A gated residential with three different type of 3 storey developments, Taman Gemilang Permai will spoil you for choices. Comprising of 3 Storey Semi-Detached, 3 Story Cluster Semi-Detached and 3 Storey Bungalows, Taman Gemilang Permai exhibits sleek lines and timeless elegance to each home design with every little detail is given due attention, it strives to provide you with a complete living package for you and your loved ones.

At Taman Gemilang Permai, you will find that you will have everything you need and so much more!

The Residence Clubhouse will be able to cater to all your recreational and leisure requirements. Clubhouse amenities includes:

• Club Hall
• Sauna Room
• Swimming Pool
• Children’s Wading Pool
• Children’s Playground
• Gym Facilities
• BBQ Area

Indicative Price: RM708,000 onwards

Developer: Airmas Group

Where the good life is enjoyed outdoors as well as indoors

Give your kids a home that have inherited the best values of wholesome living, one that reflects the intimate lifestyle of old Penang. These exclusive 3-Storey Semi-Detached homes take on a modern minimalist approach in its design while retaining all the conventional practicalities of a home. From wide windows, private balconies to a spacious garden area, there’s a cosy corner for everyone in the family.

Sunway Merica, the three-storey semi-detached homes in Sungai Ara by Sunway City (Penang) Sdn Bhd (SCPSB), a wholly owned subsidiary of Sunway City Berhad (SunCity), is now open for registration.

Sunway Merica is a residential development that allows families to enjoy the comforts of a modern and contemporary lifestyle.

These exclusive three-storey semi-detached homes were designed with a modern minimalist approach while maintaining the functional and conventional practicalities of a home. This development also boasts wide windows, private balconies and a spacious garden area. The gross floor area is 3,972sq ft.

Sunway City Berhad Property Development Division Malaysia managing director Ho Hon Sang said, “The registration of these three-storey semi-detached homes follow the recent launch of the three-storey terrace houses in Sunway Merica. We believe that Sunway Merica provides homebuyers with a unique opportunity to live in a comfortable and spacious environment where families can spend quality time together. Moreover, its strategic location allows homebuyers to enjoy an intimate lifestyle while still being able to enjoy good access to nearby amenities for their convenience. As such, we welcome interested buyers to register soonest in order not to miss this opportunity.”

“With SunCity’s strong track record in building quality and innovative homes, homebuyers can be rest assured that Sunway Merica will prove to be another positive investment for the future.”

The unique feature of these three-storey semi-detached houses is its seamless flow of space from the living hall, dining room and the kitchen. There are also wide windows for airy and natural ventilation. The dining room has sliding doors that lead to the garden, enabling families to enjoy wholesome meals while surrounded by lush greenery.

The family area is on the first floor and families will enjoy the private balcony and open-air pavilion adjoining the main master bedroom. The master bedroom has a spacious en-suite bathroom, walk-in wardrobe and dressing area. The starting price for the three-storey semi-detached houses are expected to be from RM1.5 million onwards.

Interested buyers are strongly encouraged to register their interest for these units at www.sunwaycity.com/sunwaymerica/semi-d . Buyers who have registered previously will be entitled to a RM1,000 discount, on top of the early bird discount that was offered.

As mentioned earlier, apart from the three-storey semi-detached houses, Sunway Merica also recently launched its 86 units of three-storey terrace houses. The terrace homes are designed with up to 5+1 rooms, inclusive of two master bedrooms, providing the ideal living option for growing families. Pricing for the three-storey terrace houses are from RM877,500 onwards.

SOURCE: The Star

Tambun Indah Land Bhd, a leading property developer in Penang, is planning to acquire 3.2 hectares of land next year.

Managing Director Ir Teh Kiak Seng said the group had identified 1.6 hectares on the mainland and another 1.6 hectares on Penang island with a gross development value (GDV) of approximately RM36 million and RM170 million, respectively.

According to an independent market researcher, the residential property market in Penang was valued at RM3.7 billion last year, and the mainland accounted for approximately 30 per cent of Penang's residential property market.

"Mainland Penang (Seberang Perai) is one of the fastest growing district in Penang due largely to a growing working class population as a result of rapid industrialisation," he said during the launch of the group's initial public offering (IPO) here today.

Tambun Indah is scheduled for a main-market listing on January 18.

"We are still eyeing for landbank in the Klang Valley like in Shah Alam and Kajang but are cautious about the cost, therefore, we have not finalised anything yet.

"As we all know, Klang Valley is a good market to do housing, but we want to build our name by building quality homes at an affordable price.

"We, however have no plans to expand overseas at the moment," Teh added.

Last year, the group garnered a 10 per cent share of the Seberang Perai residential property market.

"We expect after the IPO, our market share will increase above 10 per cent," he added.

To date, Tambun Indah has sold more than 2,800 residential units mostly in mainland Penang with a GDV of more than RM800 million.
Teh said the group achieved commendable financial performance over the years and had maintained a low-borrowing financial model so as not to burden the balance sheet.

As at December 31, 2009, the group was in net cash position.
"Tambun Indah has adopted a progressive dividend policy of paying between 40 and 60 per cent of group net profits to shareholders.

"At an IPO price of 70 sen per share, the annualised net dividend yield is estimated to be approximately seven per cent in financial year 2010.

"We believe this policy will go a long way in not only attracting investors but also ensuring value-creation for the long-term," he added.

Tambun Indah's IPO consist of a public issue of 32 million new ordinary shares and an offer-for-sale of 22.1 million vendor shares at an IPO price of 70 sen per share.

Of the 32 million new ordinary shares under the public issue, 11.05 million shares will be allocated for the Malaysian public.
Meanwhile, it has also allocated 9.9 million shares for private placement and 11.05 million shares for eligible directors, employees and business associates of the group.

The 22.1 million offer-for-sale shares will be allocated for placement to identified investors.

Additionally, the group's IPO will raise RM22.4 million in proceeds for the group.

Of this, RM12.70 million will be allocated for working capital, RM7.10 million for repayment of borrowings and the remaining RM2.60 million to defray listing expenses.

MIMB Investment Bank Bhd is the adviser, sponsor, underwriter and placement agent for the group's IPO exercise. — BERNAMA


SOURCE: Business Times

SINGAPORE: CapitaMalls Asia Limited is set to add another mall to its portfolio with the proposed acquisition of Queensbay Mall in Penang for RM651.8 million.

According to Lim Beng Chee, CEO of CapitaMalls Asia, Queensbay Mall will form the seed asset for the trust's planned RM1 billion Malaysia retail property fund, to potentially provide a pipeline of shopping malls for CapitaMalls Malaysia Trust to acquire.

The trust will acquire about 90.7% of the mall's retail strata area of about 916,181 sq ft and all its car park, it said in a press release on Wednesday, Dec 22.

Taking into account the net lettable area (NLA) of about 892,361 sq ft, the purchase price is equivalent to about RM730 psf of NLA. The total cost, including acquisition-related cost, is RM658.3 million.

"Gurney Plaza – which we already own through CapitaMalls Malaysia Trust – and Queensbay Mall are the two best malls in Penang. The acquisition of Queensbay Mall, the largest shopping mall in Penang, will substantially strengthen CapitaMalls Asia's market leadership in the state.

"This acquisition signals our ongoing commitment to invest in Malaysia's retail sector for the long-term, following our listing of CapitaMalls Malaysia Trust in July this year," said Lim.

Queensbay Mall will be CapitaMalls Asia's second mall in Penang, and its fourth in Malaysia. The other three malls – Gurney Plaza in Penang, an interest in Sungei Wang Plaza in Kuala Lumpur, and The Mines in Selangor – are owned through CapitaMalls Asia's stake in CapitaMalls Malaysia Trust.

Lim, who puts Queensbay Mall's property yield at about 5%, said CapitaMalls Asia will leverage on its scale and expertise to upgrade the mall further through remixing the tenancy as well as improving the asset plan to realise the potential of the mall.

The acquisition will be carried out through CapitaMalls' subsidiaries and an asset-backed securitisation structure.

Queensbay Mall, which is located at Bayan Lepas, is a family lifestyle mall in the geart of a 73-acre prime waterfront integrated development, comprising a hotel, residential homes and planned office towers.

Due to its central location, excellent transport links and proximity to the Penang Bridge and Bayan Lepas industrial hub in Penang's Free Trade Zone, the mall serves about 1.6 million people on Penang island and the peninsula mainland.

The mall's accessibility will be further enhanced in the future with the planned development of the proposed second link bridge from the south of Penang island to Seberang Prai on the mainland.

SOURCE: The Edge Property