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Tiya Residency offers properties in prime area

Extract from Borneo Post (26/1/2015)

KUCHING: Demand for property is ever increasing and with prime land getting scarce, Tiya Residency is offering a rare chance to own a property in a premium upmarket location.

The development is located just minutes from the Kelab Golf Kuching, the state library and the state mosque, making it a quiet as well as green neighborhood.

Tiya Resources Sdn Bhd (Tiya Resources) the official contractor and advisor to the project developer, Hamimah Binti Ahmad Dawi noted the 28-unit single and double storey semi detached houses are a low density development spread over circa four acres.

Ali Farookh Rizvi, managing director for Tiya Resources explained that, “The area is considered a ‘high end’ neighborhood with many VIPs and VVIPs staying nearby. It is a highly convenient location with areas such as Taman Sukma just a few minutes away.


Affordable housing to drive property sector

Extract from The Sun Daily (26/1/2015)

PETALING JAYA: All eyes will be on the affordable housing segment again this year, with residential properties priced around RM500,000, expected to drive the property market due to pent up demand.

Zerin Properties CEO Previndran Singhe (pix) said the residential segment will continue to drive the property market this year, especially products priced below RM500,000 due to pent up demand from first-time home buyers as well as well-priced high-end residential properties in well-connected locations by reputable developers, particularly in Greater KL, Penang and Iskandar Malaysia.

"This is backed by the fact that about 40% of the country's population are between the ages of 25 and 54, which is considered the house-buying age," he told SunBiz in an interview.

Based on a study by the Real Estate and Housing Developers' Association Malaysia (Rehda), residential property prices are expected to increase by 3% after the GST implementation, which Previndran feels is trivial, particularly for high-end properties.


PKNS, Raudhah City sign MOU to build township

Extract from Bernama (25/1/2015)

SHAH ALAM: Perbadanan Kemajuan Negeri Selangor (PKNS) today signed a memorandum of understanding (MOU) with Raudhah City Sdn Bhd to develop a township, with a gross development value of RM12.3 billion, in Taman Sains Selangor 2, Cyberjaya.

PKNS general manager, Azlan Md Alifiah, said the 215.8-hectare mixed development project, would be based on 'Islamic City' concept.

"The corporation is honoured to team up with developer, Raudhah City, to undertake the the urban 'Islamic City' development project, which is the first in the world," Azlan said after the ceremony to sign the MOU here today.

Azlan sign for MOU and Raudhah City was represented by its executive chairman, Datuk Sri Syed Zainal Abidin Syed Mohamed Tahir.


Rehda Youth champions green projects

Extract from The Star (24/1/2015)

In the race to find answers to lower the massive carbon footprint mankind has unleashed on Mother Nature, the building of sustainable and green projects may well be one of the turning points to help improve the situation.

Sustainable cities and projects need to be planned, designed and build with materials, designs and methods that will lower the carbon footprint rather than worsening it, and it is heartening to note that Malaysian developers, including the young Rehda Youth developers, are taking up the crusade to do their part for the environment.

The way the human habitats are being planned and build will have a bearing on the well-being of the environment and the community. Many benefits can be reaped if we have more proactive developers who take it upon themselves to plan and design projects that promote green way of living.

According to Rehda Environment Committee chairman Sam Tan, more developers are now adopting green standards in their projects and this is very encouraging for the property industry.


Retail REIT to continue outperform office REIT this year

Extract from Bernama (23/1/2015)

KUALA LUMPUR: Hong Leong Investment Bank (HLIB) expects retail real estate investment trust (REIT) to continue outperforming office REIT this year given the pricing power and higher rental income potential from positive rental revision.

HLIB, in a research note today, said strong rental revision for retail REITs would be underpinned by sustained consumption growth, albeit at a slower rate, in the country.

"While GST will be a dampener for retail REITs, we see no significant impact as the government has broadened the list of items in the zero-rated and exempt supplies," it said.

On office REIT, it said the supply glut for office space in Kuala Lumpur is far from over and upcoming mega projects will create further dent on the problem.


Emkay Group to launch 18 luxury villas in April

Extract from Business Times (23/1/2015)

KUALA LUMPUR: The Emkay Group is expected to launch 18 exclusive villas under the third phase of the Belum Rainforest Resort in April this year.

Its chief executive officer Ahmad Khalif Mustapha Kamal said the villas, dubbed as Belum Rainforest Villas, built on two hectares land would be priced in a range of RM10 million each.

“The villas with built-up ranging from 4,000 square feet to 5,000 square feet will be built upon a hill and rise above the lake’s edge, southern part of Banding Island.

“We would like to sell and manage it for companies and high-profile individuals to have place in Banding island,” he said after the launch of the Villa Tanjung Wan coffee table book by Raja Permaisuri Perak Tuanku Zara Salim here today.


Light Hotel eyes 70 per cent occupancy rate

Extract from Borneo Post (23/1/2015)

BUTTERWORTH: The Light Hotel (M) Sdn Bhd, the owner and operator of the Light Hotel in Seberang Jaya, expects an occupancy rate of 70 per cent this year.

General manager Azhar Mohammad said the target is achievable due to its strategic location on the mainland and being a niche player offering premier business class services.

“The Light is centrally located in Bandar Seberang Jaya and we expect to attract business travellers amid surrounding developments namely in Batu Kawan as well as expatriates working in Kulim,” he said.

Constructed three years ago at a cost of RM150 million, the hotel’s likely return on investment period is 10 years, he told reporters after its soft opening by Tourism and Culture Minister Datuk Seri Mohamed Nazri Aziz here yesterday.


Kimlun bags RM230m development contract

Extract from The Sun Daily (23/1/2015)

KUALA LUMPUR: Kimlun Corporation Bhd has secured a housing development contract worth RM230.7 million from Nusajaya Heights Sdn Bhd, a subsidiary of UEM Sunrise Bhd. Kimlun said its wholly-owned subsidiary, Kimlun Sdn Bhd, has accepted the letter of award for the construction of affordable apartments in Johor Bahru, Johor, from Nusajaya Heights.

"The construction work is expected to be completed by August 2017," it told Bursa Malaysia yesterday.

"The projects is expected to contribute positively to the earnings and net assets of Kimlun group, for the financial years during the contract period," it added.

iProperty.com Malaysia bags two awards

Extract from Bernama (21/1/2015)

KUALA LUMPUR: iProperty.com Malaysia Sdn Bhd has bagged the 'Property Magazine of the Year' award for its monthly property publication and 'Digital Media of the Year' award for its website on December 2014.

In a statement Wednesday, iProperty.com said this was the fifth year the property website has won recognition from advertising and marketing companies in Malaysia.

Its group managing director/chief executive officer, Georg Chmiel, said the awards signified that the website was the preferred source of property-related information that property buyers and investors turned to.

"As a company that strives on innovation, our commitment to deliver products and services that meet the requirements and demands of both of our consumers and customers in unwavering," Chmiel said.

China's Greenland Group buys 128 acres land from Iskandar Waterfront for RM2.4b

Extract from The Sun Daily (22/1/2015)

PETALING JAYA: Iskandar Waterfront City Bhd (IWC) was suspended yesterday after its shares climbed by 6.21% before a billion ringgit property deal with Shanghai State Government-owned Greenland Group was announced to the stock exchange.

IWC signed a joint-venture at the Greenland HQ in Shanghai at 11am yesterday but the only made the announced to Bursa Malaysia at about 2.30pm.

IWC's shares surged by 10% from RM1.40 to RM1.54 in 60 minutes from 11am yesterday, the same time.

Trading in the company's stock was halted at 4.08pm where its shares had already gained 9 sen at RM1.54 from its opening day price of RM1.45.