The Star Online > Business
Monday May 28, 2012
SP Setia to to buy RM1bil worth of land in Klang Valley, Penang and Iskandar Malaysia yearly
By ZAZALI MUSA
ST PETERSBURG (Russia): SP Setia Bhd is allocating RM1bil yearly to acquire new land for future development in the Klang Valley, Penang and Iskandar Malaysia.
President and chief executive officer Tan Sri Liew Kee Sin said replenishing its landbank in the shortest time possible would place the company in a better position compared with other developers.
He said the move was vital as the company would be able to continually launch new projects as the takeup rate for its properties was good.
“Sufficient landbank is the life-line for us (developers) without which we could not properly plan our future projects,” Liew said after SP Setia's award winning development Setia Eco Gardens in Iskandar Malaysia bagged the FIABCI Prix d'Excellence award at a ceremony held here recently.
Winner again: (from left) Liew, FIABCI world president 2011/2012 Alexander Romenanko, FIABCI Prix d’Excellence 2012 president Laszlo Gonczi and St Petersburg Committee for Construction chairman Vyacheslav Semenenko at the awards ceremony.
The 2012 FIABCI Prix d'Excellence Awards saw 14 winners from seven countries, namely Malaysia, Singapore, India, Taiwan, Russia, Hungary and Switzerland.
Liew said that among Kuala Lumpur, Penang and Iskandar Malaysia, getting new land in Penang was the most difficult due to the space constraint there.
He added that those who managed to get land in Penang would go for high-density projects.
“In the Klang Valley, the next growth centres will be within the Kajang and Semenyih areas,'' Liew said.
He said the upcoming My Rapid Transit system would help boost property development projects outside the existing development centres in the Klang Valley.
With the better accessibility and connectivity within the central region once the MRT system is completed, developers have started looking for land in new development centres.
He said prospective buyers, mostly the first-time houseowners, would consider buying their first residential properties outside the existing growth centres as the prices were within their reach.
On south Johor, Liew said Iskandar Malaysia would drive the property market in Johor many years down the road based on the progress and development taking place in the corridor over the last six years.
“Iskandar Malaysia is more viable compared with other economic growth corridors in Malaysia,'' he said.
Liew said the Johor property market also benefited from Iskandar Malaysia as demand for high-end residential properties was on the rise in south Johor.
He said that apart from the Iskandar Malaysia factor, Singapore also played an important part in determining the economic growth in Johor.
“It is a well-known fact that Johor and Singapore are intertwined in economic activities during good or bad times due to their close proximity,'' said Liew.
Liew said the company was fortunate as all of its projects in southern Johor were strategically located within the flagship development of Iskandar Malaysia.
Its ongoing projects are Bukit Indah with only 5% land left for development from the entire 610.67ha, Setia Eco Gardens and Setia Business Park (383.64ha and 50% still available for future development).
Others are Setia Business Park II (107.24ha), Setia Tropika (299.46ha and 40%), Setia Indah (359.36ha and 10%) and Setia Eco Cascadia (110.70ha and 70%).
“We'll continue looking for more land in south Johor,'' he adds.
Liew said the remaining landbank would keep the company busy in Iskandar Malaysia in the next 10 to 15 years with a gross development value of RM8bil.
He said on average, land prices in Iskandar Malaysia had appreciated when the company first came 15 years ago, the asking price was RM5.50 per sq ft and now it was between RM15 and RM20 per sq ft.
Liew said the opening of the Eastern Link Dispersal Expressway in April and upgrading of several roads within Tebrau corridor had improved connectivity and accessibility.
Meanwhile, Setia Eco Gardens won its second FIABCI Prix d'Excellence Award within three years.
Setia Eco Gardens had in 2009 won the FIABCI Prix d'Excellence award in Beijing for Best Master Plan.
This year it emerges as the winner in the Specialised Project (Purpose Built) category for Eco Greens beating Green Pyramid and Ocenarium of Hungary and Taiwan's Taipei City Hall Bus Station Project.
Eco Greens is a 11.33ha park complex in Setia Eco Gardens comprising a town park and the famed Eco Gallery, which features a green wall that has become an iconic landmark for the 383.64ha township.
SP Setia is the only Malaysian developer to have won four FIABCI Prix d'Excellence awards Setia Eco Park in Shah Alam won for Best Master Plan (2007) and Best Residential (Low Rise) Development (2011) and Setia Eco Gardens for Best Master Plan (2009) and Specialised Project (Purpose Built).
© 1995-2012 Star Publications (Malaysia) Bhd (Co No 10894-D)
Good read to share:
In Kuala Lumpur it ranges from 2.8 to 4 million!!! So the potential for property prices to rise.....
Last edited by Grago; 28-05-2012 at 07:23 AM.
I made a comparison with Klang Valley properties within a radius of 30-40 km from KL CBD. I must firstly qualify to say that I am no expert but based on my humble and little knowledge that I have gathered, for sharing.
Terrace intermediate: RM 500 - 600k (22x75)
Semi D intermediate: RM 1.6 - RM 2.3 mil (40x80)
Bungalow: RM3 - RM4 mil (6000sqft land size)
Bungalow Lot (land only): > RM 200/ft2
Terrace: 400 - 500k (not talking about HH or EL, just generally)
Semi D: RM 1.1 - 1.6 mil (this includes HH/EL)
Bungalow: RM 2.7 mil (based on EL last launch with land area of about 8000sqft - so not comparing apple to apple!) or LF starting price of RM 2.75mil for their Bayou Creek Bungalow.
Bungalow Lot: RM 80/ft2.
My personal observation, the terrace houses are getting closer to the Klang Valley (I must emphasise this is not KL) prices together with the Bungalows. There is still a big gap for Semi Ds and Bungalow Lot to appreciate, if we compare to Klang Valley prices.
IMHO, Nusajaya will be setting its own benchmark in the coming years and I don't think even KL will be a fair comparison.
"Fourth, the argument that the only way to raise the wages of our low-wage workers is through productivity increase is not persuasive. I would like to know, for example, how the two women who clean my office can be more productive than they already are in order to deserve higher wages? I would like to know how the Singapore bus driver can be more productive so that his income will approximate those of his Nordic counterparts?
The truth is that we pay these workers such low wages not primarily because their productivity is inherently low, but largely because they are competing against an unlimited supply of cheap foreign workers. Because cheap workers are so plentiful, they tend to be employed unproductively."
Originally Posted by yonglip
i had in the past asked a few people who stay at unguarded landed at bukit indah whether security is a concern. To my surprise, they said its ok. no major issues. Just install basic alarm + grilles can liao. I would have assumed that being ungated and unguarded, it will naturally have more "hits". Interestingly, it is those G&G tamans that are being visited by robbers more often. One theory is that the robbers might think that those who are rich and with more cash at home would naturally like to stay in tamans that are g&g. Especially more so if they see houses armed to the teeth with security cameras, alarms, grilles, solid gates, dogs etc..tell tale signs that the bugger living within is loaded and scared of being robbed. Hence they take on the 'challenge'/risk for greater rewards. "
Recently in Singapore, there was a security guard caught stealing new credit cards belonging to residents of the condo he was guarding and made use of them to buy goods that he later sold off to pay off loansharks. Gated and Guarded you can have ill intentioned guards in a position to observe your unit and wave you goodbye and then inform his kakis your pattern of movement for their own gains whereas an ungated unit has a random chance of being targetted. All things being equal, I think I rather spend the recurring security fees on beefing up my own unit's security periodically without the knowledge of outsiders view and observations, and have the knowledge that the security level increases regularly through investing the security fees I save from being in a Gated community and not feeling a double whammy of having paid someone to compromise that same security.
Monday, May 28, 2012
Source: Ivan Radford
Investors from Singapore are increasingly investing in foreign real estate as 11 overseas property exhibitions took place in the city last week.
Australia, China, the UK and the US were all competing for attention from Singaporean buyers, while Malaysia continued to be one of the most popular destinations for the eager investors.
... ... ...
The Malaysian property market has seen record transactions and demand in recent months, leading the government to consider implementing a RM1 million minimum entry point for overseas investors to avoid the risk of a housing bubble.
first and foremost, thank you for all the great information you guys have been providing me.
It's not just insightful but funny as well.
Often I crack up laughing because of all the politically incorrect comments as well as the nicknames given to various people and terms.
My family and I are thinking of moving to East Ledang to a 13,000sq area house. It's rather pricey in Johor standards - $3.4mil Ringgit but definitely a steal compared
to the ridiculous property prices in sg.
We only paid a booking deposit and have 2 weeks to decide if we should go ahead with it.
A huge decision I must say because that would mean probably renting out our current homes in Singapore and uprooting the whole family to EL.
From what I read, the most of you still hold your homes and there are some who are staying permanently there.
If you hold jobs in the city in SG, do you travel up and down everyday?
The development in Nusajaya, will it pick up?
We are also thinking of looking at the other developments in the area, HH, leisure farm.
Do you have any recommendations and opinions?
Minimum wage increase of only S$50 for low wage earners?
What a disgrace!
When you are staying at a landed, chances are not that high they know your unit. It is also different when you are in a landed where there are neighbours who keep a lookout.
It also depends on who you asked, there are many hardy locals here who can survive anywhere and are used to things here so G&G is not a concern for them. There will always be people arguing the benefits of non G&G but i know of some who later moved quietly to G&G. You can definitely do both, having G&G and still doing your own security due dilligence. There is nothing to stop anyone from doing that unless one is strapped for budget, even then, one can do it slowly.
Greater challenges also means greater risk but this will also depend on the development one lives in. We have seen many non G&G trying to adopt security firms, etc but seldom see G&G developments going the other way.
Security is my greatest concern but increasingly I noticed that we are no longer safe in Singapore too, even crossing the roads with lights in your favour is no guarantee that one can cross in one piece.
My analysis is that a random attack is less than 1% chance of getting hit while a targetted attack is 50%. So in a crowd where one does not standout is safer than when someone is in a position to observe you legitimately, like in the case of a security guard, and can even shine a light at your house at odd times of the night because they are on patrol. The question then is, is it true that G&G has higher crime statistics or the other way round?
I hope the Malaysian government can consider releasing statistics to show crime rates by area so people can make an informed choice. Or the statistics already exist and it is just me not being able to find it?
Wow! I cant help but to response.....
My sincere advise is, not to listen to the naysayers about G&G. It is like someone telling you that the prison is actually safer! And you need statistics to proof that or the other way around??
No offense to those who are currrently staying in a non G&G community. The locals (increasing trend) are also moving into G&G community instead of their traditional area. The least we can do is to provide our family a community which is so called "safe" and the rest is for us to make it safer. But dont unnecessarily expose yourself and find it otherwise later. So, if security is your biggest concern, why dont you just get into a G&G community and in addition, do what you say (alarm,CCTV, dogs, etc) as well...We dont need you to be part of the statistics by testing it out!
Also, you will find that G&G community (esp those with a concept planned) will always sell better than non G&G. That explains why you could get Semi Ds at less than RM 1 million with big land area too.
There are currently 4 users browsing this thread. (0 members and 4 guests)