Olive Tree Terrace Shops, part of the upcoming mixed development by Harta Intan. Located along Jalan Mahsuri in Bayan Baru, Penang. This commercial parcel comprises 10 units of 3-storey shop houses.
Property Project : Olive Tree
Location : Bayan Baru, Penang
Property Type : 3-storey Shop Offices
Units: 10
Land Tenure: Freehold
Developer : Harta Intan Group
Contact No.: 04-228 2163
THE public can give their input on how to rejuvenate George Town in a survey to be carried out for the setting up of Asia’s first Business Improvement Districts (BIDS).
George Town Grants Programme director Dr Neil Khor (pic) said the George Town BIDS project was a public-private partnership where businesses work together with the local council to enhance existing local council services, ensure security and improve cleanliness in the BIDS area.
It brings together the main businesses around Kompleks Tun Abdul Razak (Komtar) including the Penang Development Corporation, Ivory Properties and Gama Departmental Store.
“The group also has the support from the Prangin Mall joint management body and Traders Hotel,” he said.
The survey will be held at Level Three, Komtar, this Friday and at the Komtar Walk on Saturday, from 10am to 6pm on both days.
Dr Khor said there were plans to turn Komtar and the Datuk Keramat area into a shopping district connecting all the shopping malls there with sidewalks being built.
“It will become a shopping district within walking distance from one mall to another, just like the Shibuya district in Tokyo,” he said during a press conference by state Local Government and Traffic Management Committee chairman Chow Kon Yeow at his office yesterday.
Chow said if successful, the George Town BIDS would be the first in Asia.
Other examples include the New York Times Square and London’s South Bank.
“Komtar and its surrounding areas have a lot of potential and this must not go to waste, hence, the BIDS project,” he said, adding that all ideas and input to make the place more appealing are welcome.
SOURCE: The Star
BM Highland, an exclusive lush 16 acre freehold neighbourhood offering 15 bungalows, 46 semi-detached, 45 3-storey terrace and 42 2-storey terrace house. This is a Gated & Guarded residential development within the established township of Machang Bubok, Bukit Mertajam.
2-Storey Terrace
3-Storey Terrace
2-Storey Semi-D
2-Storey Bungalow
HomeGuru.com.my country manager Steven Tan said there is a lot of interest among overseas investors to buy homes in Malaysia via the Malaysia My Second Home programme, especially in places like Sabah, Kuala Lumpur and Johor.
“As for Penang, the trend is different as many locals are snapping up properties there, mostly luxury condos,” Tan said in an interview with Business Times.
He added that another emerging trend in the Penang property market was that in recent months, there has been a lot of interest among Singapore investors to snap up heritage buildings on the island.
“You will be surprised that after Malaysians and Singaporeans, the third most visits we get for our website are the Europeans,”
he said.
On HomeGuru’s recently concluded survey, in which some 2,800 people were interviewed on the local property market, Tan said 63 per cent of the respondents felt that properties across the board in Malaysia were expensive.
The survey also revealed that 78 per cent of the respondents felt that bungalows were the most expensive type of property.
Tan added that some 18 per cent of the respondents also indicated that they were planning to invest overseas in the coming months.
HomeGuru is a Singapore company which has been in Malaysia for slightly under a year. Its 11-month-old website has about three
million visitors a month, Tan said, adding the Malaysian HomeGuru website has over 10,000 agents with more than 70,000 properties to buy and sell.
HomeGuru is the second most popular property portal in the country, but it holds pole position in three other countries,
namely Indonesia, Thailand and Singapore.
SOURCE: Business Times
Mah Sing Group Bhd has surpassed its 2011 full year sales target of RM2 billion by achieving RM2.04 billion sales as at Nov 15, 2011.
The property developer also has very strong earnings visibility with unbilled sales of RM2.14 billion as at Sept 30, 2011.
"This is more than two times the revenue we recognised from property development for the whole financial year 2010," Group Managing Director/Group Chief Executive Tan Sri Leong Hoy Kum said in a statement today.
"We have met and exceeded market expectations on both sales and financial performance, and we shall continue to outperform market expectations by riding on our strong branding, good concepts and design as well as right products," he said.
For first nine months of 2011, the group recorded a 42 per cent increase in revenue to RM1.1 billion and a 47 per cent jump in net profit to RM127.5 million.
For the third quarter, its revenue rose 48 per cent to RM420.7 million while net profit grew 46 per cent to RM43.2 million.
Revenue and profit for the financial period are attributable to property development activities carried out in Kuala Lumpur, Klang Valley, Penang Island and Johor Baharu.
The strong sales achieved and timely execution provide steady cashflow and liquidity to the group’s balance sheets which remain healthy with net gearing ratio at 0.38 times as at Sept 30, 2011.
"Our net gearing has gone up from 0.21 times as at June 30, 2011 as our construction works are moving full swing in tandem with our strong sales," Leong said.
With its cash pile of close to RM600 million and the management’s target to maintain an optimal gearing level of 0.5 times, the group has a healthy warchest which will allow it to continue acquiring prime land or joint ventures for its aggressive expansion strategy.
With 36 projects in its portfolio, the group's unbilled locked in sales and remaining gross development value (GDV) is estimated at more than RM15 billion which should last the group five to seven years.
As for next year, the group’s launch pipeline in 2012 will include several projects offering residential and commercial properties in the range of RM500,000 onwards.
This would include new phases in existing projects like Icon City (Petaling Jaya), M City (Jalan Ampang), and Garden Plaza (Cyberjaya) as well as new projects like M Sentral (Kuala Lumpur) and M Residence@Rawang.
"We have set a sales target of RM2.5 billion for 2012, and we are optimistic that we can continue our strong sales momentum as our products cater to market needs and are well sited in strategic locations," said Leong. — Bernama
SOURCE: Business Times
