Energising the kitchen for healthy, happy life

Published in NST Property on August 23, 2018

WHERE should you place appliances in the kitchen and what are the right locations for doors?

Are there specific colours and materials to use in your Feng Shui-style kitchen in order to bring health and good fortune into your home?

Designing or arranging kitchens through Feng Shui may take a lot of efforts but thankfully, the ancient Chinese wisemen are there to help us develop cures and techniques to balance energies.

The dining area should not be located under a beam or hanging pots.

With the right use of Feng Shui elements, you can take advantage of the variety of cures and techniques to improve the energies in your home.

Even if your kitchen is not facing the correct direction or your door is in the wrong place, the trick is to use certain objects, colours and materials to balance the situation.

Your kitchen should never face the main door and should not be located in the centre of the house. It is better that your kitchen is located near the back door and in the east or south of the house in order to promote the fire element.

Don’t worry too much if your kitchen was built in the centre of the house. All you have to do is reenergise the area with bright lights and play some music occasionally to lighten the mood.

Feng shui experts say that water-element appliances, such as fridge, dish washer and waching machine, and those of fire-elements like stove and oven shouldn’t be placed next to each other. But if there is no choice due to small space, place something in between the appliances, such as a plant or a screen to balance the energies.

If you have a bathroom just above the stove, shine a bright light upwards to separate fire and water.

A positive kitchen brings loved ones together.

Also in Feng Shui, it is considered unwise to position water-linked objects such as a sink opposite a cooker or adjacent to it. You can hang wooden cooking utensils between the sink and the cooker, or simply place a plant next to the cooker.

Another potential source of qi cutting is the hood from an extractor unit which is often placed at the head level or higher. If the hood is bearing down directly on you, place a faceted crystal sphere on its corner. You will feel comfortable knowing that there qi circulating in the kitchen.

If you have a dining area in the kitchen, the correct position and layout can bring great harmony and communication to the members of a household.

A layout which includes a round or oblong table surrounded by an even number of chairs is the best combination for managing a healthy, vibrant environment. Just make sure the dining area is not under a beam or hanging pots.

If you like, place meaningful objects that reflect positive qi such as family holiday images and pets.

Make the kitchen a place everybody wants to be in.

Finally, the kitchen must be bright. Let direct sunlight in. Don’t cover the windows with thick fabric curtains as the kitchen will look dull and this may spoil your cooking as you will be affected by the gloomy environment. But if there is a tall building behind your kitchen and it is blocking the sunlight, then place some ceiling lights to soften the mood.

Basically, if your kitchen is done properly according to Feng Shui practices, you can lead a healthier and happier life.

Let direct sunlight into the kitchen or place ceiling lights to soften the mood.

Skyrocketing prices, credit score among key issues

Poor credit score is a major issue for first-time house buyers.

Published in NST Property on August 23, 2018

THE underlying issue of the inability to afford a property among Malaysians lies with skyrocketing prices and buyers’ poor credit score.

Because of these many prefer to rent instead, according to PropertyGuru Malaysia.

Affordability is indeed a major issue in the local property industry. Low-to-middle-income earners are facing difficulties in obtaining loans and have no other option but to rent.

There are also married couples with young children who still live with their parents. This is despite the thousands of affordable houses available in the market.

“The government has been on its toes in tackling the housing affordability woes faced by most property seekers. In its manifesto, it (the Pakatan Harapan government) aspires to build one million affordable homes within two terms to help put roofs above many heads,” said PropertyGuru.

One of the government initiatives to help those who rent and the Bottom 40 per cent (B40) group earners is the rent-to-own (RTO) scheme.

The RTO scheme may be able to help low-to-middle income earners as it fits their budgetary needs.

In a RTO arrangement, the landlord can be a “landlord-seller” while the tenant a “tenant-buyer”. Basically a tenant can rent the property for two to three years with an option to buy it later.

“However, the tenant must make an agreement with the landlord prior to renting the property for this kind of arrangement to avoid any issues later. Some landlords may decide not to sell their property after renting it out for two or three years as they see the value increasing and they want to make a higher profit,” said a property consultant.

HOUSES TOO EXPENSIVE

Housing and Local Government Minister Zuraida Kamaruddin said last month that the local market has too many high-end houses.

Housing and Local Government Minister Zuraida Kamaruddin says the local property market has too many ‘high-end’ houses.

She said her ministry would study the matter to deal with the situation.

Bank Negara Malaysia said on Factwatch.my in May that houses priced between RM300,000 and RM500,000 are beyond affordable to households earning the median income in Malaysia.

It said the maximum price of an affordable house is RM282,000, given the 2016 median household income of RM5,228, as published in the Statistics Department’s Household Income and Expenditure Survey.

Bank Negara was responding to a report quoting the Real Estate and Housing Developers’ Association (Rehda) which had categorised affordable houses as in the range of RM300,000 to RM500,000.

Rehda Institute, the training and research arm of Rehda, has recently proposed the RM200,000-RM500,000 range, depending on a property’s locality, as threshold prices for affordable housing in Peninsular Malaysia.

For Kuala Lumpur and the Klang Valley, the proposed threshold price is RM500,000, while for Selangor, Penang Island and Johor Baru, it is RM400,000.

The proposed threshold price for Johor, Melaka and Negeri Sembilan is RM350,000; Terengganu, Kedah, Perak, Perlis and Pahang RM250,000; and Kelantan RM200,000.

According to its research report, there hasn’t been much demand for affordable housing, with 14,739 units priced below RM500,000 remaining unsold up to the first quarter of this year.

It had identified nine structural problems in the affordable housing system - a fragmented and unlevel playing field; rigid housing policies; unsuitable locations; land price; uneven cross-subsidy; rising development cost; unproductive use of public resources; low financial capacity for B40 and Middle 40 income groups; and absence of housing market data.

NEW HOUSING POLICIES

The new National Housing Policy 2.0, which is expected to be announced next month, will see several changes taking place to boost the property market.

It will contain elements that will make it easy for people to own a home.

National Housing Department director-general N. Jayaselan said at the Affordable Housing Conference 2018 last month that the new national housing policy would focus on reducing house prices by lowering compliance costs.

The compliance costs include contributions for utilities like Tenaga Nasional Bhd, Syarikat Bekalan Air Selangor Sdn Bhd and Indah Water Konsortium Sdn Bhd, developer charges, land conversion premiums, infrastructure contribution, surrender of land and construction of facilities.

Developers are hopeful that the compliance costs will be reduced once the Sales and Service Tax is reintroduced on September 1.

Bandar Rimbayu - Blossoming township

Rimbayu Clubhouse will open by January 2019.

The Swans development is the 11th phase in the Bandar Rimbayu township.

An artist’s impression of Rimbayu Pool.

The commercial zone in Bandar Rimbayu.

Persiaran Rimbayu is connected to the ELITE and SKVE highways.

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By Sharen Kaur - August 23, 2018 @ 3:18pm

ONE of the hottest spots for township development in Klang Valley’s southwest development corridor is the RM11 billion Bandar Rimbayu in Telok Panglima Garang.

Since the unveiling of the township in 2013, developer IJM Land Bhd has launched 10 phases thus far, including Perennia, Periwinkle, Scarlet, Wisteria, Penduline, Blossom Square and Livia.

Bandar Rimbayu has more than 2,500 property units, with two phases of shops totalling 136 units.

Bandar Rimbayu senior general manager Chai Kian Soon said once the township is fully completed, the population is anticipated to swell to 50,000 people.

“Accessibility is, and always will be, an important factor when choosing a house. It is one of the main things that we look at prior to the approval of developments.

“It is connected to the Elite highway and South Klang Valley Expressway, making commuting easier for those who live here. It is 25km from the Kuala Lumpur International Airport and Kuala Lumpur International Airport 2, and 17km from Putrajaya,” said Chai.

Telok Panglima Garang has attracted leading developers in the country, such as Eco World Development Group Bhd (Eco Sanctuary township development) and Tropicana Corp Bhd (Tropicana Aman).

They are building mainly landed residential properties.

Meanwhile, the 11th phase of Bandar Rimbayu called “Swans”, will be launched soon.

The leasehold development, with a gross development value (GDV) of RM170 million, will offer 195 units of double-storey link-houses with four bedrooms and four bathrooms, priced from RM850,000 each.

Chai said the houses will have built-up areas of 2,300 sq ft.

“People are responding very well to the beautiful homes. We believe the take-up for Swans will be equally encouraging.

“Swans will come with an Internet of Things infrastructure that will satisfy the needs of younger homeowners,” he said at a briefing last month.

Residential property market to remain strong

IJM Land managing director Edward Chong expects demand for landed residential properties to remain strong despite the challenging market.

He said landed properties below RM1 million are doing well while high-rise apartments in good locations priced from RM700,000 to RM800,000 are also in demand.

“The general consumer sentiment is positive and confidence has improved. We expect to see stronger take-up rates in coming months. It won’t be a steep growth, but the momentum will continue.”

IJM Land has landbank totalling 1,619ha nationwide with an estimated GDV of RM30 billion.

The company’s current projects and landbank are in Penang, Klang Valley, Johor, Seremban, Sabah and Sarawak.

It is planning to launch several projects in the next few months worth about RM1.5 billion in its townships in Klang Valley, Penang, Johor, Sabah and Sarawak.

Chong said almost 85 per cent of the new launches will feature residential units.

“We are mainly involved in township development which involves all segments of residential units. We have the flexibility of not going ahead with high-rise apartments.”

Meanwhile, Chai said Bandar Rimbayu is targeting families from mid and high incomes who are looking to live balanced lifestyles.

“They are looking for homes close to nature as well as a safe and supportive community. Everyone here would agree that Bandar Rimbayu is a beautiful place, considering how the it is well planned with an array of facilities.”

Chai said prices of previous launches have gone up.

A Perennia unit can be sold from RM1.67 million, Periwinkle from RM1.06 million, Scarlet from RM1.09 million, Wisteria from RM936,800, Penduline from RM769,800, Blossom Square from RM1.59 million, and Livia, from RM626,800.

“Since affordability is an issue, we have homes for families with a monthly income of below RM3,000 and for those earning between RM3,000 and RM10,000. People are finding it harder to own a property nowadays.

“All of us at Bandar Rimbayu are aware of the affordability aspect. Hence, we support the government’s efforts to make houses more affordable for Malaysians, especially the younger generation.

“This initiative is reflected through the development of Halaman 11, where two types of homes are built. The ‘Rumah Selangorku’ project has three bedrooms and two bathrooms and will cater for those with a household income of below RM3,000 (priced at RM42,000, 721 sq ft) and between RM3,000 and RM10,000 (priced at RM100,000, 764 sq ft),” said Chai.

He said the two options are a solution for the lower-income group.

“We have gone through the first batch of unit selection for approved Rumah Selangorku applicants. A total of 47 names have been given to us and 43 units were sold on the first day itself.”

Bandar Rimbayu scaling up

Rimbayu Clubhouse in the 760ha township will be officially opened by January next year.

According to Chai, a drive-through Wendy’s and Starbucks will also open by the second half of next year.

“It is not common to have a residential clubhouse and Bandar Rimbayu has one. Clubhouses in general have many features for families to enjoy. There will be a number of amenities and activities at this clubhouse.”

Some of the facilities are an infinity Olympic-sized swimming pool, an infinity wading pool with water play equipment, a jacuzzi, a sauna, four badminton courts, two squash courts, a karaoke room/audiovisual room, a gaming room, a gym, a linear park and a cafeteria.

“We are very excited to bring this aboard and are doing our best to ensure that the clubhouse will be tentatively opened by January next year. Residents in Bandar Rimbayu and surrounding areas will have a place to chill out with their family members,” added Chai.

The township’s commercial phase, Blossom Drive, has started welcoming new tenants.

Blossom Drive comprises 48-units of two- and three-storey shoplots with built-up areas ranging from 3,000 sq ft to 6,855 sq ft.

“Blossom Drive is a vast commercial unit built to cater to families in the area. We wanted to be sure that people in Bandar Rimbayu can find anything within reach. Hence, the development of the Blossom Drive.

“Some of the tenants are 99 Speedmart, a clinic and ‘mamak’ restaurants.”

Chai said Blossom Square, next to Blossom Drive, will be completed in the middle of next year, and will see an additional 88 units of two- and three-storey shoplots.

“Blossom Square will give more opportunities to businesses to thrive in Bandar Rimbayu.”

The Oasis International School, the newest American-based school in Bandar Rimbayu, accepted its first intake on August 1.

Chai said the school offers extensive extracurricular activities involving sports, scholastic team competition and visual and performing arts.

The school has an innovative academic model and a variety of curricular and co-curricular programmes taught by American educators.

Call to embrace low-carbon, development approaches

Unveiled in 2007, the Green Energy Office (GEO) building, home to GreenTech Malaysia, is the first of its kind in the country.

By Sharen Kaur - Published in NST Property on August 23, 2018

EMBRACING low-carbon development approaches for cities and townships is the key towards making Malaysia a climate-resilient green economy.

Malaysian Green Technology Corp (GreenTech Malaysia) group chief executive officer Dr Mohd Azman Zainul Abidin said various efforts are being made to lead the nation’s green technology landscape, through impactful projects under three flagships — Government Green Procurement, Electric Mobility and Sustainable Living.

In 2011, the energy, green technology and water ministry (now known as the Energy, Technology, Science, Climate Change and Environment Ministry) introduced the Low Carbon Cities Framework (LCCF) to guide local authorities and developers in making decisions on greener solutions.

It is aimed at achieving sustainable development, reducing carbon emissions in cities and townships and contributing towards the national commitment to reducing up to 40 per cent of greenhouse gas (GHGs), in terms of emission intensity by gross development product, by 2020 against the 2005 levels.

The first phase of the LCCF involved five cities including Iskandar Malaysia in Johor, Hang Tuah Jaya in Malacca, Petaling Jaya in Selangor and Miri in Sarawak.

One of the pioneering and flagship green townships is the federal government administrative centre of Putrajaya.

Putrajaya took the lead in becoming a sustainable low-carbon city, with a goal of reducing its GHG emissions intensity by 60 per cent by 2025, compared with 2012 levels, and making the city cooler by two degrees celcius.

Many government buildings in Putrajaya have adopted green-building standards and are rated by the Green Building Index. The other initiatives implemented include the installation of photovoltaic solar panels on selected government buildings, widespread use of LED lightings, activation of electric buses, extension of bicycle lanes, placement of composting machines and the introduction of urban farming.

Azman told NST Property that the aspiration for the LCCF is for all 154 municipalities in Malaysia to adopt the framework by 2020 as a measure to become low-carbon cities in the long term.

The target is to cut carbon dioxide (CO2) emissions by up to 45 per cent by 2030.

“The LCCF provides the necessary tools to assist local authorities and developers in implementing carbon reduction strategies in a systematic and impactful manner,” he said.

According to Azman, 2017 was a fruitful year for the LCCF, which saw the participation of 56 local authorities, universities and special zones.

He added that most of the reduction obtained by the local authorities this year were from activities related to energy and water consumption reduction, energy management, waste reduction and separation as well as tree planting.

“Since 2011 until 2017, a lot of new municipalities came on board the LCCF programme, with 28 local authorities undergoing awareness and introduction to the programme in Phase 1.

“Two local authorities, Hang Tuah Jaya Municipal Council and Subang Jaya Municipal Council, as well as two universities, Universiti Malaya and Universiti Teknologi Malaysia, underwent implementation of their LCCF actions plans and blueprints to reduce their carbon emissions.

“GreenTech Malaysia will continue to encourage participation from new municipalities throughout Malaysia this year and carry more municipalities into ‘Phase 3: Blueprint Implementation’, as well as encourage higher reductions in CO2 emissions throughout the programme,” said Azman.

GreenTech Malaysia is a government agency under the purview of the Energy, Technology, Science, Climate Change and Environment Ministry.

Established in 2010, its mandate is to spearhead the development and promotion of green technology as a strategic engine for socio-economic growth, in line with Green Technology Master Pan 2017-2030.

SUSTAINABLE LIVING

Sustainable living is the practice of reducing the demand on natural resources by making sure that people replace what they use to the best of their ability.

Azman said: “Sometimes that can mean not consuming a product made through practices that don’t promote sustainability, and sometimes it means changing how you do things so that you start becoming a more active part in the cycle of life.

”For example, when brushing our teeth, use a cup of water to rinse the mouth instead of leaving the tap on all the time. Also, collect rain water for gardening purposes and to clean the outside of your house.

“Another example is energy. Walk up or down the stairs instead of using the lift, especially if it involves just a few floors. Switch off and unplug electrical appliances at the source when not in use. Set your air-conditioner temperature at 24 degrees Celsius instead of lower. Retrofit lighting to LED bulbs. Consider purchasing appliances with a five-star energy rating. There are so many things that you could do to save on energy.”

Azman said other ways to promote sustainability are through waste, transportation and building.

He suggested that people use public transportation services, such as light rail transit (LRT), mass rapid transit (MRT), monorail or buses to move around, or carpool with colleagues, friends and family members, as fewer cars on the road will help reduce greenhouse gas emission.

“For our home, we should look at improving air flow or ventilation to avoid trapped heat inside the property. Additionally, open your blinds or curtains during the day to let the light into the house.

“Paint the interior of house white for better light reflection and have plants native to your area as they are often cheaper than non-native species and require less water to thrive. If everyone starts to do all these, the country can become a low-carbon, climate-resilient green economy,” Azman said.

He added that reducing energy consumption, using alternative energy sources and recycling reduce the strain on the country’s natural resources and cut down on carbon emissions.

“Basically, going green in the long term would contribute to cleaner water and air (resulting in improved health), preserve natural resources and reduce the impact of global warming.”

The Green Energy Office (GEO) building, located at Seksyen 9, Bandar Baru Bangi, and home to GreenTech Malaysia, is the first of its kind in the country that looks at sustainability.

The GEO building was built with advanced green technologies, sustainable energy solutions, innovative energy management systems and rainwater harvesting systems.

A model for designing and building sustainable green spaces in the region, the construction of the GEO building was funded by the Malaysian government with the support from the United Nations Development Programme, through the Global Environment Facility, and the EC-ASEAN Energy Facility.

Met Galleria caters to retail demand

(From left) Naza TTDI Sdn Bhd chief operating officer Datuk Idzham Mohd Hashim, Naza Corp Holdings Sdn Bhd deputy chairman SM Faliq SM Nasimuddin and its chairman SM Nasarudin SM Nasimuddin launching Met Galleria.

By Sharen Kaur - Published in NST Property on August 23, 2018

MET Galleria, which was launched last month, will cater to the residents of MET 1 Residences, workers from nearby office towers and High Court, as well as visitors to the Malaysia International Trade and Exhibition Centre (Mitec).

The two-storey upmarket lifestyle mall, built within the RM20 billion KL Metropolis’ Met 1 building, will also cater to affluent Mont Kiara residents.

Met Galleria, with a gross development value (GDV) of RM160 million, is the first retail component for KL Metropolis, a 30-6ha mixed-use development — the largest trade and exhibition destination in Malaysia.

The mall has more than 80,000 sq ft of net lettable area set in a modern colonial setting.

Naza TTDI executive director and chief operating officer Datuk Idzham Mohd Hashim said Met Galleria was designed with future retailers in mind.

“We build to cater to the existing demand in our KL Metropolis area. We are focusing on the existing catchment as we will be having serviced residences, corporate towers and existing government offices surrounding Met Galleria.”

A unique characteristic of Met Galleria is the double ground floor concept — one fronting Mitec and the other fronting the High Court, he said at the launch.

Currently, 40 per cent of Met Galleria’s lettable area is dedicated to food and beverage, while 20 per cent has been planned for retail concept stores.

The remainder of the space will be distributed among anchor tenants (15 per cent), services (15 per cent), and the rest for showrooms and kiosks.

Idzham said other than Met Galleria, Naza TDDI will be confirming details of the components for KL Metropolis soon.

“Pioneer investors are poised to reap the most rewards as these upcoming announcements are expected to incrementally push the market value of both residential and commercial components at KL Metropolis.”

The commercial value of KL Metropolis has been cemented by Mitec when the Mice (meetings, incentives, conferences and exhibitions) venue officially opened its doors last year.

Mitec is not the only commercial component.

The MET Corporate Office Towers is another commercial development currently under construction. Developed by Triterra Metropolis Sdn Bhd, The MET is the first Grade A stratified corporate office towers in KL Metropolis, with two towers standing at 30 and 42 floors, respectively.

Meanwhile, MET 1 Residences, launched last year with 616 units (677 to 1,613 sq ft), is the first residential component at KL Metropolis.

There is another residential component called Arte Mont Kiara. This is a serviced residence developed by Nusmetro Sdn Bhd, a joint-venture partner of Naza TTDI.

Arte Mont Kiara has 1,706 serviced residences units with built-up ranging from 422 to 1,142 sq ft.

Taboos during Hungry Ghost month

Published in NST Property - August 16, 2018 

THE Hungry Ghost Festival has started and there are several taboos that households should not ignore during this period.

In Chinese folk legend, the seventh lunar month is the Ghost Month and marks the opening of the Gates of Hell.

This is when the spirits of the dead freely roam in the land of the living for an entire month.

During this period, Buddhist and Taoist devotees hold special prayers and submit offerings to the guardians of hell and the spirits as a mark of respect. This is when you see devotees offering their prayers by the roadside at night.

Avoid spitting at trees or plants. (File pix)

This year, the Hungry Ghost Festival falls from August 11 to September 9. During this period, the Chinese will observe a number of rituals and superstitions — mainly focused on things that should be avoided.

• Avoid buying any property during this period as it is believed to bring you bad luck. You can look around for properties and shortlist one, but sign legal agreements after the festival ends.

• If you can, don’t move house during the Hungry Ghost Festival.

• Do not open an umbrella, especially a red one, in the house because wandering ghosts might seek “shelter” under it and cause disturbance.

Do not open an umbrella, especially a red one, inside the house. (File pix)

• Do not commence your renovation works (in your existing home or new property) in the seventh lunar month as it might cause disturbance.

Do not commence your renovation works during the Hungry Ghost Festival as it may cause disturbance. (File pix)

• Avoid staying out too late at night. Try to be at home by sunset, especially if you are alone. According to an old belief, ghosts are at their strongest in the night because the “yin” energy from the moon strengthens them, whereas the “yang” energy from the sun weakens them. It is best that you wash your feet before you enter the house.

• Avoid spitting at any tree/plant that is within your house compound or outside (or just about anywhere).

Don’t lean against the wall. (File pix)

• Don’t lean against the wall (any wall). Apparently, spirits like to stick to walls because they are cooler.

• Do not kill any insects that come into your home.

Do not kill any insects that come into your home. (File pix)

According to the Chinese belief, insects are reincarnation of spirits or could be your departed loved ones who are visiting you. Killing them is disrespectful.

• Do not hang your clothes overnight as they easily attract spirits.

• Do not play games that can attract spirits such as Ouija board.

The Return of Country Heights

By Sharen Kaur - Published in NST Property July 26

 

THE Mines Resort City in Seri Kembangan, Selangor, developed by Country Heights Holdings Bhd (CHHB) since the late 1980s, is in the midst of a building boom.
Two massive projects are expected to commence construction this year which will see the Mines transforming into a world-class functional, liveable and productive city.

Palace of the Golden Horse

Property magnate Tan Sri Lee Kim Yew, who founded CHHB in 1984 and is the group executive chairman, is venturing into new businesses to help turn around the real estate firm and double its size.
He said to rebuild CHHB, up to RM1 billion is required to kick-start four new business ventures and hire more staff.
The ventures are restrategising the group’s hospitality and resorts segment, developing the Grand Wellness hub and Mines Car City Centre (MCCC) in the Mines and setting up the Cheng Ho Islamic Trade and Financial Centre in Melaka. All these projects will have futuristic buildings with innovative designs never seen before in Malaysia.
The Grand Wellness hub and MCCC are expected to generate more than RM3.5 billion in gross development value (GDV).
“Each venture or business unit will have its own chief operating officer, general manager and deputy general manager so that they are managed professionally. My aim is for each business unit to go for listing in the near future. This means in the next three years or so, CHHB will have four listed entities that will contribute to the group’s bottom line,” Lee told NST Property.
He said he may explore a backdoor listing as an option.
“The companies will be professionally managed. My family will only have a shareholding.”
Lee has more than 30 years of experience in developing residential, industrial park, hotel, leisure, commercial and recreational projects.
He aims to raise a RM1 billion “war chest” for the new ventures.
“We are talking to several investors who are keen on the four business ventures. We require between RM200 million and RM250 million to kick-start each venture. Each project will be self-funding after it has started. That is why we are integrating cars and trade centres with real estate so we could make money from property sales.
“The war chest is a standby fund. The faster we get the funds, the quicker it will be for us to complete the four developments so they can start contributing to the group’s bottom line.”
Lee said the company has a proven track record where it is able to build a property in less than 12 months.
The longest development period by CHHB was the Palace of the Golden Horses which took 18 months because of some issues.
“Otherwise, almost all the properties took less than 12 months to build. My target is for the four new business ventures to be completed within two to three years.”

Mines Car City Centre

The biggest of the four ventures is MCCC, with a GDV of RM2 billion.
“The MCCC is targeted to break ground this year, with an initial capital of RM250 million,” said Lee.
About RM30 million is allocated for Phase 1 to upgrade the 2.5 million sq ft-Mines International Exhibition and Convention Centre (MIECC), while Phase 2 involves acquiring more land and developing the MCCC, he said.
He estimated the total cost of the project to be RM700 million and the targeted completion to be within 24 months.
The project, which will be supervised by Lee’s son and group executive director, Lee Thai Young Matahari, will see MIECC transforming into MCCC, touted to be the first and largest automotive expo centre in Asean.
“I am selling the idea to my second generation to build the car culture and lifestyle, and to create a hub that can host four to six automotive exhibitions a year. There will be space for used cars and car auctions just like how they do it in Japan.
“We will also have a mall focusing on cars. The ground floor will have car showrooms and shops selling car accessories. We will also develop a classic car trading platform. Apart from that, we are also looking at building a theme park, again focusing on cars, or maybe a water park.”
One of the interesting features of the MCCC is the proposed grand vehicle ramp, akin to Lombard Street in San Francisco.
Lee said there will be a Phase 3 for MCCC, which involves acquiring and developing 4.8ha of adjoining land.
This is where CHBB will build 900,000 sq ft of serviced apartments, 800,000 sq ft of commercial retail space, rooftop driving range, an 88-room boutique hotel, banking and insurance centre, electric car charging hub and light maintenance centre.
“We want to create MCCC as a platform for CHHB to grow. I am merging two big industries, that are car and real estate, and creating a lifestyle. We will build serviced apartments for the middle- to high-end market and I am quite confident they will sell like hot cakes.
“We have a golf course at the Mines. I understand that 70 per cent of luxury car owners like the BMW, they like to play golf, so I think we have the right products to attract owner occupiers and investors.
“We are also planning to build a full-serviced boutique hotel, like Bentley’s Boutique Hotel, to attract discerning travellers. If the MCCC is done well, we plan to duplicate the idea in Indonesia and other parts of the world,” said Lee.
CHHB is also talking to Goldenport Holdings Inc — the parent firm of China Grand Touring (GT) Championship — to host an Asean GT festival at the MCCC, and for the firm to potentially invest in the project.
The aim is to set up an Asean GT at the Mines to bring in racers from around the world to fill the void left by the removal of the Formula One race in Sepang.

Grand Wellness hub

Lee said for the wellness hub, besides anti-ageing and aesthetics facilities, there will be apartments, a retirement village, shopping centre and wellness retreat to support the medical and wellness tourism.
CHHB has been in the wellness business for 15 years and has up to RM1 billion of assets (half a million sq ft), including GHSS Healthcare (health screening centre, TCM centre and Wellness Spa Centre).
The plan is to build more wellness assets of up to 2.5 million sq ft with an estimated gross development cost of RM1.1 billion.
To kick-start this venture, CHHB requires up to RM250 million, said Lee.
He said there will be three property projects under this wellness venture — Mines Waterfront Medical (office suites for healthcare and medical services), Venice Avenue Shopping (mixed-development shopping centre with serviced apartments and hotel suites) and Aqualis serviced apartments (high-end).
The combined GDV for the three projects is about RM1.5 billion.

The upcoming Avenue development at The Mines

“It critical to develop the wellness hub. Every day in Malaysia, there are about 60 people getting a stroke, compared with 30 people 15 years ago. Is the government going to build more hospitals to cater for this and other illness?
“Prevention is better than cure. Why wait till the last minute and go to a hospital for treatment? It could be too late and too expensive. The wellness hub is meant to treat you before you are even diagnosed with any disease or serious health issues and it won’t burn a hole in your pocket.
“I am building the wellness hub to help people live well and longer. When they are here for treatment, they will be staying in a hotel and not a hospital. They can also enjoy golfing, shopping, boat rides, spa, high tea and a walk in the flower garden.”
Lee said the wellness hub will also help improve the economy by creating 8,200 jobs and RM1 billion in economic activities.

From a mine to a city

THE Mines Resort City was built in the late 1980s on a site which was once the world’s largest open cast tin mine known as Hong Fatt Mine. The mine was a massive hole in the ground measuring 2km long, 1km wide and 200m deep.
When mining activities ceased, the hole was filled with rainwater and formed two lakes called North Lake and South Lake.
The Hong Fatt Mine covered an area of 530ha (including the lakes).
The government alienated the land and lakes to Country Heights Holdings Bhd in March 1988 for recreational and tourism purposes.
The Mines is now home to the Mines shopping mall, Mines International Exhibition and Convention Centre, Philea Mines Beach Resort (formerly Mines Wellness Hotel), Mines Resort and Golf Club, Mines Waterfront Business Park, Palace of the Golden Horses and GHHS Healthcare.
North Lake covers 61ha and is 200m deep. It runs from the Mines shopping mall to the Mines Waterfront Business Park, the blue-domed Sapura Group headquarters and the Mines Resort and Golf Club.
The smaller South Lake is bordered by the Heritage condominiums built more than a decade ago, luxury villas and an Australian school.
The two lakes are connected by a canal which runs through the Mines shopping mall, one of the few malls in the world that have waterways flowing through.

More luxury houses planned for Gambang

By Sharen Kaur - Published in NST Property August 2, 2018

 

GAMBANG in Pahang is famous for one attraction, — the Bukit Gambang Resort City (BGRC) which is nestled within 294ha of lush secondary jungle.
Developed by Sentoria Group Bhd, BGRC is one of the largest integrated resort cities in Malaysia.

 

Land available for new developments surrounding Mangala Resort & Spa.

Besides luxury villas and hotel rooms, BGRC offers attractions such as a water park and the largest safari park in the country.
Another notable thing about Gambang is that it has been developed as an education city, starting with the construction of Kolej Universiti Kejuruteraan dan Teknologi Malaysia, now known as Universiti Malaysia Pahang.
Others were Kolej Matrikulasi Pahang and Kolej Komuniti Paya Besar, as well as a branch of Universiti Teknologi Mara and a pre-university campus of International Islamic University Malaysia.
Gambang is also famous for sports school Sekolah Sukan Malaysia Pahang and Mokhtar Dahari National Football Academy, named after late football legend Mokhtar Dahari.
The academy is the biggest of its kind in Malaysia and was set up to produce world-class football players. The first phase was developed in 2014 and comprised a building and five fields Phase 2 was implemented through the National Football Development Programme at a cost of RM85 million and involved the construction of 10 football fields and other facilities, such as a physiotherapy centre.

Franky Group founder Datuk Franky Chua Goon En

 

Other than that, Gambang is considered a small and old town with nothing much to do.
There is hardly any new housing project or shop.
However, there is a hidden gem called Mangala Resort & Spa, owned by Franky Group of Companies, which is planning another bigger development.

LUXURY HOMES 

Franky Group is owned by Datuk Franky Chua Goon Eng, a low-profile developer from Klang, Selangor. The group started as Franky Construction Sdn Bhd in 1981. Over the years, it diversified into mining, property development, material supply, hospitality and plantation.

 

Luxury pool villas developed by Franky Group of Companies.

To date, the group’s construction business has registered more than RM3 billion of work done. This included mining, highways, road works, oil and gas installation, building construction, infrastructure, water supply works and drainage and sewerage works.
Now, the group wants to build more properties in Gambang, a place close to Chua’s heart.
“It is true, there is nothing much that one can do in Gambang, but this sure is the place to relax and rejuvenate. It is a place for healing! My group owns 162ha land and we have used up almost 121ha for an oil palm plantation and 26ha for the Mangala Resort & Spa.
“We have more land and we intend to develop luxury residences comprising villas and low-rise apartments.
It is under planning at the moment,” he told NST Property.
Construction of the villas and apartments are expected to start in one to two years.
Chua estimates the gross development value (GDV) to be RM250 million, depending on the number of units.
“We have a 20ha site to build the villas and apartments. It is a huge parcel of land and there will be space to for another luxury development in the future.
“We believe Gambang is ready for luxury homes. A number of people have been talking to us. They want to live in a serene and tranquil environment when they retire.
“Some are also looking for a holiday home. Gambang is only a two-hour drive from Kuala Lumpur and less than an hour from Cherating beach,” he said.

A private bungalow hidden in a 162ha oil palm plantation.

DEVELOPER WITH FORESIGHT 

It is rare to come across a property developer who takes over a barren former mining land in a small and unpopular village to build a resort and houses.
The developer must either be bold or has good foresight. Otherwise it would not make business sense to spend a huge amount of money on the land, development and marketing campaign to sell the properties.
It is common for developers to hunt for prime or strategic land. If they have to pay a premium, they will do it because it is highly likely they will make a fortune from the development.
But this was not the case for Chua. He took over the barren former mining land in 2002 and spent a lot of money transforming the vast undulating empty topography into a breathtaking nature-inspired resort and oil palm estate.
“Nothing could grow here except oil palm trees and I invested a lot of money.
We converted about 121ha into an oil palm plantation. We brought in top soil and compost to improve the soil composition.
Otherwise, nothing will grow. Barren land has sand or rocks. It is almost like desert land.
“As you know, tin mining activities cause a change in soil composition. It degrades the land, rendering it incapable of generating growth. We rehabilitated the land and gave it a breath of fresh air. We bought better soil, tonnes of it! We also added fertiliser regularly. The first thing we did was to plant oil palm trees and today, they are bearing fruit.
“We also planted fruit trees such as kedondong, guava, passion fruit, durian and pandan coconut and they are all producing fruits, too. The next target is to have a herb and vegetable garden,” added Chua.

Opus Kuala Lumpur: The next epicentre of KL

By Sharen Kaur - Published in NST Property on August 16, 2018 

 

“COMPOSITION of a rhythmic lifestyle”. This clearly defines Opus Kuala Lumpur (Opus KL), an ongoing development, which together with Merdeka PNB 118 (formerly known as Warisan Merdeka), is set to become the next epicentre of Kuala Lumpur’s real estate.
Opus KL boasts a gross development value of about RM430 million and is located on a 0.56ha freehold site in Jalan Talalla, Kampung Attap.
Opus Kl is strategically located opposite PNB 118, which is set to be the tallest tower in Malaysia and Southeast Asia by 2024.
The PNB tower will also potentially be the world’s third tallest structure. At a height of 644m, it will be taller than the 452m Petronas Twin Towers.
This iconic building will comprise a lifestyle retail complex, offices, residences and hotel.
Opus KL and PNB 118 are among the “hottest” developments in the Kuala Lumpur city centre. The others include the Tun Razak Exchange and Bukit Bintang City Centre.

Opus KL

Opus KL is a low-density development with two 32-storey towers comprising 357 units of high-end serviced apartments, ranging from 700 to 1,153 sq ft.

 

About 92 per cent of Opus KL have been sold. Bina Puri PIC

The first tower was launched in June 2014, and the selling price for each apartment was between RM1,500 and, RM1,600 per sq ft (psf).
The units prices are said to be about 30 per cent lower than those in other landmarks such as KLCC, Pavillion or KL Sentral.
Despite being cheaper, they feature world-class furnishings and quality kitchen appliances.
The second tower, launched in June 2015, boasts luxury features, with Calvin Klein designer furniture and Gorenje energy-efficient kitchen appliances.
Opus KL is equipped with security systems which come with automated car park garage door that has proximity sensor and integrated video intercom.
These features, coupled with the project’s prime location, are the reasons why the units are selling at RM1,500 to RM2,100 psf today.

Opus KL designer apartments. Bina Puri PIC

Bina Puri Holdings Bhd group executive director Datuk Matthew Tee said the company is proud to have developed Opus KL.
“This is a project that we are proud of because we know it will become one of the most unique and prominent developments in Kuala Lumpur with a stunning view of the new iconic landmark in Malaysia, PNB 118.”
He said 92 per cent of Opus KL has been taken up, with a majority of the buyers being Malaysians while 15 per cent are from Hong Kong and 15 per cent from China.
Buyers include investors who are looking for capital gains and owner-occupiers.
Investors may not have to worry much as Opus KL is projected to have high rental yield from the tenant pool of PNB 118.
A pedestrian walkway will link Opus KL to PNB 118 and a lifestyle mall.
Tee said Bina Puri is considering raising the prices of the remaining units.

Opus KL designer apartments. Bina Puri PIC

“We are studying a price increase for the remaining 25 units, to take advantage of the fact that Opus KL is the single biggest and nearest project to PNB 118.”

The Jewel in KL

PNB 118 is being developed on the site of the former Merdeka Park (also known as Taman Tunku) next to Merdeka Stadium and Stadium Negara in Jalan Hang Jebat.
The Merdeka Stadium is a historical landmark where the independence of Malaya was declared.
Permodalan Nasional Bhd (PNB), the country’s biggest fund management company, owns PNB 118.
PNB 118 was designed by Australian architecture firm Fender Katsalidis Architects.
The tower’s off-centre spire is inspired by the raised right hand of Tunku Abdul Rahman during the Merdeka proclamation.
PNB 118 will have 118 floors topped with a 150m spire.
The podium floors will be occupied by retailers.
PNB and its subsidiaries will take up 42 floors while 14 floors are for amenities. Four floors will become observation decks and another 41 floors are for office rental.

 

The location of Opus KL and Merdeka PNB 118

The upper 17 floors of the tower will house Park Hyatt Hotel Kuala Lumpur, operated by Hyatt Hotels Corp. The five-star hotel will have 232 guest rooms, 28 suites and 30 serviced apartments.
Construction on PNB 118 started in 2014 and is expected to be completed in 2024.
UEM Group and South Korea’s Samsung C&T are the major contractors.
The construction of PNB 118 is estimated to cost RM5 billion but this could increase as building material prices have risen over the last four years.
The initial target to complete the construction was 2020.
PNB told the media during the ground-breaking of PNB 118 it would ensure that the cost of construction stayed at RM5 billion as budgeted.
During the agreement signing between PNB Merdeka Venture Sdn Bhd and Hyatt Hotels in February, then PNB group chairman Tan Sri Abdul Wahid Omar said it is expecting the tower to be 40 per cent completed by the end of this year.
In May, Wahid said, 18 storeys have been completed.