By Sharen Kaur
Published in NST on August 14, 2014
Published in NST on August 14, 2014
PUTRAJAYA is the world’s first “Intelligent Garden City”.
It has an infrastructure of sophisticated information networks based on multimedia technologies which made history in Malaysia’s modern city planning.
Putrajaya, which covers 4,931ha, was conceived in 1993 as the administrative centre for Malaysia.
Previously, palm oil plantations dotted the area. Today, it is a spectacular city and home to various ministries, government departments and agencies, hotels, small and medium enterprises, and more than 70,000 households.
The master plan is designed along an axial tangent which runs from the northeast to the southeast on gently undulating terrain.
About 40 per cent of Putrajaya is natural. Lush greenery, botanical gardens and parks are spread across landscapes enhanced by large bodies of water and wetlands.
Another impressive feature is the uniquely designed bridges that span the various points of the sprawling Putrajaya Lake.
Although the federal administrative capital officially moved here in 1999, Putrajaya is still far from complete.
There are a few property developers with ongoing projects here and that includes Putra Perdana Develop ment Sdn Bhd (PPD), the property development arm of Putrajaya Perdana Bhd.
Green developer
PPD is one of the foremost green property developers that built D’Heron at The Lake, which is the first “energy efficient-BIPV residences” in Malaysia.
The company has proven itself in meeting clients’ expectations for high-quality end-to-end construction and development solutions since its inception in 1998.
PPD’s current project is Danau Mutiara, comprising bungalows, semi-detached (semi-D) units and zero-lot bungalows.
The project has a gross development value (GDV) of RM200 million.
PPD chief executive officer Ahmad Ridzal Ahmad said the company has several projects in the pipeline which will enhance the value of existing developments.
He said future developments at Precinct 16 will be launched soon.
These include Parcel 6, comprising bungalows, and Parcel 25, featuring semi-Ds, bungalows and hillside condominiums.
Ahmad Ridzal said these developments will have an estimated GDV of RM500 million.
He said the hillside condominiums will be a green building index (GBI) development and will incorporate a wellness centre.
On the key selling points for each project, Ahmad Ridzal said the projects will be GBI-rated and have good accessibility via various highways, including Maju Expressway.
He said they will also have quality finishing with construction quality assessment system rating, and established neighbourhood facilities, such as a fully-equipped community centre, mosque and schools.
“We will offer contemporary and high-end two-and-a-half-storey bungalows and zero-lot bungalows as well as semi-Ds. We expect many to grab our product offerings.
“We are offering a serene locality, peaceful community and lush landscaping. The houses are within walking distance to Putrajaya Lake,” he told Property Times.
Ahmad Ridzal said the projects are also within minutes by car from Alamanda shopping complex.
PPD is targeting to achieve a revenue of RM118 million this year from the sale of current projects and new launches.
For Danau Mutiara, the company has achieved 70 per cent of its GDV since its launch in May.
“Sales so far have been very encouraging. We expect to recognise a certain amount of revenue from Danau Mutiara this year.”
Ahmad Ridzal said sales were driven by the company’s participation in property expos and related events, targeted marketing and direct approach with prospective buyers.
PPD also offered incentives, such as bearing the legal fees and giving rebates of up to RM10,000.
“Cooling measures have impacted properties in the price range of RM1 million, mainly high-rise developments.
Landed properties are still sought after and this is where we have the advantage.
“On the Goods and Services Tax (GST), we expect there will be an increase in sales a few months before the implementation. After the implementation, we will probably see a slowdown before sales pick up again, as seen in countries which implemented GST,” said Ahmad Ridzal.
Expectations for 2015 Budget
Ahmad Ridzal is expecting more incentives for developers and house buyers in the 2015 Budget.
He hopes there will be no further dampening effects on developers and buyers as everyone has to deal with GST and the rise in real property gains tax announced in the 2014 Budget.
Ahmad Ridzal said rising cost of living and doing business, subsidy rationalisation and GST are among the factors that should be taken into consideration when formulating the 2015 Budget.
“We hope the government will develop more affordable houses in the Klang Valley and provide incentives for property developers to undertake these projects, such as easier end-financing schemes.
“We also hope the government will allow first-time buyers to enjoy the Developers Interest Bearing Scheme.”
Ahmad Ridzal said the 2015 Budget should also encourage banks to ease lending to house buyers, especially first-timers, as people are facing difficulty in obtaining loans
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