Penang Properties Below RM500K Wanted Urgently For Our Ready Buyers

Urgent notice to Owners of Penang Propreties! Contact us now to get your condo SOLD! Ready buyers awaiting you. 

We are delighted to announce that we have ready buyers looking for Penang Properties Below RM500K, therefore if you are contemplating a move or know of someone who is, please contact us by clicking here.

For your kind information, the potential buyers are serious buyer and willing to consider your condo or apartment subject to the right unit, condition and price. Motivated & qualified to get loan approved too if found what they are looking for. So don't miss this opportunity to get your Penang Properties SOLD now.

We welcome all keen sellers to contact us to further discussion on the sale of Penang Properties. We have ready and motivated buyers waiting to buy at the right unit, condition and price. Act now! Opportunity to get your Penang Properties SOLD now.

Behind every successful sale is a Professional Realtor!

We are pleasure to be of service!

Don't wait, contact us immediately if you would ever like your Penang Properties Penang SOLD instead of JUST LISTED. We have a proven marketing programs for getting your Penang Properties SOLD.

For the list of Property Wanted, please click here.

For the list of Land Wanted, please click here.

If you would like a FREE *Market Analysis on the property, please contact us by clicking here. 
There is no obligation.

We make it our business to know you better to serve you to your full satisfaction. Welcome abroad.

Alphine Return bullish about project

(From left) UMLand director Dennis Ng, Symphony Life chairman Tan Sri Azman Yahya, Tourism and Culture Ministry secretary-general Datuk Dr Ong Hong Peng, Samsung C&T president & CEO Chi Hun Choi and Samsung C&T Malaysia MD Thomas Chung at the recent signing ceremony & exchange of documents between Alpine Return and Samsung C&T on the construction of Star Development.

ALPINE Return Sdn Bhd is unfazed by the rising competition in property development taking place in the vicinity of Kuala Lumpur City Centre (KLCC). 

Judging by the response to its Star Development project, one can assess its strong showing for the project which is scheduled for completion in 2019. 

Chief operating officer Alan Koh says that to date about 80% of phase one of Star Residences Tower One has been taken up and he is confident the balance will be taken by the first quarter of next year in view of the upcoming campaigns for the project. Phase two of the mixed development will be launched by June next year, he tells StarBizWeek.

On the breakdown of its phase one purchasers, he says 75% are locals and the remainder 25% are foreigners mainly from Singapore, the Middle East, Taiwan and China. 

Due to the good demand, prices have gone up by a further 5% since launching phase one, he says, noting that for phase two, Alpine Return is looking at an additional 15%-20% jump in prices (from that of phase one). The prices for phase one are between RM1mil and RM1.3mil.

Koh is confident the project will be well received due to its unique architecture and fine amenities. The tower is three-quarters the height of the Petronas Twin Towers which measures 450m. 

The partnership with Samsung C&T as the main builder with strong emphasis on quality and safety is a feather in the cap for the company in terms of strengthening its position as one of the leading developers in the Klang Valley, he says.

Alpine Return recently announced the appointment of Samsung C&T during its award signing and ground-breaking ceremony held at its site on Nov 18.

The South Korean construction giant is well-known worldwide to have successfully delivered landmark projects with great emphasis on quality, on-time delivery, safety and compliance. 

Samsung C&T is best known for the construction of the Burj Khalifa in Dubai, which is currently the world’s tallest building, and the Petronas Twin Towers.

Star Development is also backed by two reputable property developers in Malaysia – Symphony Life Bhd and United Malayan Land Bhd (UMLand Bhd). In terms of structure, the use of contemporary wood, metal, natural stones and coloured texture/patterned finishing is designed to reflect and replicate the Petronas Twin Towers architecture, he explains.

Apart from this, Koh says the company is “incorporating” a hotel-like ambience for the residents coupled with painting and artwork which will distinguish it from other residential developments. 

The mixed development project which is situated on 4 acres comprise two key components – Star Residences and Star Boulevard, and is set to be the tallest developments in KLCC with a total gross development value of RM3bil.

Star Residences comprise three residential towers – a 57-storey tower and two 58-storey towers. Star Boulevard includes five blocks of six-storey Signature Retail food & beverage and entertainment hub with a total net lettable area of 12,077sq m. It boasts of lifestyle amenities catering to Star residents, offices, visitors as well as professionals within the surrounding areas.

Another plus point, Koh opines, which will give the development a boost compared with other property developments around the vicinity of KLCC is the Star Walk of Fame. 

The Walk of Fame, which is designated to be a tourist attraction and the first of its kind in Malaysia, is a 200m stretch featuring both local and international celebrities, similar to Hollywood’s Walk of Fame and Hong Kong’s Avenue of Stars.

Celebrities

According to Koh, there are 36 international celebrities who are expected to hand print on it. The first was inaugerated by the project’s ambassador Datuk Jimmy Choo. 

He is upbeat that Star development will be a new tourists attraction and plans are under way to invite international personalities such as Will Smith, Madonna, Beyonce, Elton John, David Beckham, Jacky Chan, Chow Yuen Fatt to endorse their hand print on the Walk of Fame.

On the property market outlook, Koh feels that although the market may slow down in the short term, but over a period of three to four years it could pick up, underpinned by various infrastructure projects like the mass rapid transit (MRT) system.

“Location-wise, places like Mid Valley, KL Sentral and KLCC could see their property prices going up due to scarcity of land and MRT linkages. 

Global research has shown that property prices have gone up by at least 30% where there are MRT stations within a radius of 500m from the property development projects,” he says. - The Star

No fear of office space glut at the moment

Boyd: ‘The supply coming in is not unusual’.

DESPITE a huge supply of office space coming into the Klang Valley over the next three years, the situation is controllable and not expected to result in a glut.

According to CB Richard Ellis executive chairman Chris Boyd, some 25 million sq ft of office space is due for completion by 2017.

“Some of this supply might be delayed or postponed. Yes, there’s a lot of supply coming in but it hasn’t reached alarming proportions,” he tells StarBizWeek.

Boyd says there was currently around 96 million sq ft of office space within the Klang Valley.

“On the positive side, there’s still healthy demand for office space, especially within the oil & gas sector and companies wanting to upgrade from old to new buildings.

“The supply coming in is not unusual,” he says.

According to Boyd, occupancy rates of office buildings within the Klang Valley usually hovers at around 80%.

“This inches up a little when a new generation of employees join the workforce – and then it falls down to 80% again (when there’s new supply).

“So, despite the 25 million sq ft of supply coming in, we don’t hear alarm bells.”

Boyd adds that rates are expected to remain stable.

“It’s a wonderful opportunity for tenants to move to modern buildings without paying too much extra in terms of rent.”

Malaysian Institute of Estate Agents (MIEA) president Siva Shanker says 25 million sq ft of office space “is a lot.”

“But do I think it will result in a glut? No I don’t think so,” he says, adding that the situation could lead to a potential overhang.

Siva: ‘More supply is coming in but it will be taken up eventually’.

“This means that some buildings might not be fully taken up, as supply may be a little higher than demand. This is unlike the situation of a glut, where there would be scores of buildings having problems getting tenants.”

Siva also says the level of supply coming in was “normal”.

“There’s more supply coming in but it will be taken up eventually.”

He adds that in the past, the trend was to set up office within the city or as close to it as possible.

“Today this is no longer the trend. Many are moving to suburban locations. A lot of blue-chip companies have accepted that it’s actually alright to work far away from the city and still have a good feel and address.”

Siva cites Bangsar South and Mid Valley as preferred locations that many companies are moving to.

According to property consultant CH Williams Talhar & Wong Sdn Bhd (WTW) in its snapshot on the Klang Valley office sector, a total of about 2.89 million sq ft of office space was completed by the second quarter of 2014.

The incoming supply include Menara Hap Seng, Menara TH @ Platinum Park, Menara Bank Rakyat, The Cascades @ Kota Damansara, Centrus @ CBD Perdana and Menara Pinnacle @ Sunway City.

This, it says, will exert pressure on the current market in terms of performance while rentals are expected to remain generally stable especially in the central Kuala Lumpur area.

In the first quarter of the year, WTW says a drop of about 0.8% in vacancy rate was observed within the Klang Valley, registering at 13.7%.

“Similarly with Kuala Lumpur office buildings, improvement was noted with vacancy rate improved by 0.9% registering at 12.5%.

“In terms of space taken up, Kuala Lumpur registered about 605,300 sq ft with the Klang Valley overall registering about 916,700 sq. ft during the review period.”

It says average prime rentals in Kuala Lumpur remained stable at RM6.80 per sq ft in the first quarter of 2014. 

“Prime average capital value and yield remained at RM1,000 to RM1,100 per sq ft and 6% to 6.5% respectively.” - The Star

E&O Q2 earnings up 29% to RM21m

KUALA LUMPUR: Property developer Eastern & Oriental Bhd saw its net profit climb 29% to RM21.24mil on higher revenue of RM77.29mil for the second quarter ended Sept 30, 2014.

For the first half period, E&O posted a 22% increase in revenue to RM207.04mil against RM169.67mil in the last year. However, net profit fell 7.9% to RM40.2mil compared with RM43.68mil in the same period a year ago.

The company said on Friday its stronger financial performance was due to the steady progress of the Andaman development in Penang, and the successful launch of the first phase of Avira Garden Terraces in Iskandar Malaysia.

E&O remains focused on its mid-term plan over the next three-year period to attain a cumulative net profit of RM450mil by the financial year ending March 31, 2016.

“At E&O, we look beyond short-term assessments that can be restrictive in accurately reflecting the property development industry, choosing to adopt a longer term strategy to achieve sustained growth and create sustainable value for all our stakeholders,” said deputy managing director Eric Chan Kok Leong.

At the company’s EGM earlier on Friday, E&O obtained shareholders’ approval for a five-year redeemable convertible medium term notes of up to RM350mil in nominal value, which is the first issuance under the medium term notes (MTN) programme.

The MTN programme is part of E&O’s proposed fund raising exercise, which comprises an issuance of up to RM500mil in nominal value of private debt securities (PDS), which had obtained approval earlier this month from the Securities Commission.

“The private debt securities will further mitigate interest rate risks, providing working capital to ensure an efficient cash flow management and stronger balance sheet whilst the group embarks on upcoming property development activities,” added Chan.

E&O will launch 18 East, the residential block within the master development at Seri Tanjung Pinang. 

In Iskandar Malaysia, E&O will unveil subsequent launches of its landed homes at Avira following its successful maiden launch of its first phase of Avira Garden Terraces.

It is also finalising details of the 12.5 acre wellness sanctuary that anchors the overall 207 acre development. 

ESCA House, E&O’s second project in the UK after Princes House, will be redeveloped into a six-level residential development comprising 28 private residential units in London’s Zone One area of Bayswater, neighbouring Notting Hill and within walking distance to Hyde Park. - The Star

Condo in Gurney Drive, Penang Wanted

Urgent notice to Owners of Condo in Gurney Drive, Penang! Contact us now to get your condo SOLD! Ready buyers awaiting you. 

We are delighted to announce that we have ready buyers looking to own a unit of condo in Gurney Drive, Penang, therefore if you are contemplating a move or know of someone who is, please contact us by clicking here.

For your kind information, the potential buyer is a serious buyer and willing to consider your condominium subject to the right unit, condition and price. 

We welcome all keen sellers to contact us to further discussion on the sale of your condo in Gurney Drive, Penang. We have ready and motivated buyers waiting to buy at the right unit, condition and price. Act now! Opportunity to get your condo in Gurney Drive, Penang SOLD now.

Behind every successful sale is a Professional Realtor!

We are pleasure to be of service!

Don't wait, contact us immediately if you would ever like your condo in Gurney Drive, Penang SOLD instead of JUST LISTED. We have a proven marketing programs for getting your condo in Gurney Drive, Penang sold.

For the list of Property Wanted, please click here.

For the list of Land Wanted, please click here.

If you would like a FREE *Market Analysis on the property, please contact us by clicking here. 
There is no obligation.

We make it our business to know you better to serve you to your full satisfaction. Welcome abroad.

Gurney Park Wanted

Urgent notice to Owners of Gurney Park Condo! Contact us now to get your condo SOLD! Ready buyers awaiting you. 

We are delighted to announce that we have ready buyers looking to own a unit of condo in Gurney Park, Gurney Drive, Penang, therefore if you are contemplating a move or know of someone who is, please contact us by clicking here.

For your kind information, the potential buyer is a serious buyer and willing to consider your condo subject to the right unit, condition and price. 

We welcome all keen sellers to contact us to further discussion on the sale of Gurney Park, Gurney Drive, Penang. We have ready and motivated buyers waiting to buy at the right unit, condition and price. Act now! Opportunity to get your Gurney Park, Gurney Drive, Penang SOLD now.

Behind every successful sale is a Professional Realtor!

We are pleasure to be of service!

Don't wait, contact us immediately if you would ever like your Gurney Park, Gurney Drive, Penang SOLD instead of JUST LISTED. We have a proven marketing programs for getting your Gurney Park, Gurney Drive, Penang sold.

For the list of Property Wanted, please click here.

For the list of Land Wanted, please click here.

If you would like a FREE *Market Analysis on the property, please contact us by clicking here. 
There is no obligation.

We make it our business to know you better to serve you to your full satisfaction. Welcome abroad.

The Peak Condo Wanted

Urgent notice to Owners of The Peak Condo! Contact us now to get your condo SOLD! Ready buyers awaiting you. 

We are delighted to announce that we have ready buyers looking to own a unit of condo in The Peak, Tanjung Tokong, Penang, therefore if you are contemplating a move or know of someone who is, please contact us by clicking here.

For your kind information, the potential buyer is a serious buyer and willing to consider your condo subject to the right unit, condition and price. 

We welcome all keen sellers to contact us to further discussion on the sale of The Peak, Tanjung Tokong, Penang. We have ready and motivated buyers waiting to buy at the right unit, condition and price. Act now! Opportunity to get your The Peak, Tanjung Tokong, Penang SOLD now.

Behind every successful sale is a Professional Realtor!

We are pleasure to be of service!

Don't wait, contact us immediately if you would ever like your The Peak, Tanjung Tokong, Penang SOLD instead of JUST LISTED. We have a proven marketing programs for getting your The Peak, Tanjung Tokong, Penang sold.

For the list of Property Wanted, please click here.

For the list of Land Wanted, please click here.

If you would like a FREE *Market Analysis on the property, please contact us by clicking here. 
There is no obligation.

We make it our business to know you better to serve you to your full satisfaction. Welcome abroad.