You bought so cheap. Should keep it as puteri harbour will be the jewel of iskandar.
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Puteri Harbour Community
- Thread starter Qube3
- Start date
You bought so cheap. Should keep it as puteri harbour will be the jewel of iskandar.
keep lar.. I am very bullish on KL n JB for next 5-6 years.
have staked a fortune into it... and must have the balls of steel to endure.
have staked a fortune into it... and must have the balls of steel to endure.
Singapore is becoming a discouraging place for individual and corporate investors whom would like to build up real estate portfolio consisting of multiple residential properties. The old school recipe to riches got to be applied elsewhere.
Malaysia is an ideal place.
Malaysia is an ideal place.
Fortunate to have been accumulating property portfolio in Singapore. No more playground there.
Wow... Nice photo, thanks for sharing. Any idea what is the journey time from puteri to harbour front sg using ferry? Any official number? Some said half an hour, some said 45 mins...some said 1 and half hour
I heard its abt 40 min. If they link PH to the Tuas , it will even be shorter , maybe abt 20 min. Ferry ticket will be abt S$12 per one way trip if we use the existing ferry ticket to Batam of $23 an a guide as it takes abt 40 min. would u guys wanna pay this amt for ferry to Tuas in order to beat the possible traffic jam at the 2nd link ?
I think the MRT needs to go to Tuas Ferry Terminal and the Ferry ticket priced between RM5 - RM10 per trip.
Without the MRT at Tuas, those who take the ferry will be stranded at Tuas.
If the Ferry price is too high, it will be expensive and inconvenient to be used as a daily mode of transport.
I think I would rather drive, carpool or take the bus if it was me.
No more playground? As in, it's good for people who already have properties in Singapore but not for those who can't afford to buy now?
Hi all smart bro/sis, I have been troubled by the economic situations in US, Europe and Japan last few years and I put off committing in properties in Iskandar. Of course I have been wrong last few years looking back and regretfully missing much of the actions in Iskandar. The main reason is probably the hundreds of billions being invested and commited in Iskandar and ETP. Today, I am still very scared as the global economic situations have not improved much but I am very tempted to take a small plunge at least though obviously late to the party. It is kind of a dilemma to me too. I will appreciate very much your kind advice. Thanks!
From what u said, you are quite a low risk taker.
If you can use it for own stay and if you have back up fund for maybe 2 years(plus or minus, depends on individual) of installments if things go wrong, then go ahead and think no more.
Its more of a stalemate situation for Singapore. Those whom are rich and has existing portfolio of residential properties would think twice selling cos once sold, they will face the measures when buying back.
And those whom have the extra funds and are seasoned property investors will find it hard to buy with the new measures, let alone build a portfolio of properties.
So my take is if interest rate remains low, holding power is still strong for the owners, and prices wont correct or will remain.
But the investors with extra funds will definitely look elsewhere..
Cos for me as example, if I am to buy 2nd Singapore property now, I would face 3+7% stamp duty to government, not to mention the extra sellers stamp duty again when we sell the property which could be up to 16%.
So worse case scenario is buy and sell within a year for whatever reason, already 26% paper loss.
Font-size: A | A | A
Diversifying into Malaysia
by E Jacqui Chan of The Edge on Sunday, 13 January 2013 16:00
THE Malaysian high-end, high-rise condominium and serviced apartment market may not be as vibrant as it was a few years ago but Singapore-based United Engineers Ltd (UEL) believes it is still attractive and has strong potential for growth. The market is thus a diversification opportunity for the company.
About 95% of UEL's property development business is in Singapore. It is also involved in engineering, construction and integrated property services such as asset, hospitality and project management.
"We are overly concentrated in Singapore and we want some diversification. Malaysia being our neighbour makes it easy for us to participate and manage," UEL group managing director and CEO Jackson Yap tells City & Country. He had flown in from Singapore for the interview.
UEL, which is celebrating its 100th anniversary this year, is no stranger to Malaysia. It was instrumental in the formation of UEM Group Bhd in 1966 and used to own 40% of the company then. In 1987, Renong Group bought over its share and the companies went their separate ways. UEL has done some work in Malaysia since then, but more as a contractor than a developer.
Now, UEL is getting its feet wet with The Manhattan Residen in Jalan Raja Chulan in Kuala Lumpur's central business district.
"This is our first real foray into the Malaysian property market as a developer, so we kept the project small. Malaysian projects have always sold well in Singapore and many Singaporeans see Malaysia as a good destination for real estate investment," says Yap.
The Manhattan is being developed by UEL subsidiary UED Developments (M) Sdn Bhd. The 30-storey tower comprises 129 serviced apartments, including 16 lofts on the top two levels. The project sits on a 20,322 sq ft freehold plot that was previously used as an open-air car park. It has a gross development value of RM180 million.
Yap says the size of the units ranges from 700 to 1,300 sq ft and that the company is targeting Singaporeans and Malaysians.
"I think small units are something of an attraction to Singaporeans. Those who are buying second homes don't want a big unit. For Malaysians, we think it is good city living. If you have a big house further out of Kuala Lumpur, you would buy a smaller unit in the city as a second home," he reasons.
According to Stephanie Chua, deputy vice-president (project marketing), the units come in several configurations — 1-bedroom; 1+study; 2-bedroom; 2+study; and 3-bedroom. Recognising that one of the keys to living in the city is access to a car park, UEL put in 191 parking bays.
The Manhattan is designed as a green building and aims to achieve the Malaysian Green Building Index (GBI) gold rating. UEL is planning to get a Green Mark certification from Singapore's Building and Construction Authority as well. Green Mark and GBI are rating systems for sustainable green structures.
Yap recalls that when UEL first considered buying the land, personnel from UEL came and timed their walk from the site to Pavilion Kuala Lumpur and the Raja Chulan Monorail Station, which is situated in Jalan Sultan Ismail.
"We found that it was very near [Pavilion and the monorail station]. The location is fantastic and the flow of the traffic, which goes both ways, is a big plus because you don't have to make a big round to reach the site," says Yap.
The site was purchased at between RM1,400 and RM1,700 psf two years ago.
K K Lim, director of UED, says because of the excellent location, the developer wants every unit to have a good view. Thus, the lowest unit starts on the 10th floor. The first to seventh floors are for parking while the next two floors house recreational facilities.
"None of the units is blocked by another building. Next door is Wisma MPL's 3-storey podium, the front faces the Petronas Twin Towers while the units at the back have a view of Bukit Bintang. As The Manhattan is a green building, all the windows are double glazed and tinted, thus eliminating noise pollution," says Lim.
Yap, who expects the sixty-three 1-bedroom and 1-bedroom + study units to be the biggest attractions, gives an estimated selling price of RM1,300 to RM1,500 psf. "This is an indicative pricing. We will see how well the project is received, but that's the price we have in mind. If we can't get the price we want, we are quite happy to lease the units until we can. Some of the units will be sold fully furnished, so the price will be higher," says Yap.
He believes fully furnished units will appeal to Singaporean investors because it will allow them to rent out the units immediately without worrying about the furnishing and fittings. Another reason UEL wants to sell some of the units fully furnished is to enable the developer to optimise the space.
"We want to gauge whether a 700 sq ft unit can sell. It may sound small but if you lay it out nicely and use the right furnishing and interior decorating, it can be spacious. Affordability is another reason. At the end of the day, it's a question of how much the people can afford to pay," Yap explains.
Learning about the market
As the development is small, UEL has received offers from several parties to buy the project en bloc.
"Some of them think they can make money but for us, we want to sell unit by unit. We want to experience and learn the market, understand what the customers here want and why they buy. If we sell the entire development en bloc, we will never learn," says Yap.
But with demand for affordable products on the rise, why did UEL choose to enter the market with a high-end product? There are also the lingering concerns of a volatile world economy and the upcoming local general election. "I think it's a good time for us to look at the Klang Valley property market. For buyers, maybe coming in when the market is not as vibrant means you can buy at a better price. If you don't want to buy now, when is a good time?" asks Yap.
However, he is confident that like Singapore, developments in the central business district and the Golden Triangle will always sell. Aside from Singaporeans, he believes The Manhattan's location will appeal to other international buyers.
"Somehow, foreigners feel safer in the city. In Singapore, developments in Orchard Road are always sought by international buyers even though the price is high. We are looking at selling the project internationally," he says.
The Manhattan showroom on the site has been up for more than half a year and the response has been encouraging.
"All the approvals for the development are in place, so we are ready to build. We are looking at a date after the Chinese New Year to officially launch the project," remarks Chua. The project is expected to be completed in December 2015.
A brand name in Singapore
In Singapore, UEL is already a well known name. The group's history goes back to 1865 when British pioneers Richard Riley and William Hargreaves formed Riley Hargreaves & Co to build bridges, steamers and the Fort Canning lighthouse along the Straits of Melaka.
In the same year, Samuel Erskine and J Howarth established Howarth Erskine & Co, an engineering firm specialising in the design and construction of iron and steel structures, and waterworks. In 1912, the two companies came together to form UEL.
Since then, UEL has built a good number of landmarks and important structures in Singapore, such as the previous Singapore Supreme Court, Cavenagh Bridge, British High Commission, OCBC Centre, Shangri-la Hotel and its flagship building, UE Square.
"People know us in Singapore. They trust us and we finish what we started, and on time too," says Yap.
........
In 2011, the revenue of UEL's property development segment rose 354%. However, the company does not expect its property development revenue to be as significant this year as its projects are still in progress. For now, it is focused on expanding in Malaysia, particularly Kuala Lumpur. "We like Kuala Lumpur; there is potential here. There is a lack of rapid trains right now, but the infrastructure is being built. So, in three to four years' time, when the infrastructure is ready, property values will go up. We may not sell all of The Manhattan, but we will move on to the next project. We're not here for just one project," concludes Yap.
This story first appeared in The Edge weekly edition of Dec 17-23, 2012.
Diversifying into Malaysia
by E Jacqui Chan of The Edge on Sunday, 13 January 2013 16:00
THE Malaysian high-end, high-rise condominium and serviced apartment market may not be as vibrant as it was a few years ago but Singapore-based United Engineers Ltd (UEL) believes it is still attractive and has strong potential for growth. The market is thus a diversification opportunity for the company.
About 95% of UEL's property development business is in Singapore. It is also involved in engineering, construction and integrated property services such as asset, hospitality and project management.
"We are overly concentrated in Singapore and we want some diversification. Malaysia being our neighbour makes it easy for us to participate and manage," UEL group managing director and CEO Jackson Yap tells City & Country. He had flown in from Singapore for the interview.
UEL, which is celebrating its 100th anniversary this year, is no stranger to Malaysia. It was instrumental in the formation of UEM Group Bhd in 1966 and used to own 40% of the company then. In 1987, Renong Group bought over its share and the companies went their separate ways. UEL has done some work in Malaysia since then, but more as a contractor than a developer.
Now, UEL is getting its feet wet with The Manhattan Residen in Jalan Raja Chulan in Kuala Lumpur's central business district.
"This is our first real foray into the Malaysian property market as a developer, so we kept the project small. Malaysian projects have always sold well in Singapore and many Singaporeans see Malaysia as a good destination for real estate investment," says Yap.
The Manhattan is being developed by UEL subsidiary UED Developments (M) Sdn Bhd. The 30-storey tower comprises 129 serviced apartments, including 16 lofts on the top two levels. The project sits on a 20,322 sq ft freehold plot that was previously used as an open-air car park. It has a gross development value of RM180 million.
Yap says the size of the units ranges from 700 to 1,300 sq ft and that the company is targeting Singaporeans and Malaysians.
"I think small units are something of an attraction to Singaporeans. Those who are buying second homes don't want a big unit. For Malaysians, we think it is good city living. If you have a big house further out of Kuala Lumpur, you would buy a smaller unit in the city as a second home," he reasons.
According to Stephanie Chua, deputy vice-president (project marketing), the units come in several configurations — 1-bedroom; 1+study; 2-bedroom; 2+study; and 3-bedroom. Recognising that one of the keys to living in the city is access to a car park, UEL put in 191 parking bays.
The Manhattan is designed as a green building and aims to achieve the Malaysian Green Building Index (GBI) gold rating. UEL is planning to get a Green Mark certification from Singapore's Building and Construction Authority as well. Green Mark and GBI are rating systems for sustainable green structures.
Yap recalls that when UEL first considered buying the land, personnel from UEL came and timed their walk from the site to Pavilion Kuala Lumpur and the Raja Chulan Monorail Station, which is situated in Jalan Sultan Ismail.
"We found that it was very near [Pavilion and the monorail station]. The location is fantastic and the flow of the traffic, which goes both ways, is a big plus because you don't have to make a big round to reach the site," says Yap.
The site was purchased at between RM1,400 and RM1,700 psf two years ago.
K K Lim, director of UED, says because of the excellent location, the developer wants every unit to have a good view. Thus, the lowest unit starts on the 10th floor. The first to seventh floors are for parking while the next two floors house recreational facilities.
"None of the units is blocked by another building. Next door is Wisma MPL's 3-storey podium, the front faces the Petronas Twin Towers while the units at the back have a view of Bukit Bintang. As The Manhattan is a green building, all the windows are double glazed and tinted, thus eliminating noise pollution," says Lim.
Yap, who expects the sixty-three 1-bedroom and 1-bedroom + study units to be the biggest attractions, gives an estimated selling price of RM1,300 to RM1,500 psf. "This is an indicative pricing. We will see how well the project is received, but that's the price we have in mind. If we can't get the price we want, we are quite happy to lease the units until we can. Some of the units will be sold fully furnished, so the price will be higher," says Yap.
He believes fully furnished units will appeal to Singaporean investors because it will allow them to rent out the units immediately without worrying about the furnishing and fittings. Another reason UEL wants to sell some of the units fully furnished is to enable the developer to optimise the space.
"We want to gauge whether a 700 sq ft unit can sell. It may sound small but if you lay it out nicely and use the right furnishing and interior decorating, it can be spacious. Affordability is another reason. At the end of the day, it's a question of how much the people can afford to pay," Yap explains.
Learning about the market
As the development is small, UEL has received offers from several parties to buy the project en bloc.
"Some of them think they can make money but for us, we want to sell unit by unit. We want to experience and learn the market, understand what the customers here want and why they buy. If we sell the entire development en bloc, we will never learn," says Yap.
But with demand for affordable products on the rise, why did UEL choose to enter the market with a high-end product? There are also the lingering concerns of a volatile world economy and the upcoming local general election. "I think it's a good time for us to look at the Klang Valley property market. For buyers, maybe coming in when the market is not as vibrant means you can buy at a better price. If you don't want to buy now, when is a good time?" asks Yap.
However, he is confident that like Singapore, developments in the central business district and the Golden Triangle will always sell. Aside from Singaporeans, he believes The Manhattan's location will appeal to other international buyers.
"Somehow, foreigners feel safer in the city. In Singapore, developments in Orchard Road are always sought by international buyers even though the price is high. We are looking at selling the project internationally," he says.
The Manhattan showroom on the site has been up for more than half a year and the response has been encouraging.
"All the approvals for the development are in place, so we are ready to build. We are looking at a date after the Chinese New Year to officially launch the project," remarks Chua. The project is expected to be completed in December 2015.
A brand name in Singapore
In Singapore, UEL is already a well known name. The group's history goes back to 1865 when British pioneers Richard Riley and William Hargreaves formed Riley Hargreaves & Co to build bridges, steamers and the Fort Canning lighthouse along the Straits of Melaka.
In the same year, Samuel Erskine and J Howarth established Howarth Erskine & Co, an engineering firm specialising in the design and construction of iron and steel structures, and waterworks. In 1912, the two companies came together to form UEL.
Since then, UEL has built a good number of landmarks and important structures in Singapore, such as the previous Singapore Supreme Court, Cavenagh Bridge, British High Commission, OCBC Centre, Shangri-la Hotel and its flagship building, UE Square.
"People know us in Singapore. They trust us and we finish what we started, and on time too," says Yap.
........
In 2011, the revenue of UEL's property development segment rose 354%. However, the company does not expect its property development revenue to be as significant this year as its projects are still in progress. For now, it is focused on expanding in Malaysia, particularly Kuala Lumpur. "We like Kuala Lumpur; there is potential here. There is a lack of rapid trains right now, but the infrastructure is being built. So, in three to four years' time, when the infrastructure is ready, property values will go up. We may not sell all of The Manhattan, but we will move on to the next project. We're not here for just one project," concludes Yap.
This story first appeared in The Edge weekly edition of Dec 17-23, 2012.
A lot of us (Singaporeans) is in this situation. We use nett rental of Singapore properties to fund our investment here without the need to sell them off as quite a lot of them has fully paid up ones. It is probably more than sufficient to support the kind of lifestyle here too. Not a bad move. Any comments?
Thanks bro! Yes I could use for my own stay later. I have been looking up information and input many gracious bro/sis have been providing. I find it no easy task to figure out which zones in Iskandar will have the most chance to be sustainable in terms of economic activities in the long term...probably all of them are, given long enough time. It seems to me also that the refinery/petrolchemical and manufacturing will be main anchors of JB' economic activities in the foreseeable future, in terms of sustainability, GDP and revenue. One doubt I have is JB CBD and nusajaya seem to be competing for water front living, medical hub services, to be JB's financial hub and CBD. One zone is royal family vested interest while nusajaya is mainly government driven. Who will have the upper hand? Any take from you bro/sis?
WYSIWYG is my favorite investment slogan. (What You See Is What You Get)
Devise your investment plans to reflect the present, never try predicting the future.
Devise your investment plans to reflect the present, never try predicting the future.
If I had many millions sitting in the bank, why do I need to invest? Might as well park it in those global retirement funds...and go sailing away around the globe. And if I had more than enough millions, I would rather lease and change my lifestyle living every few years.
It all depends on what you want. Build up a legacy with a string of properties with nett rentals collected or spoil yourselves.
Unfortunately poor souls like myself have to scrape the bottom just to pay the deposits. Malaysian rentals are not high enough to be self financing in JB. Maybe in KLCC where the yield is higher. How I envy you Singaporeans.
It all depends on what you want. Build up a legacy with a string of properties with nett rentals collected or spoil yourselves.
Unfortunately poor souls like myself have to scrape the bottom just to pay the deposits. Malaysian rentals are not high enough to be self financing in JB. Maybe in KLCC where the yield is higher. How I envy you Singaporeans.
Bro. You must know it takes great effort and many years to build up portfolio. Malaysians who are SPR have made a pile and not until the last CM. It is more difficult now but opportunities are still there. Just got to be patient. Still no news on the ferry service to PH.
If I had many millions sitting in the bank, why do I need to invest? Might as well park it in those global retirement funds...and go sailing away around the globe. And if I had more than enough millions, I would rather lease and change my lifestyle living every few years.
It all depends on what you want. Build up a legacy with a string of properties with nett rentals collected or spoil yourselves.
Unfortunately poor souls like myself have to scrape the bottom just to pay the deposits. Malaysian rentals are not high enough to be self financing in JB. Maybe in KLCC where the yield is higher. How I envy you Singaporeans.
Thanks for your thought! I know it is very hard to predict future with certainty. But I will still try to know what is knowable may be not to predict but have a feel of the odds. There is always upside and downside to most investments. As some wise bro/sis here shared before and I am trying to adhere to is try protect the downside and look forward to possible upside as long as there is a fair chance one is comfortable with.
Similar threads
