Thinkproperty Blog

Sime Darby Property Berhad has been selected as the inaugural recipient of Frost & Sullivan’s 2010 Malaysia Green Builder of the Year Award. The Award, introduced at a global level eight years ago are presented to companies that demonstrate best practices in their industry, commending the diligence, commitment, and innovative business strategies required to advance in the global marketplace.  

The shortlisted companies for the 2010 Frost & Sullivan excellence awards are evaluated on a variety of actual market performance indicators which include revenue growth, market share and growth in market share, leadership in product innovation, marketing strategy and business development strategy.  

The Frost & Sullivan’s 2010 Malaysia Green Builder of the Year Award was conferred to Sime Darby Property based on how it had innovatively and effectively implemented building construction methodologies and integrated its projects with existing surroundings and infrastructure. The Award also recognizes how Sime Darby Property has promoted community and environment sustainability in the design of building construction projects, its adoption of green concepts and environmental practices in its projects and the acceptance by end users.

Sunway City Berhad (SunCity) announced a revenue of RM283 million and profit before tax of RM87 million for the first quarter ending 31 March 2010 (FY2010).

A summary of key performance highlights and its comparison with the corresponding quarter last calendar year (3Q FY 2009) is provided below. The comparison is made with the 3Q FY 2009 due to the change in financial year in 2009.

Kuala Lumpur, May 20, 2010 - Tomorrow will mark a brand new partnership between the Accor Group a prestigious international hotel conglomerate and one of Malaysia’s up and coming property developers, the Mitraland Group.

Mitraland is proud to welcome Accor’s latest premium brand – the all seasons hotel which will be the final link in the C180, South Cheras lifestyle centre. C180 is the brainchild of Mitraland comprising 6 key components, namely; The Longitude, The Latitude, The Pulse, The Centerstage, The Gateway and The Nest. These components will synergize to bring to life South Cheras’ latest mixed commercial/residential hub.

The Accor Group (which also owns the Sofitel and Novotel brands) was represented by – Mr. Gerard Guillouet, Vice President of Accor Malaysia, Indonesia, Singapore while Dato’ Johan Ariffin (Chairman) and Mr. Chuah Theong Yee (Managing Director) represented the Mitraland Group.

Dato’ Johan Ariffin said, “We are ecstatic the Accor Group has chosen C180 as the maiden Malaysian location for its latest brand. One of the main reasons why we decided on the Accor Group is their sterling reputation and unparalleled influence within the hotel community. We are 100% committed to this alliance and look forward to a mutually beneficial partnership.”

The all seasons promises a vastly different environment and creates a refreshing setting for its patrons. The hotel is committed to quality and to offering the best possible experience to all who walk through their doors. Together with the commercial, retail, office and residential elements of the 6 key components of C180, the all seasons hotel is set to transform life in South Cheras as we know it.

Astute Malaysians who have swiftly invested in the C180 project should soon see attractive returns on investment when Phase 1 is completed by the end of 2010. The sold out status for all three phases launched thus far with a GDV of RM282 million is evidence that C180 is much sought after as an investment grade freehold commercial property.

For more inquiries about C180, kindly log into http://www.c180.com.my or contact Ms. Carmen at 603-6204 0828/Ms. Ivy  at 603-9075 4868

Extract from Bernama (17/05/2010)

KUALA LUMPUR - Domestic Online Search Is Playing An Increasingly Key Role In The Property Market In Malaysia, According To A Figures Analysed By ThinkProperty.my, Malaysia’s Largest Property Website.

In terms of absolute numbers, there were more than ten times as many visitors from Malaysia to thinkproperty.my as there were in 2008.

Asim Qureshi, CEO of Think Media Sdn Bhd commented “These figures also show a very important trend, and that is one of Malaysians embracing technology and using the internet to find property.”

“One reason the figures are so staggering is the success of thinkproperty.my itself – in early 2008 we were a relatively small property portal while today we have significantly more listings than any other property website in Malaysia. However, we believe part of our growth is for more macro reasons – there is a strong movement towards Malaysians looking online for their real estate needs. In 2008 nearly all of our users were below the age of 35, but we’re now seeing a lot of older people looking for the properties online. Here at thinkproperty.my we can really feel Malaysia’s internet revolution taking place.”

PENANG, May 6, 2010 - Sunway City Berhad (SunCity) continues to fortify its reach and presence in Penang with the launch of Sunway Aspera, a development that comprises 76 units of 2-storey and 9 units of 3-storey terrace homes in a relaxing seaside environment in Sungai Batu, Penang. These terrace homes are uniquely designed where life's best is experienced to its fullest in both an indoor and outdoor environment. Ideally nestled near the sea, these modern homes boast a built-up that is fitted with separate wet and dry kitchens; a spacious master bedroom with a dedicated walk-in wardrobe and a private bay window. These meticulous design details make these terrace homes all the more endearing and ideal to call home. The estimated gross development value is RM47 million and pricing of the units starts from RM495,000 onwards. The lot sizes are 20’ x 60’ and 20’ x 65’ for 2-storey terrace houses and 22’ x 70 for 3-storey terrace houses. In short, Sunway Aspera will bring you back to how life was in Penang not too long ago – carefree, relaxing and unburdened from the hustle-bustle of today's busy life. Sunway Aspera follows the success of the Group’s well-received development, Sunway Bukit Gambier which comprises of 3-storey courtyard homes, 3-storey semi-detached homes and 3-storey bungalows in Bukit Gelugor, Penang.

An artist impression of the Sunway Aspera 3-storey terrace homes

SELANGOR, 8 MARCH 2010 – Sunway City Berhad (Sunway City) continued to stay true to its commitment towards innovation with its Sunway Platinum Success RM132 million Musharakah financing. This deal was listed by Islamic Finance Asia magazine as one of the ‘Top 10 Islamic Groundbreaker Deals of the Year for 2009’. The top 10 groundbreaking deals were selected from more than 40 submissions from all over the globe. The Sunway Platinum Success deal was arranged by Maybank Islamic and counselled by Albar & Partners. It utilized the Musharakah Mutanaqisah structure which is typically used for individual home financing. The deal was deemed as groundbreaking as it broke the traditional boundaries of a typical Musharakah Mutanaqisah partnership. The uniqueness of the deal was attributed to the fact that it did not utilize cash on the issuer’s side for refinancing. Instead, it revolved around the issuer’s ownership of the existing property. Proceeds from this RM132 million (US$38.56 million) deal were used to refinance the issuer’s existing term loans taken up to part-finance the construction of Monash University’s Malaysian campus. To this end, Sunway City owns the land while Platinum Success owns the building with assignment of rental proceeds from Monash University as securities.

Ms Tan Poh Chan, Chief Financial Officer of Sunway City Berhad, receiving the award at the Islamic Finance News 'Deals of the Year 2009' KL Awards Dinner.

Kuala Lumpur, 17 February, 2010 – Designed as a community enclave and located in the centre of a popular residential suburb and commercial centre in Petaling Jaya, SStwo Mall is set to bring new commerce opportunities and enhance the quality of life for residents of SS2. With a tagline “It’s almost home”, the developers promises a ‘mall that cares’ - made possible  through initiatives aimed at adding value to the vibrant community of SS2. Scheduled for opening in the third quarter of this year, the RM180 million project is developed by Asian Retail Mall Fund II (ARMF II) and is strategically located along SS2/72, Petaling Jaya.

Renowned for successful retail projects in Singapore such as Tiong Bahru Plaza, White Sands, Liang Court and Tampines 1, the Asian Retail Mall series of funds are real estate funds managed on behalf of institutional investors by Pramerica Real Estate Investors, the real estate investment management business of Prudential Financial, Inc. of the United States (“Pramerica Financial”).

In partnering with DTZ Nawawi Tie Leung Sdn. Bhd. (DTZ) - appointed as the mall’s exclusive leasing agents and centre management team, Sr. Adzman Shah, Deputy Managing Director of DTZ said, “This strategic collaboration brings together a collective experience spanning some 80 years in all aspects of retail, be it in the property and architectural design to  developing strong retail concepts to building the right tenant mix. What is even more exciting with SStwo Mall is us leveraging on ARMF’s expertise in creating a local family mall experience, emphasizing on all-round active and healthy living, in the midst of a thriving neighbourhood like SS2 - thus our proposition of a ‘mall that cares’.”

Spread across a nett lettable area of almost 470,000 square feet, and housing approximately 200 shops, the five storied SStwo Mall is also accessible via a new direct link from Jalan Harapan or the Damansara-Puchong highway. Targeted for families with children below the ages of 12 years, professionals, managers, executives and businessmen (PMEBs) and youths from neighbouring established education centres; 62% of the 427,000 residents currently living within 10 minutes drive time to SStwo Mall represent its immediate catchment according to a recent survey. The same survey by MIRP Consult puts the average household income, made up of mainly middle to upper income residents, at approximately RM9,060.