The Curve, condo by the bridge. Located just next to The View Condominium with unobstructed view of the sea and the Penang bridge. This residential scheme comprises two 31-storey condominium blocks with a total of 296 units.

* THIS PROJECT HAS ALREADY BEEN CANCELLED *

Project Name : The Curve Condominium
Location : Batu Uban, Gelugor, Penang
Property Type : Condominium
Built-up Area : 1,000 sq.ft. – 2,000 sq.ft. onwards
Total Units : 296
Land Tenure : Freehold
Developer : Lengkap Impresif Sdn. Bhd.
Contact No : 04-226 2000
Indicative Price : RM380/sqft. onwards

KUALA LUMPUR: Property developers will be forced to raise prices of residential properties by as much as 20 per cent due to rising cost of building materials

The Real Estate and Housing Developers’ Association Malaysia (Rehda), however, does not think this will lead to a property glut.

“In Malaysia, there are very few investment portfolios that one can hold. Besides stocks and bonds, the other alternative is property and one can never go wrong on that,” Rehda president Datuk Michael Yam Kong Choy claimed.

Rehda is optimistic that property prices will pick up in the second half of this year and 2012, given the positive outlook of the Malaysian economy.

Yam said the property sector has a direct correlation to the economic condition as demand for properties increases during a booming economy.

“Unless there is a serious financial crisis, I see steady uptake in properties,” he told reporters after Rehda’s first half 2011 property update yesterday.

On building materials cost, Yam said prices of items, such as bricks, steel, cement and sand, which are major construction components, have increased to 89 per cent from 32 per cent within eight years.

Yam said developers these days can only afford a net margin of about 5 per cent to 10 per cent because of high cost of building materials.

“Look at SP Setia Bhd, one of the biggest developers in Malaysia with a market capitalisation of nearly RM7 billion, but made only around RM250 million in net profit last year. There are other businesses which make much more than property developers,” Yam said.

The high cost of building materials and land prices and the shortage of labour will continue to be the main challenges faced by property developers in Malaysia, he added.

On the trend moving forward, Yam said popularity of properties in the vicinity of transport modes will be more desirable and those looking for landed properties would be more willing to move further out from city centre areas.

In the last 12 months, companies such as SP Setia and UEM Land Holdings Bhd have been buying land in Ulu Langat, Selangor, in anticipation of demand for properties in the area. – By Sharen Kaur

Source: Business Times

KUALA LUMPUR: More Malaysian developers are expected to invest abroad to diversify their source of earnings and avoid tough industry rules at home.

"Increasing affluence would accelerate these outward investments," The Real Estate and Housing Developers' Association Malaysia (Rehda) president Datuk Seri Michael Yam Kong Choy said after Rehda's first half 2011 property update yesterday.

Recently, SP Setia Bhd said it is buying land in Melbourne, Australia, for RM81 million cash, its second foray into Melbourne.

Other developers that have been investing overseas include Berjaya Land Bhd, Lion Group, Sunway Group, PJ Development Holdings Bhd, WCT Bhd, Glomac Bhd and Gamuda Bhd.

Yam also said more individuals will invest in properties overseas as part of their portfolio diversification strategy.

In the last few years, property developers from Australia and the UK have been showcasing more of their products in Malaysia.

Yam also thinks that more regulations and legislation imposed by the authorities would accelerate such overseas investments.

Rehda vice-president and ex-chairman of its Selangor branch Mustaza Mohamad said there are too many laws governing the property sector in Malaysia.

"This is a very rigid industry. We need to have flexible policies. Whether the Ministry Of Housing And Local Government, Bank Negara Malaysia or state authorities, we need to know if the policies are good for us or not," he said.

Rehda council member and head of property operations at Sime Darby Property Bhd, Wan Hashimi Albakri, said Malaysia should be a more free market economy.

"Developers are pressured to sell cheaper houses. But in reality, there are no more cheap houses as the cost has gone up from 30-odd per cent to more than 80 per cent in the last few years.

"The government should be putting in more money in peoples' pockets. There should be more wealth creation. Banks also should take a haircut for those buying properties," he said.

SOURCE: Business Times

SA65 signifies the 65 acres utilised in the development of this residential enclave within Simpang Ampat which is oriented towards the experience of ideal home living.

The specially designed features of SA65 fulfills the true needs of every home. The emphasis is on what contributes towards making a residence what it should be. Comfort freedom and convenience are the prime considerations. Hence the importance given to space allotment. With a sizeable built-up average of about 3500 sq ft for Terrace ‘T1’ and 4500 sq ft for Semi Detached Home ‘S1’, you are assured of more than enough indoor space to ensure not only total living comfort but individual privacy.

SA65 further incorporates a commercial sector which comprises 4-storey bunglow-style commercial blocks which impart a distinctive corporate image. The flexible features of these units, each of which comprises at least 10,000 sf and above, are a boost to any commercial operation where space and top functionality are of primary importance.

Each phase is a guarded community with a single-entry point and guarded-house to ensure the safety and peace of mind of the residents within.

Property Project : SA65 @ Taman Perdana Utama
Location : Simpang Ampat, Penang
Property Type : 3-Storey Terrace & Semi-D
Tenure : Freehold
Built-up Area: 22′ x 50′ (Terrace), 26′ x 50′ (Semi-D)
Total Units : 67 (Terrace), 30 (Semi-D)
Indicative Price: RM 525,000 onwards
Developer : Great Marvel Sdn. Bhd.
Contact No.: 04-588 4992

GEORGE TOWN: Prospective home owners and investors made a beeline for SP Setia Bhd Group’s ‘Setia 4U Showcase’ featuring a vast range of its impressive developments at the Gurney Plaza here.

It comprised both existing and upcoming projects in the northern, central and southern regions of the country, as well as those in Singapore and Australia.

Datuk S. Sundarajoo, the company’s general manager, property division (north), said the showcase laid out all their offerings to prospective customers in a one-stop setting.

‘Instead of having people come to us, we’re going to them.

‘There are people in Penang who might be interested in property in Kuala Lumpur, and vice versa. This way, one can purchase one of our property in another region of the country without having to go far,’ he added.

Among the new offerings are the Setia V Residences along Gurney Drive, and Fulton Lane in Melbourne, Australia. The latter, according to Sundarajoo, has been 70% sold out since its launch at the end of June.

Adding intrigue to the showcase were a group of 200 flash mobbers, all dressed in orange, who spontaneously gathered to dance and freeze in weird poses around the exhibition area.

From now until Oct 31, the group is also offering easy ownership packages and between 20 and 50 times rewards points under its Setia Privilege Program (SPP), which can be converted to offset part of the down payment at a rate of RM1 per point.

The showcase next moves on to PWTC in Kuala Lumpur from Sept 30 to Oct 2, followed by City Square in Johor Baru from Oct 7 to Oct 9.

SOURCE: The Star