AFFORDABLE: Sungai Ara / Hunza Group

August 27th, 2016 1 comment

affordable-sungai-ara-hunza

A newly proposed affordable housing by Hunza’s wholly-owned unit, Diamaward (M) Sdn Bhd, at Sungai Ara. It is located next to Taman Sungai Ara, about 1.5km away from SJK(C) Chong Cheng.

This development comprises three 49-storey towers offering a total 1,390 affordable units:

BLOCK A

  • Tower A1 – 426 affordable units
  • Tower A2 – 426 affordable units
  • 12-level car park

BLOCK B

  • Tower B – 538 affordable units
  • 6-level car park

This project is still pending for approval. Details to be available upon project launch.

READ MORE ABOUT AFFORDABLE HOUSING:

Property Project : (to be confirmed)
Location : Sungai Ara, Penang
Property Type : Affordable Housing
Built-up Area: (to be confirmed)
Total Units: 1,390
Indicative Price: (to be confirmed)
Developer: Diamaward (M) Sdn. Bhd. (Hunza Group)

Register your interest here

Location Map:

 

Reclamation works for WorldCity project delayed to 2017

August 26th, 2016 5 comments

ivory-worldcityThe commencement of land reclamation works for the RM10 billion Penang WorldCity project in Bayan Mutiara is expected to begin only in the middle of next year.

The project is undertaken by Tropicana Ivory Sdn Bhd, a 55:45 joint venture between Tropicana Corp Bhd and Ivory Properties Group Bhd. Tropicana Ivory, according to a news report last year, had hoped to begin the reclamation works in the second quarter of 2016.

Ivory Properties chief operating officer Goh Chin Heng, however, said today there is a delay due to some technical issues, which have now been more or less settled.

“We are now waiting for approval from the state authorities, and we hope to get all the approvals in a matter of three to six months’ time,” said Goh.

“We will then proceed with another round of tenders to appoint the reclamation contractors. We will invite both local and foreign contractors for this.

“We estimate to kick off the reclamation works by mid-next year,” he told reporters after Ivory Properties’ annual general meeting.

The total size of the land area for the project is 126 acres, of which 65 acres is existing land and the remaining balance of 61 acres is to be reclaimed.

“We expect to start reclaiming 20 to 30 acres of land first. The whole reclamation process is expected to take three to five years to complete.

“The estimated cost for the reclamation [of the 61 acres of land] is about RM200 million, but this may vary from time to time” said Goh.

This would mark the first land reclamation exercise for the Penang-based property developer.

As for its existing 65 acres of land, the group has earmarked projects with a gross development value (GDV) of RM5 billion to RM6 billion within the next five years.

So far the group has utilised about 20% of its existing land for Phase 1 of Penang WorldCity’s development comprising luxury residential condominium towers, Tropicana Bay Residences, which has a recorded GDV of RM933 million.

“So far the take up rate since the launch of Tropicana Bay three years ago is around 90%,” said Goh.

The group also intends to complete its RM321 million The City Residence project in Tanjung Tokong by the end of the year.

As for its Penang Times Square project, the group intends to complete phase three (comprising residential suites The Wave) and phase four (comprising The Central Hotel) by 2020.

Both phases have a combined total GDV of RM970 million.

On the group’s upcoming projects, Goh said the next focus is a proposed mixed development project on a six-acre land in the tourist belt of Batu Feringghi, which will kick off in mid-2017 with a GDV of about RM300 million.

Ivory Properties will also be making its mark out of Penang through a joint-venture project in Kuala Lumpur.

The group had in June penned an agreement with LLK Properties Sdn Bhd to develop the project, which will be a mixed development on approximately 1.8 acres of land located close to the Sungai Besi area with an estimated GDV of RM220 million.

“We are still finalising the pricing for the KL project. It will not be on the higher end but neither would it be affordable homes. But the pricing would be what’s affordable for the KL market,” said Goh.

According to the group’s filing to Bursa Malaysia on June 17, LLK will be entitled to 27% of the fixed value, i.e. the total value of all units of the development.

Source: TheEdgeProperty.com.my

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The View Above KOMTAR

August 25th, 2016 4 comments

We bring you an exclusive video on the tallest building in Penang – KOMTAR

Some of you may not be aware that KOMTAR has grown taller by 3 levels! The recently refurbished tower now sports new floors with a large viewing deck, glasshouse structures encircled by trees and most striking of all, the rainbow color bands ending in a symbolic pot of gold.

The viewing deck at 68th floor is one of the upcoming attractions at KOMTAR called ‘Rainbow Skywalk’ – Breathe in the fresh air and enjoy the island’s breeze from The Top. The Open Deck will leave you amazed with a spectacular view and experience without windows. Be amongst the clouds and the rainbows!

Categories: Property News, Video Posts Tags: ,

Luminari targets the homebuyer market

August 25th, 2016 5 comments

PJD_Luminari_16_AerialView

Despite the slow property market, OSK Property Holdings Bhd believes there is still demand for properties targeted at end users. And the homebuyer market is what is it aiming at with Luminari, a serviced apartment project launched recently at its Harbour Place township in Butterworth, Penang.

CEO Ong Ghee Bin says the township is located near the Butterworth ferry terminal and a stone’s throw from the upcoming Penang Sentral, an integrated transport hub that will feature commercial and retail facilities, cinemas, multi-storey car parks and a hotel. The hub will be directly linked to the electric train service, bus terminal and ferry terminal.

The accessibility of the township — which also links to the Butterworth Outer Ring Road and Jalan Bagan Luar — has sparked demand for serviced apartments there among potential buyer-occupiers.

“Many people don’t mind staying in Butterworth because it is so much cheaper than [staying] on the island yet you can go to work there using the ferry,” Ong tells City & Country. “Luminari caters to families and we have incorporated 77,000 sq ft of communal space to put in facilities for people of all ages.”

Launched in end-July, the project offers 462 serviced apartments and seven retail units on a 3.5-acre parcel. Scheduled for completion in 2020, it has a gross development value of RM264 million.

“The retail units face outside to allow non-residents to patronise the shops without going into the development,” Ong says.

The serviced apartments come in four types with built-ups from 947 to 1,335 sq ft, in 2+1 or 3-bedroom configurations. The selling price ranges from RM486,800 to RM708,800, or an average of RM530 psf. About 20% of the units have been taken up.

The retail units, meanwhile, measure 517 to 1,141 sq ft and are priced from RM293,000 to RM561,800 or RM526 psf. All have been taken up.

The 77,000 sq ft communal space will feature 32 facilities grouped into six zones: The Oasis, The Promenade, The Playpen, The Centrestage, The Enclave and The Sanctuary.

The Oasis will have a 50-metre lap pool, wading pool, cabana deck, a Jacuzzi, sunken seats and sun deck, while The Promenade will boast a sculpture garden and pavilion square. Facilities at The Playpen include a playground, tree house and swing shelter.

The Centrestage, meanwhile, offers areas for sports activities such as a gymnasium, putting green, badminton courts and aqua gym. The Enclave features a barbecue area, karaoke lounge and multifunction room, while The Sanctuary will have a sky lounge, reading room and hammock garden.

Nearby amenities include hypermarkets (Econsave and Giant), educational institutions (SK Convent Butterworth), healthcare centres (Bagan Specialist Centre and Hospital Seberang Jaya) and hotels (Pearl View Hotel and Hotel Palm’s Inn).

Harbour Place is a 27-acre mixed-use township launched 15 years ago by OSK Property subsidiary PJD Eastern Land Sdn Bhd. Four phases have since been completed and handed over and the fifth phase, Woodsbury Suites, will be handed over early next year.

Woodsbury Suites comprises 420 serviced apartments in two blocks, with built-ups ranging from 550 to 2,270 sq ft in studio, 1+1, and 1, 2 and 3-bedroom configurations. The 40-storey Tower A is the tallest building in Butterworth while Tower B has 38 levels. Ong says only a few bumiputera units remain.

Luminari is the sixth phase in the township, with four more to go and Ong says future developments there will be depend on market needs.

OSK Holding Bhd last year restructured its businesses under property, construction, hospitality, manufacturing and financial services and timeshare. OSK Property and PJ Development Holdings Bhd were merged into one entity with a single identity and brand, called OSK Property. Ong was appointed last July to oversee the property arm.

On the current property market, Ong says the market is soft and will remain so for the next 12 months. “I don’t think we will turn around so fast and it will probably will take some time for the market to come back. In order to sell, new projects now should focus on owner-occupiers.”

Luminari will be OSK Property’s final launch this year. It had earlier launched Phase 2 of Windmill Upon Hills in Genting Highlands and TimurBay Seafront Residence in Balok Beach near Kuantan.

“This year, we put to the market Phase 2 of Windmill Upon Hills, TimurBay Seafront Residence and some small phases in Sungai Petani,” Ong says. “For Windmill Upon Hills, we are now seeing overall converted sales of about 60%, and sales are still coming in. We expect the number to touch 70% by year end. Timurbay Seafront Residence was launched at almost the same time as Luminari and is now about 25% taken up.”

OSK Property is now working to get approvals for a development in Seremban that will offer properties in the affordable range and is targeting to launch it by the first quarter next year.

Source: TheEdgeProperty.com.my

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Aspen and TM to collaborate on Smart City developments

August 25th, 2016 No comments

ARY_2565Telekom Malaysia Berhad (TM) and Aspen Vision All Sdn Bhd (AVA), a subsidiary company of Aspen Group today inked a Collaboration Agreement to facilitate the deployment of Smart Services, converged telecommunications as well as information and communication technology (ICT) services for the Aspen Vision City development in Batu Kawan, Penang.

This agreement is the first collaborative agreement between TM and Aspen Group to enable Aspen Vision City to become a progressive business model for Smart City Services in the real estate development segment. This business model will be replicated to more property developments enabled by TM in the future.

Giorgio Migliarina, Chief Technology and Innovation Officer, TM and Wan Ahmad Kamal Wan Halim, Executive Vice President, Enterprise Sales, TM signed the Collaboration Agreement on behalf of TM while Aspen Group was represented by Dato’ M. Murly, Group Chief Executive Officer, Aspen Group and Oh Kim Sun, Director of Aspen Group. Present to witness the signing ceremony were Tan Sri Zamzamzairani Mohd Isa, Group Chief Executive Officer, TM and Dato’ Seri Nazir Ariff, Group Chairman & Executive Director, Aspen Group.

Commenting on the latest collaboration, Giorgio Migliarina said, “We are pleased and excited that Aspen Group has entrusted us with the deployment of a comprehensive Smart City services ecosystem for their development projects. We recognise the growth of the Real Estate vertical segment as well as the increasing need for Smart Services so this collaboration provides the opportunity to demonstrate our capabilities and expertise in the development of Smart City Services. With the availability of telecommunications and connectivity services, as well as ICT and Internet of Things (IoT) solutions integrated into local property developments and townships, we will be able to deliver an enhanced digital lifestyle to more Malaysians. At TM, we constantly look for ways to bring more innovations to further improve our customer experience through TM’s integrated Business Solutions, true to our promise, “Life and Business Made Easier”.”

“In line with digitalisation, this strategic collaboration will synergise the strength of both companies in offering integrated solutions and services that are uniquely designed for consumers and businesses. As Malaysia’s Convergence Champion, TM will continue to explore more opportunities to work with other strategic partners in delivering this smart city ecosystem,” reiterate Giorgio.

Meanwhile, commenting on this agreement, Dato’ M. Murly said, “We have been sharing with TM our ideologies and aspirations. I am exhilarated that both parties will be collaborating closely in our effort to infuse intelligence and innovation into every fibre of Aspen Vision City. It is our shared goal to transform Aspen Vision City into the first Smart City in the northern region of Malaysia. And beyond that, into the most advanced urbanisation development in the country, in terms of infrastructure and IOT.”

“Our vision, since the beginning is to transform and enrich the lives of the people we are building for. And today, this vision becomes a reality. With this milestone collaboration between Aspen Group and TM, we will continue to make this a reality in every Aspen Group project,” added Dato’ Murly.

Under this agreement, TM will be collaborating with Aspen Group to offer various smart solutions and services to the residents of Aspen Vision City. These include security surveillance solutions, car sharing, digital signage, smart parking, energy, waste management and many more, in line with TM’s aspiration of “Life and Business Made Easier” for real estate developers, property owners, local councils, as well as the local community through its integrated Business Solutions.

Aspen Vision City is a long term development project undertaken by Aspen Group and Ikano Pte Ltd with aspirations to become a smart metropolis providing sustainable, comfortable and luxurious living for the community. Spanning across 245 acres in the heart of Batu Kawan, it is strategically located right at the landing point of the Second Penang Bridge and poised to emerge as a leading integrated and sustainable city in the Northern Region. Masterfully planned to be a thriving metropolis, Aspen Vision City is the home to the first IKEA Store and a regional integrated shopping centre, both managed by Ikano Pte Ltd. Among other key components include a Columbia Asia Hospital, a gated and guarded commercial enclave, residential and mixed developments, exclusive landed property, financial hub, a 4-star business hotel, an international school and a 25-acre central park in the midst of this vision city.

“Beyond all these physical components, we are also infusing intelligence through smart solutions and innovative services. With all these smart lifestyle conveniences, Aspen Vision City will become an attractive business location for international organisations and companies, an important centre for innovation in smart technologies, wellness, and a destination for smart business solutions in the region. With all these in place, it is expected to bring in multi-billion ringgit investments, create thousands of quality job opportunities and further strengthen the region’s economy, employment and international competitive edge,” added Dato’ Murly.

Apart from the converged telecommunications, ICT and Smart Services, both parties will further explore the creation of an Aspen Vision City portal or interactive channel using TM’s available platforms. In addition, a TM One-Stop Centre will be established in Aspen Vision City as the point of contact for all business telecommunications, ICT and BPO requirements, and other Smart Services as agreed by both parties.

 

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