By Sharen Kaur
sharen@nstp.com.my
Published in NST on February 5, 2013
PETALING JAYA: Asian Pac Holdings Bhd aims to launch three new projects this year worth close to RM700 million as it remains upbeat on the outlook for the property sector.
While real estate tends to be a particularly cyclical sector, going up or down based on trends in the economy such as the fluctuation in interest rates, it is still a large field generating billions of ringgit in revenues, said Asian Pac chairman Tan Sri Megat Najmuddin Megat Khas.
Property developers in Malaysia have shown earnings resilience, supported by increased sales between 2010 and 2012.
TA Securities opined that the property market will grow further this year, driven by factors that include catalytic projects under the Economic Transformation Programme (ETP) and the economic corridors.
Asian Pac's first few projects to be launched this year will include Fortune Perdana @ Lakeside in Kepong, a development worth RM370 million.
To be launched next month, it will comprise 36 units of shop offices worth an average of RM1.8 million each, and three blocks of serviced residences featuring 570 units, each worth between RM400,000 and RM650,000.
Asian Pac is also planning a mixed development in Kepong consisting of 420 apartment units and 28 shoplots worth a combined RM250 million.
The project, which is slated for launch by the end of this year, will be on the last piece of land owned by Asian Pac in the area.
Bursa Malaysia-listed property developer bought 40-odd hectares in Kepong in 1998 and the township is nearing completion.
In Johor Baru, Asian Pac will launch three-storey shop offices worth about RM60 million at Dataran Larkin, which is its on-going development, by the year-end.
Meanwhile, Najmuddin expects demand for new housing to tilt towards landed and high-rise homes worth more than RM500,000 as buyers look for neighbourhoods with good security, infrastructure and amenities.
He believes in the old adage "location, location, location", adding that among the factors determining the quality of a location are access to public transportation, roads and amenities, as well as income levels, stability and success of the local economy.
"At Asian Pac, we are looking for prime land but it has become very competitive because all the developers want a piece of it," Najmuddin told Business Times in an interview yesterday.
"We are looking for land in Greater Kuala Lumpur, Johor and Sabah. Iskandar Malaysia is a thriving region but properties there have become very expensive. There are developers looking to sell pockets of their land in Johor and we are looking at the opportunities available," he said.
Najmuddin added that Asian Pac will consider buying up to 80ha not only in Iskandar Malaysia but also in east Johor.
The eastern part of Johor is set to become one of the leading oil and gas hubs in the world, driven by Petronas' RM60.6 billion Refinery and Petrochemicals Integrated Development (RAPID) project.
sharen@nstp.com.my
Published in NST on February 5, 2013
PETALING JAYA: Asian Pac Holdings Bhd aims to launch three new projects this year worth close to RM700 million as it remains upbeat on the outlook for the property sector.
While real estate tends to be a particularly cyclical sector, going up or down based on trends in the economy such as the fluctuation in interest rates, it is still a large field generating billions of ringgit in revenues, said Asian Pac chairman Tan Sri Megat Najmuddin Megat Khas.
Property developers in Malaysia have shown earnings resilience, supported by increased sales between 2010 and 2012.
TA Securities opined that the property market will grow further this year, driven by factors that include catalytic projects under the Economic Transformation Programme (ETP) and the economic corridors.
Asian Pac's first few projects to be launched this year will include Fortune Perdana @ Lakeside in Kepong, a development worth RM370 million.
To be launched next month, it will comprise 36 units of shop offices worth an average of RM1.8 million each, and three blocks of serviced residences featuring 570 units, each worth between RM400,000 and RM650,000.
Asian Pac is also planning a mixed development in Kepong consisting of 420 apartment units and 28 shoplots worth a combined RM250 million.
The project, which is slated for launch by the end of this year, will be on the last piece of land owned by Asian Pac in the area.
Bursa Malaysia-listed property developer bought 40-odd hectares in Kepong in 1998 and the township is nearing completion.
In Johor Baru, Asian Pac will launch three-storey shop offices worth about RM60 million at Dataran Larkin, which is its on-going development, by the year-end.
Meanwhile, Najmuddin expects demand for new housing to tilt towards landed and high-rise homes worth more than RM500,000 as buyers look for neighbourhoods with good security, infrastructure and amenities.
He believes in the old adage "location, location, location", adding that among the factors determining the quality of a location are access to public transportation, roads and amenities, as well as income levels, stability and success of the local economy.
"At Asian Pac, we are looking for prime land but it has become very competitive because all the developers want a piece of it," Najmuddin told Business Times in an interview yesterday.
"We are looking for land in Greater Kuala Lumpur, Johor and Sabah. Iskandar Malaysia is a thriving region but properties there have become very expensive. There are developers looking to sell pockets of their land in Johor and we are looking at the opportunities available," he said.
Najmuddin added that Asian Pac will consider buying up to 80ha not only in Iskandar Malaysia but also in east Johor.
The eastern part of Johor is set to become one of the leading oil and gas hubs in the world, driven by Petronas' RM60.6 billion Refinery and Petrochemicals Integrated Development (RAPID) project.
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