SUMMARY OF PROPERTY NEWS (16th - 31st May 2009)

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(16th – 31st May 2009)

(formerly known as Param & Associates
(KL) Sdn Bhd)

29A & 31A
Jalan 52/1

Petaling Jaya New Town
 Only for internal distribution to staff, clients and stakeholders
46200 Petaling Jaya
of PA International Property Consultants
Selangor, MALAYSIA
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1. Malaysia’s Green Building Index (GBI)

 Malaysia’s green building rating system was launched on May 21 at KLCC
 The GBI is the brainchild of the Pertubuhan Arkitek Malaysia and the Association of Consulting
Engineers Malaysia and acts as the main green rating tool for both residential and non
residential buildings
 Its main role is to assist architects, designers, builders, government bodies and end users to
understand the impact of each design choice and solution
 Buildings will be awarded the GBI Malaysia rating based on 6 key criteria:
o Energy efficiency
o Indoor environment quality
o Sustainable site planning management
o Materials and resources
o Water efficiency
o Innovation
 All future government buildings will aspire to be “green buildings”
 The first listing of the GBI would be out in 3 months, with a pilot project already conducted on
11 buildings, according to Malaysian Institute of Architects past president Dr Tan Loke Mun
(The Edge, 15&22-May-09 & The Star, 28-May-09)

2. Malaysian economic update
 Malaysia’s inflation rate in April rose 3% year-on-year due to higher prices of food and non
alcoholic beverages, according to the Statistics Department
 The CPI marked the lowest in a year with food prices showing a 7.5% growth year on year,
according to HSBC Bank economist Prakriti Sofat
 MIDF Research expects the country to register a GDP contraction of 2.5% in line with market
(The Edge & The Star, 20-May-09 & New Straits Times, 21-May-09)

Summary of property news (16-31 May 2009)
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3. LCCT expansion work completed

More parking bays are available
at the expanded LCCT

 Malaysia Airports Holdings Berhad has completed the expansion work on the LCCT at the KL
International Airport in Sepang
 By 2011 the current LCCT will be converted into a cargo-handling terminal once the new
terminal is completed
(The Star, 20-May-09)

4. Pavilion KL and Setia Eco Gardens receive international acclaim
 Pavilion Kuala Lumpur and Setia Eco Gardens Johor are now regarded as the World’s Best
Retail Centre and Best Master Plan Development in the Fiabci Prix d’Excellence Awards 2009
International Property Awards
 The 384ha freehold Setia Eco Gardens is being developed as an environmentally-friendly
Pavilion KL
Setia Eco Garden

(The Edge, 21-May-09 & New Straits Times, 22&29-May-09)

Summary of property news (16-31 May 2009)
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5. No slowdown on investment flow to Iskandar

UEM Land Bhd’s Wan Abdullah Wan Ibrahim briefing Najib on the projects within the

Nusajaya areas
 To date, Iskandar has attracted RM42.6 billion in committed investment, of which RM12.9
billion investment or 30% were already on the ground or being implemented
(The Star, 22-May-09)

6. Malaysia My Second Home update
 Several amendments to the MM2H criteria were made by the authorities, including the
lowering of entry age (below 50) as well as employment opportunities for foreigners in
selective industries
 Currently, there are about 12,000 MM2H participants from many countries such as China,
Britain, Iran and Japan
 The actual sales of properties to MM2H participants amounted to RM407 million as only 510 of
them bought houses between 2002 and 2008
 Purchases comprised only 0.62% of the 756,000 housing units sold between 2003 and 2008
 The most sought after properties by foreigners are those priced between RM250,000 and
(The Star, 26 & 27-May-09)

7. Proposed 3rd link between Singapore and Johor
 The announcement for the proposed link from Changi to the eastern part of Johor was made
during Prime Minister Datuk Seri Najib Razak’s maiden visit to Singapore on May 22, 2009
 The new bridge will be constructed in the Pasir Gudang area, of which major townships that
will be immediately affected include Sierra Perdana (Mah Sing Group Bhd) and Bandar Seri
Alam (United Malayan Land Bhd)
 Outside Pasir Gudang, the Tebrau Corridor which comprises townships such as Setia Indah (SP
Setia Bhd), Desa Tebrau and Tebrau City (Plenitude Bhd), Seri Austin (United Malayan Land),
Austin Perdana (Mah Sing) and Bandar Dato’ Onn (Johor Land Bhd), were likely to get spill-over
(The Edge, 26-May-09)

Summary of property news (16-31 May 2009)
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8. 3rd stimulus package
 There is a possibility the Government will implement a 3rd stimulus package if there is no
turnaround by year end

 The Government’s revision of its forecast of GDP growth to -4% or -5% for the full year of 2009
from +1% to -1% previously also added to the possibility of pressure for further stimulus
 Currently, OCBC forecasts -4% GDP growth for the 2Q, with improvement to -2.5% growth in
the 3Q but did not give a figure for 4Q 2009
(The Star, 30-May-09)

9. Height ruling for Penang
 From now on, buildings in Penang’s heritage enclave cannot be taller than 18 metres
 This followed a decision by the Penang Municipal Council to limit the maximum height of these
premises, reverting to a 1996 policy

An artist’s impression of the 12-storey Royale Bintang Hotel to be built in Weld Quay.

This is one of four projects put on hold pending word from the Unesco World Heritage
Committee after its three-day inspection visit recently

(The Star, 30-May-09)

Summary of property news (16-31 May 2009)
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10. Malaysia’s lending rate
 Bank Negara’s monetary policy committee decided to keep the OPR, the benchmark interest
rate which determines lending rates by banks, unchanged at 2%
 Bank Negara first announced a cut of 25 basis points in November 2008, followed by another
75 basis points cut to 2.5% in January and a 25 basis points reduction to 2.0 in February 2009
(The Star & New Straits Times, 27-May-09)

11. Upgrading of the LDP highway
 Out of the average 1.8 million users daily in Jan 2009, only 400,000 were paying toll while the
rest were just passing through
 66 mixed development projects have taken off along the 40km highway since 1999
 Estimated new users of LDP:
o Setia Walk, Puchong : 2,544 vehicles during the morning peak hours and 3,017 in the
o The traffic near the Sunway toll (when the new Taylor’s College at PJS 7 is up) : 1,323
in the morning and 1,846 in the evening
o The Lagoon Perdana and Sunway South Quay development : over 6,000 vehicles
during peak hours in the morning and evening
o Tropicana City Mall, Petaling Jaya : 534 vehicles in the morning and 4,060 in the
evening onto the LDP
o The Paradigm mixed development, Kelana Jaya : between 3,000 and 4,500 vehicles
 The 1st project completed in 2005 involved 6 interchanges, highway expansion, toll plaza
expansion and system improvement. It cost about RM400 million
 The 2nd project at RM200 million is upgrading of TTDI interchange and the widening of
Motorola interchange, which is now ongoing
 The 3rd project that costs RM300 million will begin in 3Q 2009 and is expected to be completed
in 3 years
o The work will be conducted at 6 critical congestion hotspots namely Persiaran Surian
onto LDP, Damansara Utama interchange, Puchong Jaya interchange, Puchong Intan
interchange, Puchong Perdana interchange and Puchong Perdana to Kampung Bharu
Puchong interchange
o There will also be an expansion for 3 toll plazas – Penchala, Puchong Barat and
Puchong Selatan
(The Star, 27-May-09)

Summary of property news (16-31 May 2009)
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12. MCT Consortium Bhd’s development
Project name
USJ 1 Avenue
Phase 1
Phase 2
No of units
296 units
146 units
No of blocks/storeys
2 blocks of 19 storeys each
A block of 19 storeys
Built up
1,346 – 1,802 sq ft
RM180 – RM190 per sq ft
RM230 per sq ft
(developer’s price)
RM230 per sq ft (secondary price)
Launching date
Dance studio
Sky garden
Swimming pool and sauna
Private 35 seater theatre room as well as tuition and meeting rooms
(The Edge, 18-May-09)

13. Sentral City (M) Sdn Bhd’s development
Project name
Zen Residence @ Asplenium
Bt. 14, Puchong
Official launch
Feb 2009
Completion date
Land area
4.08 acres (leasehold)
No of storey
21 storey (2 blocks)
Built up range
1,178 – 1,493 sq ft
2,550 sq ft (biggest duplex units)
RM272,900 – RM750,000
Special offer
Built in kitchen cabinet
Glass shower screens
Centralized water heater for all bathrooms
Air conditioners for the living rooms and bedrooms
Alarm system
Tower A
Tower B
No of units
143 units
143 units
Launching date
Nov 2008
Take up rate
(The Edge, 18-May-09)

Summary of property news (16-31 May 2009)
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14. Sale of development land in Bandar Sri Damansara
Bandar Sri Damansara
Greater Heights Development Sdn Bhd (subsidiary of Bina Goodyear Sdn Bhd)
Green Heights Development Sdn Bhd (formerly known as Sepakat Sempurna Sdn
Bhd (subsidiary of Loh & Loh Development Sdn Bhd)
Title details
GRN 89403 Lot 62523
Mukim/ District
Mukim Damansara, District of Petaling
Category of land use
Land tenure
Development order
The land has been approved by Majlis Bandaraya Petaling Jaya via their letter dated
28 Sept 2007 for the development of 3 units of bungalows ad 46 units of semi
detached bungalows with a total area of approximately 21,923 sq metres
Land area
8.655 acres
RM27 million @ RM72 per sq ft
Date of SPA
(Bursa Malaysia, 18-May-09 & New Straits Times, 19-May-09)

15. SP Setia Bhd’s developments
 SP Setia Bhd targets to sell RM300 million worth of properties during the 3 month extension of
the 5/95 home loan package promotion from April 19 to July 19, 2009
 They plan to launch one block of Setia Sky Residences. It comprises four 39-storey tower
blocks, with each block containing 211 condos
Setia Alam
Setia Sky Residences
Low cost homes (built in phases)
No of blocks
4 blocks
No of units
Phase 1 = 449 units (total units = 7,212)
844 units
No of storey
5 and 6 storey walkup
39 storeys
Built up
682 sq ft
Land area
120 acres out of 2,525 acres
Low cost home = RM42,000
Low medium cost home = RM72,000
Launching date
May-09 (only for first block)
(New Straits Times & The Star, 19-May-09)

16. Paramount Corp Bhd’s development
Project name
Banyan Hills
Sungai Petani
No of units
5,000 residential units
96% residential & 4% commercial
Bungalows, semi detached, link houses and commercial centre
Land area
RM1 billion
Launching date
End 2010
Completion date
Over 10 years
(Bernama, 20-May-09, New Straits Times, 21-May-09 & The Star, 30-May-09)

Summary of property news (16-31 May 2009)
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17. Faber Group’s development
 The 2 ongoing developments are Phase 3 Matahari 3 storey terrace homes in Laman
Rimbunan, Kepong and semi detached and bungalows at Taman Hilltop Perdana, Kota Kinabalu
 It plans to launch 3 projects in Klang Valley with estimated GDV totaling RM230 million in 2009
or early 2010
 2 of the proposed launches are in Taman Desa and one in Laman Rimbunan
(The Edge, 21-May-09)

18. Clearwater Group’s development
Project name
The Heritage, Seri Kembangan
600 of the 800 units are tenanted
Rental fees
RM1,400 – RM1,500 : Studio
RM2,300 : 2 bedrooms
RM2,500 : 3 bedrooms
1 of the blocks, comprising 200 units, will be sold en bloc
(The Star, 23-May-09)

19. MK Land’s developments
Project name
Armanee Terrace
Semi detached modern homes
Block 1 : handed over to buyers in 2007
Block 2 : under construction
No of units
Block 2 : 518 units
460 units in total
RM1.4 million (launched in 2007 – 56 units)
RM1.8 million (will launch in July 2009 – 60 units)
(New Straits Times, 25-May-09)

20. Midfields, Sungei Besi
Project name
Sungei Besi, Kuala Lumpur
Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd
Condominium, retail lots, offices
Land area
9.315 ha
No of units
300 units - Phase 1 (condominium)
Launching date
2008 - Phase 1 (condominium)
Take up rate
100% - Phase 1 (condominium)
(New Straits Times, 26-May-09)

21. IGB Corp Bhd’s development
 Unfavourable market conditions have caused IGB Corp Bhd to delay 2 major projects with an
estimated combined value of RM1.5 billion to RM2 billion
 The 2 projects on hold are the final 3rd phase of the Mid Valley City and the high end Stonor
condominium in KL. They could take off from 2010
 The recent completion of its North Tower Offices and The Garden Residences are expected to
make up for any shortfall in that division
(New Straits Times, 28-May-09)
Summary of property news (16-31 May 2009)
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22. Bertam Alliance Bhd’s development
Project name
Grand View
USJ1, Subang Jaya
Kota Damansara
RM1.8 million – RM3 million each
RM1.8 million – RM2.2 million
No of units
66 units
72 units
Launching date
(New Straits Times, 28-May-09)


23. Mah Sing’s developments
 Plans to launch 2 developments in June 2009 :
o Starparc Point in Setapak, KL (a 5 acre commercial development with a GDV of RM125
o Southbay, Penang (a 54 acre residential precinct with a GDV of RM518 million)
Project name
Southbay, Penang
Superlink homes and bungalow
No of units
Superlink : 284 units
Bungalow : 76 units
RM518 million
Superlink : From RM795,000
Bungalow : From RM2.2 billion
Southbay Penang is an integrated commercial hub
comprising fine-dining restaurants, retail outlets,
service apartments and hotel suites
The project will be open for private preview around
end 2009 or 1Q 2010
Launching date
(The Star, 18&30-May-09)

24. Bigger-sized condominiums preferred by Penangites
 Developers now prefer to launch apartments with bigger built up area in Penang island as they
can fetch a better selling price
 New apartments being developed on the island now range between 1,400 sq ft and 2,500 sq ft
according to Reapfield Properties (Penang) Sdn Bhd’s development manager Florence Lim
 Apartment size with built up areas of 900 sq ft to 1,000 sq ft on the island has risen by 15% to
20% since 2008 because are no new supply of apartments of these sizes
(The Star, 30-May-09)

Summary of property news (16-31 May 2009)
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