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Property News
- Thread starter FHBH12
- Start date
hello good morning sandy kwan. how is business?
M'sians snap up China developer's Selangor project
BY PAULINE NG IN KUALA LUMPUR
PUBLISHED JUNE 17, 2014
MALAYSIAN home buyers appear to have embraced Chinese developer Country Garden Holdings Co Ltd's Diamond City project in Semenyih, Selangor, with four out of five purchasers being locals. The take-up comes amid reports that the Hong Kong-listed builder plans to reclaim land for a huge 5,000-acre (2,023 hectare) man-made island near Pendas and the Second Link in Johor.
Work has already commenced on the island. Development would be undertaken in joint venture with state agency Kumpulan Prasarana Rakyat Johor and span over 30 years, The Star newspaper reported yesterday.
The daily quoted Country Garden's regional president for Malaysia, Kayson Yuen, as stating plans for a mixed development, including luxury homes. Local contractors had been hired for reclamation works as well as an Australian consultant who had previously worked on Sentosa Island's reclamation.
"This will be a massive mixed development and the investment and commitment shows our confidence in the Malaysia market," Mr Yuen said.
Because of softening demand for properties in China, developers there have taken to venturing overseas to "hotspots" such as Malaysia. The Johor economic zone of Iskandar has been an attraction owing to its proximity to Singapore and Malaysian government incentives.
Last November, Guangzhou R&F Properties Co Ltd acquired some 47 ha of land in Johor Baru from the Sultan of Johor for RM4.5 billion (S$1.75 billion). The land consists of four plots of vacant freehold and another two plots of reclaimed freehold land, which is to be developed in partnership with the monarch.
However, Country Garden has a head-start over Guangzhou R&F. Last year, it launched its Danga Bay mixed development and said about two-thirds of its 9,000-plus residential high-rise units were snapped up.
Iskandar Waterfront Holdings is its partner in the 22-ha project. Over the past six months, Malaysia's property market has seen demand dip because of additional cooling measures. However, realtors expect interest in landed properties - especially those in the bigger cities - to remain relatively robust.
Over the weekend, Country Garden regional sales & marketing general manager You Li said its landed homes in Semenyih - about 11/2 hours drive from Kuala Lumpur - had seen a 70 per cent take-up in the first phase which consists of 400-odd houses - link homes, bungalows and mansions. The link homes (built up of 2,300 sq ft) are priced from RM900,000.
Mr You said the first phase was sold at an average RM378 per square foot, and that the second and final phase of 500-plus units would be launched in August or September at a higher price.
Country Garden owns 55 per cent of Diamond City which it is building in partnership with the landowner, the Mayland Group.
http://www.businesstimes.com.sg/spe...ap-china-developers-selangor-project-20140617
BY PAULINE NG IN KUALA LUMPUR
PUBLISHED JUNE 17, 2014
MALAYSIAN home buyers appear to have embraced Chinese developer Country Garden Holdings Co Ltd's Diamond City project in Semenyih, Selangor, with four out of five purchasers being locals. The take-up comes amid reports that the Hong Kong-listed builder plans to reclaim land for a huge 5,000-acre (2,023 hectare) man-made island near Pendas and the Second Link in Johor.
Work has already commenced on the island. Development would be undertaken in joint venture with state agency Kumpulan Prasarana Rakyat Johor and span over 30 years, The Star newspaper reported yesterday.
The daily quoted Country Garden's regional president for Malaysia, Kayson Yuen, as stating plans for a mixed development, including luxury homes. Local contractors had been hired for reclamation works as well as an Australian consultant who had previously worked on Sentosa Island's reclamation.
"This will be a massive mixed development and the investment and commitment shows our confidence in the Malaysia market," Mr Yuen said.
Because of softening demand for properties in China, developers there have taken to venturing overseas to "hotspots" such as Malaysia. The Johor economic zone of Iskandar has been an attraction owing to its proximity to Singapore and Malaysian government incentives.
Last November, Guangzhou R&F Properties Co Ltd acquired some 47 ha of land in Johor Baru from the Sultan of Johor for RM4.5 billion (S$1.75 billion). The land consists of four plots of vacant freehold and another two plots of reclaimed freehold land, which is to be developed in partnership with the monarch.
However, Country Garden has a head-start over Guangzhou R&F. Last year, it launched its Danga Bay mixed development and said about two-thirds of its 9,000-plus residential high-rise units were snapped up.
Iskandar Waterfront Holdings is its partner in the 22-ha project. Over the past six months, Malaysia's property market has seen demand dip because of additional cooling measures. However, realtors expect interest in landed properties - especially those in the bigger cities - to remain relatively robust.
Over the weekend, Country Garden regional sales & marketing general manager You Li said its landed homes in Semenyih - about 11/2 hours drive from Kuala Lumpur - had seen a 70 per cent take-up in the first phase which consists of 400-odd houses - link homes, bungalows and mansions. The link homes (built up of 2,300 sq ft) are priced from RM900,000.
Mr You said the first phase was sold at an average RM378 per square foot, and that the second and final phase of 500-plus units would be launched in August or September at a higher price.
Country Garden owns 55 per cent of Diamond City which it is building in partnership with the landowner, the Mayland Group.
http://www.businesstimes.com.sg/spe...ap-china-developers-selangor-project-20140617
priority registration for upcoming Glenmarie property development @ north tebrau side (near SEC and eco spring/summer)
http://glenmarieproperties.com/residential/glenmarie-iskandar/
houses look nice based on the pics.
http://glenmarieproperties.com/residential/glenmarie-iskandar/
houses look nice based on the pics.
Yes...nice contemporary designs. I think iskandar will slowly but surely start to see more modern and attractive house designs comparable to kl/sg standard. Prices will still trend north with higher design costs and use of better materials. Good to see more established developers coming into tebrau region to add more vibrancy and provide more choices for potential buyers.
can consider branded. govt owned. they are the property arm of DRB-HICOM (Proton).
major developer of glenmarie shah alam, next to subang jaya KL.
location should be north of jp perdana. they are the original owner of1500 acres north of tebrau and have sold 600 acres to EW (ie eco spring/summer).
together with EW and SEC , tan sri & cohorts have land banked 900 acres there.
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possible. they just follow EW la. they're not aggressive in marketing. in fact they're a bit slow in execution (my feeling).
Towering oversupply
Recommendations
We remain cautious on the increasingly crowded developments at Iskandar
Malaysia. Massive supply of apartments/retail spaces in hotspots like the
Nusajaya and Danga Bay areas may cause a market implosion that would
decimate property values over the medium term. Without synchronised
planning and control by the authorities, the Iskandar property market
could be deluged by a massive supply of high-rise mixed development
projects, inducing price volatility.
http://cdn1.i3investor.com/my/files/dfgs88n/2014/04/10/1480243480--42783180.pdf
Recommendations
We remain cautious on the increasingly crowded developments at Iskandar
Malaysia. Massive supply of apartments/retail spaces in hotspots like the
Nusajaya and Danga Bay areas may cause a market implosion that would
decimate property values over the medium term. Without synchronised
planning and control by the authorities, the Iskandar property market
could be deluged by a massive supply of high-rise mixed development
projects, inducing price volatility.
http://cdn1.i3investor.com/my/files/dfgs88n/2014/04/10/1480243480--42783180.pdf
Medini Iskandar secures another office tenant
6 Jun 2014
http://www.theedgemalaysia.com/property/293339-medini-iskandar-secures-another-office-tenant.html
6 Jun 2014
http://www.theedgemalaysia.com/property/293339-medini-iskandar-secures-another-office-tenant.html
True. There doesn't seem to have any urban planning from a centralised state authority. Developers just seems to be rushing to build cookie butter type of developments to ride the wave resulting in massive supply. Just to cash in. Very disconcerting.
I think condo prices will be under pressure.
Go for freehold landed G&G properties in JB
Landed not really safer if the 2m rule is implemented...
Hong Kong's R&F Properties to unveil Johor project
I thought I could escape from the Chinks in Sinkie Land, but shit, it now seems that I was wrong as more Chinks will be coming to Johor in the future. Looking ahead, I think there will be social disorder in JB in the future. Better to consider to move to elsewhere again soon.
Hong Kong's R&F Properties to unveil Johor project
Source: http://www.thestar.com.my/Business/Business-News/2014/06/20/RF-Properties-to-unveil-Johor-project/
China-based company buys RM4.5bil worth of land in Johor Baru
Source: http://www.thestar.com.my/Business/Business-News/2013/12/03/RM45bil-land-deal-in-Johor-Chinabased-Guangzhou-RF-buys-47ha-from-royalty.aspx/
I thought I could escape from the Chinks in Sinkie Land, but shit, it now seems that I was wrong as more Chinks will be coming to Johor in the future. Looking ahead, I think there will be social disorder in JB in the future. Better to consider to move to elsewhere again soon.
Hong Kong's R&F Properties to unveil Johor project
Source: http://www.thestar.com.my/Business/Business-News/2014/06/20/RF-Properties-to-unveil-Johor-project/
China-based company buys RM4.5bil worth of land in Johor Baru
Source: http://www.thestar.com.my/Business/Business-News/2013/12/03/RM45bil-land-deal-in-Johor-Chinabased-Guangzhou-RF-buys-47ha-from-royalty.aspx/
PETALING JAYA: China-based developer Guangzhou R&F Properties Co Ltd is buying six plots of land in Johor Baru for a whopping RM4.5bil from the Johor Sultan, making it a record deal.
The investment, comprising high-rise residential units, low-density housing, retail properties, offices, a hotel and a shopping mall, is the Hong Kong-listed firm’s maiden overseas venture.
“Malaysia, with a sizeable Chinese community and favourable government policy attracting foreign purchasers, is well-suited for the first venture of the group outside China,” said the company in a filing with the Hong Kong stock exchange.
It also said it came to the RM4.5bil consideration through direct negotiation with the vendor and that its board considered the price to be fair and reasonable, given the market condition in Malaysia, location, development cost and potential of the land.
developers from china chart
The developer said it had paid a RM100mil deposit, which would be deducted from the first installment payment of the consideration.
According to Zerin Properties’ chief executive officer Previn Singhe, the estimated sellable floor area of about 3.5 million sq m worked out to a plot ratio of 7.5 times, which is considered high, given that the land is worth about RM891 per sq ft.
Previously, another developer from China, Country Garden Holdings Co Ltd, had bought 22.26ha in Danga Bay for RM376 per sq ft. Comparing both, Previn said the latter’s plot ratio was lower at 5.22 times.
“This is very good for Malaysia. Not only would it spur (our) real estate sector, but there would also be spillover effects in terms of other industries such as education, tourism, agriculture and many more.
“We are now an investment hotspot for companies from China,” he told StarBiz.
Henry Butcher Malaysia director Lim Eng Chong said investors from China were buying property in Malaysia because of the infrastructure, relatively affordable health sector, education facilities and cheaper land cost here. .
He said many small and medium-sized mainland China developers were positive about Malaysia.
“China-based developers looking for businesses elsewhere are seeing Malaysia as an alternative investing destination, as the property prices in the markets that the mainland Chinese were familiar with, such as Taiwan, Hong Kong and Singapore, are beginning to cool down after having gone up considerably,” he said.
Based on his experience, he said, the latest property ceiling price of RM1mil for foreigners had little impact on these investors, as most of them preferred established high-end areas which were selling above that price.
LBS Bina Group Bhd managing director Datuk Lim Hock San said: “In China, people are talking about Iskandar because of its proximity to Singapore. The high prices there have prompted investors to look at Malaysia as a cheaper alternative.”
Property analysts, however, are more cautious on the property market in the Iskandar region now due to high valuations and the possibility of an oversupply.
Maybank IB Research analyst Wong Wei Sum pointed out that developers who emphasised on a fast turnaround and supplied a massive amount of similar products to the market could result in a glut.
“It depends on how they are going to launch it.”
Guangzhou R&F Properties noted in the announcement that its preliminary plan was to develop the land in phases, but did not elaborate.
Analysts also noted that the China-based developers could be targeting mainland Chinese as buyers for their properties and warned of the more speculative nature of such investments.
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Disconcerting but a spectacle for those watching at the sidelines.
Absolutely agree...it's gonna be one helluva big spectacle. Looking forward to the mega transformation that's gonna happen to the physical landscape in the coming 3-4 years! Let the show begin!
$2mil RM will set e benchmark for developers to push their price boundary. Notice $1mil RM did not make properties cheaper but now they get more expensive.
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