Group Executive Chairman Tan Sri Lee Shin Cheng with a contribution of RMB 30 million for the construction of the No.1 Building of the main building complex of the campus.

PTLM Team visited the campus recently and checked that the progress of Phase 2 main administrative and academic buildings are nearing completion.

 

Horizon Village Outlets – 3km

Just 3km to the north lies the HVO which holds 400,000 sq ft of outlet shopping experience on a 30 acres of land. Designed by an international team of architects from Ross Adams USA, the structures of HVO will resembles the alphabet L with a centre court. It is positioned as a luxury outlet offering global brands and a unique experience.

Artist’s impression of Horizon Village Outlets.

 

HVO plans to sign up more than 150 well-established luxury and casual fashion brand retailers and well known F&B operators where the F&B outlets will be located at each end of the structure. Jointly developed by Michigan-based Horizon Group Properties and Mainstay Holdings Sdn Bhd, HVO features an outdoor environment with 100% covered walkways for customer convenience and comfort. There will be 2,000 carpark bays underground.

The upscale design and materials are consistent with the image of luxury retail brands. HVO will also have elegant common area features which will include water elements and sculptures designed to create a sense of place and enhance customers experience.

Weather-proof and luxury ambience combined with colonial charm are among differentiating features compared to its nearest competitor Mitsui Outlet Park KLIA.

 

KLIA Aeropolis – 8km

The total 404.7 hectares of land around the KLIA is primed to emerge as a significant airport city in Asia over the next 5 to 10 years. The KLIA Aeropolis is expected to attract RM30 billion of gross domestic product (GDP) contribution over a 15 year period and create 56,000 jobs in doing so.

Artist’s impression of KLIA Aeropolis, a true world-class airport city.

 

Alibaba’s Regional E-Fulfillment and Logistic Hub – 8km

China e-commerce giant Alibaba Group under the leadership of Jack Ma is setting up a trade and logistics hub in Malaysia’s new Digital Free Trade Zone (DFTZ) within KLIA Aeropolis. To commence in 2019, this e-fulfillment hub in Malaysia will be Alibaba’s first such hub outside of China. It has the potential to double the growth rate of local Malaysian SME’s goods exports by 2025 and create 60,000 jobs.

The first phase of the DFTZ involves developing a regional e-commerce and logistics hub at the former LCCT Terminal, near KLIA. This hub will function as a centralized customs clearance, warehousing and fulfillment facility for Malaysia and the surrounding region, greatly speeding up the clearance process for imports and exports and boost the e-commerce boom.

Alibaba Group will work together with MDEC in the development of the hub, which will see the introduction of Alibaba One Touch platform that will link Malaysia directly to Hangzhou’s cross-border e-commerce pilot zone to enable SMEs and businesses to trade conveniently and efficiently between the two countries.

 

CONTINUITY DEVELOPMENT

Besides Core SoHo Suites and the KIP Mall, there will be 76 units of the Core Avenue retail shops at its podium and KIP Hotel to enhance the overall development further as well as the convenient lifestyle experience that comes with it.

 

LAND TENURE

The entire KIP Sentral including Core SoHo Suites is a freehold development.

 

PRACTICAL UNIT LAYOUT DESIGN

Core SoHo Suites consists of 447 Standard SoHo units of 450 sq ft and 19 Cabana Units of 566 sq ft. The efficiency of the unit layout is simplified and optimized for overall space utilization. Each unit is typically 4.1m wide and 10.2m long. The bathroom is located at the exterior end of the unit for appropriate natural ventilation.

Core SoHo Suites’ standard unit layout plan and artist’s impression of its internal layout design.

 

UNIT ORIENTATION

Tower A SOHO units face a North-South orientation while Tower B is of East West orientation.

The north facing units of Tower A will be overlooking KIP Mall towards Xiamen University Malaysia Campus and the Horizon Village Outlets. The pool-facing south oriented units of Tower A will face towards KLIA and the Sepang F1 Circuit. Meanwhile, west facing Tower B units will be overlooking a sea of greens in Salak Tinggi while the east and pool-facing units will overlook Nilai in the horizon.

 

Core SoHo Suites’ typical floor layout plan from Level 8 to 13. Cabana units are available on Level 7 facility floor.

 

Core SoHo Suites’ Level 7 facilities layout plan.

 

Location Map

GPS Coordinate: 2.822024,101.695842

 

Street View

Core SoHo Suites seen from Persiaran Warisan.

Accessibility, Amenities & Infrastructure

Distance:

• 14km to Kuala Lumpur International Airport 
• 15km to Putrajaya
• 16km to Cyberjaya
• 29km to Puchong 
• 46km to KLCC 

Accessibility:

• Putrajaya-Cyberjaya Expressway
• Jalan Bangi-Dengkil 
• Elite Highway 
• SILK Highway
• SKVE Highway 
• LDP
• MEX Expressway

Public Transportation:

• 2.0km to ERL Salak Tinggi Station 
• 18 km to Putrajaya Sentral Bus Station 
• 18 km to Upcoming MRT Putrajaya Station (MRT Line 2)

Future Infrastructure:

• 18 km to Upcoming MRT Putrajaya Station (MRT Line 2) 

Telecommunication:

• Fibre optic backbone
• Standard area backbone

 

Business Park:

• 13 km to Melati Square Putra Nilai 
• 17 km to Shaftbury Square Cyberjaya 
• 18 km to Malaysia Digital Economy Corporation (MDEC) 
• 20 km to Federal Government Administrative Centres Putrajaya
• 23 km to Selangor Science Park Cyberjaya 
• 27 km to IOI Resort City Putrajaya 

Shopping Centre:

• 0.2km to KIP Mart Kota Warisan 
• 15 km to Mitsui Outlet Park  
• 17 km to Dpulze Shopping Centre Cyberjaya 
• 18 km Gem in Mall Cyberjaya
• 24 km to Alamanda Putrajaya Shopping Centre 
• 27 km to IOI City Mall 

School & International School:

• 1.1km to SK Kota Warisan  
• 10 km to SMK Bandar Baru Salak Tinggi 
• 10 km to SMK Seri Sepang 
• 17 km to ELC International School Cyberjaya
• 20 km to Epsom College Malaysia   
• 26 km to Nexus International School Putajaya

 

University & College:

• 2.2km to Xiamen University Malaysia 
• 12 km to Inti International University Nilai Campus 
• 15 km to Heriot-Watt University Malaysia 
• 18 km to Multimedia University Cyberjaya Campus 
• 21 km to Limkokweng University of Creative Technology Cyberjaya Campus 

Healthcare:

• 19 km to Pusrawi Medical Centre KLIA 
• 19 km to Hospital Putrajaya
• 38 km to Kajang Hospital 

Leisure & Recreational:

• 15 km to Putrajaya Challange Park 
• 15 km to Putrajaya Taman Empangan Park 
• 17 km to Putrajaya Equestrian Park 
• 25 km to Farm in The City , Seri Kembangan
• 27 km to Palm Garden Golf Club , Putrajaya 
• 27 km to IceScape Ice Rink 
• 37 km to Broga Hill, Semenyih 

Nearby Landmarks:

• 0.2km to KIP Mart
• 1.8km to Shell Petrol Station Kota Warisan 
• 1.8km to McDonald’s Drive-Tru Kota Warisan 
• 2.2km to Xiemen University Malaysia 

KIP Sentral

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Core SoHo Suites

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IOI Resort City is connected with highways including South Klang Valley Expressway (SKVE) as the main entry and exit route, SILK Highway, Lebuhraya Damansara-Puchong (LDP), Maju Expressway, North-South Highway and Besraya Highway.

The Gems at IOI Resort City will be developed by IOI Properties Group (“IOIPG”), one of Malaysia’s Top Ten leading developer and Mitsubishi Jisho Residence (“MJR”), a wholly-owned subsidiary of Mitsubishi Estate Co., Ltd (“MEC”), which is a leading Japanese real estate developer in a diverse spectrum in the real estate industry including residential, office, retail and hotel businesses in both local and international scene.

The project is undertaken by Pine Properties Sdn Bhd (“PPSB”), a 99.8%-owned subsidiary of IOI Properties Group Berhad (“IOIPG”) and MJR Investment Pte Ltd (“MJRI”).

The land in which The Gems is to be developed is a freehold land measuring approximately 9.6 acres in IOI Resort City, Putrajaya.

The Gems, will see eight blocks of residential units with sizes ranging from 1,250 sq ft to 1,750 sq ft within a high-end development.

It will provide an affluent lifestyle to discerning home owners with a serene resort environment in a well-guarded enclave of lush greens and tranquil surroundings.

It is within close proximity of world class and award winning facilities such as 5-star branded hotels, award winning shopping mall and golf club and GBI-certified office towers. The Gems will offer a healthy and active lifestyle complemented by the various exclusive clubhouse, dining and entertaining facilities and amenities within its contemporary architectural design.

The development is scheduled to commence in FY2017; and is expected to be completed over the course of 4 years.

“Our collaboration with MJR is highly valued as its impressive track record and a brand renowned for its quality excellence resonates with the IOIPG drive to strive for the same in its property businesses covering property development, investment and leisure as well as hospitality.”

“We believe our IOIPG venture with MJR well known for its strong track record in providing high-quality residences will enhance the value of The Gems and IOI Resort City.

“The Gems will be an ideal property choice awaiting to be discovered by discerning home owners who will be buying into the mature well-planned lush-landscaped, integrated and sustainable development of IOI Resort City,” said Lee Yeow Seng, chief executive officer of IOIPG at a media conference on 29 March recently.

IOI Resort City is one of IOIPG’s sustainable township developments, with a well-conceptualized resort-style ambience; lifestyle conveniences of shopping, entertainment and recreation; with offices and residences within a lush green environment which includes Puteri Palma Condo, GBI-Certified IOI City Towers, world-class hotels ie Putrajaya Marriott Hotel, Le Méridien Putrajaya, the biggest mall in Southern Klang Valley namely IOI City Mall and an 18-hole championship golf course, Palm Garden Golf Club.

Lee added, “We are positive that this development will be yet another timeless gem in this mega-city development of IOI Resort City.” he added.

 

END OF PRESS RELEASE

According to TRX City Sdn Bhd chief executive officer Datuk Azmar Talib, there are two reasons to hold off the sale of the remaining land in the development.

The first is to allow fast and easy access to facilitate infrastructure construction within the development, and the second is to unlock the value of the real estate at a higher premium later.

“We want to keep the remaining available land in TRX to facilitate infrastructure development,” Azmar said.

TRX City is the master developer of the project that is now under the ambit of the Ministry of Finance Inc (MoF), which has taken over from 1Malaysia Development Bhd (1MDB) following a corporate restructuring.

“We don’t want to unlock everything upfront, especially when we have not yet completed building the infrastructure for the project. We believe when the infrastructure is ready, we will be able to fetch a much higher premium for the land,” he said.

To date, 60% of the 70-acre TRX land has either been sold or marked for development. The project has 28 acres, or 40%, left for future sale and development.

Speaking to reporters during a recent media familiarisation trip to Lendlease’s urban regeneration projects in Australia, Azmar said TRX City has allocated about RM3 billion for infrastructure works on the development to enhance its connectivity, sustainability and security.

The move is to make TRX the “best financial centre” in Kuala Lumpur.

Australia property group Lendlease is TRX City’s partner in the development of the 17-acre Lifestyle Quarter within the TRX.

Comprising a retail mall, six residential towers, a luxury hotel and park, the TRX Lifestyle Quarter will be developed in stages through a joint venture, with Lendlease owning 60%, and TRX City, 40%, of the partnership.

Lendlease will also be the development and construction manager for the TRX Lifestyle Quarter project that comes with an estimated gross development value of RM8 billion.

The development of the project is expected to be financed through a combination of equity and debt.

Lendlease first signed a conditional agreement for the development of the TRX Lifestyle Quarter project in a joint venture with TRX City in June 2014.

TRX City was known as 1MDB Real Estate Sdn Bhd then, and it was a wholly-owned unit of the controversial sovereign investment fund.

Two weeks ago, Lendlease firmed up plans to undertake the development of the TRX Lifestyle Quarter.

It is learnt that the Australian developer has put off its plans pending the transfer of the TRX development to the MoF. This is because the negative news surrounding the 1MDB have had an impact on the perception of the TRX development.

“The transfer of TRX City and Bandar Malaysia from 1MDB to MoF came into effect recently. Under the new structure, MoF owns TRX which in turn holds a 40% stake in Bandar Malaysia,” said a source.

According to an industry source, the completion of the transfer, which disentangled TRX City from 1MDB, is one of the conditions required for the group’s joint-venture agreement with Lendlease.

Lendlease’s joint-venture agreement with TRX City turned unconditional in the middle of last month, making way for the construction of the TRX Lifestyle Quarter to pick up pace.

Excavation for the basements of the development, encompassing The Exchange TRX retail mall, TRX Residences tower and a luxury hotel, has already completed.

Piling works are set to commence for The Exchange TRX in the coming weeks.

While critics contend that the deal took too long to finalise, Lendlease CEO for Asia Tony Lombardo felt that the duration taken was not unusual.

“Our deal on the Barangaroo urban regeneration project in Sydney took about 36 months to finalise before construction works began; the deal for the TRX Lifestyle Quarter project took about the same time, so that’s nothing out of the ordinary from our point of view,” Lombardo said.

The TRX Lifestyle Quarter is one of 12 large-scale urban regeneration projects that Lendlease is currently undertaking in major cities around the world.

Lombardo pointed out that most of Lendlease’s projects are done in partnership with governments.

“We believe the best large projects in the world always happen in partnerships, and they are always in alignment with the Government’s vision for the city,” he explained.

Lendlease is expected to launch The Exchange TRX in the second half of this year.

This will be followed by the launch of two of the six TRX Residences towers in the first half of 2018.

The Exchange TRX, which is scheduled for completion in 2020, has secured 25% of net lettable area (NLA) with tenants, including Japanese departmental store Seibu.

The TRX Residences, which will be completed in phases from 2021, will feature 40 to 57-storey towers offering a total of 2,400 apartment units.

Lendlease is the biggest joint venture partner to develop the TRX.

Meanwhile, other developers such as the Mulia Group of Indonesia has already started work.

It is developing a 92-storey (exclude basement levels) office block, named Signature Tower, in TRX.

As of end-March 2017, a total of 45 floors (from basement) of the Signature Tower has been built.

Azmar pointed out that Kuala Lumpur has not had any significant development since the development of the Kuala Lumpur City Centre (KLCC).

Just as the development of KLCC had elevated Kuala Lumpur’s profile when it was completed about 20 years ago, Azmar expected the development of TRX to provide a fresh impetus for the nation’s capital.

The entire 70-acre TRX comes with an average plot ratio of 6.8 times, although pockets of land in the development have received approval for as high as 15 times gross floor area.

While the average plot ratio of TRX is relatively low compared with other developments in the vicinity, Azmar stressed the project was more about quality than quantity.

TRX City has awarded RM1 billion worth of infrastructure jobs, including road improvements and tunnelling projects, to various contractors.

The remaining RM2 billion worth of infrastructure jobs would be awarded in phases to meet the project’s targeted completion in 2020.

Companies that own parcels of land in TRX included Affin Bank Bhd, which bought a 1.25-acre plot in 2015 for RM255 million, or RM4,699 per sq ft, with a plot ratio of 15.2 times; and Lembaga Tabung Haji, which acquired a 1.6-acre plot in the same year for RM188.5 million, or RM2,780 per sq ft, with a plot ratio of 10.47 times.

WCT Bhd has a deal with TRX City to settle part of the RM754.8mil worth of construction works in TRX with 1.7 acres of residential land valued at RM233 million.

 

News Source: The StarBiz, 3 April 2017

Jack Ma, founder and executive chairman of Alibaba Group, had first proposed the establishment of such a hub under the Electronic World Trade Platform (eWTP) for small businesses in June last year during the St Petersburg International Economic Forum in Russia.

“I laid out the vision for eWTP last year, and we as a company have taken on the responsibility to make this a reality. The first e-hub under the eWTP outside of China will go a long way towards making global trade more inclusive and provide much needed support to a hugely important constituent, that is, the small and medium enterprises (SMEs) and the younger generation,” said Ma in his opening speech at the launch of the Digital Free Trade Zone (DFTZ).

The goal of the eWTP initiative is to build a more inclusive, free and innovative global trading platform for SMEs, young people and consumers.

Alibaba’s facility will be part of the DFTZ, and is expected to be launched at the end of 2019.

“It will function as a centralised customs clearance, warehousing and fulfilment facility for Malaysia and the region to deliver faster clearance for imports and exports,” said Alibaba in a statement, although the e-commerce company declines to disclose the size of its investment in the hub.

Meanwhile, the DTFZ will provide physical and virtual zones to facilitate SMEs to capitalise on the convergence of exponential growth of the Internet economy and cross-border e-commerce activities and its implementation will be done in phases.

The first e-fulfillment hub will be centred at KLIA Aeropolis in Sepang.

According to Prime Minister Datuk Seri Najib Razak, the DTFZ has the potential to double the growth rate of Malaysian SMEs’ goods export and create 60,000 direct and indirect jobs by 2025.

“Malaysians have embraced the Internet economy and e-commerce in a big way. We are now leading the e-commerce market in the region, generating revenue of US$2.3 billion in 2015. With the launch of the world’s first DFTZ, Malaysia will serve as a regional e-fulfillment centre and also become the regional hub for SMEs, marketplaces and monobrands,” Najib said in his keynote address at the launch of the trade zone yesterday.

Alibaba Group will work together with Malaysia Digital Economic Corp (MDEC) in the development of the hub, which will see the introduction of Alibaba One Touch platform that will link Malaysia directly to Hangzhou’s cross-border e-commerce pilot zone to enable SMEs and businesses to trade conveniently and efficiently between the two countries.

Alibaba affiliate Ant Financial Services Group also signed a memorandum of understanding (MoU) with Malaysia’s top lenders Malayan Banking Bhd and CIMB Group Holdings Bhd to explore collaboration opportunities in e-payment and financing services.

The banks will allow Chinese tourists to use Alipay e-wallet services in Malaysia. Launched in 2004, Alipay currently has over 450 million active users.

Maybank said its strategic partnership with Ant Financial, which operates the world’s largest online and mobile payment platform Alipay, is to provide Alipay users travelling in Malaysia with contactless payment services which can be used in various outlets ranging from high-end department stores, duty free outlets to hotels popular with Chinese visitors.

Meanwhile CIMB Group said in a statement that it would act as the settlement and merchant acquirer bank, allowing Chinese visitors to pay for their transactions in yuan without concern about exchange rates. This is done through a simple barcode-scanning method that they are used to in their country.

CIMB Group chief executive Tengku Datuk Seri Zafrul Aziz said the entry of Alipay marked a notable milestone in the growth of mobile wallet payment services in Malaysia.

MDEC chief executive officer Datuk Yasmin Mahmood also shared that the first e-fulfillment hub will be centred at KLIA Aeropolis in Sepang. The initial phase will be rolled out before the end of 2017 by Alibaba, Cainiao Network, Lazada and Pos Malaysia, leading to the formal launch of Alibaba’s facility at the end of 2019, which has committed to take up 20 acres (approx. 8ha) in KLIA Aeropolis — a 27,700-acre planned integrated airport city development led by Malaysia Airports Holdings Bhd (MAHB).

MAHB inked a MoU with Cainiao Network, the logistics arm of e-commerce giant Alibaba Group to develop a regional e-commerce and logistics hub in the KLIA Aeropolis as part of the DFTZ.

Yasmin noted that some of the potential benefits with the DFTZ include the access to the China market that is expected to import US$10 trillion (RM44.2 trillion) over the next 10 years.

“With our strength in certain markets such as halal products and electronic goods, we will be able to tap into a larger market. Besides that, being a trans-shipment hub will also strongly benefit Malaysia. This is why we have estimated the US$65 billion incremental trades through the DFTZ, as well as the creation of 60,000 jobs,” she said.

The DFTZ will also see a satellite services hub, also known as the Kuala Lumpur Internet City (KLIC), to be developed in Bandar Malaysia. It will be developed by another strategic partner, Catcha Group, which will become the project master developer.

Catcha aims to house at least 1,000 Internet-related companies on a 5 million sq ft area built over 15 years with an estimated gross development value (GDV) of RM5 billion. It is intended to be one of the world’s largest purpose-built digital hub for global technology giants from China, the US and other major countries which are targeting South-East Asia as well as regional tech companies and local start-ups.