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Putting on the Ritz in condominiums

Extract from The Star (20/8/2016)

In a video promoting the Ritz-Carlton services, the American brand promises to “stop time for generations to come, to move heaven and earth, and move it back.”

That’s the standard of service they will be offering when the 288 units of Ritz-Carlton Residences Kuala Lumpur are completed next March.

Its local partner is Berjaya Corp Bhd (BCorp). Both will be working together to sell Kuala Lumpur as a location and a destination.

As a sign of the challenge ahead of them and if this is any indication, the number of Ritz-Carlton Residences in Cairnshill, Singapore up for sale or for rent – there are only 58 units incidentally – is surprising.

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Developers up the tempo

Extract from The Star (20/8/2016)

More incentives to encourage house buyers

There are several aspects to what determines prices of properties. Location is paramount. There is no dispute to that.

Sentiment matters and incentives provided by developers play a huge role.

Of late property developers have been thinking up ways to energise sales irrespective of the current challenging situation, which IJM Corp Bhd’s managing director and chief executive Datuk Soam Heng Choon can testify to.

“Global financial sentiments matter as much as national issues,” he said.

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Sharing the house of love

Extract from The Star (20/8/2016)

“Will you buy a house with me?”

That’s not your typical pick-up line, but seriously, this is a common marriage proposal by young Singaporean men to the love of their lives.

The positive answer to this question is “I do” and then to wake up early the next day, first, to make a trip to the Registrar of Marriage, and then to the Housing Development Board for a chance to own a dream house to start a family to fulfil the simple prophecy of life.

As we march towards developed nation status as a country, owning a house is increasingly difficult. House prices are disproportionate to the income that we are earning. A feature of any developed economy in terms of housing is either to rent or government-subsidised housing for the middle-income masses. Private housing ownership is either for the affluent or through inheritance.

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Ritz-Carlton eyes affluent market for residences

Extract from The Sun Daily (19/8/2016)

KUALA LUMPUR: The Ritz-Carlton Hotel Company, which is opening its first Ritz-Carlton Residences in Malaysia, is confident of achieving good response from the affluent market despite the soft property market and weak consumer sentiment.

Vice-president of global residential operations John Hearns said he is not concerned about market conditions as the project is targeted at the affluent market who are looking for an exclusive address as there are only 288 units available.

“We view the branded residential business as an exclusive address. So, I don’t believe there’s significant competition for our project. All we’re looking for is 288 people who want to call the Ritz-Carlton Residences Kuala Lumpur their home.

“I believe that if the market is not be robust, I’m not concerned about that because I’m very confident that there are 288 members of the global affluent tribe that want to call the Ritz-Carlton Residences Kuala Lumpur in Malaysia their home,” he told reporters at a briefing yesterday.

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IJM Land, Allianz Malaysia roll out HomeTIPS insurance schemes for homebuyers

Extract from The Edge (19/8/2016)

KUALA LUMPUR: IJM Land Bhd have partnered Allianz Life Insurance Bhd and Allianz General Insurance Company Bhd to introduce HomeTIPS, or the Home Triple Insurance Protection Schemes, for IJM Land homebuyers.

The collaboration enables Allianz Life Insurance and Allianz General Insurance Co to underwrite three insurance schemes for IJM Land homebuyers for 36 months from the date of signing of the sales and purchase (S&P) agreement, at no additional cost, said IJM Land’s managing director Edward Chong.

IJM Land said it is the first scheme of its kind to be offered by a property developer in Malaysia.

“At IJM Land we believe in building not just homes, but relationships. We want our homebuyers to be confident in the fact that should something untoward happens, IJM Land is able to help secure the roof over their heads with these unique insurance schemes underwritten by Allianz,” he told the media at the unveiling of HomeTIPS today.

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Matrix Concepts sees double digit growth

Extract from The Star (19/8/2016)

SEREMBAN: Property developer Matrix Concepts Holdings Bhd, which registered a sterling performance in its last financial year, expects to chalk double digit growth for the current year despite weak sentiment in the sector.

The Seremban-based developer, which registered a revenue of RM912.2mil and a net profit of RM260.9mil for a 15-month period ending March 31, 2016, is confident that sales of its properties at Bandar Seri Sendayan here and in the Bandar Seri Impian project in Kluang would continue to remain robust despite the expected slowdown.

Group chairman Datuk Mohamad Haslah Mohamad Amin said the listed entity plans to launch new projects with a gross development value (GDV) of between RM900mil and RM1bil for the current financial year.

“Due to the not-so-good outlook, we will focus on affordable housing and increase launches of commercial properties to serve our expanding township population,” he told reporters after the company’s AGM.

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Suria Capital downgraded

Extract from The Star (18/8/2016)

PETALING JAYA: Alliance DBS Research has downgraded Suria Capital Holdings Bhd (SuriaCap) to “hold” from “buy” in view of the challenging environment for its port and property businesses.

The research house said it was taking a more cautious stance on the stock as it did not foresee “near term-catalysts” for the group.

It also lowered its target price to RM2.15 based on revalued net asset value (RNAV) valuation.

It said its cautious stance was mainly because the group’s core port business may be adversely impacted by lower commodity exports, and the challenging prospects for its upcoming property launches.

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MRCB expects Sentral Suites to contribute 20% to 30% to sales

Extract from The Star (17/8/2016)

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) expects its Sentral Suites project, with a gross development value of RM1.5 billion, to contribute 20 per cent to 30 per cent to sales over a period of four-and-a-half years.

The property developer aims to achieve the target via a partnership with  Asia's leading property portal, PropertyGuru, to develop an exclusive digital campaign for the marketing and promotion of Sentral Suites.

MRCB Chief Operating Officer, Kwan Joon Hoe, said the partnership was the first of its kind in the country which involves the setting up of a comprehensive digital marketing campaign.

"Trends and culture of searching have changed over time, and for the property market, we intend to shift that traditional perception of we acquire property.

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iProperty: Growing demand for larger properties with 3 bedrooms or more

Extract from Bernama (15/8/2016)

KUALA LUMPUR: There is a growing demand for larger properties with three bedrooms or more in Malaysia, says The iProperty Group, owner/operator of property website, iProperty.com.

In a statement here today, iProperty.com said, its data revealed that the houses in the country were getting larger.

"The data, collected and tabulated by iPropertyIQ, revealed that people are now living in homes that are about 67 per cent larger than it used to be 15 years ago," it said.

Chief Executive Officer, Georg Chmiel, said with the data, real estate professionals were able to discover new insights, predict outcomes in real time, and develop developments that caters to the needs of property buyers.

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Zecon’s unit enters HoA to build PR1MA homes in Kuching

Extract from Borneo Post (16/8/2016)

KUALA LUMPUR: Zecon Bhd’s unit, Zecon Land Sdn Bhd, has entered into a heads of agreement (HoA) with PR1MA Development Sdn Bhd, on the construction of a housing project in Kuching, Sarawak.

In a filing to Bursa Malaysia, the engineering and construction company said the HoA sets out key terms and detailed parameters for the proposed development of PR1MA homes on a 22.18-hectare site in the Salak Land District, Kuching.

“The execution of the ‘definitive agreement’ is conditional upon fulfillment of the conditions precedent and obligations as set out in the agreement to be fulfilled by Zecon Land within three months from the date of the HoA,” it said.

PR1MA Development is a wholly-owned subsidiary of PR1MA Corporation Malaysia. — Bernama