Developers Foray Into Boutique Development

The concept of boutique developments is fast becoming an attraction in the property market nowadays.

Gamuda Land Sdn Bhd managing director Chow Chee Wah says usually, the design of a boutique development is for the middle to high-end housing, catering to a special targeted niche market that has a discerning taste and appreciation for resort lifestyle living.

“Gamuda Land has a few boutique developments, namely Valencia in Sungai Buloh, Jade Hills in Kajang and Madge Mansions in Kuala Lumpur. Both of these landed developments – Valencia and Jade Hills – are within the 300-acre range, while Madge Mansions, our high-end condominium is on 2.16 acres,” he says in an email.

Chow defines Gamuda Land’s concept of a boutique development as one with a low density ratio and a host of other Oooomph! factors.

“It has to be very exclusive, very private with top security features in placed. Added to that is the ambience and this includes a host of criteria – quality products, safety and security, tranquil environment, well-equipped facilities, status and class, and a good return on investment, he says.

He says Gamuda Land first ventured into boutique developments in the year 2000 with Valencia.

“This luxurious project became the first boutique development in Malaysia with a private 9-hole residents’ golf course and country club. Valencia soon became a much sought after address because it offers the perfect combination of living in a landed property with condominium living facilities.

“It is a private, exclusive development within an environment equipped with the best resort facilities for a healthy and secure living lifestyle,” he says.

Facilities and ambience aside, Chow says a boutique development is also about location. It has to be a prime address that an owner will be proud of.

“It is about being a class above others,” he says.

“Gamuda Land decided to undertake this type of projects because we saw a growing demand and need for it. In urban areas, especially in the Klang Valley, the growing population of the affluent and elite group are looking for residences that meet their needs and desires for fine resort living.

“Valencia and Jade Hills testify to our success in this boutique home category. More than 60% of Valencia purchasers are repeat buyers. Thirty percent of Valencia’s residents today are expatriates, a large majority of them are Europeans. This means our boutique developments have become prime investments,” he says.

Because developers saw the popularity of boutique properties, they are now beginning to offer boutique commercial developments.

IRDK Land Sdn Bhd director Datuk Kevin Woo says such developments are not a trend but a need as the market evolves.

“The difference between boutique commercial developments and other commercial developments is the concept and setting of the development. It gels the business with lifestyle elements by providing and facilities,” he says.

The company is developing a boutique commercial development called Alam Avenue in Shah Alam, comprising 51 commercial units on three-storey intermediate shop offices and five-storey corner and end units.

“The ground floor will have a floor to ceiling height of 4.5 metres (15 feet). It will be generously fitted with high quality zinc aluminium roller shutters of 10 feet high to give maximum advertising and showroom presence.

These shops will have generous 17-feet verandas and walkways frontage to accommodate alfresco dining and cafes.

They will be tiled luxuriously with homogenous floor tiles. Decorative light fittings will be installed at the walkways to enhance the ambience and to exude on easy flamboyant lifestyle where business and leisure meet in a quaint setting,” he says.

The gross development value of the project is about RM100mil. It is scheduled to be completed by December next year.

A green development is another concept introduce by developers. Sentral City (M) Sdn Bhd has gone one step further by incorporating a touch of Zen in its green concept development in Puchong Zen Residence@Asplenium condominium.

General manager Pang Swe Haw says the word Zen has been widely used in different industries like food and beverages but nobody has attempted to define the true meaning and essence of Zen.

“Zen is a living philosophy which centres around the simplicity and beauty of nature around us.

“In Zen Residence, we aim to create landscape and architecture settings that encourage the residence to take a longer and closer look at the environment around them and hope they will be able to develop a greater insight and appreciation of nature.

“So, we may not be the one who first use the word Zen, but we are the first to really explore and implement the Zen living concept,” says Pang.

With GDV of about RM96mil, Pang says Zen Residence has achieved close to 90% sales to date. The company will continue to explore this concept in their next project that is currently on the drawing board.

Source: The Star

Construction Work On Kinrara - Sri Manja Interchange Begins

After 14 years of waiting, construction work on the Kinrara-Sri Manja interchange in Puchong has finally started.

The RM13.6mil project started last month and will be completed by October next year, said Malaysian Highway Authority director-general Datuk Ismail Mohd Salleh.

Ismail, who visited the site with former Puchong MP Datuk Lau Yeng Peng on Thursday, said the 500m link would connect Sri Manja with the Kesas Highway’s Kinrara exit.

He said the project was delayed due to several factors.

“It was supposed to be completed by the Petaling Jaya City Council (MBPJ) but they were unable to do so due to lack of funds.

“The local authority has appealed to the Federal Government for funds and that is why the project is being undertaken by the Federal Government now,’’ he told the media.

Ismail said the construction of the link would also involve the eviction of a squatter and a cattle farm in the area.

He said the pylons located over the construction site would be raised so that it would not cause any hazard to motorists.

“We will build a 300m sound barrier along the stretch.

“Our survey also revealed that some 20,000 motorists will benefit from the project.

“It will enable them to by-pass Jalan Kelang Lama in order to travel to Petaling Jaya from Puchong and vice versa,’’ he said.

Lau said he was glad that the work on the link had started after so much of struggle by him and the Barisan Nasional leaders in the past.

He said he and the other Barisan politicians had fought hard for the construction of the link and hoped that people would not be mistaken that this project was being carried due to the contribution of the opposition party.

“The project was approved by the Works Ministry in 2007 and others cannot claim credit for our efforts,’’ he said.

Source: The Star

Puchong LRT Extension Puzzle

Yesterday’s briefing by Syarikat Prasarana Nasional Bhd on the Light Rail Transit service to Subang Jaya and Puchong left many puzzled as to what the exercise hoped to achieve.

For one, what the extension does is to cater for a huge population base, said Michael Tamilarason— the Puchong councillor at the Subang Jaya Municpal Council (MPSJ).

However, he said the LRT line extension does not go beyond Kampung Baru or between Batu 13 and Batu 18 in Puchong.

“These places have in total more than 10,000 in population, arising from the huge housing estates especiallyin Bandar Bukit Puchong.

“In truth, these are the areas where the service is sorely needed. Yet, after listening to SPNB, it appears these places have yet to be included in its LRT plans. The company also did not offer any explanation when queried,” said Tamilarason.

During the briefing, SPNB’s plans showed the LRT line extension to Puchong will have stops at IOI Mall, Tesco, Bandar Puteri, Puchong Perdana and Putra Heights.

Another public hearing for the Puchong community is expected to be held later this month to solicit feedback and suggestions.

“At this next hearing session, the people should demand for more LRT stops. Anyway, the authorities had ordered the original route to be reviewed, where additional LRT stops are expected to be included,” said a council staff, who declined to be identified.

It is learnt that there is a possibility for more LRT stops to be included in the 10th Malaysia Plan (2011-2015). If that is true,then the public can expect a further delay in the completion of the project.

When first mooted in 2006, the new LRT extension project was supposed to be part of a special RM10 billion government allocation for an efficient and cost-effective public transport system in the Klang Valley.

The extensions to the existing Kelana Jaya-Gombak and Sri Petaling-Ampang lines were to be constructed at a cost of RM5 billion and supposed to be ready by 2010.

This was later delayed to 2011 and the latest feedback is that the planned additional lines and stations for the LRT network is now projected to be ready only in 2013— three years later than originally planned.

The new lines will cover some 32km and cut across Kuala Lumpur.The Kelana Jaya line (formerly Putra LRT) will be extended to Subang Jaya and USJ, while the Sri Petaling line (formerly Star LRT) will cover Puchong.

Source: The Star

Police Make Their Presence Felt

The Bandar Bukit Puchong police has taken proactive measures to combat crime in Bandar Puteri.

Since Aug 5, two makeshift police booths have been erected at the junction of Jalan Puteri 1/1 and Jalan Puteri1/6 (next to Giant Hypermarket), and Jalan Puteri 5/2.

Both are in busy commercial areas where crime is rampant.

According to Chief Inspector Basri Sagoni of the Bukit Puchong police station, the nationwide effort was in response to the National Key Result Areas (NKRAs) announced by Prime Minister Datuk Seri Najib Tun Razak, one of which specified the reduction of street crime (including snatch thefts and unarmed robbery) by 20% by the end of 2010.

Apart from establishing a police presence in the crime hotspots, the booths also allow the public to approach the police easily for help.

“The police officers are stationed there 24 hours, in three shifts – 8am to 4pm, 4pm to midnight and midnight to 8am,” Basri said.

He added that there were more officers patrolling the streets.

However, the booths will be removed after a certain period of time.

Selangor MCA Youth Chief Dr Kow Cheong Wei welcomed the move as it instilled confidence in the public who visited the areas.

“The traffic in Bandar Puteri 1 is quite messy, providing opportunities to snatch thieves to prey on defenceless victims.
“The police presence will definitely deter them from commiting crime,” he said.

Kow added that he had even received enquiries from business communities in Puchong Jaya and Puchong Perdana to help them apply for similar booths in their areas to curb crime.

Source: The Star

Sign Of Quick Rebound In Property Sector

The slew of property launches and speedy take-up rates lately are signs that the local (property) sector is on a quick rebound from the global economic downturn.

In its latest report, HwangDBS Vickers Research said the local high-end property sector had been on an uptrend, with developers raking in quick profits from project launches.

Among them were DNP Bhd’s Verticas condominiums in Bukit Ceylon, Kuala Lumpur, which saw 60% of the 50 units soft launched being taken up.

En bloc buyers also snapped up 93% of non-bumiputra units launched (last month) at IJM Land Bhd’s Light Linear project in Penang.

“We see demand for high-end units returning, which could re-rate the sector,” said HwangDBS.

It also highlighted Eastern & Oriental Bhd’s St Mary serviced apartments in Kuala Lumpur (launched in June, 80% take-up in five days) and SP Setia Bhd’s Sky Residences condominiums in KL (previewed in September 2008, with an average 70% take-up so far).

“Developers are more confident now to resume launches, which should lead to faster earnings recovery. Selling prices may soon be raised and incentives gradually pulled back, resulting in margin expansion for developers,” HwangDBS said.

An analyst from a local bank-backed brokerage said the take-up rates were not surprising, given the developers’ good reputation.

“These developers aren’t your fly-by-night type of developers. They have very good reputation and solid track record. The average investor or house-buyer is more likely to park his money with a well-known developer, knowing that his money would be safe,” he said.

Another analyst said the property sector was making a comeback in the region. In the last few months, Hong Kong, Singapore and China had seen strong surges in property demand, she said.

“There’s so much liquidity with nowhere to go. This is one of the safest ways to fight inflation. Putting your money in the bank basically means being eaten up alive by inflation.

“Malaysian property is generally still very affordable. If you don’t buy one now, it will be even more difficult to afford it next time. The 2% interest you get from banks is nothing,” she noted.

HwangDBS also highlighted the Malaysia Property Inc, a joint public-private sector initiative aimed to attract foreign investments worth RM20bil in the domestic real estate sector over the next 10 years.

“The recent liberalisation measures (abolishment of local equity ownership requirement for mergers and acquisitions and Foreign Investment Committee approvals) should help boost both foreign and local demand for Malaysian properties.

“Previous policy changes (waiver of real property gains tax and monthly EPF withdrawals) introduced just before the financial crisis have yet to be fully felt and could be strong catalysts during a recovery,” it said

Source: The Star

Mini Retro Fridge

The retro-chic Smeg fridge, the Fab28, has been a kitchen style icon among design-conscious homeowners. Truth is, it's a tad bulky when a homeowner wants to put the refrigerator in the living room or bedroom.

Hence, Smeg has come up with a mini version of the popular retro-style fridge — the new Smeg FAB10.

The new 60cm wide frame is a contemporary creation that retains the retro good looks of the original model.

It shares all the design features of larger models including soft, curved lines and the SMEG chrome lettering emblazoned on it.

Smeg FAB10 has all the features expected of a high-end manufacturer — auto-defrost, thermostat control and convenient lighting.

Just one metre tall, this new fridge is ideal for single people, small kitchens, offices, or simply for storing drinks in a compact space.

The 120-litre capacity interior is split between a 107-litre capacity fresh food compartment and a 13-litre capacity, ''four-star'' frozen food compartment with ice cube trays.

The illuminated interior houses two adjustable shelves, a fruit and vegetable drawer, an egg shelf and additional storage compartments.

With a decibel rating of 37dB(A), the FAB 10 is practically silent and is A-rated for energy efficiency. It is also highly economical to operate.

Both left- and right-hinged versions are available. The Fab10 comes in cream FAB10P, orange FAB10O, black FAB10NE and red FAB10R colour options.

Smeg appliances are available from leading department stores, kitchen studios and retailers of electrical appliances.

Source: The Star

Tempo Sees More Bookings

Tempo Properties Sdn Bhd expects another 30% of the second phase of its The Atmosphere commercial development in Seri Kembangan to be taken up by this weekend.

The 20-acre phase comprises five components and encompasses shop offices, designer small office/home office (SOHO) suites, boulevard shops and retail outlets.

Chief executive officer Khoo Boo Hian said type A, comprising 30 units of three- and four-storey shops, was already sold out following a series of previews. It will be launching 106 more units under types B, C and D tomorrow.

“We are optimistic that our pricing strategy, the project design and the incentives we are providing will appeal to buyers,” he told StarBiz in a telephone interview yesterday.

The second phase was targeted at investors and business people, he said, adding that the units were priced from RM860,000.

“We will be covering the (loan) interest during construction. We will also be providing a 6% rental guarantee for the third and fourth floors for a year for type-D units. This is so that the owners can take their time to look for tenants.”

Types B to D comprise four- and five-storey units.

Khoo also said The Atmosphere was being developed in a “fast growing area”.

“The area is fairly developed. There is already a Jusco (supermarket cum department store) there, with Giant and Tesco (hypermarkets) also coming up. The Atmosphere is being developed in what we like to call the heart of the golden triangle of southern Klang Valley.

“We see great potential for growth,” he said.

The commercial development is accessible via major highways such as Lebuhraya Damansara-Puchong Expressway, South Klang Valley Expressway, Maju Expressway and the North-South Highway.

The Atmosphere, with a gross development value (GDV) of about RM900mil and comprising three phases, is located on over 40 acres that are being jointly developed by Tempo Properties and main market-listed Eksons Corp Bhd.

Khoo said the first phase was sold for RM23mil for the development of the Giant hypermarket.

Phase 2 has a GDV of RM300mil. The third phase, with a GDV of up to RM600mil, is expected to be launched within two years, said Khoo.

“Development of The Atmosphere is expected to be completed by early 2014,” he said.

Source: The Star

Old Klang Road-Kesas Link In Place Next Year

The link to Old Klang Road from the Kinrara-Puchong Inter-change on the Kesas highway is slated to be completed in October 2010.

At least 20,000 motorists using the route daily will benefit once the link is built through five housing areas between the New Pantai Expressway and Kesas, said Works Minister Datuk Shaziman Abu Mansor.

Shaziman, in making the announcement, said the 120m bridge and 380m road will cost the Federal Government RM13.6mil under the 9th Malaysia Plan.

“It will bring convenience to the residents here, giving them access to Kesas and it will indirectly help ease their travel to Puchong and ease congestion at the Sunway toll plaza on the LDP,” he said after inspecting the half completed bridge there yesterday.

He said the maintenance of the road would be handed over to the Petaling Jaya City Council (MBPJ) once it was completed next year.

Shaziman added that the contractor, Syarikat Ismail Ibrahim Sdn Bhd, had been told to include buffer zones for the construction of the three-lane road to reduce noise and ensure safety for the residents in the affected areas.

Shaziman also said that the Public Works Department (PWD) had been told to recheck reports from the Malaysian Highway Board (LLM) on cracks at the Puchong Jaya Intersection-Damansara Puchong Expressway bridge.

However, he assured that the cracks were only on the surface and did not compromise the bridge’s structure.

“Nevertheless, I have instructed PWD to obtain reports from LLM and check again to ensure that the structure and flyover is really safe,” he said.

He also said that the interim rebate for motorists who use their Touch ‘N Go cards to pay for toll more than 80 times a month will be applicable on all highways.

“There are some who are unclear and think that it only applies to specific highways.

“But they can criss-cross on any highway and get the rebate as long as they pass more than 80 times per month,” he said.

He added that the Economic Planning Unit was still studying the system with the toll concessionaires and would present the findings to the Cabinet once it was completed.

Source: The Star