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Equine Capital Berhad Launches da:mén

Equine Capital Berhad has launched da:mén, a freehold mixed development project consisting of serviced apartments, shop offices and retail mall in the USJ area.

da:mén which means “the Gateway” in Mandarin, is located at the strategic intersection fronting Jalan Kewajipan and Jalan Subang Permai.

It is a joint development project between Revenue Concept Sdn Bhd as the land owner and Equine Park Country Resort Sdn Bhd, a wholly owned subsidiary of Equine Capital Berhad, as the developer.

Chairman of Equine Capital Berhad Datuk Seri Tengku Ahmad Shah Ibni Almarhum Sultan Salahuddin Abdul Aziz Shah said, “With the combination of the right team, concept, infrastructure and location, da:mén is on its way to become the hottest new mixed development in USJ.”


Khazanah and Temasek Team Up to Develop Projects Worth RM30bil

PETALING JAYA: Khazanah Nasional Bhd and Temasek Holdings have teamed up to develop RM30bil worth of real estate projects in Singapore and Iskandar Malaysia in Johor.

Two separate joint venture companies, the first called M+S Pte Ltd which is 60% owned by Khazanah and 40% by Temasek, will develop six parcels of land in Singapore into office, residential, hotel and retail buildings of up to 501,020 sq m worth RM27bil.

The second, a 50:50 joint venture called Pulau Indah Ventures Sdn Bhd, will build service apartments, a corporate training centre, and commercial, retail, residential and wellness-related development worth RM3bil over an area of 1.37 sq km.


KPS' Property Arm Set to be Profitable Despite Loss in First Quarter

SHAH ALAM: Kumpulan Perangsang Selangor Bhd (KPS) expects its property division, Kumpulan Hartanah Selangor Bhd, to be profitable again in the current financial year ending Dec 31, 2011 (FY11), boosted by some new and ongoing property launches.

Chairman Raja Idris Raja Kamarudin said the projects were that of a proposed plan to build a resort in Pulau Indah, Klang, a soon-to-be-launched mix-development project in Section 14, Petaling Jaya and a commercial project in Bandar Baru Salak Tinggi, Sepang.

“Our strategies now are to unlock and increase the value of the group's assets and minimise our liabilities. Saying this, we are hoping that our property arm will have a turnaround in FY11,” he told reporters yesterday after the group AGM.

Kumpulan Hartanah Selangor posted a net loss of RM48.05mil in the first quarter ended March 31, 2011 on the back of RM46.7mil revenue against a net profit of RM1.46mil and revenue of RM46.34mil a year ago.


Tune Hotels To Receive 2 Millionth Guest Soon

KUALA LUMPUR: Tune Hotels which first opened its doors in downtown Kuala Lumpur in 2007, will be welcoming its two-millionth guest soon.

To celebrate the achievement, Tune Hotels is throwing a special five-day promotion from Monday till Friday July 1.

Hotel rooms in Malaysia are on sale from as low as RM20 while those in Bali, Indonesia, are up for grabs from only Rp60.000 per night.


Tabung Haji Eyes More Property Investments

Lembaga Tabung Haji, a pilgrimage fund that manages some RM28 billion, plans to invest more in property to grow its recurring income base.

It wants properties to account for a quarter of its investments, from 15 per cent now. Its properties are mainly in Malaysia and Saudi Arabia.

Group managing director and chief executive officer Ismee Ismail said Tabung Haji already has properties in Mecca and Madina and is eyeing more in Jeddah, which are all in Saudi Arabia.

"In Jeddah, the projects can be owned by us or via joint ventures unlike in Mecca and Madina where we are not allowed to own property but allowed to lease," Ismee told Business Times recently on the sidelines of the GLC (government-linked companies) Open Day media briefing.


YTL Land Breathes New Life into 'Old' Townships

YTL Land & Development Bhd will continue to rejuvenate old thriving townships and create modern integrated developments to lure local and foreign investors.

The company has a strong track record in urban rejuvenation, having undertaken projects in areas where other developers had avoided in the past, such as Pantai Dalam, Puchong, Sungai Besi and Sentul in the Klang Valley.

YTL Land, which has a market capitalisation of about RM1.4 billion and known for conceptualising Bukit Bintang, has spent a few billion ringgit to transform these areas into sought-after locations today.

It started with Pantai Hillpark, a "kampung" area about a decade ago, building condominiums with Spanish design and using metal instead of wood for some of the roof trusses.


Phase 3 of Lake Fields to be Launched Soon

YTL Land & Development Bhd is launching phase three of its Lake Fields project in Sungei Besi soon and expects take-up to be overwhelming.

Called Grove, it comprises 102 units of three-storey semi-detached homes worth about RM220 million, or about RM2 million each.

YTL Land executive director Yeoh Seok Kian said it has received about 1,500 registrations for Grove, mostly repeat buyers and upgraders from matured neighbourhoods such as Desa Petaling, Taman Desa, Kuchai Lama and OUG.

"We expect Grove to replicate the success of our phase one and phase two launches at Lake Fields," he said.


Housing Loan Woes May Harm State Housing Industry, Says Abang Johari

KUCHING: The problem of housebuyers getting housing loans has become serious to the extent of affecting the state's housing industry, says State Housing and Urban Development Minister Datuk Amar Abang Johari Tun Openg.

He said one-third of the disposable income was needed to repay the loan but many applicants and housebuyers failed to comply with the condition.

Citing an example, he said, 100 of the 300 low-cost housebuyers in Sungai Tengah here had to reject the low-cost house offer as they failed to obtain bank loans.

"I don't have the statistics but the problem of housebuyers not getting bank loans is increasingly becoming serious," he told reporters after meeting officials from the Association of Banks in Malaysia.


Residential Properties Realistically Priced, Says MGPA

KUALA LUMPUR: Malaysia's residential properties are realistically priced compared with those in other regional markets and had prospects to appreciate further, said MGPA Asia Chief Executive Officer John Saunders.

MGPA is a private equity real estate investment advisory company focused on real estate investment in Asia and Europe.

Focusing on buying properties in prime locations, he said the "buy-fix-sell" property style was more economical as it was now difficult to obtain properties in prime locations.

The "buy-fix-sell" concept is undertaken when a prospective buyer acquires an underperforming and neglected building in a prime location and transforms it into an "A" grade property, hence enhancing its value, he told reporters here today after signing a RM1.2 billion syndicated term-loan facility.


Three-Day iProperty.com Expo Rakes in Sales Worth RM275

KUALA LUMPUR: The three-day iProperty.com Expo Luxury collection 2011 has raked in more than RM275 million worth of properties sold.

iProperty said Twin Pavilion Development Sdn Bhd has generated the highest amount of sales amounting to RM38 million, followed by Andaman Property Management Sdn Bhd (RM11 million); and SP Setia Bhd (RM5 million).

The expo also saw iProperty.com Malaysia launching Southeast Asia's first Android property search application which enables users to view real time properties on the market near their current location via Google Maps.

"With this latest addition, everyone now has the convenience of searching through over 255,500 properties that are either on sale or rent without any hassle, anywhere and at any time, all at the touch of their fingertips," said iProperty.com Group Chief Executive Officer Shaun Di Gregorio. - Bernama
 Shaun Di Gregorio , CEO of iProperty.com Group