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

Telekom 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.

A proposed residential development by Allied Energy Sdn. Bhd. at Bukit Tengah. Located within Taman Kerjasama, easily accessible via Jalan Bukit Tengah. It is just a stone’s throw away from Jalan Baru Roundabout.

This development will offer a 29-storey condominium with 100 residential units. Facilities to be built at ground and 6th level.

Project is still pending for approval. More details to be available upon official launch.

Project Name: (to be confirmed)
Location : Bukit Tengah
Property Type : Condominium
Total Units: 100
Land Tenure : Freehold
Indicative Price: (to be confirmed)
Developer : Allied Energy Sdn. Bhd.

Location Map:

Following the highly successful Utropolis Glenmarie in Shah Alam, Paramount’s visionary university metropolis will soon set foot in Batu Kawan, Penang.

Utropolis @ Batu Kawan is a 44.15 acres self-contained master-planned township anchored by a 15-acre new flagship campus of KDU Penang University College. Featuring a mix of freehold residential and commercial components including serviced residence, office & retail spaces and a hotel. The new township will offers a live-and-learn, work-and-play environment that promotes healthy learning and work life balance.

Located at the center of Batu Kawan – a district that is meticulously planned as a hub for leisure and entertainment, medical, education, tourism and technology. Its strategic location affords residents convenient access to major shopping, entertainment attractions and medical establishment namely the upcoming Design Village, IKEA and Columbia Asia. Not to mention the lifestyle retail shops within Utropolis Batu Kawan’s lively premises.

Utropolis Batu Kawan enjoys easy access to highways. With direct linkage to North-South Expressway and Penang Second Bridge, it ensures smooth commute to your workplace, and also to attract daily flow of visitors from the many nearby developments.

Lifestyle Commercial Suites

Coming soon is the first phase of Utropolis Batu Kawan, showcasing two blocks of 18-storey studio towers and 196 units of commercial suites.

For those who look to start a small business and or first-time commercial property investment, the flexible lifestyle commercial suite offers various built-up size catering to different business needs and financial affordability.

Unit size starts from 400 sq.ft. onwards, comes with the flexibility combining multiple units to meet your space investment goals. For convenience and better hygiene, each unit will have its own toilet.

Need a more inspiring area? Its promenades and al-fresco cafes will serve wonderfully as meeting and working spaces.

Studio Lifestyle Suites

If commercial property does not match your investment appetite, stay tuned for the unveiling of the 612-unit studio lifestyle suites in the fourth quarter. With practical, open-plan layouts, the studio units are well suited to students, couples and young families.

Other than education within your convenience, the residential components will be complemented by the lifestyle commercial suites and the neighboring shopping and entertainment attraction within the walking distance.

To further instill the live-and-learn concept, a purpose-built private Smart School is also planned to be built within Utropolis Batu Kawan to offer Malaysian Curriculum following the best practices from the leading schools across the world.

Looking at the industrial and commercial developments in Batu Kawan’s pipeline, the increase in commercial activities and the job opportunities will enhance its value as it matures into a full-fledged township.

Location Map:

Upcoming Utropolis@Batu Kawan

Paramount Corp Bhd’s second quarter net profit soared 70% to RM23.9mil from RM14.1mil a year earlier, on higher contribution from its property division and higher student enrolments at its KDU University College.

Revenue for the quarter ended June 30, 2016 rose 26% to RM145.3mil compared to RM115.3mil previously, the company told Bursa Malaysia in a filing yesterday. Paramount announced an interim single tier dividend of 2.5 sen for the financial year ending Dec 31, 2016 (FY16).

Chief executive officer Jeffrey Chew said the second quarter results had improved significantly after a lacklustre first quarter performance due to the festive breaks and general market sentiment.

He said that the results were also boosted from realising gains on the sale of student accommodation apartments in Petaling Jaya, which were no longer required following KDU’s move to its new flagship campus at Paramount Utropolis in Glenmarie.

“Prospects for Paramount property are improving, especially in the area of commercial properties, where astute investors are looking to make long term strategic investments,” Chew said in a statement.

The planned launches for the group’s commercial developments are Sekitar26 Enterprise shop lots, Greenwoods Salak Perdana shop houses and Paramount Utropolis Batu Kawan shop lots.

Find out more about Utropolis @ Batu Kawan

“These will be complemented by the launch of several residential developments to maintain our business strategy of having an array of products at different price points and locations,” Chew said.

He said that Paramount property has been finalising for the rollout of its new development in Batu Kawan, Penang.

On Paramount education arm, Chew said that the business would continue to be intensely competitive, especially in the tertiary segment. “The muted economic environment has driven many private higher education providers to offer significant reductions in tuition fees by way of discounts and promotions,” he said.

He added that the primary and secondary segment would see more new schools opening, with more in the pipeline scheduled for 2016 to 2018.

Paramount property division posted a 39% jump in revenue in the second quarter to RM107.6mil from RM77.7mil a year ago, due to higher progressive billings recorded across all its developments and higher sales recorded by the Sejati Residences, Sekitar26 Business and Greenwoods Salak Perdana developments.

Meanwhile, its education sector’s revenue for the quarter was maintained at same level as last year at RM37.4mil, while profit before tax increased by 112% to RM13mil from RM6.1mil last a year ago due to gain from from sale of student apartments in Petaling Jaya.

For the first half of the year, Paramount’s net profit dropped 9.8% to RM33.6mil from RM37.2mil a year ago. Revenue for the period fell by 7.7% to RM258.6mil from RM280.58mil.

Source: TheStar.com.my