GreenAcres Phase 1 sees 30% confirmed bookings

IPOH: TI Homes Sdn Bhd launched the first phase of its RM100 million retirement village GreenAcres this week, situated in Bandar Meru Raya, Ipoh. It currently has confirmed bookings of 30%. There are 170 villas and low-rise apartments within a gated community which are not for sale. Occupants sign a lifetime lease. “The units are not for investment because you cannot buy them,” said executive director John Chong. “What we are doing is providing our tenants a lifetime lease. In ensuring continuous quality throughout the lease, we retain control of the development and its environment.” To lease a unit, potential residents would pay a lifetime lease deposit of between RM300,000 and RM452,000 for units in Phase 1. The built-ups range from 734 sq ft to 1,105 sq ft. A monthly maintenance charge and contributions to a sinking fund range from RM350 to RM527. GreenAcres’ first phase will cover 10 acres (4.04ha) of freehold land and will also feature a clubhouse. The completion date for the first phase is 2016. Once it is completed, the entire GreenAcres development will cover 13 acres. “GreenAcres will be Malaysia’s premier retirement village, a purpose-built community that provides a superior lifestyle for citizens entering the golden years of their lives. It is a place where senior citizens can enjoy good quality living while remaining active and independent, where they can age gracefully and with full dignity,” Chong said. The remaining three acres of land are earmarked for Phase 2 with an aged care residence component that caters for residents who become less independent in future. The aged care residence will provide more individual attention care and is expected to be completed by year 2019. “The units are designed with elder-friendly features like grab bars in the shower, wider doorways and minimal kerbs — to anticipate a day when your mobility and strength might not be what it once was,” he said. “There is an active, 24-hour emergency call system so you can summon help in the event of any emergency. This gives you and your family the peace of mind of knowing that help is at hand should it be needed.” TI Homes has over 400 acres of land bank for future development and is currently in the planning stages on what to develop. This article first appeared in The Edge Financial Daily, on November 28, 2014.

Tune Hotels to invest over RM1b in the UK

Tune Hotels to invest over RM1b in the UK

By Lim Kian Wei of The Edge Financial Daily Friday, 28 November 2014 12:48

KUALA LUMPUR: Tune Hotels aims to have 25 hotels across the UK in the next five years, at an investment to the tune of more than £200 million (RM1.05 billion), revealed group chief executive officer Mark Lankester. “When we first entered the UK in 2009 and 2010, we entered into a strategic partnership for London which would result in 10 to 15 hotels amounting to approximately £120 million to £150 million,” he said. “We’ve progressed that further with new partnerships that will result in a further 25 hotels equating to approximately £200 million worth of investments across the UK.” Tune Hotels has opened its latest hotel in the UK in Newcastle, its sixth hotel in the country. “Newcastle is a vibrant city and full of eclectic people and places, perfect for Tune Hotel’s newest location,” Lankester said. The five-floor hotel comprises 104 rooms and is situated in the city centre near the Quayside. The approximately £8 million development capitalises on Newcastle’s growing tourism market. From £25 per night, visitors will enjoy five-star-quality hotel beds and 24-hour security. The building is 600 metres away from the Newcastle Central railway station and easily accessible to Newcastle University and St James Park. Room sizes range between 12 sq m and 15 sq m for double and twin rooms. “As an entrepreneurial company, it is not about being the biggest ... we are an urban fun brand, ideally suited to city centres where guests want to get out and about to explore or need a central location, whether on business or leisure, that won’t break the bank,” Lankester said. “We will be targeting the major business cities across the UK such as London, Manchester, Birmingham and Leeds, as well as looking at key university cities where our concept has proved very popular.” To date, there are also four Tune Hotels in London and one in Edinburgh, Scotland. Tune Hotels have earmarked another hotel in Canary Wharf, London. “Canary Wharf is rapidly becoming the new financial centre of London and in line with that we’ve targeted the opening after the long Christmas and New Year break in January,” he said. This article first appeared in The Edge Financial Daily, on November 28, 2014.

 

Setia Sky Vista with young family concept to open for sale next month

GEORGE TOWN: Phase two of S P Setia Bhd’s Setia Vista development, the RM320 million Setia Sky Vista high-rise in Relau, will be opened for sale on Dec 6. Newly appointed northern region general manager Ng Han Seong said at a press conference that the 426-unit two-tower project will have units priced between RM552,000 and RM800,000. The development is expected to be completed in 2019. “The project has two towers — Tower A with 27 storeys and Tower B with 32 storeys. This is our final development in the Setia Vista development that began in 2008.” The units comprise two- or three-bedrooms with bungalow and semi-detached layouts and designed as starter homes for young couples. The built-ups are 910 sq ft and 1,479 sq ft. “While the first phase comprises 178 two-storey terraced homes, the [Setia Sky Vista], which sits on 6.15 acres (2.49ha) of land, will feature units with 11 layout plans. Earthworks began about three months ago,” Ng said. He said the design of the layout is such that the entrance of each home does not face the opposite unit, while the bedrooms and living room are built in front with a view of the city or hill. The unique feature of Setia Sky Vista is the 60m sky bridge connecting the towers. “Setia Sky Vista’s twin towers are linked by a sky bridge on Level 18, connecting the towers’ viewing decks, and are enhanced by landscaped gardens,” he said. Buyers will have two or three parking  bays each, depending on the cost of their units, Ng said. Though S P Setia is continuously looking for land, it will concentrate on the island, where it presently owns 15 parcels of land of about 150 acres (60ha). “Most of our land parcels are in the southern part of the island. We have land in Balik Pulau, Jelutong, Sungai Nibong and Tanjung Bungah,” Ng said. He said the group would launch its 535-unit Wave project, part of the Setia Pearl Island condominium development, with prices ranging from RM300,000 to RM750,000, next year. This article first appeared in The Edge Financial Daily, on November 28, 2014.

For more information on Building and Construction event, please visit www.asiapacificevents.com 

Setia Sky Vista with young family concept to open for sale next month

GEORGE TOWN: Phase two of S P Setia Bhd’s Setia Vista development, the RM320 million Setia Sky Vista high-rise in Relau, will be opened for sale on Dec 6. Newly appointed northern region general manager Ng Han Seong said at a press conference that the 426-unit two-tower project will have units priced between RM552,000 and RM800,000. The development is expected to be completed in 2019. “The project has two towers — Tower A with 27 storeys and Tower B with 32 storeys. This is our final development in the Setia Vista development that began in 2008.” The units comprise two- or three-bedrooms with bungalow and semi-detached layouts and designed as starter homes for young couples. The built-ups are 910 sq ft and 1,479 sq ft. “While the first phase comprises 178 two-storey terraced homes, the [Setia Sky Vista], which sits on 6.15 acres (2.49ha) of land, will feature units with 11 layout plans. Earthworks began about three months ago,” Ng said. He said the design of the layout is such that the entrance of each home does not face the opposite unit, while the bedrooms and living room are built in front with a view of the city or hill. The unique feature of Setia Sky Vista is the 60m sky bridge connecting the towers. “Setia Sky Vista’s twin towers are linked by a sky bridge on Level 18, connecting the towers’ viewing decks, and are enhanced by landscaped gardens,” he said. Buyers will have two or three parking  bays each, depending on the cost of their units, Ng said. Though S P Setia is continuously looking for land, it will concentrate on the island, where it presently owns 15 parcels of land of about 150 acres (60ha). “Most of our land parcels are in the southern part of the island. We have land in Balik Pulau, Jelutong, Sungai Nibong and Tanjung Bungah,” Ng said. He said the group would launch its 535-unit Wave project, part of the Setia Pearl Island condominium development, with prices ranging from RM300,000 to RM750,000, next year. This article first appeared in The Edge Financial Daily, on November 28, 2014. For more information on Building and Construction event, please visit www.asiapacificevents.com

IOI City Mall aims for two million visitors per month

KUALA LUMPUR: The newly-opened IOI City Mall is aiming for two million visitors per month. It targets to have 85% of the mall leased out by December and to lease out the remaining 15% by Chinese New Year, the mall’s general complex manager Chris Chong told The Edge Financial Daily. The mall, which officially opened on Sunday, has a gross floor area of 2.2 million sq ft and a net lettable area of 1.35 million sq ft. Positioned as a mid-upper-class mall, IOI City Mall will draw visitors from a catchment of about 1.8 million people from the southern corridor of Putrajaya, Cyberjaya, Kajang, Bangi, Seri Kembangan, Serdang, Puchong, Bukit Jalil and Subang Jaya. Tenants include Parkson, Tesco, Index Living Mall, H&M, Monki, Uniqlo and the first HomePro home improvement outlet outside of its native Thailand. The mall’s other unique facilities are an Olympic-sized ice-skating rink and a 70,000 sq ft indoor recreational park called District21. IOI City Mall is part of a 320-acre (129.5ha) development known as IOI Resort City, which will also include two office blocks and a five-star hotel. The Grade-A, Green Building Index-certified office blocks will consist of 29 storeys with a gross floor area of 700,000 sq ft. The towers will be MSC-compliant and connected to IOI City Mall. They are scheduled for completion in 2015. The five-star hotel is named Le Meridien Putrajaya and is intended as a business hotel targeting interstate business travellers. It consists of 21 storeys with 363 rooms and is scheduled for opening in 2016 or 2017. This article first appeared in The Edge Financial Daily, on November 28, 2014. For more information on Building and Construction event, please visit www.asiapacificevents.com

Zerin, Saffron present London’s Royal Dockside

KUALA LUMPUR: This weekend local real estate investment house Zerin Properties Sdn Bhd and London luxury property agent Saffron International will be showcasing the London project Royal Dockside at Docklands. The event will be held at Saffron KL, 73 Jalan Maarof, Bangsar, Kuala Lumpur.

Developed by London developer One Housing Group, the project comprises a series of luxury apartments and penthouses near the upcoming Asian Business Port and London City Airport.
Zerin Properties chief executive officer Previndran Singhe said the development is set to be the next big thing because of its prime location.

“The airport is most [important to] this development, apart from [the development] being a regeneration project,” he said. “People [nowadays] fly in and out for work. Here, the airport is just minutes away. I [believe] investors can expect high capital appreciation of about 30% in the next five years.”

“We liked the Chinese factor, the fact that the Chinese Business Park is literally on your doorstep (400m away) apart from being close to the University of East London and the Docklands Light Railway,” added Saffron director Monty Nawaz.

The Asian Business Port is the result of a deal involving London Mayor Boris Johnson, Chinese developer Advanced Business Park Holding Group and British developer Stanhope plc.

The site is to be redeveloped for an office complex, homes and shops owned mainly by Chinese companies.
The £34 million (RM183.67 million) Royal Dockside will feature 76 units with one- to four-bedroom homes. Prices are from £270,000.

Previndran and Monty said that while the year may start off slower compared with last year, they are optimistic it will gradually pick up with a 4% to 5% increase in London property prices.

The development is already 57% taken up from its previous launches last year in March (Hong Kong) and May (Kuala Lumpur). However, these were prior to the port’s approval.

The development will sit on 1.11 acres (0.44ha) of leasehold land and is due to be completed in the first quarter of 2016.

For more information on Building and Construction event, please visit www.asiapacificevents.com

Best Western hotel opens in Shah Alam

SHAH ALAM: Best Western International, one of the world’s largest hotel chains with 4,000 hotels in over 100 countries, has opened its first hotel in Shah Alam. Best Western i-City Shah Alam is in the 72-acre (29ha) i-City next to i-City Waterworld. i-City is developed by I-Bhd. “As Selangor’s capital, Shah Alam is a key economic hub in Malaysia. Located just 25km from Kuala Lumpur and 30km from the Kuala Lumpur International Airport, the city is at the heart of the country’s development and provides an ideal setting for Best Western’s new generation of contemporary hotels,” said Best Western International senior vice-president of brand management and development, Ron Pohl. The RM50 million development features an 18-storey building with 214 guest rooms and suites comprising 144 superior rooms (priced at RM450 nett), 58 deluxe rooms (RM500 nett) and 12 suites (RM700 nett). The rooms range from 19 sq m to 35 sq m in size. “Malaysia is an incredibly exciting market for Best Western International. With five hotels already open [in Kuala Lumpur, Ipoh, Kota Kinabalu and Sandakan], and eight more in the pipeline, we look forward to serving the needs of our guests,” Pohl said. This article first appeared in The Edge Financial Daily, on January 9, 2015. For more information on Building and Construction event, please visit www.asiapacificevents.com