Tenders to open next week

KUALA LUMPUR: The eight-acre (3.2ha) piece of land that belongs to the French embassy in Jalan Ampang here will be sold via an exclusive tender by CB Richard Ellis (CBRE) Malaysia next week, its associate director Nabeel Hussain told The Edge Financial Daily yesterday. The freehold institutional land, which houses the ambassador’s residence, two bungalows, and the embassy office, is directly opposite the British High Commission. It is also next to the Intermark building, in which the Doubletree by Hilton hotel, together with some offices and retail lots, are located. The tender exercise will be carried out next week and will be concluded by Chinese New Year in February, said Nabeel. “We are setting a relatively long period for the tender exercise because it is a big and expensive piece of land,” he said. No reserve price has been set for the land yet, said Nabel. However, it is learnt that the French government is expecting bids of around RM600 million, which equates to about RM1,800 per sq ft (psf), given the winning bid for the British High Commission’s land two years ago. “For the land to fetch RM2,000 psf is no problem because the British High Commission tender fetched around RM2,200 psf. However, the British High Commission property is more expensive because it is zoned for commercial use, compared with the French embassy, which is for institutional use,” said Knight Frank Malaysia managing director Sarkunan Subramaniam. Two years ago, S P Setia Bhd won the tender for the 3.07-acre British High Commission property that fetched RM294.96 million or RM2,200 psf in 2012. It was reported that the developer planned to redevelop the property — which includes a 3-storey building, a 2-storey clubhouse, and a swimming pool — into an integrated commercial development with a gross development value of RM1.04 billion. Nabeel said the French embassy has a year to vacate the premises after the tender is concluded next year, but claimed that he did not know where the embassy will relocate to. “However, it is a worldwide trend for governments to sell embassy land to trim their budgets and move the embassies to office buildings because of better security and facilities,” he added. This article first appeared in The Edge Financial Daily, on December 2, 2014. For more information on Building and Construction event, please visit www.asiapacificevents.com

NCT launches Ion Delemen’s final phase

KUALA LUMPUR: NCT Group of Companies launched the third and final phase of its RM1 billion Ion Delemen development  in Genting Highlands last month.

The project with a gross development value of RM380 million consists of Tower 4 and Tower 7. The latter is up for sale, while Tower 4’s pricing is being finalised.

“Phase 2 (launched in June) enjoyed an overwhelming response,” said Yap Ngan Choy, group managing director and founder of NCT Group in a press statement recently.

The first phase comprised 248 units of serviced apartments, while the second phase offered 279 apartments. Phase 1 is fully sold, while Phase 2 is 80% taken up.

The development is spread across 10.2 acres (4.1ha), and comprises seven blocks with 1,001 resort-style serviced apartments. Built-ups are from 385 sq ft to 2,970 sq ft.

Tower 7 consists of 333 units. They range from one-bedroom studios to two-bedroom units. Built-ups are from 385 sq ft to 988sq ft, and prices are between RM475,000 and RM1 million. Its penthouse units have built-ups of 3,040 sq ft and are priced at RM4.5 million.

Facilities include a spa, heated infinity pool, and an indoor gym and sauna. A 13,000 sq ft wellness centre managed by JK Medical Group offers a wide array of services including plastic surgery.

Ion Delemen is some 10 minutes’ drive from Genting Highlands Resort and 15 minutes’ away from Gohtong Jaya, the main township in Genting Highlands. It is about an hour’s drive from Kuala Lumpur.

An artist’s impression of a Tower 7 unit. Photo by NCT Group

 

 

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Queens Domain apartments showcased in KL

KUALA LUMPUR: Melbourne developers Kangoala Pty Ltd and Property Development Analysis Australia recently showcased their project, Queens Domain, in Kuala Lumpur last weekend. It is marketed by Knight Frank Malaysia.

“Queens Domain’s surrounding green environment of Albert Park, unbeatable views and proximity to the central business district, will ensure this project has all the criteria for a fast take-up rate by investors in Kuala Lumpur,” said Herbert Leong, associate director of Knight Frank Malaysia in a press statement recently.

The 20-storey Queens Domain sits on a 2,342 sq m tract of land and has a gross development value of A$183 million (RM532 million). It will comprise 235 apartments with one- to three-bedroom units. The built-ups are between 46.7 sq m and 104.8 sq m. Each apartment will have stone floor finishings for living and kitchen areas.

The apartments are priced between A$395,000 and A$949,000. They are expected to be completed by end-2017.

Designed by DKO Architecture in conjunction with Nexus Design, each apartment features an Italian designer kitchen and wardrobes, timber veneered front doors with internal closers, a security entry phone system and keyless entry to each unit.

Richard Drummond, director of residential project marketing, Knight Frank Melbourne, said: “The latest Knight Frank Global Cities Survey ranked Melbourne as [the city with] the best quality of life and is considered to be the “World’s Most Liveable City” for the fourth year in a row to top The Economist Intelligence Unit’s Global Liveability Index.

Residents will have access to a rooftop communal area that overlooks the park and the Melbourne Grand Prix race track. Facilities include a heated indoor swimming pool, gym, and residents’ lounge with free WiFi and kitchen services.

It is 3km from the central business district. It’s also within walking distance to a beach, shopping strip, recreational park, golf course and tram in St Kilda Road. Schools and colleges are within 1.5km from the apartments and the Melbourne International Airport is 22 minutes drive away.

According to Drummond, Melbourne is Australia’s fastest-growing region, with its increasing population fuelling demand for housing.

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Ametis is Subang Bestari’s latest attraction

AMETIS is a luxury semi-detached development built to serve lifestyle-seeking home buyers. The 20-unit semi-detached homes worth RM34 million in gross development value carry the same key features and concept of the latest properties developed by Worldwide Holdings.

“Designed with perfect home-living and privacy in mind, Ametis is the last offering of luxury semi-detached units with spacious family homes and private gardens within the Subang Bestari township,” said Worldwide 

Holdings head of property Rosli Ismail.

He said space is indeed a luxury with unit sizes ranging from 3,049 sq ft to 7,841 sq ft and built-up areas between 3,284 sq ft and 3,743 sq ft. There are four designs to select from, offering 4+1 rooms and five bathrooms each. Each unit is priced from RM1.6 million.

Ametis is located in the matured Subang Bestari township, which has schools, college, a public hall, mosque, shops, offices, shopping centre and recreation areas.

Backed by its strategic location, good quality, excellent connectivity and a matured surrounding, Ametis will do well in the market as proven during its preview launch where 40 per cent of the units offered taken up, he added.

Situated within a five-minute drive from Subang Airport and sandwiched between Kota Damansara, Kelana Jaya, Subang Jaya and Petaling Jaya, Ametis boasts an unmatched development that is a stone’s throw away from some of the most prestigious golf clubs in the country, such as Saujana Golf & Country Club, Kelab 

Golf Negara Subang, Glenmarie Golf & Country Club, Kelab Golf Sultan Abdul Aziz Shah and Monterez Golf & Country Club.

Buyers will also enjoy amenities such as autogate point, reliable alarm system, solar water heater with booster pump, rain water harvesting feature for landscape and parking space for three cars.

Rosli said accessing Ametis is a breeze with easy links to various roads and highway
networks, namely Guthrie Corridor Highway, Federal Highway, Damansara-Puchong Expressway, New Klang Valley Expressway and the proposed Damansara-Shah Alam Highway, and Subang Airport and a proposed mass rapid transit station.

Situated within a five-minute drive from Subang Airport and sandwiched between Kota Damansara, Kelana Jaya, Subang Jaya and Petaling Jaya, Ametis boasts an unmatched development that is a stone’s throw away from some of the most prestigious golf clubs in the country. 

 

Worldwide Holdings chief executive officer Datin Paduka Norazlina Zakaria and head of property Rosli Ismail with a model of the Ametis.

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Making Cyberjaya a home for all

Making Cyberjaya a home for all

Imagine your home overlooking a lake, rimmed with manicured, pasture-like lawns. At the rim of the lake at the north is a skyline of the commercial hub and shops. And surrounding the homes are delightful and verdant greenery.

That is what homeowers of Areca’s Contempo Homes can expect at this residential parcel in the Areca Cyberjaya township. Ground works for this parcel has already begun along the south rim of the lake.

Within this 150-acre (60.7ha) landed residential development, residents enjoy the 45-acre (18.2ha) lake, which has five parcels surrounding it.

Executive director of Areca Properties, Aidan Hamidon, said “The lake complements the development, and vice versa. People get to live by the lakeside and also experience the lifestyle by the lake. The lakeside becomes a working feature that we like to integrate into the lifestyle here.”

The residential homes are distinct from the central business district to create a stress-free environment though it is just a leisurely stroll away. It is lower density in terms of car park spaces and the integration of cul-de-sacs encourages neighbours to mingle, to create a sense of community.

When it comes to car park spaces, the houses are designed in such a manner that the driveway has a capacity of holding four cars within, so parking cars alongside roads become unnecessary.

Residents can even buy extra car parks, for along the perimeter of the development will be garages available for purchase by homeowners. Each are fitted with pipes for washing cars and ventilation.

And when it comes to Contempo Homes, Areca tries to make them smarter, by redefining how two-storey terrace houses should look, especially compared to those from established developments such as Petaling Jaya or TTDI.

The first type of homes, which are about 2,500sq ft, has four bedrooms with en-suite bathrooms, for maximum and individual privacy.

In terms of space optimisation, the homes were flexibly planned with an open living concept that maximises space from the living area all the way to the dining and kitchen.

This concept is very much de rigeur in modern homes overseas.

It makes the living area more airy, allowing more natural light to enter through. In this generous space, homeowners have ample opportunities to make their home uniquely theirs. All they have to do is to bring in their personal belongings such as furniture, televisions, additional lamps and so on.

The kitchen is ready with a refrigerator and fully fitted stove, so is the laundry area.
For those purchasing for investment or rental purposes, this concept makes it even more convenient as owners need not add any more fittings to the home.

Contempo Homes was constructed using the industrialised building system, known overseas as prefabricated construction or off-site construction.

This new building technique manufactures components within a controlled environment, either on- or off-site. These parts are then assembled at the construction site.

This method increases productivity and quality as it is faster, cleaner and more environmentally friendly.
Contempo Homes’ walls are made of poured concrete – not bricks – making them stronger with a more even finishing.

Though Contempo Homes are priced for higher income earners and even foreign investors, ultimately they are buying into sturdy, fully fitted homes, all ready for families to move into within three months.

These landed houses are ideal for families who have outgrown apartments and would like to upgrade to a landed piece of property.

Homeowners also enjoy the amenities – open fields, the lakeside and parks. A nearby clubhouse has a swimming pool, a wading pool, lounge and cafeteria, gym, surau and a barbecue area. The sports facility next to that has a tennis, badminton and basketball courts.

The sports facility also acts as a function hall so it can easily be converted into a community hall for parties, kenduri and gatherings.

Overall, upcoming developments include a mosque, shopping areas and a market place, even a school.

Cyberjaya is recently coming into its own as a self-sufficient township, with developments like Areca Cyberjaya.

Developments like DPulze – a completely integrated development – with international schools such as Alice Smith School, will draw more people to consider settling within this cosmopolitan setting.

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Why branding matters in property

By PUTERI KAARRIENA 

Branding is one of the vital aspects of any business be it large or small, retail or B2B. With an effective brand strategy it will give the firm a major edge in the increasingly competitive markets. Academics and marketers have unanimously agreed that the evolution and origin of branding has been moved from a commodity-driven model to a value-driven model. The identification system used by consumers was designed to show ownership. It is a tool to navigate their way through the massive offerings of common goods. This allowed them to identify the best products available in the market, and empowers them to repeat the preferred purchase. The concept of branding began to take on a new meaning in the late 60’s and early 70’s. This included a larger concept of image and values. It was pictured in a Harvard Business Review article written by Al Ries and Jack Trout and later it was authored into a book by the same title: POSITIONING: The battle for your mind. The notion is not about the product superiority that mattered but rather the consumer’s perception of a certain brand that cemented the road to success.

In a sense, the most important perhaps, is that a brand is a promise. By thinking some of the top brands such as McDonalds, Apple and Coca-Cola it is immediately embedded what are the products or services they associate with and offers. A promise, look, personality and attributes eventually obtained by a special patina of “me” appeal, when purchasing a certain brand it says many things about the purchaser. For example 

 Apple has that certain patina which lead to sub-brands like the iPhone and iPad which acquires certain aura of the patented brand. This concept is labeled “brand positioning” and to date it still remains the standard for developing successful brands. The branding role has turned increasingly important in the property industry and is a driving force in many other industry as well. Branding should no longer be looked at as another marketing gimmick but a full fledge force in spearheading any strategic planning in any property companies. When a property company is able to achieve a branding status, they will be able to enjoy a larger market share and brand equity in the current competitive environment.

Branding plays a major role in the initial stage with the buyers’ experience. It is a lifestyle that is being sold, which creates an aspirational life that the buyers’ would want to be a part of. The brand must be appealing to the target audience. Therefore branding in the property develop- ment is catching up at a very fast pace. However from a different prospective, it is a long-term purchase with a much higher financial investment and maybe prone to brand loyalty.

A careful consideration is needed in branding especially on developments with a wide range of properties, for example in a mixed township to appeal towards a variety of demographic.

According to Fishwick (2005) there is an increasing call to have real estate sales agents “brand” themselves. A brand is more in depth than just a name or icon, it is a reflection of the imagery used from the typography and the style and mood of the photography and the color palette used. The need to reference current design trends with the architectural style of the properties being built, the geographical location and the brand guidelines of the property developer must work together and blend seamlessly. For example EcoWorld Development Group Berhad came out with the tagline “Creating Tomorrow and Beyond” projects themselves beyond builders and would want to change the world with eco developments creating innovative futuristic developments for the new generation with advanced lifestyles.

Dongtan, located near Shanghai and the New Songdo City in South Korea has both integrated branding in their marketing. For the Palm Jebel Ali Resort in Dubai under Nakheel Properties, they have placed a special branding department dedicated to brand the projects on-site as branding is the major driving force in their project development and marketing as stated by Walsh (2006).

According to Knight Frank’s Branded Developments report, developers can increase profits by around a third by building “branded homes” as branded developments are paving the way in terms of price growth in the prime global residential market. While the main city markets from around the world has seen the prices rise by an average of 15.5%, outperforming mainstream markets. Branded residence on the other hand has outperformed them. Hitchcox explains that people identify themselves with the development and the community they are about to move into. It is buying a lifestyle that will enable them to interact with likeminded people.

Every real estate product is unique and so is the position of each purchasing individual. Many considerations have to be taken into account before the final purchase decision is made. The developers are well aware that above all, the developers brand is important. It is vital to the developers to have solid followings on their repeated purchasers. In order to do so, a high standard of services and products should be of high finishing qualities and product delivery should be on time, and an initiative to organise functions for the community to connect with one another and to sponsor public events by giving back to the community will enhance their brand even more. In return, purchasers are willing to pay a much larger amount for the services.

The best brands are built on strong ideas, ideas that everyone can commit to and can be delivered upon. The brand needs to permeate the entire organisation, and when an organisation is clean on the brand and the promise can be delivered, it will be tremendously fruitful while building brand loyalty among your customer base.

>> Puteri Kaarriena is working at Malaysia Property Incorporated.

i-City unit plans 4-star hotel

By S.PUSPADEVI puspa@thestar.com.my

PETALING JAYA: I-R&D Sdn Bhd, a unit of I-Bhd has inked a deal with Hilton Worldwide Manage Ltd to develop a four-star DoubleTree by Hilton in i-City.

This marks the second hotel in the area after the three-star Best Western, which opened its doors last month.

Deputy chairman Datuk Eu Hong Chew said the construction of the DoubleTree is scheduled to begin in the first quarter of 2015 and completed in 2018. The project boasts a gross development value (GDV) of RM200mil.

“The Hilton group has recognised Shah Alam as one of the growth centres in Klang Valley. Under the agreement, Hilton will operate the 300-room hotel, which is part of the RM1bil investment property portfolio that I-Bhd is establishing to provide a recurring income stream for the group,” Eu told a media briefing after the I-Bhd and Hilton International signing ceremony yesterday.

The investment property portfolio comprises a 1.5 million sq ft regional shopping mall called the CentralPlaza@i-City, three hotels, 8,000 car parking lots and data centres, among others.

 Eu said the development of hotels in i-City would help enhance the value of properties there, apart from producing a recurring income for the group.
i-City is currently negotiating to develop a five-star hotel, which would be part of the Jewel@i-City development. This is slated for opening in 2020. It, however, has yet to establish a breakdown in contribution from the hotel segment.

“By 2018, half of I-Bhd’s revenue would be derived from its recurring income segments, namely investment properties and leisure park business.

“We are in search of landbanks for property developments as well as a larger (piece of) land in a rural area for the next theme park,” he said.

He added that it would continue to move forward with its development plans next year despite the slowdown in the property market.

The group recently raised RM800mil to fund projects for the next five years. It is confident that all of its properties in i-City would be sold by 2020.