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Fettes Condominium Units 70% Sold Out

Extract from The Star (15/07/10)

PALMEX Industries Sdn Bhd, a subsidiary of IOI Properties, will showcase its signature Fettes Residences Condominium at the upcoming Star Property Fair 2010.

Its general manager Ang Hooi Eow said special promotion packages would be offered to potential purchasers during the event.

He said to date, close to 70% of the units priced from RM860,000, had been sold out.

“The project is expected to be completed in the first quarter of 2011 with certificates of fitness expected in the second quarter,” he said.

The 35-storey block on freehold land consists of 195 units of luxurious condominiums, with built-up areas ranging from 2,000sq ft for a typical unit up to 4,100sq ft for penthouses.
Exterior view of the Fettes Residences in Tanjung Tokong, Penang, which towers over the suburban skyline. The luxury condo project is by Palmex Industries Sdn Bhd.

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Call For Review Of Kg Baru Land Restriction


Extract from The Star (15/07/10)

KUALA LUMPUR: There is a need to change the law on land ownership restriction in Kampung Baru to allow non-Malays rent or occupy properties there.

Real estate consultancy Rahim & Co Chartered Surveyors Sdn Bhd executive chairman Datuk Abdul Rahim Rahman said since it was gazetted as a Malay Agriculture Settlement (MAS) reserve on Jan 12, 1900, land or properties built in Kampung Baru could only be occupied or sold to Malays.

He said the law not only restricted the sale of properties to non-Malays but also disallowed them from renting or occupying the premises there.

“This has made Kampung Baru hard to develop as the market is restricted. The other shortcomings are the small size of the lots, averaging 10,000 sq ft each, and the multi-ownership of the lots.

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Quality And With Attractive Perks

Extract from The Star (14/07/10)

THE Belleview Group is set to unveil new goodies for prospective house buyers at the Star Property Fair 2010 from July 23 to July 25, which include attractive home-ownership packages.

With low down payments and end financing rates amongst other perks, it offers great savings for those seeking to buy that dream home or make a sound investment on excellent properties from a renowned developer.

According to the group’s marketing communications manager Christina Tan, the new scheme would replace the previous Belleview Home Plan, which attracted over RM300 million in sales during a one-year period which ended last month.

Among the properties to be showcased is the All Seasons Park condominium in Air Itam, which has received tremendous response thus far.
Impressive towers: Artist's impression of the All Seasons Park by Belleview Group.

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Towering, Low Density Super Condominiums

Extract from The Star (14/07/10)

1 TANJONG, a super condominium project in Tanjung Bungah, will be Lone Pine Group of Companies’ prime offering at the upcoming Star Property Fair 2010 in Penang.

Its general manager (marketing and corporate affairs) Mabel Ooi said potential house-buyers could register their interest in the project at the fair.

She said the project would be launched next month and was expected to be completed in the third quarter of 2013.

“The scheme consists of two iconic, 41-storey tower blocks with a total of 147 freehold units,” she said of the development at the former Tanjung Country Club site.
In the works: Artist's impression of 1 Tanjong.

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Residents Unconvinced Despite Developer’s Assurance

Extract from The Star (15/07/10)

LAND clearing at a foothill, atop which sits the Venice Hill condominium, has residents worried for their safety.

Residents of both the condominium and the nearby Taman Mudun are speaking out against the upcoming project to build a retaining wall and for 76 town villas.

Recently, more than 30 residents’ associations in the area came together to protest against the developer bulldozing a narrow strip of trees on the hill to make way for the project.

The residents said that before the land clearing was carried out, only Tower 4 which was constructed on a steep slope looked in danger but now blocks 5, 7 and 8 were also sitting at the edge of the hill.
Worried: Venice Hill Management Corporation Sdn Bhd director Philip Tan (right) pointing at the hill clearing. Blocks 4, 5, 7, and 8 stand at the edge of the hill. With Tan are other residents of Venice Hill and surrounding areas.

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Damansara Realty Defers Revamp Plan


Extract from The Star (15/07/10)

PETALING JAYA: Damansara Realty Bhd is deferring its application to the relevant authorities for the proposed corporate restructuring pending certain issues to be resolved by it and Johor Corp.

MIDF Amanah Investment Bank Bhd said in an announcement on behalf of Damansara Realty’s board that this pertained to the assets to be acquired by the latter.

“The company will make the appropriate announcement upon the submission of the applications to the relevant authorities for the proposed corporate restructuring in due course,” the investment bank said.

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H2 Hotel Occupancy In Penang Expected To Rise


Extract from The Star (15/07/10)

GEORGE TOWN: The hotel industry in Penang is expected to register a higher occupancy rate of about 70% in the second half of 2010, compared with about 65% in the corresponding period of 2009.

The anticipated increase in the occupancy rate is due to the diversion of tourists to Penang and Langkawi from Thailand, said Malaysia Association of Hotels (Penang chapter) chairman Marco Battistotti.

“We expect an additional 6,000 to 7,000 room nights in the second half, based on feedback we received from tour operators in the region,” he told StarBiz.

Battistotti added that the local hotel industry was also expecting tourists from the Middle-East to return to Penang after Ramadan, as there would still be holidays for a couple more weeks.

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BDRB, MPHB In Property Ventures


Extract from The Edge (13/07/10)

KUALA LUMPUR: Bandar Raya Development Bhd is teaming up with MULTI-PURPOSE HOLDINGS BHD (MPHB) to develop several parcels of land owned by MPHB in Penang and Selangor.

BDRB said on Tuesday, July 13 it had inked the MoUs with MPHB to work together and develop several parcels of land in Penang measuring about 80 acres, Rawang (266.7 acres) and Gombak (324 acres) which are owned by MPHB.

BRDB has six months from the date of the MoUs or such longer period as the parties shall mutually agree upon to conduct a feasibility study on all the proposed projects.

"The signing of the MOUs is in line with the BRDB group’s business strategy of enlarging its development land banks via joint venture to improve profitability and shareholder value," it said.

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Hua Yang Aims To Be Top Developer For Affordable Homes


Extract from Bernama (14/07/10)

KUALA LUMPUR -- Having carved a niche for itself in the affordable homes segment, Hua Yang Bhd, is seeking to become one of the top developers in Malaysia.

Its Chief Operating Officer (COO) Ho Wen Yan said Hua Yang would continue to focus on affordable housing for the middle-income segment.

"Over the past 30 years, we have strives to build a reputation for providing affordable public housing, delivered with quality and a concern for the built environment.

"Having grown from strength to strength, we aspire now to be the developer of choice," he told Bernama in an interview.

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PKNS Launches Sale Of Apartments In Shah Alam


Extract from Bernama (14/07/10)

SHAH ALAM -- The Selangor State Development Corporation (PKNS) has launched the sale of 300 units of medium cost apartments in Section 7, Shah Alam.

The apartment project, Kristal Heights, has a floor area from 1,003 sq ft with a minimum price of RM245,200.

It is strategically located and buyers can move in by year-end, PKNS said in a statement Wednesday.

PKNS Public Relations Manager Mohd. Wazir Abdul Gani said Kristal Heights is an affordable project with good returns for buyers.

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