KL set to reduce parking bay numbers, increase parking charges to boost public transport Registration

He said the idea was to reduce the number private cars on the road and encourage people to use public transport.

“We are studying this plan thoroughly in terms of its impact and will implement it after the completion of (Line 1 of the) Mass Rapid Transit (MRT) project in 2017,” he told reporters after opening the 7th International Conference on World Class Sustainable Cities 2015 held in Kuala Lumpur today.

Loga said the plan also included imposing higher parking charges and higher development costs for parking bays.

He noted that projects like MRT and Light Rail Transit (LRT) enabled people to move without negotiating traffic.

He also said that revitalising the older parts of the city that are no longer economically viable is the only way to accommodate the continual growth of the city.

The seventh edition of the WCSC this year is on “Urban Regeneration Through Smart Partnerships”, and has attracted more than 500 participants and over 20 government ministries and local councils from across Malaysia.

The conference brings together stakeholders, developers, planners and architects, city authorities and officials, and representatives of residents’ associations.

WCSC 2015 is jointly organised by the Real Estate and Housing Developers’ Association Malaysia Wilayah Persekutuan Kuala Lumpur (REHDA KL), the Malaysian Institute of Planners (MIP) and the Malaysian Institute of Architects (PAM), and is supported and endorsed by Kuala Lumpur City Hall (DBKL).

“Each year we have seen the adoption of many of the ideas from this annual conference and master classes,” said WCSC 2015 organising chairman Datuk N.K. Tong, who is also the past immediate chairman of REHDA KL and the group managing director of Bukit Kiara Properties Sdn Bhd.

“WCSC has inspired all of us to continue to explore better, and more sustainable ways for the growth of KL.”

This year’s conference speakers are the director of the University of Arkansas Community Design Center, the US, Stephen Luoni; director of planning and environment, Gold Coast, Australia, Dyan Currie; chief executive officer of CityMart, Barcelona, Spain, Sascha Haselmayer; and journalist, moderator and innovator from Malmo, Sweden, Catarina Rolfsdotter-Jansson.

The WCSC series, which began in 2009, is designed to showcase successful practices and experiences of world class cities to better understand what makes cities sustainable places to live in, and to inform policy making.

A previous conference case study, the Cheongyecheon River restoration project in Korea, was a prelude to the KL River of Life project, while the experience of Curitiba, Brazil, has informed the transformation of Kuala Lumpur’s bus, MRT and pedestrian projects that include covered walkway systems.

The take-home message is that smart partnerships between local governments and people are key to successful urban regeneration.

“The city is ultimately for its city dwellers, and feedback and aspirations of the people will better help city officials direct their work in delivering tangible benefits for the people,” he said.

Tong said the four speakers showed examples of how urban regeneration can be achieved in an impactful way with smart partnerships between the business community and city dwellers.

“Sascha’s presentation was especially eye opening. It gave a fresh perspective on how city governments around the world have started to develop smarter procurement processes, not by asking for pricing for narrowly specified solutions, but sharing very clearly articulated problems, and inviting bids for solutions that could solve the problems,” he said. He added that the wide use of technology and social media enables socialising and soliciting for solutions.

“Sascha also said you have to acknowledge the problem before you can solve it. Go to the younger people who have different opinions and different solutions and ideas,” he said.

Rolfsdotter-Jannson talked about her hometown in Sweden — one of the most bicycle friendly cities in the world, allowing her to bike 350 out of 365 days a year, even during winter. She said public transport in Malmo is prioritised over cars and the city centre is car-free. It takes just 30 minutes to cycle across the city of 320,000 people, she added.

Meanwhile, Luoni encouraged tapping university students to solve problems, and Currie elaborated on transport hubs as the backbone for ongoing development.

“While many of these themes have been presented at previous WCSCs, it was refreshing to see these common themes re-emerge and how different cities interpret them differently and successfully,” Tong noted.

The master class sessions that were included in the conference programme and held on Sept 30 also went well. Tong said there was engagement between DBKL officers, residents’ association representatives, and industry professionals, in concurrent half-day sessions led by Haselmayer and Luoni. The sessions explored regeneration opportunities in the Sungai Besi and Chow Kit areas.

“While the focus was on these two areas within KL, the process of consultation, discussion, brainstorming and decision-making was just as valuable, and DBKL officers went away with valuable feedback to study more options,” he said.

Workshops tomorrow will discuss the regeneration potential of the Sungai Besi and Chow Kit areas, involving the key stakeholders such as local authorities and residents’ associations.

 

News source: The Edge and The Malaysian Insider, 29 September 2015

Malaysia’s first Hello Kitty Gourmet Café opens in Sunway Pyramid Registration

The first of its kind in Southeast Asia, the Hello Kitty Gourmet Café is the latest addition to other similar cafes already in operation in places such as the US, South Korea, Hong Kong and Japan.

 

Stepping inside, the walls are adorned with adorable Hello Kitty paintings and cheerful, comfortable pastel chairs. — Picture courtesy of Sunway Pyramid

 

There’s even a private corner at the Hello Kitty Gourmet Café. — Picture courtesy of Sunway Pyramid

 

Located at the ground floor of Oasis Boulevard at Sunway Pyramid, guests may think that they are at a quaint Parisian café until they step inside, into the realm of Hello Kitty that is.

Inside the café, you’ll find walls adorned with adorable Hello Kitty paintings that complement the cheerful, comfortable pastel chairs that of course, also feature an emblem of the White Kitty.

The café is located near the H&M and Caffe Bene. The exact address is at Lot OB3.F.6, Oasis Boulevard.

 

Walls adorned with adorable Hello Kitty paintings that complement the cheerful, comfortable pastel chairs that also feature an emblem of the White Kitty. — Picture courtesy of Sunway Pyramid

 

What about the food you ask?

Well, among others, there’s grilled salmon with asparagus, cherry tomatoes and Hello Kitty-shaped potato slices, crispy Hello Kitty-shaped aubergines with chocolate drizzle, grilled duck and mango salad as well as desserts like Hello Kitty waffles and strawberry and chocolate churros.

 

How cute are these Hello Kitty Waffles! — Picture courtesy of Sunway Pyramid

 

A delicious looking dish of grilled salmon with asparagus, cherry tomatoes and Hello Kitty-shaped potato slices. — Picture courtesy of Sunway Pyramid — Picture courtesy of Sunway Pyramid

 

Crispy Hello Kitty-shaped aubergines with chocolate drizzle! — Picture courtesy of Sunway Pyramid

 

Grilled duck and mango salad. — Picture courtesy of Sunway Pyramid

 

Salmon salad with mixed vegetables, raspberries and olives. — Picture courtesy of Sunway Pyramid

 

Strawberry and chocolate churros. — Picture courtesy of Sunway Pyramid

 

– Sunway Pyramid and The Malay Mail Online, 24 September 2015

Eco World buys 2,198 acres of land for RM15 billion township in Kuala Selangor Registration

In a filing with Bursa Malaysia today, Eco World said its wholly-owned subsidiary Paragon Pinnacle Sdn Bhd has signed five separate conditional sale and purchase agreements (SPAs) with four vendors for the proposed acquisition.

It expects the proposed acquisitions to be completed by the second quarter of 2016.

The indicative market value of the lands, as appraised by Henry Butcher Malaysia Sdn Bhd via its valuation letter on 21 September 2015, was RM1.1896 billion, hence the purchase price represents a discount of approximately 0.7% of the market value of the lands, said Eco World.

Eco World said it intends to develop the lands into a self-contained township with a potential total gross development value of approximately RM15 billion, based on preliminary management estimates.

According to the property developer, the proposed development is expected to be developed over a 15-year period.

“Paragon Pinnacle is currently in the initial stages of development planning and as such, is unable to ascertain the expected costs required for the development to be undertaken on the lands,” it added.

According to Eco World, the developments planned on the land comprise a:

  • mixed eco-township named Eco Gardens (1,400 acres),
  • an integrated and gated industrial hub Eco Business Park V (518 acres), and
  • an affordable homes’ portion to be known as Laman Indah, which will be built on the remaining 280 acres.

The filing stated the lands are located in the north-west of Klang Valley and are approximately 45km from the Kuala Lumpur city centre and 40km from the Petaling Jaya city centre.

The lands are well connected to established suburban centres such as Kota Damansara, Shah Alam and Sungai Buloh via major roads — Jalan Batu Arang, Persiaran Mokhtar Dahari, Jalan Meru Tambahan and Jalan Kuala Selangor, as well as existing highways such as the LATAR Expressway, North-South Expressway and Guthrie Expressway.

“The accessibility to the lands is expected to be enhanced with new proposed expressways including the West Coast Expressway,” the filing added.

Major townships and developments within the vicinity of the acquired lands are HillPark Shah Alam, Bandar Saujana Utama, Puncak Alam township and Shah Alam 2 township, as well as a tertiary education institution, namely University Teknologi Mara (UiTM).

Other developments such as Kwasa Damansara, Denai Alam, Sunway Kayangan, Cahaya SPK and Elmina townships are located within a 10 kilometres radius from the lands.

Eco World said the proposed acquisitions will provide the group with sizeable tracts of lands in the North-Western growth corridor of the Klang Valley, enabling it to establish a dominant presence in this area with access to a new market catchment to complement its strong township positioning in the South-Western and South-Eastern corridors.

“The lands’ location in an emerging growth corridor with access to the ports and major suburban centres is ideal for the group to replicate the success it has achieved in Iskandar Malaysia,” it added.

On funding, Eco World said the earnest deposit was funded via internal funds whilst the balance is expected to be funded through a combination of internal funds, bank borrowings and/or equity funding.

“Nonetheless, the actual amount required by Eco World to fund the proposed acquisitions can only be determined at a later stage and the source of such funding will be decided after taking into consideration the gearing level of the group,” it added.

In this regard, Eco World also said it is looking at a partnership for growth business model, whereby it will invite like-minded institutional, private equity and/or corporate partners to co-invest and fund Paragon Pinnacle, which will result in a potential reduction of Eco World’s stake in Paragon Pinnacle.

This, in turn, will bring a corresponding reduction in its obligations to fund the proposed acquisitions.

“Under the business model, we intend to retain a minimum of 30% equity stake in Paragon Pinnacle to ensure that the group will continue to enjoy a meaningful share of the development profits,” it added.

The first SPA was entered between Paragon Pinnacle and Mujur Zaman Sdn Bhd (MZSB) for the proposed acquisition of 11 pieces of land in aggregate approximately 1,107.30 acres for RM578.81 million, translating into a price tag of RM12 per sq ft.

In the second SPA, Paragon Pinnacle is buying a piece of land measuring in aggregate approximately 86.35 acres for RM45.14 million or RM12 per sq ft from Ringgit Exotika Sdn Bhd.

The third SPA is with Liputan Canggih Sdn Bhd, from which Paragon Pinnacle is buying 10 pieces of land, measuring approximately 527.43 acres, for RM218.26 million or RM9.50 per sq ft.

The fourth SPA was with LBCN Development Sdn Bhd for the acquisition of a piece of land measuring approximately 270.81 acres for RM192.41 million, translating into RM16.31 per sq ft.

The final SPA, also with MZSB, was for the proposed acquisition of three pieces of land measuring approximately 206.51 acres for RM146.72 million or RM16.31 per sq ft.

“Barring any unforeseen circumstances, the proposed acquisitions are expected to be completed by the second quarter of 2016 (2Q16),” it said.

The current backdrop has prompted many Malaysian property developers to reduce sales targets, as factors including a weaker ringgit hit consumer sentiment. Analysts at CIMB Investment Bank Bhd said while they were concerned that Eco World’s exercise would stretch its balance sheet, they also viewed the move as a long-term positive for the company.

“Unlike most of the other developers that have cut sales targets and turned cautious, Eco World is still taking advantage of landbanking opportunities and aggressively carrying out new launches.

“Surprisingly, the recent launch of Eco Meadows enjoyed overnight queues. This exemplifies Eco World’s strong execution capability. We view Eco World’s gumption positively,” CIMB Investment Bank wrote in a research report.

Kenanga Investment Bank Bhd said it was “longer-term positive” on Eco World’s land buy, as long as the group was able to secure the right partners, and assumes an associate stake in the project with a minimum 30% stake in a special purpose vehicle.

“We believe this model is one of the best ways to grow their brand and future project earnings, without overtaxing their balance sheet. If they do take on a subsidiary stake in this project, we do not discount the possibility of cash calls, which would be dilutive to shareholders’ returns,” Kenanga said.

 

News source: The Edge, 22 September 2015

Thriven Global Registration

The company had changed its name due to the entry of new major shareholders since 2014, which included Ghazie Yeoh Abdullah, who was appointed Mulpha Land’s group managing director in 2013, entrepreneur Datuk Fakhri Yassin Mahiaddin, who is the eldest son of former Deputy Prime Minister Tan Sri Muhyiddin Yassin, Datuk Low Keng Siong and Lim Chee Khang.

Chua Sai Men, the eldest son of veteran investor and co-founder of RHB Group, Tan Sri Chua Ma Yu, and Brahmal Vasudevan, who is private equity firm Creador’s founder and chief executive officer, have also emerged as key shareholders of the company.

Combining ‘thrive’ and ‘driven’, and true to the meaning of the two words, Thriven Global, under its new management team, plans to be a leader in the domestic and regional property markets, set new standards and build innovative ‘forward living’ lifestyle projects for its customers.

“True to its new company name, Thriven will continue to ensure operational efficiency, maximize resources, acquire and enlarge our landbank, develop more affordable and luxury properties, establish a stronger presence in the property market and register better revenues. That is the Thriven objective to our shareholders and customers,” said executive chairman Datuk Fakhri.

Thriven Global currently has projects in the Klang Valley, Penang and Kedah with an estimated gross development value of RM1.2 billion. These projects will keep it busy until 2018.

The following are the vision statements of the rejuvenated company.

 

Forward Living

We believe that property development is fundamentally about the future, about innovative concepts for the middle-income market, distinguished by cutting edge planning and design.

Our products offer a total lifestyle experience where living, leisure and business come together, in one place. And in pursuit of our vision, we forge mutually beneficial relationships of trust with our business associates and customers.

This is Forward Living, in action.

 

Forward Thinking

We are driven by design and passionate about the delivery of a quality living experience, be that in the creation of new genres in service residences, or master-planned townships with affordable housing.

We innovate every project from the broad view of urban planning all the way through to the core of the product, the living space, where people feel the impact of our design on a daily basis.

We pursue smarter ways of creating spaces with keen attention to detail and sensitivity to evolving market needs, adopting a thoughtful approach to structures and materials. The result is always a complete living environment and a superior product, which will appreciate in value over time.

 

Forward Moving

For us, property development isn’t just about building houses, it’s about creating holistic, sustainable, living communities. It’s about values.

We believe fundamentally in the family as a core unit of society, which is why a ‘Live-Work-Play’ model lies at the heart of our urban planning. We also believe in sustainable development and caring for the environment, which has two aspects.

First, we take care to ensure that green spaces comprise at least 25% of the land area of all our developments. Second, we try to keep our carbon footprint and energy consumption low, making astute choices in our building design and the selection of materials and lighting to achieve this.

 

Forward Looking

We believe that no truly great vision can be achieved without collaboration, the mutually rewarding dynamic that creates value for everyone as it moves toward the goal.

For this reason we have brought together a broad-based team internally with a complementary range of skill sets, leveraging our diverse backgrounds toward the shared objective of transforming the development landscape in Malaysia.

Externally we also believe in cultivating long-term, mutually beneficial partnerships of trust with our business associates, where each contributes their expertise for the best all round result, which for us means happy customers living in well-designed, healthy and sustainable communities.

 

Completed/past developments:

  • Raintree Residence at Jalan Wickham, off Jalan Ampang Hilir
  • 6 Kenny Hills
  • Enclave Bangsar
  • Taman Seri Bayu township in Penang
  • Bukit Panchor Industrial Park in Nibong Tebal, Penang

 

Ongoing/future developments in Klang Valley:

 

Ongoing/future developments in Northern Region:

  • Taman Desa Aman township in Kulim, Kedah
  • Taman Bukit Panchor township in Nibong Tebal, Penang

 

LUMI Tropicana at Petaling Jaya Registration

Luminous Living.
Where lifestyle, leisure and business come together.

Imagine a place where your home is designed around your needs, where all the leisure options you desire are on your doorstep, where your favourite haunts are no more than seconds away, and the line between lifestyle and work is as blurred as you want it to be.

With a dynamic fusion of living, leisure and business, Lumi at Tropicana is a community shaped around you — homes tailored to your lifestyle, shops and restaurants where you live, maintenance on hand, concierge services upon request, an address giving you easy access to the city while feeling a world away.

Lumi Tropicana is home to four majestic towers each with 186 serviced residences in two to three bedroom configurations, and they will rise 35 levels from the spacious grounds. Each apartment has been thoughtfully designed and comfortably proportioned to make your living a pleasure, with select units offering panoramic views over the neighbouring golf course. A select group of 62 SOHO units is also provided for those who want to bring work and lifestyle together, in one space.

To ensure your comfort and convenience all year round, Lumi at Tropicana offers both housekeeping and concierge services on demand. The same thoughtful attention to detail infuses every facet of the Lumi experience — from the generous green spaces and facilities provided for your rest and recreation, to play areas and abundant parking.

And yet living at Lumi means more than belonging to a community that’s the first of its kind in Petaling Jaya. Every day beckons with opportunity — the dazzling retail options that anchor your address at Lumi Marketplace, the city’s newest lifestyle destination, and much more just around the corner. After a long day in the city, Lumi takes the strain and welcomes you home.

The finest shopping, medical care, educational institutions, national expressways, an upcoming MRT (Line 1) and LRT (Line 3) stations, these advantages are all easily accessible from home. In a city that’s on the go, Lumi at Tropicana sets the stage for living — and moving — with style.

Inspired by Design. 
Built with Quality.
Crafted for Lifestyle.

 

Now Open For Sale

 

Overall Development Concepts

 

Open For Registration

 

  • Lumi Tropicana is the first project under Lumi Collections of branded service residences.
  • Located in the heart of Petaling Jaya’s bustling Damansara corridor and in the heart of the affluent enclave, tree-lined neighbourhood of Tropicana Golf & Country Resort — a 27-hole championship award-winning golf course.
  • Close proximity to many established and matured workplaces (i.e. MSC Cybercentre), amenities (i.e. Clubhouse, SJKC Damansara, Jaya Grocer) as well as the upcoming St. Joseph’s Institution International School Malaysia — the largest international school in Petaling Jaya offering pre-school, primary, secondary and junior college.
  • The residential towers are designed to front either the residents’ Lumi Park or the breathtaking “million-dollar” golf view and the massive green lungs of the Rubber Research Institute of Malaysia (Kwasa Damansara).
  • It aims to achieve GBI Gold compliance. At least 32% of its development land is reserved for landscape and greeneries.
  • Lumi Tropicana is an upcoming Transit/Transport Oriented Development (TOD) with the proposed LRT3 Line’s Lien Hoe Station stopping at the doorstep of Lumi Marketplace.

    From here, you will be less than 10 minutes away to Station 3/Glenmarie (KJ-LRT Line) and Bandar Utama (MRT Line 1) interchanges. Or 20 minutes away to LRT3 Line Stadium Station interchanging BRT Kuala Lumpur-Klang.

  • Landmark iconic architecture by Singaporean designers of YTL’s The Capers.
  • Lumi Residences consists of four thematic towers — Play, Action, Wellness and Business & Lifestyle. Each of these towers have its own choreographed facilities at its double-level Sky Terrace as well as unique lobby statements.
  • Lumi Tropicana incorporates an integrated, developer-managed retail component — Lumi Marketplace, where proposed outlets such as a gourmet grocer, laundrette, salon, restaurants and cafés will serve you for long hours.
  • Lumi Marketplace offers a unique retail cabana amid outdoor dining area with lush greens and lawn area that congregates people. Lumi believes in the philosophy of creating a dynamic and interactive community to enhance visibility and future property value.
  • Lumi Tropicana is complemented by Lumi Hospitality — providing an in-house housekeeping services (provided on-demand basis) and a 12-hour concierge service.

    It’s hotel-like concierge service includes personalised assistance such as valet and bellman, arranging bookings and regular shuttle services to MRT, home maintenance appointments, rental management services and other ad-hoc needs.

    The housekeeping service is uniquely designed to perform upkeep chores at your own desire. Cleaner rates will be packaged in either ad-hoc basis or a yearly contract.

  • Lumi Park uniquely features a sunken full-sized tennis and futsal courts, putting green with sand bunker, remote control toys ground, rock climbing walls, lush BBQ area for family functions and shaded walkways linking all tower lobbies to the parking block lift cores.
  • The Lumi Pool features a 190-metre length infinity lap pool in a curved formation overlooking the breathtaking views of Tropicana golf grounds. It is the longest residential pool in Malaysia and it is 40-metre longer than the infinity pool at Marina Bay Sands in Singapore.
  • Thematic facilities include sky dining, wine lounge, theatre, self-spa and library amongst others. Residents are able to access these facilities using their security card.
  • All four towers have direct access to Lumi Park at Level 7, which is the common floor with the carpark block besides ground floor. You may just chill and walk down in style to the pool deck.
  • Parking for residences are on carpark podium block whereby SOHO and Marketplace parking will be at sub-basement below the retail block. This segregation ensures privacy for residents right from the entrance of the development.
  • Different lift lobbies for residence and SOHO components. Security access card is required to enter the residence lobby.

 

Residence Concepts

  • Only 6 units per typical residence floor served by 3 high-speed lifts (1 second per floor), including 1 service/stretcher lift with two-sided openings.
  • Natural ventilation for main corridor and service corridors. Each level has a refuse chamber room that is located within the enclosed service corridor next to the service lift, without exposing to the main corridor.
  • Unit entrances do not face one another.
  • Sizes below 1,000 sf are semi-Ds in the sky, with additional windows for the second bedroom.
  • Homeowners can choose his/her preferred efficiently-designed unit sizes consisting of no balcony, single bay balcony, double bay balconies or even full/triple balconies.
  • The unit right above your unit could be different than yours due to balcony configurations. This enables a unique external facade inspiration that sets Lumi Tropicana apart from others.
  • At least 2 or 2+1 and 3+1 bedroom configurations to cater to market demands of a family, as well as expatriate family who lived alongside schooling children.
  • Selected types come with two ensuite bedrooms which refers to a master bedroom and a junior master/bedroom 2.
  • Selected types provide island bar/breakfast counter area, grand kitchen and the larger-sized Type C provides utility/maid’s room with attached toilet.
  • The largest unit comes with a private garden and terrace before the main entrance of the unit. Walk into a “landed” property in the sky!
  • Fully-fitted kitchen and bathrooms. Additionally, Type C comes with a sunken bath tub in the master bathroom.
  • All units are furnished with air-conditioning, quality built-ins, fittings and appliances, wardrobes and one storage cabinetry. Plaster ceiling and lightings are also provided.
  • Sky gardening or watering activities are encouraged for unit owners of bay balcony with planter boxes.
  • All units do not have AC ledges as these areas have been allocated neatly at internal corridor ledges for easy, safe and non-hassle maintenance works. Ultimately, homeowners maximised net floor area and higher unit floor efficiency.
  • Safety technology is embraced. A unique keyless home access system will be introduced.
  • Homes and throughout the development are high-speed Internet 4G-ready with the latest Fibre-To-The-Home (FTTH) technology.

 

SOHO Concepts

  • Exclusive SOHO duplex suites with 62 units only. All suites are double storey. (SOHOs are not open for sale at the moment).
  • Flexible and contemporary spaces for live-work environment for boutique business owners.
  • Stylish island mezzanine living for privacy purposes with double void and double volume.
  • Comes with a versatile spiral staircase in every unit.
  • Fitted with quality and modern essentials such as cabinets and electrical appliances, wardrobes and rain showers, sanitary ware and bathroom fitting as well as lightings.
  • All SOHO suites will be provided with allocated carpark at sub-basement level.

 

Lumi Hospitality

Stepping into a home that’s clean and comfortable give us all a wonderful feeling. At Lumi Collections, the Lumi hospitality management will offer you an optional pay-on-demand housekeeping services that is tailored to your every need.

 

 

Property Details

Name :   Lumi Tropicana Phase :   – Developer :   Mayfair Venture Sdn Bhd      (a wholly-owned subsidiary of Thriven       Global Berhad) Location :   Persiaran Tropicana, Petaling Jaya Property Type :   Service Residence and SOHO Suites Sch. H of HDA :   Yes for both Tenure :   Leasehold 99 years Land Area :   6.42 acres No. of Blocks :   – Play Tower (A1) – 35 storeys     – Action Tower (B1) – 35 storeys     – Wellness Tower (A2) – 35 storeys     – Business & Lifestyle Tower (B2) – 35        storeys     – Lumi Marketplace & SOHO – 4 storeys     – Residence Carpark Block – 7 storeys No. of Units :   Service Residence: 744 units     – 186 units in each residential tower     SOHO Suites: 62 units of Duplexes     Lumi Marketplace is not for sale No. of Lifts :   3 high speed lifts in each residence tower     Separate sets of lifts for SOHO Suites Unit Types :   Type As are 2-bedder unit     – Type A: 862 sf (No balcony)      – Type A1: 920 sf (1 bay balcony)      – Type A2: 979 sf (2 bay balcony)     Type Bs are 2+1 bedder unit     – Type B: 1,010 sf (No balcony)      – Type B1: 1,085 sf (1 bay balcony)      – Type B2: 1,159 sf (2 bay balcony)     – Type B3: 1,009 sf (No balcony corner)     – Type B4: 1,084 sf (1 bay balcony corner)     – Type B5: 1,084 sf (1 balcony corner)     Type Cs are 3+1 bedder unit      – Type C: 1,509 sf (Full 3 balcony corner)     – Type C1: 2,218 sf (Full 3 balcony corner         with private garden/terrace) Car Parking Bay :   Provided and allocated per unit     Units below 1,000 sf: 1 carpark bay     Units below 1,500 sf: 2 carpark bays     Units above 1,500 sf: 3 carpark bays     Total of 2,000+ carpark bays Green Rating :   GBI Gold (Provisional) Price Range :   From RM857,650 onwards Price Per Sq Ft :   From RM915 psf onwards Maintenance :   RM0.33 psf, inclusive sinking fund and     concierge service Completion :   Q4 2019

 

Specifications & Features

Corridor :   Natural ventilation     Common AC ledges located off main     corridor to allow easy maintenance works Refuse Chamber :   Proper refuse room with service corridor Ceiling Height :   Floor to floor height – 3.05m (10 ft) Security Tier :   At least 3-tier security provided:     (1) At ground level entrance checkpoint     (2) Entrance to lift lobby      (3) Lift access to resident’s unit floor Security Feature :   State-of-the-art Lumi Security features:     (1) 24/7 guarding and patrol     (2) Keycard access system to lift lobby           and to your unit floor and keyless           home access enabled     (3) Intercom connectivity     (4) CCTV and HD Digital Video remote           surveillance Structure :   Reinforced concrete Wall :   RC wall/brickwork Windows :   Aluminium trim glass window Entrance Door :   Timber door – Fire rated Wall Finishes :   Plaster and paint     Wall tiles full height for all bathrooms Floor Finishes :   – Homogeneous tiles for living, dining, dry        and wet kitchen, balcony, all bathrooms,        utility/maid room and foyer     – Vinyl flooring provided for all bedrooms         and study room Sanitary :   Water closet, wash basin with fittings,     accessories for all bathrooms and rain     showerhead provided

 

Unit Provisions

Kitchen :   – Kitchen cabinet with hob and hood,        microwave oven and refrigerator     – Island bar/breakfast counter provided for        selected type with designated area Wet Kitchen :   Washer-dryer combo unit Air Conditioning :   Air-conditioning units provided for     living, dining and all bedrooms, except     utility/maid room Water Heater :   Hot water system provided for all     bathrooms with shower Bedroom :   Full height wardrobe(s) provided for all     bedrooms Bathroom :   – Shower screen and vanity top provided        for all bathrooms with shower     – Quality bathroom cabinetry     – Long bath for Type C’s master bathroom Storage :   Shoe storage cabinetry Ceiling :   Plaster ceiling for all areas Lighting :   Mix of low energy and LED downlights     for all areas (*To be confirmed) Planter Box :   Ready-to-plant soil

Contact Developer

Sales Gallery :   Lumi Gallery     17, Jalan Semangat      46100 Petaling Jaya      Selangor  Tel / Hotline :   +6018-605 8888     +603-7688 1266 Project Website :   www.lumicollections.com

 

Now Open For Sale

 

 

Events & Happenings

Lumi Christmas Lunch Party

Date: Saturday, 19 Dec 2015

Venue: Lumi Gallery, Jalan Semangat, PJ

 

 

 

Facilities

All towers sit on an airy common recreational level which houses the pool deck and stylishly linked to the residents’ Lumi Park via glass-framed skybridges. Each thematic tower offers its own unique blend of luxurious and well-appointed facilities, with over 60% of the development reserved for landscaping.

 

Entrance Statement

      • Water feature

 

Level 4A: Pool Deck

      • Infinity lap pool (190m x 6.25m)
      • Jacuzzi (57.5m)
      • Submerged sun deck
      • Kid’s water play and wading pool

 

Level 4A: Floating Overhead

      • Action Tower: Function room 1 (1,776 sf)
      • Business & Lifestyle Tower: Function room 2 (1,776 sf)

 

Level 7: Lumi Park

      • Shelter
      • Remote control toys
      • Stream/water body
      • Yoga/reading area
      • Reflexology area
      • Pocket park
      • Children excitement area/playground
      • Rock climbing area
      • Putting green with sand bunker
      • Jogging track – Roller blade path – Cycling path
      • Family BBQ area
      • Sunken futsal court
      • Sunken tennis court

 

 

 

 

Level 19-20: Sky Terrace for Play Tower

      • Fully-equipped music room
      • Theatre
      • Library/study room
      • Kid’s jungle gym

 

 

Level 17-18: Sky Terrace for Action Tower

      • Badminton court
      • Squash court
      • Table tennis room
      • Games room with darts, pool table and foosball

 

 

Level 19-20: Sky Terrace for Wellness Tower

      • Self-spa with steam room and sauna
      • Gymnasium
      • Yoga and pilates studios

 

 

Level 17-18: Sky Terrace for Business & Lifestyle Tower

      • Fully-equipped conference or meeting room
      • Wine cellar/cigar lounge
      • Sky dining
      • Sky bar

 

 

 

Proposed outlets and facilities at Lumi Marketplace

 

Outdoor area

      • Retail cabana: outdoor dining area
      • Retail cabana: private function area
      • Sky trex

 

Retail area

      • Lumi Grocer
      • Café
      • Sushi bar
      • Sandwich bar
      • Burger/pizza
      • Bakery
      • Juice bar
      • Ice cream parlour
      • Italian restaurant
      • Japanese restaurant
      • Fusion restaurant
      • Salon
      • Laundrette
      • Book store

 

 

 

 

 

 

 

 

 

 

 

The Developer

Kuala Lumpur-based Thriven Global Berhad is a Malaysian public-listed property developer. Formerly known as Mulpha Land Berhad, the company adopted its new name in June 2015 to reflect its new direction with a new management team.

Combining ‘thrive’ and ‘driven’, and true to the meaning of the two words, Thriven Global, under its new management team, plans to be a leader in the domestic and regional property markets, set new standards and build innovative ‘forward living’ lifestyle projects for its customers.

Thriven Global currently has projects in the Klang Valley, Penang and Kedah with an estimated gross development value of RM1.2 billion. These projects will keep it busy until 2018.

 

View Full Profile

 

The Architect

 

Singaporean architecture firm RT+Q Architects explores architecture as an inter-disciplinary craft that combines the elusive beauty of art and the rigours of building technology.

Since its founding in 2003, RT+Q has remained committed to the notion of architecture as a form of plastic sculptural art. The search for form is a preoccupation of the design approach. Distinct forms, pure shapes and clear lines form the basis of the RT+Q design language.

RT+Q’s works have been honoured in Singapore and internationally. Awards and mentions received include those from the SIA Architectural Design Awards, the President’s Design Award, the URA Architectural Heritage Awards, International Design Awards and Malaysia’s PAM Awards. RT+Q’s Bali House was on the shortlist for the “World Architectural Festival 2012” for the future house category and recently won a gold medal in the ARCASIA Awards for Architecture 2014. RT+Q also received an honourable mention for House with Courtyards at the SIA Architectural Design Awards 2014.

In Malaysia, RT+Q was involved in designing YTL’s projects such as d6, d7, The Capers and The Fennel.

 

View RT+Q Website

Location Map

GPS Coordinate: 3.128850,101.594943

 

Street View

Lumi Tropicana’s hoarded site seen from Persiaran Tropicana.

Accessibility, Amenities & Infrastructure

Distance:

      • 15mins to Subang SkyPark Terminal
      • 20mins to Bangsar
      • 35mins to KLCC
      • 50mins to Kuala Lumpur International Airport

 

Accessibility:

      • Persiaran Surian
      • New Klang Valley Expressway (NKVE)
      • Damansara-Puchong Expressway (LDP)
      • Penchala Link
      • Sprint Expressway via Jalan Damansara
      • Jalan Lapangan Terbang Subang via Jalan PJU 1A/1

 

Public Transportation:

      • 4.4km to Upcoming MRT Surian Station (MRT Line 1)
      • 5.0km to Upcoming MRT Mutiara Damansara Station (MRT Line 1)
      • 5.3km to Upcoming MRT Kota Damansara Station (MRT Line 1)
      • 5.6km to Upcoming MRT Bandar Utama Interchange Station (MRT Line 1 and LRT3)
      • 6.8km to Upcoming MRT TTDI Station (MRT Line 1)

 

Future Infrastructure:

      • Road tunnel upgrade enabling smooth access on Persiaran Tropicana.
      • Removal of road divider at the entrance of Lumi Tropicana.
      • Proposed doorstep connection to the proposed LRT3 Lien Hoe Station.
      • Three stops away to MRT Bandar Utama Interchange Station (MRT Line 1 and LRT3).
      • Three stops away to LRT3 Glenmarie/Station 3 Interchange Station (LRT3 and Kelana Jaya LRT Line Extension).

 

Telecommunication:

      • Fibre optic backbone
      • Standard area backbone

 

Business Park:

      • Next door to Persoft Tower (MSC Cybercentre) and Bangunan 3M
      • 0.2km to Menara Lien Hoe
      • 1.8km to Dataran Prima
      • 2.8km to 1 Tech Park (MSC Cybercentre)
      • 3.5km to Symphony House, Ara Damansara
      • 4.4km to Surian Tower, Mutiara Damansara
      • 5.7km to 1 First Avenue (MSC Cybercentre)
      • 6.8km to Menara LGB (MSC Cybercentre)

 

Shopping Centre:

      • 0.6km to Jaya Grocer @ Mutiara Tropicana
      • 3.2km to Tesco Ara Damansara
      • 3.3km to Citta Mall Ara Damansara
      • 3.8km to Evolve Concept Mall, Ara Damansara
      • 4.2km to Sunway Giza
      • 4.8km to 1 Utama Shopping Centre
      • 4.9km to The Curve Shopping Centre
      • 4.9km to Tesco Mutiara Damansara
      • 5.0km to IKEA Damansara
      • 5.0km to IPC Shopping Centre
      • 5.1km to Atria Shopping Gallery
      • 5.2km to The Starling Mall @ Damansara Uptown
      • 6.5km to GLO Damansara Mall
      • 6.7km to Tropicana City Mall
      • 7.5km to Empire City Mall

 

School & International School:

      • 0.7km to St. Joseph’s Institution International School
      • 0.8km to SMK Tropicana
      • 1.4km to SJK(C) Damansara
      • 3.1km to The British International School of Kuala Lumpur
      • 3.5km to SJK(C) Puay Chai 2 Bandar Utama
      • 5.5km to Sri KDU International School

 

University & College:

      • 3.2km to KBU International College
      • 5.2km to SEGi University – Kota Damansara Campus
      • 5.5km to KDU College – Damansara Jaya Campus

 

Healthcare:

      • 5.3km to Ramsay Sime Darby Medical Centre Ara Damansara
      • 5.3km to Tropicana Medical Centre
      • 6.2km to KPJ Damansara Specialist Hospital

 

Leisure & Recreational:

      • 0.5km to Tropicana Urban Park
      • 1.2km to Clubhouse and Sports Centre of Tropicana Golf & Country Resort
      • 2.6km to Seri Selangor Golf Club
      • 3.5km to The Club @ Bandar Utama
      • 4.8km to Bandar Utama Golf Course

 

Nearby Landmarks:

      • 2.9km to Wisma BU8 (Anytime Fitness)
      • 3.1km to McDonald’s Bandar Utama Drive-Thru
      • 3.2km to Centrepoint Bandar Utama
      • 4.0km to Oasis Square, Ara Damansara

Lumi Residences

View the embedded image gallery online at:
http://ptlm.com.my/index.php/lumi-tropicana#sigProId06a2bb9536

Building Plans

View the embedded image gallery online at:
http://ptlm.com.my/index.php/lumi-tropicana#sigProId29447715d2

Lumi Marketplace

View the embedded image gallery online at:
http://ptlm.com.my/index.php/lumi-tropicana#sigProId2fefb620b5

Lumi SOHO

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http://ptlm.com.my/index.php/lumi-tropicana#sigProIdcd207ca8fc

Showunit for Lumi Tropicana

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http://ptlm.com.my/index.php/lumi-tropicana#sigProId0ecfbd0f15

Construction Progress

View the embedded image gallery online at:
http://ptlm.com.my/index.php/lumi-tropicana#sigProId485f680bfe

PTLM Guide is a general guideline that could be used by an investor to gauge the concepts and sustainability of any development. The key points are outlined here for easy reference. This enables an investor to evaluate his strategy of investment based on systematic set of criterias.

In this page, we do not publish specific scores achieved by this project for any of these criterias.

 

A. The Entry Facts

  • Location, visibility and environment

Lumi Tropicana is located on Persiaran Tropicana in Tropicana Golf & Country Resort, Petaling Jaya and by the side of the New Klang Valley Expressway (NKVE). Persiaran Tropicana leads you to Kota Damansara (Persiaran Surian) on the north and Ara Damansara (Jalan PJU 1a/1) at the southern end, while connecting to Lebuh Bandar Utama towards the east with easy access to 1 Utama Shopping Centre. It is located just at the fringe of Tropicana Golf & Country Resort, Malaysia’s largest golf course and clubhouse in the prospering corridor of Petaling Jaya Utara-Damansara.

High visibility is offered as those travelling on NKVE and those exiting the Damansara Interchange (enroute to KL) will not miss its architecturally-unique towers in the future. Residents of Lumi Tropicana will enjoy breathtaking views of golf grounds, gated communities and villas/bungalows, the rising skyline within this corridor, and the horizon views of sunset towards Rubber Research Institute Malaysia (RRIM) land in Sungai Buloh on the far west and the KL City skyline on the far east.

Lumi Tropicana is situated next to four office towers, namely – (1) Bangunan 3M, whose anchor tenant is 3M Malaysia; (2) Menara Persoft, a MSC Cybercentre location; (3) Bangunan Damansara Fairway, whose anchor tenant is AmBank Bhd; and (4) Menara Lien Hoe, which had undergone upgrading works with tenants such as Bristol-Myers Squibb, Eisai Malaysia, Mead Johnson Nutrition, LEO Pharma and Radiance Communications. Menara Lien Hoe was formerly home to the headquarters of GlaxoSmithkline in Malaysia.

Typically, the address of Tropicana carries an affluent touch due to the profile of the residents here. The Tropicana enclave is home to a significant number of family-based expatriates and golf-loving members of the championship course, who are locals and various nationalities, i.e. Japanese. Residents of the surrounding vicinity will need to pass through this development as they get into the Tropicana Main Entrance (Arch) or leaving this area towards Lebuh Bandar Utama via the Road Tunnel (below NKVE) – which will be upgraded by the developer, Tropicana Corporation Bhd and Prasarana Malaysia Bhd in the future.

We noted that the location is quiet for most of the weekends and Persiaran Tropicana can be heavy in traffic during the morning rush hour as residents in Ara Damansara/Subang uses this road to access Kota Damansara enroute to LDP and northern parts of KL. We particularly like its “tree-lined” dual-lane carriageway for most parts of Persiaran Tropicana. We are concerned about the road tunnel and the potential flooding. We are comforted by the developer that a road tunnel upgrading scheme is currently being planned for future usage, as we felt that the existing dual-usage road tunnels are inadequate and not well-maintained (water ponding when rain) to cope with the traffic there.

  • Distance to key locations and growth value of an address

Being located in Petaling Jaya, Lumi Tropicana is within close driving reach to 15 shopping malls and established retail centres. It is less than 1km away to Jaya Grocer at Mutiara Tropicana and upcoming retail shops at Tropicana Avenue which possibly anchored by a Village Grocer outlet.

Lumi Tropicana is only 15 minutes drive to the Subang SkyPark, which is Kuala Lumpur’s secondary airport and is the main base for business jets and domestic commercial turbo-prop operations viz. Firefly and Malindo Air. Its relatively short distance to the airport makes it appealing to future tenants who travel frequently.

Within a 2km radius, property owners will look forward to an upcoming international school, the St. Joseph’s Institution International School (Opening in 2016); a Chinese-medium primary school, SJK(C) Damansara; the clubhouse and sports centre at the Tropicana Golf & Country Resort; and several multi-national offices next door. The upcoming LRT and MRT projects will definitely bring more people into this area, bring more commercial establishments, ease traffic flow and improve the current environment.

  • Concepts, architectural and practicality aspects

“70% percentile” integrated living concept is achievable. Live, dine and shop within. Missing components are work, play and entertain which is no issue as the location is a short drive away to various business centres, shopping centres and an established clubhouse with a variety of restaurants and buffet as well as an integrated fitness and sports centre and a 56-bay driving range.

Lumi Tropicana has a unique architecture that is possibly among the most outstanding in Petaling Jaya. The juxtaposed and checkered array of balconies provide a refreshing outlook when viewed from ground level. Its trademark architectural fins provide a post-modern feeling to the façade and will be highly visible from far. Landscaped greens are greatly emphasized within its generous Lumi Park on Level 7 of the purpose-built carpark podium block.

  • Density of development

The total number of service residence is 744 units. They are equally hosted in each of the four 35-storey towers, hence 186 units per block. Alternatively, we counted 115 units built per acre of land.

The total gross floor area (GFA) is derived from a plot ratio of 4.0, which is relatively a standard density for recent developments on commercial land in Petaling Jaya suburbia. Hence, we believe that the density of the development is average or mid-range.

We noted that there are 62 units of Small Office Home Office (SOHO) at the lower podium block, with 31 units per duplex level, situated right above the retail component known as Lumi Marketplace. These SOHO units are deemed as “limited edition” property here, as the developer briefed us earlier that they would be selective to selling these units to those who genuinely work-from-home in order to create a balance between pure residential usage in tower blocks and work usage in SOHO units.

  • Developer and branding

Previously known as Mulpha Land Bhd, today Thriven Global Bhd, under the new management team, is building itself to be an uprising property developer in the coming years. The developer has projects in the Klang Valley, Penang and Kedah with an estimated gross development value (GDV) of RM1.8 billion planned for launch in the next 18 months. These projects will keep it busy until 2019.

The vision of the developer is to advance luxurious-yet-affordable highrise living under an aspirational brand called Lumi Collections while maintaining community-focused development under Enesta Affordable Series which are price-driven or township-based.

Lumi Tropicana is the company’s first property development, hence it is most vital for the company to prove itself here. As part of Lumi Collections series of affordable luxury homes, the developer intends to offer facility management such as housekeeping and maintenance services while its hospitality and lifestyle retail division will offer hospitality and concierge services as well as rental management for property owners. A rental management team will set up a webportal to post all available units for rent.

The idea will positioned the developer in a different league as it would have provided a one-stop service centre for the whole life cycle of a property, from commencement to development and subsequently completion. Already done so, Thriven’s subsidiary Eco Green Services is currently managing its completed projects (previously under Mulpha) such as Raintree Residence and Enclave Bangsar, both in Kuala Lumpur. Ultimately, the developer aims to grow the Lumi Collections into a full-range hospitality management brand in the near future, similar to Fraser Hospitality chain from Singapore. 

  • Price level and price comparison

As of November 2015, both the first two towers, Play and Action, have an average price range of between RM915 and not more than RM1,100 psf. Majority of its units are priced below the RM1 million mark.

The price psf range is competitive and comparable to the asking subsale price of the nearest property today, Tropicana Avenue. Per square foot basis, it is marginally lower than Tropicana Gardens’ most recent launch property, the Cyperus. It was launched in November 2014. It has a total of 406 units with built-ups from 600 square feet onwards. It has an average gross selling price of RM1,257 psf with a net-after-rebates average of RM1,100 psf. According to Tropicana Corporation Bhd, it has been 80% sold as of October 2015.

However towards the southern side, properties in Ara Damansara command a lower per square foot basis on average, although a recent launch there has catch-up to a gross of RM950 psf. One of the nearest property to Lumi Tropicana is Maisson Ara Damansara, which has built-ups from 500 square feet, selling from RM360,000 onwards, or approximately RM750 psf (for smaller types).

We believe that Lumi Tropicana is most suitable for upgraders looking for own stay and who wish to enjoy the green environment away from the hustle and bustle of city living. As they say, Tropicana is probably “one of the best place to live” in Petaling Jaya given the ample amenities in and around them and a short neighbourhood-drive to major highways. The short supply of landed properties in the vicinity will also help raise demand for highrise ones in the area. The landed properties in the area run into millions of ringgit and are out of reach for many, hence the apartments and condominiums are the next available properties.

In today’s market, typically, the surrounding vicinity area of Tropicana offers an average rental yield at 3.0% to 3.5%. As such, Lumi Tropicana is attractive to property investors who held long-term view in their investments. That means, an investor may not be able to see instant returns but prefers to hold the property for capital appreciation over a longer duration, i.e. >5 years upon delivery of vacant possession. These investors may wish to tap into potential rentals from quality tenant profile, herein targeting affluent locals or foreign expatriates, who are able to afford larger rental amounts over the matured tenancy tenure. It is said that quality tenants may not be in high numbers but the address of Tropicana would have an advantage. The future LRT/MRT connectivity will help boost rental yield.

  • Surrounding commercial, infrastructure, amenities, distance and accessibility

Tropicana is largely an upmarket housing and bungalow/villa enclave with matured amenities. Currently, one would have to drive out to the neighbouring suburb to perform banking and groceries shopping. The nearest commercial hub is Dataran Sunway in Kota Damansara, which is a well known dining and business address. It is also close to Bandar Utama, which has 1 Utama Shopping Complex, one of Malaysia’s largest mall, and a neighbourhood retail plaza called Centrepoint.

If approved by the authorities, Lumi Tropicana will be seamlessly doorstep to the proposed LRT3 Lien Hoe Station. It will be three stops north-bound to MRT Bandar Utama Interchange Station (MRT Line 1 and LRT3) and three stops south-bound to LRT3 Glenmarie/Station 3 Interchange Station (LRT3 and Kelana Jaya LRT Line Extension). Travelling distance to these interchanges should not exceed 15 minutes. To ensure greater privacy for residents, LRT commuters will only alight to the public area of Lumi Marketplace.

Besides the LRT connectivity, Lumi Tropicana’s accessibility will be greatly enhanced with the proposed road tunnel upgrade enabling smooth traffic at the intersection of Persiaran Tropicana. Road lanes will be expanded to three and the existing tree-lined road divider will be removed to allow car entry into Lumi Tropicana.

  • Existing demographics

Tropicana is an affluent area with high-income earners. Neighbouring Kota Damansara and Ara Damansara are largely mix demographic areas with a moderate purchasing power level.

Tropicana Golf & Country Resort is a 625-acre gated and guarded community which is now home to multi-national residents attracted to resort-style living set amidst rolling green, and anchored by the 380,000 square feet Tropicana Clubhouse with the 27-hole East and West championship golf courses adjacent to it. Meanwhile, Tropicana Indah Resort Homes is located on 409 acres of prime land with abundant natural greenery, right next to the Tropicana Golf & Country Resort. The resort development comprises over 1,700 residential units, most of which are landed bungalows, Semi-Ds and villas, business parks and smart schools.

  • Presence of future catalystic projects

Lumi Tropicana is an upcoming transport/transit-oriented development (TOD) as it will be seamlessly connected to the proposed LRT3 Line and Lumi Collections will offer shuttle services to nearby MRT stations.

The mass rapid transit (MRT) Sungai Buloh-Kajang Line, or MRT Line 1, will have 4 stations within 5.5km radius to Lumi Tropicana. As Malaysia develops its public urban rail transportation system, an MRT project will significantly boost property values in the surrounding vicinity. The Surian MRT Station is located at the northern end of Persiaran Tropicana.

LRT3 Line’s designated Lien Hoe Station is a doorstep away from your home at Lumi Tropicana. The urban rail transportation – LRT3 Bandar Utama-Klang – is a new light rail transit line spanning 36km in length with 25 stations including an underground station. The lines travels from Bandar Utama MRT Station to the Johan Setia station, near Bandar Parklands in Klang. The line will serve an estimated ridership of 70,000 per day and travel time between end-to-end will be 51 minutes.

The project owner, Prasarana, had announced the appointment of MRCB George Kent Sdn Bhd as the project delivery partner (PDP) for LRT3 in September 2014. The construction of the RM10 billion project will begin in Q1 2016 and will be completed by 31 August 2020. The first service is expected to begin on 1 September 2020.

  • Continuity development

Lumi Tropicana is a single phase mixed development whereby all its components will be built concurrently. The developer intends to own, manage and lease-out its retail component, the Lumi Marketplace, to ensure the right tenant mix. Several parties such as The BIG Group are already in preliminary talks with the developer to operate the retail space.

Testament to its branding of Lumi Collections, the developer’s vision is to provide comfort and convenience all year round within all its Lumi properties. Come home to its signature hotel-styled housekeeping and concierge services, the Lumi Collections herald a new era in innovative lifestyle-driven residential products and services that are thoughtfully integrated with commercial and public spaces – a collection where experiences are unique, authentic and enriching.

The developer has several upcoming and future developments that will be benchmarked against Lumi Tropicana; this being the first product of service residences under the brand Lumi Collections.

  • Land tenure

Leasehold.

  • Transit oriented development (if applicable)

Direct residents connectivity to rail transportation makes Lumi Tropicana a transport/transit-oriented development (TOD).

  • Integrated retail concept (if applicable)

Lumi Tropicana will house a double-volume retail floor known as Lumi Marketplace. The developer intends to own, manage and lease-out Lumi Marketplace to ensure the right tenant mix. The retail space encompasses both indoor and outdoor areas. The indoor areas are designed to host a variety of outlets such as a Lumi Grocer, bakery, café, casual dining restaurants, laundrette, convenience store, salon and a sports/hobbies store. The outdoor areas are designed for communal interaction whereby specially-built retail cabanas will draw crowds to dine al-fresco and to host private functions amidst greenscapes and lush gardens. As carefully-designed, a single operator of the retail space is able to become an anchor tenant.

With a touch of a lift button, residents will be able to walk into the Lumi Marketplace and enjoy these retail amenities. On the far-end of the retail component will be the Lumi Grocer and commuters will alight in comfort from the LRT station.

  • Competitor risk – peer-to-peer product comparison against its vicinity

There is no doubt that the locality commands a slight premium price level. Its indicative price level would posed a competitor risk against other developments within close proximity with a lower price per square foot. Pricing is subjective to the overall product value proposition. We formed an unbias opinion based on our study of transacted data and understanding of the local market. We feel that the price range for the first two blocks of between RM915 psf and RM1,100 psf is a slight premium to the current immediate subsale price but fairly reasonable for a property completing 4 years down the road. The subsequent blocks are presumably going at a higher average price. There are limited future supply of condominiums with similar unit sizes with Lumi Tropicana in this address.

The nearest luxury condominium from its location will be Tropicana Avenue and Tropicana Grande. The former has similar unit built-ups with Lumi Tropicana but it is a completing-soon project by end of 2015, while the latter, which has a minimum unit built-up of 2,283 sq ft, was a completed project in 2013. According to real estate consultants familiar with the area, the general asking price in the secondary market for Tropicana Avenue Residence’s 660 sq ft (1+1 room/intermediate unit) and 1,019 sq ft (2+1 room/corner unit) would be in the range of RM900 psf to RM1,000 psf.

Competition is relatively high from the vicinity’s northern and southern neighbours of Kota Damansara and Ara Damansara. Cyperus Serviced Residences at Tropicana Gardens (Phase 3) in Kota Damansara, which was reviewed by PTLM in April this year, was going for RM1,267 psf for fully-furnished move-in condition, and later revised to a minimum of RM1,010 psf onwards for bare unit or non-furnished unit. Comparing unit sizes below 1,000 sq ft, the average gross selling price for Maisson Ara Damansara (Freehold) is RM720 psf while The Potpourri @ Ara Damansara (Leasehold) is RM880 psf onwards.

The highest transacted subsale in Cascades Residence in Kota Damansara is RM928 psf which happened last year. In July 2015, Tropicana Grande was transacted at RM802 psf for a 2,283 sq ft unit. For the mass-market and older condominiums, the average transacted subsale in Opal Damansara was RM531 psf; Riana Green Tropicana was RM553 psf; Cita Damansara was RM580 psf; Casa Tropicana was RM592 psf; while Casa Indah was RM623 psf.

 

B. Product Design Buy Factors

  • Practical unit layout design

Unit layouts are mostly “squarish” or in standard rectangle forms. Floor efficiency is relatively high as every space is utilised wisely. There are three main types, whereby Type A refers to sizes below 1,000 sq ft; Type B refers to sizes below 1,500 sq ft; and Type C refers to sizes above 1,500 sq ft.

For Type A which are 2 bedrooms and below 1,000 sq ft, the variants are A: 862 sq ft (no balcony), A1: 920 sq ft (1 balcony for master bedroom) and A2: 979 sq ft (2 balconies for master bedroom and living area). Type A generally are compact in design and promotes an open-concept, compact kitchen without yard. The design optimum is focused in the master bedroom and master bathroom with sufficient closet area.

For Type B which are 2 bedrooms + 1 study room, the variants consist of intermediate types, which are B: 1,010 sq ft (no balcony), B1: 1,085 sq ft (1 balcony for 2nd bedroom) and B2: 1,159 sq ft (2 balconies for master bedroom and living area); and corner types, which are B3: 1,009 sq ft (no balcony), B4: 1,084 sq ft (1 balcony between master bedroom and dining area) and B5: 1,084 sq ft (1 balcony for living area).

The major differences between the intermediate and corner types are (1) the intermediate type has a total of 3 bathrooms including powder room compared to 2 bathrooms for the corner type, (2) this is because the intermediate type has ensuite bathroom for the 2nd bedroom, (3) the corner type has a double-sided glass wall master bathroom protruding the corner structural walls to give it a cool factor, (4) the intermediate type is an open-concept, compact kitchen with a look-through glass wall as opposed to a fully-enclosed kitchen with door for the corner type, and (5) the corner type has both living and dining areas parallel to each other plus a breakfast counter area hence making it a very spacious-looking layout with full double-width glass view to the outside.

We also noted that the 2nd bedroom for the intermediate type fits a single bed only whereas the corner type’s 2nd bedroom is able to fit a queen size bed. Both types have equally compact study room which may fit a single bed if space are maximised to the wall, however, the main cover for the study room will be intended as open, partitionless area.

For Type C which are 3 bedrooms + 1 maid or utility room, the variants consist of C: 1,509 sq ft (full enclosed triple lanai areas) and C1: 2,218 sq ft (full enclosed triple lanai areas with a private garden and terrace). These types are generally catered to family living, with a grand master bathroom with sunken bathtub, a large kitchen area with a provision for maid or utility room and a washing toilet, and glass railing opening for all three lanai areas. Type C1 is unique on its own because one would enter the unit with a gate-door entering the unit private garden and terrace area, which has a double-floor ceiling clearance, before reaching the foyer-front of the unit.

  • Unit orientation

Generally, Lumi Tropicana’s headline orientation is North and South, parallel with the alignment of the NKVE. However, since the shape of the land is a semi-sphere, the tower blocks are built around the curve with the Play Tower facing directly south and proportionately moving westwards as the sequence of the tower blocks follow as such: Action, Wellness and Business & Lifestyle.

Play Tower is the closest to the NKVE and the LRT station and track. Some owner concerns would be noise, air pollution and vibration, however, the developer will be taking steps to minimise its direct impact. Prasarana may also build a sound barrier system and installing track acoustic absorption along sensitive areas to mitigate these pollutions. We noted that Action Tower is built with a slight inward positioning over the Play Tower in order to minimise the direct impact of noise. The Business & Lifestyle Tower will be directly facing west with the most breathtaking view of the horizon above the golf course.

  • Fittings and furnishings (if applicable)

Lumi Tropicana is partially-furnished. The provided items are as follows: 

Foyer: Solid timber fire-rated door.

Air-conditioning: Split units provided for living/dining, all bedrooms (except utility room) and study room.

Living: Full height display/book/shoe storage cabinetry.

Dining: Breakfast counter with sink and island bar (selected unit type).

Kitchen: All kitchen cabinetry top and bottom, hob and hood, microwave oven, refrigerator and washer-dryer combo.

Utility Room: Sliding door (selected unit type).

Bedroom: All bedrooms will have full height single or two wardrobes with corner book shelf.

Bathroom (except maid toilet): Hot water system, rain shower, shower screen, vanity top, glass mirror and cabinetry: wall, top and bottom. Type C will have double-basin vanity and a soaking bathtub.

Ceiling: Plaster ceiling and low-energy or LED lightings installed for all areas.

Balcony: Planter box with ready-to-plant soil.

Lanai: Glass sliding door with security glass (selected unit type).

Services: Delivered with home broadband via Fibre-To-The-Home (FTTH) with 1st year free subscription.

  • Sufficiency of parking bay and carpark allocation

There will be over 2,000 carpark bays provided for residents of tower blocks. As a luxury development on a 6.42-acre land, Lumi Tropicana is designed with a purpose-built residents-only carpark block sitting away from the tower blocks. Residents will find themselves walking through either the ground drop-off level via nearest lift core, or towards the nearest lift core to the respective tower blocks at parking floor and then walking through sheltered walkways at Lumi Park.

The public visiting Lumi Marketplace and office users of Lumi SOHO will enter a sub-basement carpark area from the main entrance. The sub-basement area is segregated from the residents’ carpark block hence providing privacy to residents. 

  • Design of corridor, corridor spaces and ventilation

The corridors are naturally-ventilated and have sufficient natural sunlight. The central core contains the lift lobby. A typical floor in each tower block has a total of 3 lifts serving up to 6 units per floor. The three lifts included one service/stretcher lift. The lifts are high-speed operating at 3.0 mps to 3.5 mps, which is roughly 1 floor per second. Waiting time is expected to be under 30 seconds, which is in line with most luxury residences. There will be two emergency staircases at each floor. Its mini air-wells alongside the corridor of apartment units will provide ventilation to kitchen and bathrooms with operable windows.

  • Availability of proper refuse area

The refuse room is built within its service area, which is enclosed away from the centre core lift lobby. The service/stretcher lift will have a double-sided opening, with one opening to the enclosed service area. This enables refuse cleaning to be carried out away from the centre core lift lobby.

  • Variety of facilities, green and open spaces
    – Example: For families, children-friendly facilities are to be considered

More than 30 facilities are offered to residents across a 3-acre recreational deck known as Lumi Park, the stunning curved-edge Lumi Pool and across each of the themed towers. Lumi Park spans across the rooftop of the residents’ carpark block and offers outdoor facilities such as a full-sized futsal court, a full-sized tennis court, rock climbing walls, putting green with sand bunkers, jogging track, cycling path, family BBQ area, children excitement playground and others.

Each tower will have its own set of indoor facilities catering to different age groups, individual personalities and lifestyle needs. The residents are allowed to use these facilities across towers by keycard access to the Sky Terrace floors. A resident may host birthday parties with family and friends at Sky Dining with a full glass view of the adjacent golf course and an evening chillout at Sky Bar. Another resident may enjoy a warm Spa after working out at the well-equipped Gymnasium.

At 190 metres in length from end-to-end, Lumi Pool will be the longest infinity swimming pool in Asia. It will face Tropicana Golf & Country Resort and beat the 150 metres swimming pool at Marina Bay Sands in Singapore. At Lumi Pool, there will be sheltered and non-sheltered areas for maximising pool fun at varying weather condition. There will also be sunken jacuzzi, sun deck, kids waterplay area and wading pool. 

  • Reasonability of maintenance fees based on offered facilities over density

The fixed total maintenance charge is RM0.33 psf, inclusive of sinking fund and a 12-hour concierge service at reception. This is reasonably on the low side. We felt that the charge is very reasonable after considering similar properties in surrounding areas, the current density, the enormous area of facilities and future upkeep costs. Any furtherance of maintenance charge will be decided upon delivery. However, we noted that certain facilities such as Conference/Meeting Room will be separately charged on pay-per-use. In the later years, residents could be reaping the benefits of a better energy and water efficiency as Lumi Tropicana is designed to meet GBI Gold compliances.

  • Impressive and modern façade

A major selling point of Lumi Tropicana is its awe-inspiring, eye-catching outlook and façade. Among the major highlights are a series of vertical architectural fins (for units with no balconies) and checkered arrays of balconies with a potential wrapped-over by creeper plants.

The building structure consists of two layers, whereby two smaller-sized units facing the inner-side flanked by four larger-sized units facing the outer-side. Both layers are adjoined within a centre core. The excess outlook will be glass windows and walls. The walls are treated in “honeycomb” style with a raw finish. Interestingly, each tower’s Sky Terrace levels will have a glass protrusion at the façade-edge of the tower block giving a “cool” effect at sky view.

  • Entrance statement, guardhouse, drop-off area and lift lobby

A majestic dual-carriageway entrance greets you alongside the development’s grand signage and water feature at the shoulder of Persiaran Tropicana. As you come to a roundabout, going rightwards will bring you to a sub-basement carpark meant for visitors and occupants of Lumi Marketplace or Lumi SOHO.

To enter the elevated carpark block, residents of tower blocks will drive leftwards towards Lumi Security’s entrance checkpoint and guardhouse. Upon arrival, residents have the option of drop-off at its signature “Vortex” shared among the pairs of blocks. Pebble stones inserted with spot-lightings illuminating upon tall trees will light up the “Vortex” during the evenings. Residents will instantly be reminded of the lobby themes present in each tower and a tap of your keycard opens up the lift lobby to your homecoming.

Cars are parked at designated parking bays at the designated floor. Residents will walk towards the closest lift lobby and take a ride up to the rooftop of the residents’ carpark block, which is the Lumi Park, for a short walk along sheltered walkways to enter tower block’s lift lobby. Walk-in-style over “mini-skybridges” connecting the tower block’s lift lobby and Lumi Park. The residents may also access the lift lobby from ground floor.

  • Security features and privacy design

Standard 3-tier security provided with keycard access system: (1) At ground level entrance checkpoint for vehicles; and (2) Keycard access to entrance of lift lobby; and (3) Lift requiring keycard access to resident’s unit floor. Security features include: (1) 24/7 guarding and patrol; (2) Keycard access system to lift lobby and to your unit floor and keyless home access enabled; (3) Intercom connectivity; and (4) CCTV and HD Digital Video remote surveillance.

  • Other unique features (if applicable)

Lumi Tropicana is a unique development in the vicinity of Tropicana comprising of Residences, SOHOs (Office) and Marketplace (Retail) integrated within a single development. It is the only transport/transit-oriented development (TOD) in this area.

  • Green rating or greening features (if applicable)

Roughly 32% of development land is reserved to plant greeneries. Lumi Tropicana aims to achieve GBI Gold rating, a key sustainable feature in future developments.

 

C. Strategic Investment Process

  • Equip with property market and personal finance knowledge.
  • Identify your niche by studying close-by competing, similar and future products.
  • Benchmark against competing product prices on PSF basis.
  • Study potential commercial viability and retail catchment (for mixed development).
  • Survey the level of occupancy in the neighbourhood.
  • Survey existing demographic and resident profile in the vicinity.
    Example: Close proximity to education hub may bring new demand year after year.
  • Survey the current rental and subsale price from nearest comparison today.
  • Forecasting by making estimated future rental assumption.

 

D. The Exit Strategy

  • Ensuring personal finance capability to maintain the property for minimum of 5 years.
  • Ensuring personal finance capability for renovation and value-added activities that will help to mitigate risk factors.
  • Perform calculation of estimated rental yield for first year of occupancy.
  • Forecasting by making estimated future subsale price.
  • Determine profit from investment after settling outstanding loan amount.

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Property market hit by surging costs; amid slow sales, rising supply and stiff competition Registration

According to the Real Estate and Housing Developers’ Association Malaysia (REHDA)’s Property Industry Survey for this year’s first half, 94 per cent said cost has gone up, with 45 out of 125 respondents saying cost rose by more than 5 per cent after its implementation.

Similarly, 71 per cent of those surveyed said GST has increased the price of property, with 22 of them saying price has increased by more than 5 per cent.

Despite that, two-thirds of respondents also said that they have absorbed the hike instead of passing it to house buyers, with 13 per cent saying they bore 100 per cent of the increase rising from GST.

“Everybody says that developers are more interested in making money, profit-oriented. First of all, yes we have to make some profit, but our profit has actually decreased,” said REHDA president Datuk Seri Fateh Iskandar Mohamed Mansor.

“It’s not that easy. People keep pushing the blame, we are seen as black sheep for everything that is happening in the country.”

The respondents said that cost has risen by up to 11 per cent from the previous half, while 81 per cent said the rise of business cost has severely affected their businesses.

Datuk Seri Fateh said the weakening of ringgit has especially increased price of imported material such as steel, and other essential components such as elevators, escalators and air-conditioning.

This comes sales performance dropped from the same period last year to just 40 per cent of units launched being sold.

For the period under review, 10,877 units were launched, of which 10,550 were residential units, and only 4,373 or 40%, were sold. The best-selling property type were the double and triple-storey units while sales of apartments and condominiums were dismal, with only 779 of the 4,259 units launched, sold.

“The take-up rate was not even 50% for the apartments and condominiums, while landed property were most popular with double and triple-storey units making up more than half of the total units sold.”

Almost all property developers in Peninsular Malaysia said the implementation of the Goods and Services Tax (GST) has caused their business cost to increase, according to the results of a recent survey released today.


According to the Real Estate and Housing Developers’ Association Malaysia (REHDA)’s Property Industry Survey for this year’s first half, 94 per cent said cost has gone up, with 45 out of 125 respondents saying cost rose by more than 5 per cent after its implementation.

Similarly, 71 per cent of those surveyed said GST has increased the price of property, with 22 of them saying price has increased by more than 5 per cent.

Despite that, two-thirds of respondents also said that they have absorbed the hike instead of passing it to house buyers, with 13 per cent saying they bore 100 per cent of the increase rising from GST.

“Everybody says that developers are more interested in making money, profit-oriented. First of all, yes we have to make some profit, but our profit has actually decreased,” said REHDA president Datuk Seri Fateh Iskandar Mohamed Mansor.

“It’s not that easy. People keep pushing the blame, we are seen as black sheep for everything that is happening in the country.”

The respondents said that cost has risen by up to 11 per cent from the previous half, while 81 per cent said the rise of business cost has severely affected their businesses.

Datuk Seri Fateh said the weakening of ringgit has especially increased price of imported material such as steel, and other essential components such as elevators, escalators and air-conditioning.

This comes sales performance dropped from the same period last year to just 40 per cent of units launched being sold.

For the period under review, 10,877 units were launched, of which 10,550 were residential units, and only 4,373 or 40%, were sold. The best-selling property type were the double and triple-storey units while sales of apartments and condominiums were dismal, with only 779 of the 4,259 units launched, sold.

“The take-up rate was not even 50% for the apartments and condominiums, while landed property were most popular with double and triple-storey units making up more than half of the total units sold.”

Despite that, more than 9,000 more units of houses are expected to be launched nationwide in the second half of this year.

Meanwhile, REHDA has found that only 31 per cent of developers responding to its survey expect more than 50 per cent sales within six months of new launches.

Presenting the property industry survey in the first half of 2015, Datuk Seri Fateh said 58 per cent of the respondents anticipated sales of between 26 and 50 per cent, while the remaining 11 per cent expected sales to be below 25 per cent.

“Sales performance have been on a subdued mode for the past one-and-a-half years,” he told a media briefing on the survey.

“The survey respondents were pessimistic on the outlook of the property market in the second half of the year, but the level of pessimism is expected to reduce in the following six months,” he added.

Datuk Seri Fateh said the survey showed that strata units dominated the launches as opposed to landed units, mostly in Penang, Selangor and Kuala Lumpur in the first half of this year.

He said half of the units launched were priced below RM500,000, while new launches of houses priced below RM200,000 were on the rise.

“Property priced below RM200,000 has actually gone up, from just 5 per cent of all new launches to 14 per cent,” he said. Contrastingly, property in the RM500,001 to RM1 million bracket also jumped from 34 per cent to 42 per cent.

In their response, the developers said that building affordable housing units was a daunting task as high cost of land acquisition made it economically unfeasible.

They also complained that unsold units increased to 78 per cent in the first half of 2015 from 64 per cent in the second half of 2014 and 57 per cent in the first half ended of 2014.

The number of unsold property units in Malaysia have increased due to unreleased Bumiputera lots and loan rejections, says REHDA. The unsold units were mostly in Kedah, Penang, Selangor and Johor, and mainly in the RM500,000 to RM1 million price range.

“Unreleased Bumiputera lots and loan rejections by banks are the top reasons for the unsold units,” said Datuk Seri Fateh.

More prospective buyers failed to secure end-financing, with the percentage increasing from an average 29 per cent in second half of 2014 to 35 per cent in the first half of 2015.

These were mostly due to ineligibility of income, lower margin of financing offered by banks and buyers’ credit history. Many banks, he added, were only offering between 75% to 80% loans, which made it difficult for buyers.

Most of the loans rejected, he said, were those involving residential property priced between RM250,001 and RM500,000 and between RM700,001 to RM1 million.

Interestingly in Kuala Lumpur and Selangor, most of the launches happening in the next half will be priced between RM1 million and RM2 million, up from between RM500,000 and RM1 million in the current half.

“Prices of new units in the Klang Valley have remained in the same range for the past five halfs, and has not been rising fast as perceived,” he said.

Another outlier is Kelantan, where more projects slated for the next half will be between RM200,000 and RM500,000, up from below RM200,000 previously, due to greater acceptance of condominium units in its capital Kota Bharu.

New projects in Johor and Penang jumped from being mostly between RM200,001 and RM500,000 to the RM500,001 to RM1 million range. In Selangor, Johor, Penang and Negri Sembilan, average units prices will remain between the RM500,001 and RM1 million, according to the survey. Prices in Pahang, Perak, Malacca and Kedah are expected to stay in the RM200,001 to RM500,000 range.

REHDA’s survey was conducted between January and June this year between 125 developers in Peninsular Malaysia, down from 132 previously.

Malaysia’s GST rate of 6 per cent was rolled out on April 1 this year. Residential properties are exempted from GST, which means property developers cannot impose GST on houses that they put up for sale.

Having said that, property developers still have to bear with GST on the inputs, such as bricks, rebar, cement, and etc – in building the houses. As houses are GST exempt, the developer cannot claim the input tax as tax credits.

Despite that, more than 9,000 more units of houses are expected to be launched nationwide in the second half of this year.

Meanwhile, REHDA has found that only 31 per cent of developers responding to its survey expect more than 50 per cent sales within six months of new launches.

Presenting the property industry survey in the first half of 2015, Datuk Seri Fateh said 58 per cent of the respondents anticipated sales of between 26 and 50 per cent, while the remaining 11 per cent expected sales to be below 25 per cent.

“Sales performance have been on a subdued mode for the past one-and-a-half years,” he told a media briefing on the survey.

“The survey respondents were pessimistic on the outlook of the property market in the second half of the year, but the level of pessimism is expected to reduce in the following six months,” he added.

Datuk Seri Fateh said the survey showed that strata units dominated the launches as opposed to landed units, mostly in Penang, Selangor and Kuala Lumpur in the first half of this year.

He said half of the units launched were priced below RM500,000, while new launches of houses priced below RM200,000 were on the rise.

“Property priced below RM200,000 has actually gone up, from just 5 per cent of all new launches to 14 per cent,” he said. Contrastingly, property in the RM500,001 to RM1 million bracket also jumped from 34 per cent to 42 per cent.

In their response, the developers said that building affordable housing units was a daunting task as high cost of land acquisition made it economically unfeasible.

They also complained that unsold units increased to 78 per cent in the first half of 2015 from 64 per cent in the second half of 2014 and 57 per cent in the first half ended of 2014.

The number of unsold property units in Malaysia have increased due to unreleased Bumiputera lots and loan rejections, says REHDA. The unsold units were mostly in Kedah, Penang, Selangor and Johor, and mainly in the RM500,000 to RM1 million price range.

“Unreleased Bumiputera lots and loan rejections by banks are the top reasons for the unsold units,” said Datuk Seri Fateh.

More prospective buyers failed to secure end-financing, with the percentage increasing from an average 29 per cent in second half of 2014 to 35 per cent in the first half of 2015.

These were mostly due to ineligibility of income, lower margin of financing offered by banks and buyers’ credit history. Many banks, he added, were only offering between 75% to 80% loans, which made it difficult for buyers.

Most of the loans rejected, he said, were those involving residential property priced between RM250,001 and RM500,000 and between RM700,001 to RM1 million.

Interestingly in Kuala Lumpur and Selangor, most of the launches happening in the next half will be priced between RM1 million and RM2 million, up from between RM500,000 and RM1 million in the current half.

“Prices of new units in the Klang Valley have remained in the same range for the past five halfs, and has not been rising fast as perceived,” he said.

Another outlier is Kelantan, where more projects slated for the next half will be between RM200,000 and RM500,000, up from below RM200,000 previously, due to greater acceptance of condominium units in its capital Kota Bharu.

New projects in Johor and Penang jumped from being mostly between RM200,001 and RM500,000 to the RM500,001 to RM1 million range. In Selangor, Johor, Penang and Negri Sembilan, average units prices will remain between the RM500,001 and RM1 million, according to the survey. Prices in Pahang, Perak, Malacca and Kedah are expected to stay in the RM200,001 to RM500,000 range.

REHDA’s survey was conducted between January and June this year between 125 developers in Peninsular Malaysia, down from 132 previously.

Malaysia’s GST rate of 6 per cent was rolled out on April 1 this year. Residential properties are exempted from GST, which means property developers cannot impose GST on houses that they put up for sale.

Having said that, property developers still have to bear with GST on the inputs, such as bricks, rebar, cement, and etc – in building the houses. As houses are GST exempt, the developer cannot claim the input tax as tax credits.

 

News sources: REHDA, The Star, The Malaysian Insider and The Malay Mail Online.

Movie Animation Park Studios to feature smartphone based queuing system Registration

The theme park will be implementing the patented smartphone-based queuing solution which allows users to queue without having to stand in line.

Instead, they reserve their place in a queue line electronically and are notified when it is their turn to ride.

What this means for for attraction operators is increased guest satisfaction and increased revenues by unlocking guests from queue lines, allowing them to enjoy the rest of the attraction instead and spend time in retail and food and beverage outlets.

“MAPS is one of the most unique and exciting projects underway in the leisure and tourism industry in Malaysia,” said Accesso chief executive officer Tom Burnet.

“We are thrilled with the role our technology will play in helping guests maximise their time in the park as well as drive incremental revenue for it.”

Slated to open in mid 2016, MAPS will feature more than 40 attractions, including 23 rides, live shows and attractions such as the world’s first DreamWorks-dedicated zone, Malaysia’s tallest drop tower, and a thrilling live-action car stunt show.

This will be the first animation theme park in Malaysia and Asia. It will feature various attractions including the Live Adventure Zone Casper the Friendly Ghost, Mr Peabody & Sherman, the Croods family, Megamind and local animation character BoBoiBoy, as well as live-thrills, a live car and bike stunt show to entertain a 2,000-seat arena.

The RM450 million project will feature six different zones of animation-based fantasy environment including square, forest, blast off, DreamWorks and lakeside.

Up to 21% of the theme park area is located near the Jelapang Toll Plaza, which is three minutes from the Ipoh Sentral terminal and a 20-minute drive from the airport and train station.

 

– The Rakyat Post, 5 September 2015

A house that runs itself? Samsung believes it’s about time Registration

Or an oven that turns itself on and starts warming up a lasagna when you’re 15 minutes away from home, just in time to be dished up as you walk through the door.

For years, technology firms have been touting the potential of a Smart Home, but in the past two years major players have begun investing heavily in its development.

South Korean giant Samsung now believes the day has come when a home is smart enough for household appliances to simply run themselves — all communicating with each other in the so-called Internet of Things (IoT).

At the IFA consumer electronics show in Berlin on Thursday, Samsung Electronics chief executive WP Hong said: “It is not a trend. It is at the heart of today’s industrial revolution.

“By 2020, all devices made by Samsung will be IoT enabled,” he pledged.

The electronics giant, which makes large appliances from washing machines to air conditioners to handheld electronics like smartphones, launched Thursday a line of new devices called Smart Things — including a small white box called a hub that coordinates the appliances.

It also showcased a smartphone app that acts as a mission control for the appliances, while motion sensors and sockets are complementary gadgets to add to the system.

Daily routines, like which appliances should do what in the morning or in the evening, can be programmed in the app, with the hub then acting as the coordinator in the home.

Alternatively, the home owner can control specific appliances through a tap on the app.

The Smart Things system is basically the fruition of an acquisition of an eponymous start-up that Samsung had in fact paid $200 million (RM847 million) for last year.

It will compete with Apple’s HomeKit, which was announced in June last year by the US giant and which controls appliances compatible with its products, while Google had paid $3.2 billion (RM13 billion) to buy Nest Labs, specialised in intelligent fire alarms and thermostats.

Samsung said its platform will be open and therefore compatible with other brands. It also took pains to cite several companies that it is partnering with, including speaker specialist Bose or light bulb manufacturer Osram, allowing these items to also work with its “hub”.

At the same time, it also launched other complementary gadgets includes a so-called smart home monitor, which ‘keeps an eye’ on the house, alerting the owners to any problems — from a leak in the bathroom to intruders in the garden.

And another device — the Sleepsense, a flat white disc that is placed under the mattress — monitors one’s breathing and heart rate at bedtime, and sets the temperature for the heater or the air-conditioner creating “the best environment for falling and staying asleep”.

Other appliance makers will also be touting their smart home concept at this year’s IFA show, which will be open to the public for six days from Friday.

German electronics and appliance giant Siemens for instance is showcasing what it describes as its “complete range of connected home appliances”, controlled through an app.

Among these appliances is a refrigerator that is able to take a ‘selfie’ of its contents, allowing the owner to see what needs replenishing.

MRCB-George Kent JV wins project delivery partner for LRT Line 3 Registration

The project is expected to cost up to RM9 billion.

“The Ministry of Finance has given approval for the appointment of the joint venture (JV) between MRCB and George Kent as the PDP for LRT3,” Prasarana chairman Tan Sri Ismail Adam told a news conference today.

“The appointment of the PDP was done through an open tender process. The companies went through the standard procurement stages and it was approved by the government,” he said after announcing the partnership at Prasarana head office in Bangsar.

It was reported that six JVs and individual companies were in the running for the urban rail project. Besides MRCB and George Kent, the companies that were shortlisted are:

  • Gamuda Bhd and MMC Corp Bhd,
  • UEM Group Bhd,
  • Sunway Bhd,
  • Naza Group and China-based partner CSR Zhuzhou Electric Locomotive Co Ltd, and
  • WCT Bhd and AlloyMTD Group.

Construction work on the 36km LRT3 or Bandar Utama-Klang Line will begin in the first quarter of 2016 and is expected to be completed by 31 August 2020.

Prasarana managing director Datuk Azmi Abdul Aziz said Prasarana will finance the project via the issuance of sukuk, of which the coupon rate would be decided later. Local institutions have shown interest on the financing for the project through its sukuk issuance.

The RM9 billion estimate does not include the cost of land acquisition, which will only be revealed only after Prasarana had confirmed the number of packages of land they will acquire for the LRT3 construction.

“There will be additional cost for the land acquisitions. We are still listening to grouses on the ground to minimise the social impact,” he said.

“The appointment of MRCB as PDP is to start the design work immediately, in order to establish and confirm for our approval of the technical design characteristics and to be able to work towards the pre-qualifications of the contractors to be invited to participate.”

Normally a PDP represents an entity that possesses significant amount of project and construction expertise that will assume the project delivery risk from the project owner after the project has been competitively tendered.

With the PDP strategy, the project owner enjoys the best of both worlds where the mega project is divided into multiple packages for competitive bidding to ensure maximum spread, while reducing risk of cost overrun and late completion – borne by the PDP.

The main concept of PDP is that the PDP assumes complete risk ownership and accountability for project deliver, from conceptualisation untill the date of completion, including specifications to cost, time and quality by integrating all contractors (civil, infrastructure and systems) involved.

Prasarana had earlier organised public inspection on the LRT3 alignment for a period of 3 months from May 15.

Azmi said that 90% of the stakeholders support the LRT3 project based on the public hearing exercise which was carried out over a period of three months and ended on August 14.

“Only 10% are not keen on the project and we are constantly engaging with them. We will look into their proposals and expect to finalise the alignment by year end,” he said, adding that the final alignment would be approved by the Land Public Transport Commission (SPAD).

Currently, the proposed alignment of LRT3 begins from Bandar Utama to Johan Setia in Klang and the approval-in-principle was announced during Budget 2015. The acquisition of land will begin concurrently.

According to CIMB Research, the award would translate into RM19 million to RM25 million net profit for MRCB in financial year 2016 and 2017 respectively, and this will progressively grow higher towards the project’s completion in 2020.

However, the downside risks to the 6% PDP fees are cost overruns, variation orders and delays. Hence, the next tender phase for the seven civil work packages are most crucial.

The new line would begin from the Bandar Utama MRT Station and head towards Merchant Square in Tropicana before cutting across the NKVE to interchange at Glenmarie LRT Station.

The line continues to Hicom-Glenmarie Industrial Park, heading for Shah Alam via Section 13 near the Shah Alam Stadium, then towards Universiti Teknologi Mara (UITM) in Section 2 and i-City in Section 7.

The train will then travel down Bukit Raja to the Klang KTM Komuter station via Jalan Meru before heading further south for Bandar Bukit Tinggi and finally ending in Johan Setia.

Based on studies done by Prasarana, it is estimated that 450,000 workers and 50,000 tertiary students live along the LRT3 corridor. The population catchment of the alignment corridor is expected to be in excess of 2 million people.

The expected ridership will be 70,000 per day when completed. The travel time between end-to-end stations will be 51 minutes. LRT3 will be the first urban rail project in Malaysia that use green technology applications.

There will be 10 park-and-ride stations offering 5,000 parking bays and a total of five (5) integrated stations, which would connect the following services:

  • MRT SBK Line/MRT Line 1,
  • LRT Kelana Jaya Line,
  • Bus Rapid Transit (BRT) Kuala Lumpur-Klang, and
  • KTM Komuter.

The LRT3 will be fully elevated except for a 2km underground section including an underground station on Persiaran Hishamuddin in Shah Alam. The LRT train depot will be built at Johan Setia. 

The rolling stock, similar to those used in the LRT Kelana Jaya Line, will be used. The train can be configured to a 2, 4 or 6 car-vehicle train. In total, there will be 25 stations along the 36km route. The following is a list of the planned stations: 

1. Bandar Utama (Interchange with MRT SBK Line/MRT Line 1)

2. Damansara Utama

3. Tropicana

4. Lien Hoe

5. Dataran Prima

6. Persada PLUS

7. Station 3/Glenmarie (Interchange with LRT Kelana Jaya Line Extension)

8. Temasya

9. Hicom-Glenmarie

10. Stadium (Interchange with the proposed BRT Kuala Lumpur-Klang)

11. Persiaran Hishamuddin (Underground Station)

12. Section 14

13. SIRIM (Interchange with the proposed BRT Kuala Lumpur-Klang)

14. UITM

15. i-City

16. Bukit Raja

17. Kawasan 17

18. Jalan Meru

19. Klang (Interchange with KTM Komuter Batu Caves-Pelabuhan Klang)

20. Taman Selatan

21. Sri Andalas

22. Tesco Bukit Tinggi

23. AEON Bukit Tinggi

24. Bandar Botanik 

25. Johan Setia (Depot)

 

China developer Agile Property ventures into Malaysia with first Kuala Lumpur project Registration

Through its subsidiary Agile Real Estate Development (M) Sdn Bhd, the Chinese developer bought the 10-acre land from PJ Development Holdings Bhd (PJD) early last year for about RM200 million and is jointly developing the project.

Agile Mont Kiara, which will have a residential title and a gross development value (GDV) of RM1.2 billion, will feature 11 residential towers with units ranging from 1,162 sq ft to 5,037 sq ft.

There will be four 44-storey blocks, two 18-storey blocks and five 8-storey blocks with an average price of RM950 per square foot.

The development was considered the lowest density in the vicinity, Agile Real Estate Development (M) Sdn Bhd chief executive officer Wilson Ren told StarBiz.

“We want to build a community, a private environment where people can walk around and get to know their neighbours,” Ren said.

Facilities include a six-acre environmental deck, which is a large recreational space in the centre of the development with the residential towers surrounding it, a sky deck as well as five units of retail spaces to be managed by Agile.

Construction had just begun and is slated for completion in about two years.

Agile Mont Kiara will be officially launched in mid-October.

So far, there have been about 400 registrations, most of which were interests expressed by neighbouring residents.

“I don’t think there is an oversupply situation in Mont Kiara. Perhaps affordability is an issue in the neighbourhood with the bigger units but since the location is good, there will be continued demand to live in this area,” Ren said.

Ren said he expected a good take up when Agile Mont Kiara was launched in spite of Malaysians being very careful and pensive about their purchases now.

“The property market here appears to be soft in terms of transactions. But the fact that the economy is down makes it a good time to invest in property, as you can then reap the appreciation in value later,” he said.

Agile’s venture into Malaysia is its first international foray.

With the China property market slowing down, the move had made good sense for the company, given its skills in property development and other accomplishments in railway technology as well as its friendship with Malaysian companies such as Tropicana Corporation Bhd and PJD, with whom Agile had partnerships, Ren said.

Apart from Agile’s joint venture with PJD, the Chinese developer is co-developing a 3.14-acre land in Bukit Bintang with Tropicana Corp Bhd, from whom it bought the land.

The three-tower high-end serviced residences will have a GDV of RM2.5 billion and will be launched in the first half of 2016.

“We want to design properties with lasting value, hence we pay special attention to design and quality. Malaysia has a similar culture to ours in China and it is very close to our headquarters in Guangzhou.

“This is our first time overseas, so we need the stability of a familiar place. We want to understand this place first and it helps that we have strong friendships with a few local developers,” Ren said.

Agile is on the lookout for big parcels of land in the Klang Valley to develop townships.

“We will focus on low-density living,” Ren said, adding that Agile was not planning to go into Iskandar Malaysia as the southern region was quite saturated.

“It is better to remain in Kuala Lumpur now for the population and economy,” he added.

Agile is also looking for land in Sydney and Melbourne, both in Australia. However, nothing specific has been outlined so far.

“Our Chinese competitors Country Garden, Green Land and many others have launched projects in Australia. They have come away with good sales,” Ren said.

“We will do it a step at a time. For now, we have enough land to develop over the next 10 years.”

The award-winning Agile, formerly a furniture manufacturer, has completed about 90 projects in China and Hong Kong such as the Agile Mountain of Guangzhou, Hainan Clearwater Bay, Agile Garden Chengdu, The Luxury House Nanjing and Agile Garden Shenyang.

 

– The Star Biz, 3 September 2015