Think out of topic. Can update any new developments.
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New developments to share
- Thread starter wuqi256
- Start date
Dr mahathir: Malaysia must re-negotiate water deal with singapore
The bilateral ties across the causeway is bound to turn sour with former prime minister Tun Dr Mahathir Mohamad calling for the re-negotiation of the sensitive water agreement between Malaysia and Singapore.
Mahathir in his blog today said the country is being “short-changed” in the raw water deal, stressing the current rate of 3 sen per 1,000 gallon was “ridiculous.”
He pointed out that in the present agreement, Malaysia will only get RM30 from selling 1,000,000 gallons of raw water.
“Malaysia can buy 12% of the raw water treated by Singapore at 50 sen per 1,000 gallons i.e for 120,000 gallons, Malaysia has to pay RM60 for this.
“But the cost of treating water is RM1.09 (say RM1.10). The savings for Malaysia is therefore 60 sen per 1,000 gallons, equals to RM72 for 120,000 gallons,” Mahathir wrote in chedet.cc.
“Since 3 sen is ridiculous, supposing Malaysia wishes to ask for 6 sen per 1,000 gallons, an increase of 100%. It can only do so if Singapore agrees.
“It can be assumed that Singapore would want to increase the price of treated water. It may ask for the same quantum i.e a 100% increase to RM1 per 1,000 gallons.
“For 120,000 gallons, Malaysia will have to pay RM120. The cost of treatment for 120,000 gallons is RM1.10 x RM120 = RM132. The benefit for Malaysia would be reduced to RM12 due to the increase in price,” he added.
He said only through a re-negotiation will Singapore be persuaded to not increase its rate for treated water.
Mahathir also recommended the government to consider building its own water treatment plant to end Singapore’s monopoly over the rate of treated water.
“That is why negotiations are necessary from time to time. We should not allow ourselves to be short-changed over the next 57 years to 2060.
“Malaysia should learn to include exit clauses when entering into agreements. It should always remember that over time money depreciates,” he said.
The bilateral ties across the causeway is bound to turn sour with former prime minister Tun Dr Mahathir Mohamad calling for the re-negotiation of the sensitive water agreement between Malaysia and Singapore.
Mahathir in his blog today said the country is being “short-changed” in the raw water deal, stressing the current rate of 3 sen per 1,000 gallon was “ridiculous.”
He pointed out that in the present agreement, Malaysia will only get RM30 from selling 1,000,000 gallons of raw water.
“Malaysia can buy 12% of the raw water treated by Singapore at 50 sen per 1,000 gallons i.e for 120,000 gallons, Malaysia has to pay RM60 for this.
“But the cost of treating water is RM1.09 (say RM1.10). The savings for Malaysia is therefore 60 sen per 1,000 gallons, equals to RM72 for 120,000 gallons,” Mahathir wrote in chedet.cc.
“Since 3 sen is ridiculous, supposing Malaysia wishes to ask for 6 sen per 1,000 gallons, an increase of 100%. It can only do so if Singapore agrees.
“It can be assumed that Singapore would want to increase the price of treated water. It may ask for the same quantum i.e a 100% increase to RM1 per 1,000 gallons.
“For 120,000 gallons, Malaysia will have to pay RM120. The cost of treatment for 120,000 gallons is RM1.10 x RM120 = RM132. The benefit for Malaysia would be reduced to RM12 due to the increase in price,” he added.
He said only through a re-negotiation will Singapore be persuaded to not increase its rate for treated water.
Mahathir also recommended the government to consider building its own water treatment plant to end Singapore’s monopoly over the rate of treated water.
“That is why negotiations are necessary from time to time. We should not allow ourselves to be short-changed over the next 57 years to 2060.
“Malaysia should learn to include exit clauses when entering into agreements. It should always remember that over time money depreciates,” he said.
Medini Iskandar plans US$800m IPO?
Medini Iskandar Malaysia Sdn Bhd, an urban township property developer, plans to list on the local stock exchange in the first half of 2014 in a deal that could raise up to US$800 million, two sources familiar with the matter told Reuters.
The initial public offering would see the company joining a handful of listed "master developers" in Asia, such as the Philippines’ Ayala Corp and Japan’s Mitsubishi Estate Co Ltd.
Those companies typically develop a region and have a number of property companies in their stable.
"Banks are pitching for the deal," said one of the sources, adding that the plan was still in a preliminary stage. The sources declined to be named because the matter was private.
A representative at Medini Iskandar was not immediately available to comment.
Medini Iskandar, which counts state owned Iskandar Investment Bhd, Dubai’s United World Infrastructure and Japan’s Mitsui & Co Ltd as shareholders, is the developer for 903 hectares of land earmarked as Malaysia’s largest single urban development to date in Iskandar, in the southern Malaysian state of Johor, near Singapore.
The site, which will be developed into an urban township consisting of luxury condominiums, hotels, hospitals and education centres, has an expected gross development value of more than RM68 billion over the 20-year development plan, according to Medini’s official website.
Malaysia’s state investment arm Khazanah Nasional Bhd holds a 60 per cent equity stake in Iskandar Investment, while the Employees Provident Fund and Kumpulan Prasarana Rakyat Johor Bhd each own 20 per cent.
Malaysia has seen a pick-up in IPOs and secondary share offerings after a lull amid political uncertainty ahead of a general election in May.
Long-haul carrier AirAsia X Bhd raised US$310 million in an IPO earlier this month. Westports Malaysia Sdn Bhd, operator of the country’s busiest port, is expected to list in October this year in a deal that will raise up to US$500 million.
But 2013 has not been all smooth sailing for the Malaysian IPO market, which was the biggest in Asia-Pacific excluding Japan last year.
Malaysian construction and power firm MMC Corporation Bhd announced in May that it was postponing the US$1 billion share listing of its Malakoff power arm until the first half of 2014, citing delays caused by maintenance work. That would have been the country’s largest IPO this year.
Ranhill Energy & Resources Bhd on Friday cancelled its US$237 million IPO, which had been derailed after state oil firm Petroliam Nasional Bhd (Petronas) suspended the licence of an affiliate company earlier this month.
And another developer, Iskandar Waterfront Holdings Sdn Bhd, may see its its US$300 million listing delayed to next year. The company was initially expected to list in the fourth quarter of this year.
"They are still finalising the injection of more assets into the company," said a source, adding that the process could take a while in view of the huge assets the company has and strict procedures for regulatory approval.
Officials at Iskandar Waterfront were not immediately available to comment.-- Reuters
Medini Iskandar Malaysia Sdn Bhd, an urban township property developer, plans to list on the local stock exchange in the first half of 2014 in a deal that could raise up to US$800 million, two sources familiar with the matter told Reuters.
The initial public offering would see the company joining a handful of listed "master developers" in Asia, such as the Philippines’ Ayala Corp and Japan’s Mitsubishi Estate Co Ltd.
Those companies typically develop a region and have a number of property companies in their stable.
"Banks are pitching for the deal," said one of the sources, adding that the plan was still in a preliminary stage. The sources declined to be named because the matter was private.
A representative at Medini Iskandar was not immediately available to comment.
Medini Iskandar, which counts state owned Iskandar Investment Bhd, Dubai’s United World Infrastructure and Japan’s Mitsui & Co Ltd as shareholders, is the developer for 903 hectares of land earmarked as Malaysia’s largest single urban development to date in Iskandar, in the southern Malaysian state of Johor, near Singapore.
The site, which will be developed into an urban township consisting of luxury condominiums, hotels, hospitals and education centres, has an expected gross development value of more than RM68 billion over the 20-year development plan, according to Medini’s official website.
Malaysia’s state investment arm Khazanah Nasional Bhd holds a 60 per cent equity stake in Iskandar Investment, while the Employees Provident Fund and Kumpulan Prasarana Rakyat Johor Bhd each own 20 per cent.
Malaysia has seen a pick-up in IPOs and secondary share offerings after a lull amid political uncertainty ahead of a general election in May.
Long-haul carrier AirAsia X Bhd raised US$310 million in an IPO earlier this month. Westports Malaysia Sdn Bhd, operator of the country’s busiest port, is expected to list in October this year in a deal that will raise up to US$500 million.
But 2013 has not been all smooth sailing for the Malaysian IPO market, which was the biggest in Asia-Pacific excluding Japan last year.
Malaysian construction and power firm MMC Corporation Bhd announced in May that it was postponing the US$1 billion share listing of its Malakoff power arm until the first half of 2014, citing delays caused by maintenance work. That would have been the country’s largest IPO this year.
Ranhill Energy & Resources Bhd on Friday cancelled its US$237 million IPO, which had been derailed after state oil firm Petroliam Nasional Bhd (Petronas) suspended the licence of an affiliate company earlier this month.
And another developer, Iskandar Waterfront Holdings Sdn Bhd, may see its its US$300 million listing delayed to next year. The company was initially expected to list in the fourth quarter of this year.
"They are still finalising the injection of more assets into the company," said a source, adding that the process could take a while in view of the huge assets the company has and strict procedures for regulatory approval.
Officials at Iskandar Waterfront were not immediately available to comment.-- Reuters
Wow. Prices going up up up for bungalow land in nusajaya. Better and stable buy than condos.
Leisure Farm bungalow lots in Iskandar Malaysia sold out
Posted on July 29, 2013 - Property News.
PETALING JAYA: Due to overwhelming response, 10 pre-selected bungalow lots in Leisure Farm Resort, Iskandar Malaysia was sold out with over 30 bids received.
Successful bidders secured the units around 10% to 15% above the reserve price, with about half of the total sale of RM50mil to Malaysians and the balance to overseas buyers.
Leisure Farm Corporation Sdn Bhd, a wholly-owned subsidiary of Mulpha International Bhd, said in a statement that there was a surge in demand in the first six months of the year, with land prices increasing by 40% to 70% depending on the precinct and topography of the lots.
“We are overwhelmed by the strong reception,” Mulpha executive chairman Lee Seng Huang in a statement.
The reserve price of the lots ranged from RM2.03mil to RM6.93mil, or RM115 to RM150 per sq ft.
October will see the launch of a further 57 units of canal-front bungalows and eco-themed semi-Ds, Bayou Creek, Precinct 7B in the same area.
Leisure Farm bungalow lots in Iskandar Malaysia sold out
Posted on July 29, 2013 - Property News.
PETALING JAYA: Due to overwhelming response, 10 pre-selected bungalow lots in Leisure Farm Resort, Iskandar Malaysia was sold out with over 30 bids received.
Successful bidders secured the units around 10% to 15% above the reserve price, with about half of the total sale of RM50mil to Malaysians and the balance to overseas buyers.
Leisure Farm Corporation Sdn Bhd, a wholly-owned subsidiary of Mulpha International Bhd, said in a statement that there was a surge in demand in the first six months of the year, with land prices increasing by 40% to 70% depending on the precinct and topography of the lots.
“We are overwhelmed by the strong reception,” Mulpha executive chairman Lee Seng Huang in a statement.
The reserve price of the lots ranged from RM2.03mil to RM6.93mil, or RM115 to RM150 per sq ft.
October will see the launch of a further 57 units of canal-front bungalows and eco-themed semi-Ds, Bayou Creek, Precinct 7B in the same area.
M'sia may raise property taxes, tighten financing
BY PAULINE NG IN KUALA LUMPUR
PUBLISHED JULY 30, 2013
AN increase in property taxes (RPGT) and a tightening of financing may be in the offing in Malaysia, given that speculation has pushed prices beyond the reach of the middle class.
Housing Minister Abdul Rahman Dahlan hinted at these moves over the weekend, even as English language dailies New Straits Times (NST) and The Star gave coverage to the nation's urban housing woes.
NST reported that about 60 per cent of Malaysians, especially those living in the Klang Valley, Penang and Johor, are thought to be no longer able to afford a home.
Interviewed by The Star, Mr Abdul Rahman acknowledged there were "multiple problems"- speculation being one - which have made affordability more of an issue now than a decade ago.
He said: "Within the ministry, we have some tools we can use. The RPG is a very interesting one. If you dispose of a house within two years, you will be taxed 15 per cent of the profit. There's no stopping us from increasing it to 30 per cent." He noted that this was the rate before the US sub-prime crisis in 2008, but was cut later as the government feared that the housing industry could collapse.
Mr Abdul Rahman said: "But now the market is red hot and I am personally inclined to raising it."
It was not the first time he has alluded to this move since assuming the portfolio in May.
C H Williams, Talhar, & Wong managing director Foo Gee Jen is of the view that the 15 per cent rate should be extended to the third year, which is when speculators or flippers tend to re-sell their properties. (The rate is now 10 per cent for disposals in the third, fourth and fifth year; after that, there is no tax.)
For some property buyers, tightened financing may be of greater concern. Right now, housing loans are easily obtained, but Mr Abdul Rahman suggested that those seeking to buy a second or subsequent property may find their financing capped at 60 per cent.
(A current 70 per cent loan-to-value ratio applies on third outstanding loans.)
He said that there was a need to balance the needs of the majority of Malaysians - who are already home owners and want to see the value of their properties appreciate - against those of first-time buyers.
He also expressed wariness of too much government intervention cramping the growth of the property market.
A property consultant suggested that these proposals, along with the one to curb developers' interest bearing scheme (Dibs) could be implemented in the Budget in October.
Housing loans account for more than 40 per cent of Malaysia's total household debt, which in turn has hit 83 per cent of the Gross Domestic Product. Home loans were recently capped at a maximum 35 years, but many think the government needs to act faster to curb escalating prices.
Real-estate valuer Ernest Cheong attributed the current state of affairs to the central bank's policy on loans and the younger generation's willingness to take on debt and the culture of instant gratification. He cited another factor - that of unscrupulous practices by developers. These include selling a percentage of units at a discount to investors' clubs before the launch of the property to lock in confirmed sales and create the appearance of brisk sales.
"It's basically a cartel. It creates a rush. All the while, the people are being led by the nose," he told NST, noting that a Klang Valley terrace house now costs RM700,000 (S$274,500) on average.
The paper also reported that real estate prices in Johor's Iskandar region has spiked beyond the expectations of local builders. KGV International Property Consultants executive director Samuel Tan estimated that foreigners comprised up to 70 per cent of homebuyers in the economic zone.
http://www.businesstimes.com.sg/pre...ise-property-taxes-tighten-financing-20130730
BY PAULINE NG IN KUALA LUMPUR
PUBLISHED JULY 30, 2013
AN increase in property taxes (RPGT) and a tightening of financing may be in the offing in Malaysia, given that speculation has pushed prices beyond the reach of the middle class.
Housing Minister Abdul Rahman Dahlan hinted at these moves over the weekend, even as English language dailies New Straits Times (NST) and The Star gave coverage to the nation's urban housing woes.
NST reported that about 60 per cent of Malaysians, especially those living in the Klang Valley, Penang and Johor, are thought to be no longer able to afford a home.
Interviewed by The Star, Mr Abdul Rahman acknowledged there were "multiple problems"- speculation being one - which have made affordability more of an issue now than a decade ago.
He said: "Within the ministry, we have some tools we can use. The RPG is a very interesting one. If you dispose of a house within two years, you will be taxed 15 per cent of the profit. There's no stopping us from increasing it to 30 per cent." He noted that this was the rate before the US sub-prime crisis in 2008, but was cut later as the government feared that the housing industry could collapse.
Mr Abdul Rahman said: "But now the market is red hot and I am personally inclined to raising it."
It was not the first time he has alluded to this move since assuming the portfolio in May.
C H Williams, Talhar, & Wong managing director Foo Gee Jen is of the view that the 15 per cent rate should be extended to the third year, which is when speculators or flippers tend to re-sell their properties. (The rate is now 10 per cent for disposals in the third, fourth and fifth year; after that, there is no tax.)
For some property buyers, tightened financing may be of greater concern. Right now, housing loans are easily obtained, but Mr Abdul Rahman suggested that those seeking to buy a second or subsequent property may find their financing capped at 60 per cent.
(A current 70 per cent loan-to-value ratio applies on third outstanding loans.)
He said that there was a need to balance the needs of the majority of Malaysians - who are already home owners and want to see the value of their properties appreciate - against those of first-time buyers.
He also expressed wariness of too much government intervention cramping the growth of the property market.
A property consultant suggested that these proposals, along with the one to curb developers' interest bearing scheme (Dibs) could be implemented in the Budget in October.
Housing loans account for more than 40 per cent of Malaysia's total household debt, which in turn has hit 83 per cent of the Gross Domestic Product. Home loans were recently capped at a maximum 35 years, but many think the government needs to act faster to curb escalating prices.
Real-estate valuer Ernest Cheong attributed the current state of affairs to the central bank's policy on loans and the younger generation's willingness to take on debt and the culture of instant gratification. He cited another factor - that of unscrupulous practices by developers. These include selling a percentage of units at a discount to investors' clubs before the launch of the property to lock in confirmed sales and create the appearance of brisk sales.
"It's basically a cartel. It creates a rush. All the while, the people are being led by the nose," he told NST, noting that a Klang Valley terrace house now costs RM700,000 (S$274,500) on average.
The paper also reported that real estate prices in Johor's Iskandar region has spiked beyond the expectations of local builders. KGV International Property Consultants executive director Samuel Tan estimated that foreigners comprised up to 70 per cent of homebuyers in the economic zone.
http://www.businesstimes.com.sg/pre...ise-property-taxes-tighten-financing-20130730
The Johor government doesn't seem quite keen to shift its operations to Kota Iskandar:
Pesona Metro to build gov't complex in JB
Aug 1, 2013 - PropertyGuru.com.my
Pesona Metro Sdn Bhd, a unit of Pesona Metro Holdings Bhd, clinched a RM149.6million contract to build a government building complex in Johor Bahru from Intrasegi Sdn Bhd-Tegas Setuju Sdn Bhd joint venture.
Bernama reported that the project eyes completion by 29 January 2016 or around 30 months after the possession of the site.
“We expect this project will keep the group busy for over the next two years,” said Pesona Metro Managing Director Wie Hock Beng, adding that the project would bear a significant effect on the company's earnings and orderbook.
To be funded internally, the project will not affect Pesona Metro Holding's gearing.
http://www.propertyguru.com.my/property-news/2013/8/10370/pesona-metro-to-build-gov-t-complex-in-jb
Pesona Metro to build gov't complex in JB
Aug 1, 2013 - PropertyGuru.com.my
Pesona Metro Sdn Bhd, a unit of Pesona Metro Holdings Bhd, clinched a RM149.6million contract to build a government building complex in Johor Bahru from Intrasegi Sdn Bhd-Tegas Setuju Sdn Bhd joint venture.
Bernama reported that the project eyes completion by 29 January 2016 or around 30 months after the possession of the site.
“We expect this project will keep the group busy for over the next two years,” said Pesona Metro Managing Director Wie Hock Beng, adding that the project would bear a significant effect on the company's earnings and orderbook.
To be funded internally, the project will not affect Pesona Metro Holding's gearing.
http://www.propertyguru.com.my/property-news/2013/8/10370/pesona-metro-to-build-gov-t-complex-in-jb
Me not interested, but FYI. Marina Bay Suites.
unit selection will take place this Saturday. There will be a further VVIP Preview discount 10% before the 5% rebate from the developer mentioned to you before. Illustration of 560sqft unit:@ 2.45
RM (SGD)
List Price 656,000.00 (267,755.10)
Less 10% Discount 65,600.00 (26,775.51)
Price after Discount 590,400.00 (240,979.59)
Less 5% Rebate 29,520.00 (12,048.98)
Nett Price 560,880.00 (228,930.61)
unit selection will take place this Saturday. There will be a further VVIP Preview discount 10% before the 5% rebate from the developer mentioned to you before. Illustration of 560sqft unit:@ 2.45
RM (SGD)
List Price 656,000.00 (267,755.10)
Less 10% Discount 65,600.00 (26,775.51)
Price after Discount 590,400.00 (240,979.59)
Less 5% Rebate 29,520.00 (12,048.98)
Nett Price 560,880.00 (228,930.61)
Haa. nowadays overpriced developments give price listing in SGD to try to deflate the price
Side track a bit
Near my place in eastern part of Singapore, recently there are many agents desperately waving flyers along the road side and MRT pathway until dusk trying to get motorists/customers to visit their showflats. Previously in most developments, if you don't get invitation, you cannot even get into the showroom or view the showflats. There were few cars (most likely agents cars) outside the showflats. This goes to show the market is not doing well!
Near my place in eastern part of Singapore, recently there are many agents desperately waving flyers along the road side and MRT pathway until dusk trying to get motorists/customers to visit their showflats. Previously in most developments, if you don't get invitation, you cannot even get into the showroom or view the showflats. There were few cars (most likely agents cars) outside the showflats. This goes to show the market is not doing well!
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Not really. I have always no issue visiting showflats. Just walk in and the agents will entertain you.
This is the outcome of the cooling measures implemented by SG. In MY, demand is still strong. Though not so for those development that are priced >1m
AKAN DATANG --- Q3/Q4 2013..prepare your cheque
Hope the Malaysian housing minister think likewise
UK Minister: No ban on foreign buyers
Aug 2, 2013 - PropertyGuru.com.sg
The United Kingdom’s Housing Minister Mark Prisk has – finally – rejected calls to curb foreign ownership of London new builds, after apparently being sympathetic to the idea.
The Minister's spokesman confirmed the news in a message to asset management company London Central Portfolio (LCP), saying there were: “… no plans to do anything that would curtail inward investment, including restricting the market to the U.K. or giving local residents priorities for sales”.
The comments were in response to a campaign by high-profile London Member of Parliament Simon Hughes to prevent foreign investors from buying new London properties. The campaign led by Hughes, of junior coalition partner the Liberal Democrats, had been gaining momentum.
“Too many of the homes which are being built are now snapped up by wealthy individuals and companies abroad, often as investment properties,” said Hughes, proposing that the law be changed so that: “housing in London can only be bought by people or companies resident or domiciled in the UK, unless it is as a permanent home or they have express permission from the Mayor of London. We must stop this extra upward pressure on London's housing costs as soon as possible.”
When the matter was debated in the U.K. Parliament at Westminster, Hughes also suggested using the tax system to deter foreign investors. At the time, Housing Minister Prisk (pictured) replied: “I totally understand the sense of frustration and challenge that local authorities and, indeed, local people may feel about this issue, but if we seek to curtail inward investment in a crude or ill-defined way I think we can both agree that it would lead to a significant set of unintended consequences.”
This equivocal response prompted LCP to accuse Government ministers of sending “… an outdated, xenophobic message”, with consequences to foreign investment that could cost the economy up to £5.6 billion.
“The price of older properties would also have to take a haircut to remain competitive with new-builds,” said Naomi Heaton, Chief Executive of LCP.
“In a repeat of the 1980s crash, this would result in widespread negative equity with devastating consequences when base rates inevitably increase.”
“With buy-to-let investors snapping up 44 percent of London developments, according to LCP, the private rented sector fulfils an important requirement within the City. It provides housing for international students, foreign visitors and corporate executives, all sectors the government is actively promoting.”
LCP welcomed Mark Prisk’s firm response and told the OPP Connect website: “We understand that there is a housing crisis, but you cannot solve that without looking at the economic factors. With these kinds of sound bites Simon Hughes clearly thinks he can win votes, but according to our research the private rented sector is one of our biggest exports.”
UK Minister: No ban on foreign buyers
Aug 2, 2013 - PropertyGuru.com.sg
The United Kingdom’s Housing Minister Mark Prisk has – finally – rejected calls to curb foreign ownership of London new builds, after apparently being sympathetic to the idea.
The Minister's spokesman confirmed the news in a message to asset management company London Central Portfolio (LCP), saying there were: “… no plans to do anything that would curtail inward investment, including restricting the market to the U.K. or giving local residents priorities for sales”.
The comments were in response to a campaign by high-profile London Member of Parliament Simon Hughes to prevent foreign investors from buying new London properties. The campaign led by Hughes, of junior coalition partner the Liberal Democrats, had been gaining momentum.
“Too many of the homes which are being built are now snapped up by wealthy individuals and companies abroad, often as investment properties,” said Hughes, proposing that the law be changed so that: “housing in London can only be bought by people or companies resident or domiciled in the UK, unless it is as a permanent home or they have express permission from the Mayor of London. We must stop this extra upward pressure on London's housing costs as soon as possible.”
When the matter was debated in the U.K. Parliament at Westminster, Hughes also suggested using the tax system to deter foreign investors. At the time, Housing Minister Prisk (pictured) replied: “I totally understand the sense of frustration and challenge that local authorities and, indeed, local people may feel about this issue, but if we seek to curtail inward investment in a crude or ill-defined way I think we can both agree that it would lead to a significant set of unintended consequences.”
This equivocal response prompted LCP to accuse Government ministers of sending “… an outdated, xenophobic message”, with consequences to foreign investment that could cost the economy up to £5.6 billion.
“The price of older properties would also have to take a haircut to remain competitive with new-builds,” said Naomi Heaton, Chief Executive of LCP.
“In a repeat of the 1980s crash, this would result in widespread negative equity with devastating consequences when base rates inevitably increase.”
“With buy-to-let investors snapping up 44 percent of London developments, according to LCP, the private rented sector fulfils an important requirement within the City. It provides housing for international students, foreign visitors and corporate executives, all sectors the government is actively promoting.”
LCP welcomed Mark Prisk’s firm response and told the OPP Connect website: “We understand that there is a housing crisis, but you cannot solve that without looking at the economic factors. With these kinds of sound bites Simon Hughes clearly thinks he can win votes, but according to our research the private rented sector is one of our biggest exports.”
I have been receiving a lot of sms-es from agents I don't even know inviting me to tea and dinner, organised by develoeprs. tomorrow night there's a seafood barbecue at Greenwood by fareast in their last remianing unit. This is their latest sales gimmick.
Sunway theme park rides into Iskandar
Bill Holman clearly remembers Mimaland, which was already in existence when he began working on Sunway Lagoon back in the late 1980‘s. Rather popular among theme park goers from around Kuala Lumpur due to its giant size swimming pool, the hillside park‘s decline coincided with Sunway Lagoon‘s rise in popularity when the latter began operations in 1992.
“Back in those days, a water park meant simply having a few pools and water slides. Ours was not much different, though we gradually added other attractions which included thrill rides, a scream park, an extreme park as well as a wildlife park,“ explains the Consultant Director of Sunway Lagoon Sdn Bhd.
“The park we are in the process of designing will be different due to several factors which include environmental, geographical as well as demographical,” he continues.
A game changer
The Australian is more than happy to talk about his experience in the industry which dates back more than three decades ago. “Previously, I was in waste management. A German friend took me on a trip across the United States where we made regular stops at parks such as Magic Kingdom and SeaWorld in Orlando. I immediately became interested and upon returning home, I went on to set up Aquathrillway in Fremantle,“ he explains.
By the late 1980‘s, he was in Kuala Lumpur to discuss plans to open a water park somewhere near Desa Petaling when a chance meeting ended with him making a decision that would eventually change the leisure industry in Malaysia.
“I was in Merlin Subang Jaya having a few drinks when a friend said he wanted to introduce me to Tan Sri Dr Jeffrey Cheah, the Founder and Executive Chairman of Sunway Group. Tan Sri Jeffrey was the one responsible for envisioning the integrated development project in which Sunway Lagoon is part of today,“ recalls Holman.
Raising the bar
The water park which is within 15 minutes‘ drive from Kuala Lumpur city centre has been around for two decades and is arguably the primary water park attraction in the country. Spurred by its continuous success, Sunway Berhad recently announced its intention to venture southwards with plans being made to open another theme park on a site overlooking Pendas river, in Medini Iskandar.
Holman however is quick to admit that his initial decision to open a water park in Malaysia, more than 20 years ago, raised a few eyebrows in his native country.
“Most Malaysians at that time weren’t into swimming. So when we first opened our doors to the public, we set a modest target of attracting 300,000 visitors. As it turned out, Sunway Lagoon managed to attract around 900,000 visitors in its first full year.”
Sunway‘s project in Iskandar, however, presents a new challenge for Bill Holman. For one, theme park goers are becoming more discerning. In the past, visitors from within Malaysia made up around 90 per cent of the total number. At present, more than half are visitors from outside the country.
“Theme park enthusiasts have been all over the world in search of the latest thrills. In the Middle-east, there are parks such as Aquaventure at the Atlantis Hotel on the Palm Islands as well as Ice Land Water Park. European visitors, on the other hand would have been to Euro Disneyland and Europa Park. Some may also have been to Tokyo Disney Resort and Lotte World in Japan and South Korea respectively.”
World-class parks
The opening of various theme parks such as Legoland Malaysia in Nusajaya, Ancol Taman Impian in Jakarta and Universal Studios Singapore has changed visitors‘ expectations of theme parks in the Southeast Asian region.
This, according to Holman means that developers in Malaysia must strive to build theme parks that meet international standards in order to please leisure seekers who have come to our shores with high expectations. If that can be done, Holman believes that the idea of setting up a theme park which revolves around water should work in this part of the world due to its hot tropical climate.
Sharing some of the secrets of Sunway Lagoon‘s popularity, Holman opines, “Today, in order for a theme park to draw the crowds, it needs to combine various elements such as water, adventure, nature and wildlife. Providing accommodation such as a hotel will also help visitors to spend more than a day; without rushing through a certain theme park.“
Why parks flourish
Legoland Malaysia and Sunway Berhad, however, are not the only theme parks hoping to expand their operations in Iskandar Malaysia. It was reported last December that Indonesian theme park developer, PT Pembangunan Jaya Ancol was eyeing to take its franchise north of the Causeway as well.
With the economic region fast becoming an attraction, Bill Holman hopes that theme parks developers will seize the opportunity to provide visitors to Johor an experience they will never forget.
The designer extraordinaire also points out that nothing makes him sadder than a rundown theme park. “I am in this business as I feel satisfied upon making visitors leave with a smile. But theme parks need to make a profit, and in order to get repeat visitors, we have to constantly expand and come up with something new. In Sunway Lagoon for example, we recently introduced the Vuvuzela, believed to be the world’s largest water ride. Also, it goes without saying that good and efficient service provided by park workers is a must,” he explains.
Leisure seekers will definitely rejoice upon hearing Bill Holman‘s statement of intent to take the theme park industry in Malaysia to another level. Judging by the success of Sunway Lagoon, Sunway Berhad‘s foray into Iskandar Malaysia will definitely be one to look out for.
Bill Holman clearly remembers Mimaland, which was already in existence when he began working on Sunway Lagoon back in the late 1980‘s. Rather popular among theme park goers from around Kuala Lumpur due to its giant size swimming pool, the hillside park‘s decline coincided with Sunway Lagoon‘s rise in popularity when the latter began operations in 1992.
“Back in those days, a water park meant simply having a few pools and water slides. Ours was not much different, though we gradually added other attractions which included thrill rides, a scream park, an extreme park as well as a wildlife park,“ explains the Consultant Director of Sunway Lagoon Sdn Bhd.
“The park we are in the process of designing will be different due to several factors which include environmental, geographical as well as demographical,” he continues.
A game changer
The Australian is more than happy to talk about his experience in the industry which dates back more than three decades ago. “Previously, I was in waste management. A German friend took me on a trip across the United States where we made regular stops at parks such as Magic Kingdom and SeaWorld in Orlando. I immediately became interested and upon returning home, I went on to set up Aquathrillway in Fremantle,“ he explains.
By the late 1980‘s, he was in Kuala Lumpur to discuss plans to open a water park somewhere near Desa Petaling when a chance meeting ended with him making a decision that would eventually change the leisure industry in Malaysia.
“I was in Merlin Subang Jaya having a few drinks when a friend said he wanted to introduce me to Tan Sri Dr Jeffrey Cheah, the Founder and Executive Chairman of Sunway Group. Tan Sri Jeffrey was the one responsible for envisioning the integrated development project in which Sunway Lagoon is part of today,“ recalls Holman.
Raising the bar
The water park which is within 15 minutes‘ drive from Kuala Lumpur city centre has been around for two decades and is arguably the primary water park attraction in the country. Spurred by its continuous success, Sunway Berhad recently announced its intention to venture southwards with plans being made to open another theme park on a site overlooking Pendas river, in Medini Iskandar.
Holman however is quick to admit that his initial decision to open a water park in Malaysia, more than 20 years ago, raised a few eyebrows in his native country.
“Most Malaysians at that time weren’t into swimming. So when we first opened our doors to the public, we set a modest target of attracting 300,000 visitors. As it turned out, Sunway Lagoon managed to attract around 900,000 visitors in its first full year.”
Sunway‘s project in Iskandar, however, presents a new challenge for Bill Holman. For one, theme park goers are becoming more discerning. In the past, visitors from within Malaysia made up around 90 per cent of the total number. At present, more than half are visitors from outside the country.
“Theme park enthusiasts have been all over the world in search of the latest thrills. In the Middle-east, there are parks such as Aquaventure at the Atlantis Hotel on the Palm Islands as well as Ice Land Water Park. European visitors, on the other hand would have been to Euro Disneyland and Europa Park. Some may also have been to Tokyo Disney Resort and Lotte World in Japan and South Korea respectively.”
World-class parks
The opening of various theme parks such as Legoland Malaysia in Nusajaya, Ancol Taman Impian in Jakarta and Universal Studios Singapore has changed visitors‘ expectations of theme parks in the Southeast Asian region.
This, according to Holman means that developers in Malaysia must strive to build theme parks that meet international standards in order to please leisure seekers who have come to our shores with high expectations. If that can be done, Holman believes that the idea of setting up a theme park which revolves around water should work in this part of the world due to its hot tropical climate.
Sharing some of the secrets of Sunway Lagoon‘s popularity, Holman opines, “Today, in order for a theme park to draw the crowds, it needs to combine various elements such as water, adventure, nature and wildlife. Providing accommodation such as a hotel will also help visitors to spend more than a day; without rushing through a certain theme park.“
Why parks flourish
Legoland Malaysia and Sunway Berhad, however, are not the only theme parks hoping to expand their operations in Iskandar Malaysia. It was reported last December that Indonesian theme park developer, PT Pembangunan Jaya Ancol was eyeing to take its franchise north of the Causeway as well.
With the economic region fast becoming an attraction, Bill Holman hopes that theme parks developers will seize the opportunity to provide visitors to Johor an experience they will never forget.
The designer extraordinaire also points out that nothing makes him sadder than a rundown theme park. “I am in this business as I feel satisfied upon making visitors leave with a smile. But theme parks need to make a profit, and in order to get repeat visitors, we have to constantly expand and come up with something new. In Sunway Lagoon for example, we recently introduced the Vuvuzela, believed to be the world’s largest water ride. Also, it goes without saying that good and efficient service provided by park workers is a must,” he explains.
Leisure seekers will definitely rejoice upon hearing Bill Holman‘s statement of intent to take the theme park industry in Malaysia to another level. Judging by the success of Sunway Lagoon, Sunway Berhad‘s foray into Iskandar Malaysia will definitely be one to look out for.
SINGAPORE: Malaysia has finalised its full report on the proposed high speed rail link between Kuala Lumpur and Singapore.
Mohd Nur Ismal Mohamed Kamal, CEO of the Malaysia Land Public Transport Commission, said the two sides will meet after the Aidil Fitri celebrations at the end of the month.
He said: "The base line alignment and all that is done. But of course, minor changes can still happen. We are just starting the process of engagement and discussion with the Singapore side, with the joint ministerial committee meeting up after Hari Raya."
Speaking exclusively to Channel NewsAsia, Mr Nur Ismal said details of the project, including the modality and funding, will be made public after discussions with Singapore officials.
Estimated to cost US$10 billion, the high-speed rail link is expected to be completed by 2020.
It is set to cut travel time between both cities to 90 minutes and has attracted keen interest from various international companies, including those from China, Japan, France and Spain.
Mr Nur Ismail said industries can expect competitive bidding once open tenders begin next year.
"There's enough room for everyone. The key thing is that both countries will benefit, the conglomerates benefit, the key development along the alignment. We're looking forward to the economic development side of it, the social aspect, the broader macroeconomic growth that will happen because of the link being there," he added.
- CNA/ac
Mohd Nur Ismal Mohamed Kamal, CEO of the Malaysia Land Public Transport Commission, said the two sides will meet after the Aidil Fitri celebrations at the end of the month.
He said: "The base line alignment and all that is done. But of course, minor changes can still happen. We are just starting the process of engagement and discussion with the Singapore side, with the joint ministerial committee meeting up after Hari Raya."
Speaking exclusively to Channel NewsAsia, Mr Nur Ismal said details of the project, including the modality and funding, will be made public after discussions with Singapore officials.
Estimated to cost US$10 billion, the high-speed rail link is expected to be completed by 2020.
It is set to cut travel time between both cities to 90 minutes and has attracted keen interest from various international companies, including those from China, Japan, France and Spain.
Mr Nur Ismail said industries can expect competitive bidding once open tenders begin next year.
"There's enough room for everyone. The key thing is that both countries will benefit, the conglomerates benefit, the key development along the alignment. We're looking forward to the economic development side of it, the social aspect, the broader macroeconomic growth that will happen because of the link being there," he added.
- CNA/ac
why so ? at least things seem positive ?
http://www.theedgeproperty.com/news-...ohor-baru.html
UMLand to launch RM452m Suasana in Johor Baru
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UMLand to launch RM452m Suasana in Johor Baru
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| PETALING JAYA: United Malayan Land Bhd (UMLand) will be launching a residential component in its RM452 million mixed use project, Suasana, in Johor Baru at end-August. Upon completion, Suasana will house a four-star international brand hotel, a tower consisting of serviced apartments and a retail podium. It is sited on a 1.5-acre (0.6ha) freehold commercial land and is located within a five-minute walking distance to the upcoming JB Sentral mass rapid transit (MRT) station, which will link Singapore and Johor Baru. Group CEO Charlie Chia told The Edge Financial Daily the main selling point of Suasana is its proximity to the JB Sentral MRT station. “From Suasana, you can walk across an overhead link into Komtar [Kompleks Tun Abdul Razak]. From there, you can head down to JB central where the station is located,” he said. UMLand group deputy general manager of marketing and sales Kim W Neoh said it is targeting Singaporeans or Malaysians who are currently residing in Singapore. “We have already received an encouraging number of registrants for the units.” The development is in Jalan Wong Ah Fook, located in the heart of Johor Baru central business district and is within walking distance to landmarks such as Komtar, City Square and Galleria Kotaraya, facing the Persada convention centre. Suasana is also close to transport hubs such as Sultan Iskandar Custom Complex (CIQ), Terminal Bas Kota Raya and the JB-Singapore taxi stand. A total of 342 serviced apartment units are up for grabs, with prices ranging from RM650,000 to RM1.3 million. This translates into an average selling price of about RM1,000 psf. There are one- to three-bedroom units with sizes ranging from 646 to 1,195 sq ft and seven premium suites and penthouses with built-ups between 829 and 2,152 sq ft. The living rooms and bedrooms are fitted with air conditioners. The developer also provides kitchen cabinets and appliances such as hood, hob and microwave oven. The lighting, mirror and vanity cabinet will be provided in every master bathroom. The planned facilities are located on the rooftop, with a gym, viewing deck, BBQ pit, management office and rooftop lounge. UMLand is aggressively strengthening its position in Johor and diversifying its revenue stream via an investment portfolio, which will include a series of hotels. At present, the group has 2,044 acres of undeveloped landbank in Johor with an estimated gross development value (GDV) of RM9.36 billion. UMLand plans to launch several projects in Johor by the second quarter of next year. The projects will include residential and commercial properties (GDV of RM959 million) in the existing Seri Alam and Seri Austin townships, as well as niche developments (GDV of RM959 million) in Puteri Harbour (6.7 acres), a joint venture between UEM Sunrise Bhd and Medini Lakeside in Medini GDV (RM1.4 billion;13.26 acres). Also in the pipeline are two industrial projects in Pulai Jaya and Cahaya Baru. Covering 629 acres, the Pulai Jaya project has a GDV of RM718 million and RM687 million for the 333-acre Cahaya Baru development. This article first appeared in The Edge Financial Daily, on August 02, 2013. |
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