I-Bhd earnings set to rise on unbilled sales (The Star, 6th June 2015)

 Property developer I-Bhd should see earnings picking up, underpinned by its RM550
million unbilled sales and forthcoming launches.
 I-Bhd, the master developer of the 72-acre i-City in Shah Alam, posted a 68.9% year-on-
year jump in net profit to RM10.3 million for its first quarter ended March 31, 2015. Its
property development featured strongly in its net profit growth although it was weighed
slightly by pre-opening hotel expenses and seasonality factor in its leisure division.
 With a remaining gross development value (GDV) of over RM8 billion encompassing
more than 10 residential and commercial tower blocks, the group may achieve its vision
of RM500 million to RM600 million revenue annually in three years.
 I-Bhd‘s property investment division will eventually be a healthy cash cow, with the
integral part being the RM763.9 million Central Plaza @ i-City. This is a first-of-its-
 kind regional shopping mall in the country jointly-developed with the Central Pattana
Group, Thailand‘s largest retail developer.
 Also, the opening of new attractions at the Leisure Park is expected to contribute to the
growing revenue base of the leisure activities segment, together with the opening of the
three-star Best Western Hotel.
KLCCP Stapled Group backed by steady earnings (The Edge Financial Daily, 5th June
2015)

 KLCCP Stapled Group‘s office division is expected to remain steady. In financial year
2014 ended December (FY14), the office segment was the major contributor to KLCCP
Stapled Group, contributing 44% of its total revenue.
 Three of its four office investment properties (Petronas Twin Towers, Menara 3 Petronas
[office portion only] and Menara Dayabumi) have been leased out for long term to its
major shareholder, Petroliam Nasional Bhd.
 Menara ExxonMobil is under a five-year lease agreement expiring in January 2017. The
tenancy agreement with ExxonMobil is likely to be renewed. This is in view of the good
relationship established with ExxonMobil and the prime location of the property in the
KLCC Development Area.
 The Phase 3 refurbishment of Menara Dayabumi involves the redevelopment of the City
Point podium into a 60-storey office and hotel tower with new retail outlets. KLCC has
secured Shangri-La Hotel Group as tenant to occupy the top half of the tower and to
operate it as a hotel.

 Separately, the implementation of the goods and services tax (GST) from the second
quarter of 2015 onwards will affect consumer spending in the short term. This should
moderate the rental reversion growth to 5% in FY15 (from 12% in FY14) as tenants due
for the lease renewal may negotiate for lower increase in rental rates than in the past.

 For existing tenants, the rental rate and service charge should remain the same while the
profit-sharing portion is expected to continue to contribute less than 1% of its retail
division‘s total revenue.

 The retail segment contribution to KLCCP Stapled Group‘s revenue is 33% while its hotel
division‘s revenue declined 36% year-on-year to RM31.5 million in the first quarter of
2015. This was caused by weaker market demand for luxury hotel rooms in Kuala
Lumpur in line with the plunge in oil prices. Oil and gas accounts within the hotel division
are economising on travel and event expenses for their businesses. In addition,
renovation works have started on Mandarin Oriental Kuala Lumpur in 1QFY15 and this
will likely affect its occupancy rate.
 Potential earnings growth is only expected in the longer term after the completion of its
60-storey tower next to Menara Dayabumi in FY19. Potential asset injection from
Petronas (Lot 185 and Lot 91) into KLCC should only happen beyond FY18.

RM2.5b Damansara City to fully operate by Q2 2016 (The Star, 10th June 2015)

 The RM2.5 billion Damansara City (DC), the flagship development of Guocoland
(Malaysia) Bhd, is set to operate fully by the second quarter of 2016.

 Sprawled over 3.44 hectares in Damansara Heights, the project will consist of two high-
rise residency towers, two Grade-A office towers, a lifestyle mall and a five-star hotel,
and is expected to attract more than 10,000 patrons daily.

 DC residents are welcomed to move in by the end of this year while corporate and retail
tenants can do so by the second quarter of next year.

 The residences, comprising 370 units in two 28-storey towers, are reportedly 50 per cent
booked with the corporate towers at 70 per cent and the mall has secured in-principle
agreements for half of the lettable space.

 The project which was under the Economic Transformation Programme is set to elevate
Malaysia to a developed nation status by 2020.

 DC is technologically advanced with MSC status certification, environmentally friendly

and complies with the Green Building Index (GBI) certified rating.

 The developer has invested in an underpass and a flyover into DC from Jalan Beringin
and Jalan Johar.

Malton unfazed by BNM's tightening of home loan requirements

(theedgemarkets.com, 9th June 2015)

 Malton Bhd has unveiled its iconic development, Bukit Jalil City - an integrated
development which sits on a 50-acre freehold land and carries RM1.5 billion in gross
development value (GDV).

 The development is divided into four phases, comprising Phase 1 — the development of
3- and 5-storey signature shop offices, Phase 2 — building a luxury high-rise park
residence, while Phase 3 and Phase 4 are the development of a regional shopping mall
and a proposed hotel or corporate office tower.

 Malton is unfazed by Bank Negara Malaysia (BNM)'s new ruling, which saw the
requirements for home loan applications being tightened.

 The 112 units of commercial offices which were launched recently, have been sold.

 Currently, Malton has unbilled sales of RM1.3 billion. Its order book standing at RM1.3
billion is expected to keep the company busy for the next three years.

 For the third quarter ended March 31, 2015 (3QFY15), Malton posted a 95.4% jump in
net profit to RM5.1 million, from RM2.67 million a year ago. The company attributed this
to the higher billings from its Bukit Jalil City project in Kuala Lumpur and SK One
Residence project in Seri Kembangan.
 Cumulative revenue was lower by 38.8% to RM26.42 million from RM43.19 million in the
same period a year ago. Third quarter was RM132.14 million, 29% higher than its
3QFY14 revenue of RM102.62 last year.

 For the cumulative period, its revenue came in at RM354.92 million, down 10.9%
compared to RM398.14 million.

Jakel unveils maiden property project (The Star, 20th June 2015)

 Jakel Development Sdn Bhd, associated with the successful textile retailer, launched its
maiden residential property project in Cheras last month.

 The project, named after silk textile J. Dupion, is a 1.7-acre leasehold development. It
features two 39-storey blocks with 399 units of condominiums ranging from between 800
sq ft and 2, 249 sq ft and 11,000 sq ft commercial space (equivalent to 15-unit retail lots)
with an estimated gross development value (GDV) of RM400 million. The units are
priced between RM680 per sq ft and RM780 per sq ft. About 70% of the residential units
in J. Dupion have already been sold, just a month after launching, while the commercial
space will be leased.

 Located at Jalan Sembilang, off Jalan Loke Yew in Cheras, circa 5km from the city
centre, the project is accessible via the Cheras Kajang Highway, Sungai Besi Highway,
East-West Highway and the MRR2. The project is also located in proximity to the
upcoming MRT Line (Taman Pertama Station), which is slated for completion in the first
quarter of 2017.

 The group is planning to launch property projects with total GDV of RM3.5 billion in the
next five years.

 Dupion Island, an integrated development comprising commercial, residential and retail

components, featuring a shopping mall, apartments, hotels and office space. The project
will be built on the 14-acre site of the former Cheras Velodrome. There are plans to build
a covered walkway to connect the J. Dupion project with the MRT station, which will also
be linked to the Dupion Island project.

 Two projects in Wangsa Maju which will comprise three blocks of residential apartments.
It is planned for launch in the second quarter of next year,
 Jakel‘s property portfolio comprises shop lots in the vicinity of the Masjid India area in
Kuala Lumpur, Bangi, Cheras, Shah Alam in Selangor and also in Johor Baru.

 Jakel Group currently operates 20 stores nationwide and employs close to 5,000
workers. In terms of sales, Jakel Group has been growing steadily, especially over the
past five years. Its revenue compounded annual growth rate stood at 20% per year.

 Having successfully opened the world‘s largest standalone textile mall, Jakel Mall, in
Jakel Square in Kuala Lumpur in February, the group has two more malls in the pipeline
- in Seksyen 7, Shah Alam (on seven acres with an estimated GDV of RM1.7 billion) and
in Bangi (about three acres with a GDV of RM850 million).

 In 2012, Jakel Group bought the Cap Square north and south towers for more than
RM300 million. Combined, the two retail podiums have a total gross lettable area of more
than one million sq ft.
 Subsequently, the group redeveloped Cap Square into Jakel Square, comprising Jakel
textile mall with an area of 330,000 sq ft, a hypermarket, a four-star syariah-compliant
hotel, the first in the country, of more than 300 rooms, and 2,543 car parking bays.

 The mall is also expected to welcome Middle East‘s largest hypermarket chain Lulu
Group that operates a big grocery, IT and electronics supermarket chain in Abu Dhabi, in
the later part of this year. Lulu will be occupying more than 300,000 sq ft of space in
Jakel Square.

 The Shah Alam project will comprise one textile shopping mall, one Lulu hypermarket,
retail space and three blocks of residences. Lulu is expected to occupy about 250,000 sq
ft of the development. Both malls will have the same concept as the Jakel Mall and will
take about three years to complete. The group is targeting to start construction in Shah
Alam and Bangi in 2017 and 2018 respectively.

8 Conlay redefines urban luxury living (The Star, 24th June 2015)

 KSK Land Sdn Bhd has unveiled its upcoming luxury high-rise development that boasts
a desirable address in the Kuala Lumpur. The firm‟s maiden project, 8 Conlay, is an
integrated development, comprising branded residences, a 5-star hotel and a retail
component located at No. 8, Jalan Conlay.

 A renowned Bangkok-based landscape firm, TROP, is designing a tropical rainforest

themed landscape for 8 Conlay, marking their first venture in Malaysia. TROP is
transforming the 44th level of the conjoined towers into a chic personal space that
resembles a tropical rainforest in the heart of city centre. The vertical garden space will
portray the idea of a futuristic park that blends architecture and nature.

 8 Conlay is a mixed development comprising two branded 57-storey and 62-storey

residential towers connected via two sky bridges at level 44 and 26, coupled with a 68-
storey five-star hotel, as well as a retail component. The two branded residential towers
are scheduled for completion by 2019 and will comprise residential units with built-up
sizes ranging between 682 sq ft and 1,295 sq ft. These towers will be launched in
October 2015.

 The four floors of retail outlets at 8 Conlay is expected to be completed first, which is by
2018. The freehold development will be fully functional by 2020.

Mitraland fills a market gap in Klang South (City & Country, The Edge Malaysia, 29th
June 2015)

 Mitraland Group Sdn Bhd will be building a new landmark in the fast-growing southern
Klang corridor in Selangor. A number of townships, such as Bandar Bukit Tinggi, Bandar
Botanic, Bayuemas and Bandar Parklands, have come up in this area, making Klang a
rising housing and property investment hot spot. Banking on the potential of Klang
South, Mitraland is embarking on a RM1.3 billion mixed-development there called
Gravit8.

 Gravit8 is located on a 15-acre freehold site in Jalan Klang Banting, opposite the
proposed Johan Setia LRT station. It is also next to the Shah Alam Expressay (KESAS)
heading towards Port Klang.
 The mixed use project with a marine theme will comprise serviced apartments, specialty
retail outlets, a mall, corporate offices, small offices/versatile offices (SoVos) and a
boutique hotel. There are plans to have an eight-acre lake on the site.

 In line with the theme, Mitraland also plans to display the first-in mall aquarium in Klang
and set up the royal city‘s first seafood hub within Gravit8.

 The first phase of the development was launched in March and has been seen an
encouraging take-up of 80%. It offers 22 units of three to five-storey shopoffices that
have built-ups of 4,909 sq ft to 18,190 sq ft, priced from RM1.83 million to RM5.5 million.
This phase is due for completion by May 2018.

 Phase 2A, comprising two towers offering more than 600 units of serviced apartments, is
currently open for registration and is targeting for launch in December. The apartments
with built-ups of 600 sq ft, 750 sq ft, 850 sq ft and 1,000 sq ft have indicative selling price
of RM500 per sq ft to RM550 per sq ft.

 Gravit8 Phases 2B, 2C and 3 are scheduled to be unveiled in the next few years. If the
current phase of serviced apartments attracts overwhelming response, the next phase
may be unveiled this year. Phases 2B and 2C, slated for launch next year will offer more
serviced apartments, retail shops, the concept seafood hub, a mall and SoVos while
Phase 3 will feature offices, a 150 to 200-room boutique hotel and some retail shops.

 The entire Gravit8 project ishould be completed in seven to eight years, depending on
market conditions.

 Meanwhile, the target market for Gravit8 comprises local buyers from Kota Kemuning
and other nearby Shah Alam areas. The population in Klang and its surrounding areas
will be able to support the project.

 Separately, Mitraland has projects with estimated gross development value (GDV) of
RM2.5 billion that will keep the group busy in the next four to five years. The projects are
spread across various locations in Klang Valley and Greater KL, from Cheras to Mon‘t
Kiara, from Kota Damansara to Puchong and now southern Klang. Soon, Mitraland will
be moving on to Semenyih and even Melbourne, Australia - its first overseas project
currently on the drawing board.

VW Sungai Besi site to make way for RM1b project (The Edge Malaysia, 29th June
2015)
 The Volkswagen showroom in Sungai Besi will make way for a mixed-development
project with an estimated gross development value (GDV) of RM1 billion following the
sale of the land on which sits to Binastra Group. The parcel was previously part-owned
by Eastern & Oriental Bhd (E&O) and it is located a stone‘s throw from the old Sungei
Besi Royal Malaysian Air Force Base, which will develop into Bandar Malaysia project.

 Renown Heritage Sdn Bhd, a company equally owned by E&O and Singapore‘s Wearne
Brothers Properties (Private) Ltd, sold the land to Binastra Land Sdn Bhd for RM96
million on June 12, 2015. E&O which holds its stake in Renown through its subsidiary
Teratak Warisan (M) Sdn Bhd, will reap RM31 million from the transaction. At RM96
million, the parcel measuring 177,498 sq ft translate into RM541 per sq ft.

 The JV company had rented out the premises to VW dealer, Wearne‘s Automotive, in
2009. However, Wearne‘s Automotive need not rush to vacate the premises as the
 tenancy was recently renewed for another year and has been novated to the new owner
Binastra Land.

 Binastra Land plans to launch a mixed-use development project comprising retail space,
serviced apartments and a hotel in mid-2016 or end-2016.

 Binastra Group, which has both a construction and a property development arm, started
out as a construction company in 1979. The company ventured into property
development just a decade ago in 2005. Some of the company‘s previous projects
include 32 Avenue Phase 2 @ Bukit Serdang and The Park @ Bukit Serdang. Two of its
on-going projects are Green Residence @ Cheras 9th Mile and Cybersquare @
Cyberjaya.

 The group has two upcoming projects in Kuala Lumpur, namely CitiZen and City
Wholesale or Pusat Perniagaan City.

 CitiZen, located along Jalan Klang Lama, will offer three blocks with 711 units of serviced
apartments.

 City Wholesale, located near Chow Kit, fronting Jalan Raja Laut and Lorong Haji Taib 3
will be developed with two 10-storey blocks comprising eight levels of retail lots and two
levels of small office/flexible offices (SoFo).

 The group has two upcoming projects in Kuala Lumpur, namely CitiZen and City
Wholesale or Pusat Perniagaan City.
 CitiZen, located along Jalan Klang Lama, will offer three blocks with 711 units of
serviced apartments
 City Wholesale, located near Chow Kit, fronting Jalan Raja Laut and Lorong Haji Taib
3 will be developed with two 10-storey blocks comprising eight levels of retail lots and
two levels of small office/flexible offices (SoFo).
Foreign buyers help drive DC Residency’s 60% take-up rate (theedgeproperty.com,
10th July 2015)
 GuocoLand (M) Bhd, the property development arm of Hong Leong Group, is optimistic
that its Damansara City Residency (DC Residency) Tower A will be fully taken up by
year-end.
 DC Residency Tower A achieved a take-up rate of 60% during its pre-launch for foreign
investors in May. There has been encouraging response from both local and
international buyers.
 Singapore and Cambodia investors showed ―great interest‖ in the project and half its
60% take-up rate was from Singaporeans.

 The selling price for Tower A is RM1,350 per sq ft.

 DC Residency will have 370 serviced apartments of a contemporary design with a built-
up area of between 899 sq ft (1 bedroom) and 2,705 sq ft (3+1 bedroom). Tower B of DC
Residency will be open for sale after completion.

 Damansara City, with a gross development value (GDV) of RM2.5 billion is located in
Damansara Heights. It comprises two Grade-A office towers; two 28-storey residential
towers called DC Residency; an F&B-centric lifestyle mall; and, a 5-star hotel. The entire
project sits on 8.5 acres of freehold land and will be fully operational by mid-2016.
 The flagship integrated development by GuocoLand, will be officially launched this
weekend.
 Meanwhile, Hong Leong Bank Bhd will be moving into Tower A of the office towers after
acquiring the building. The 33-storey Grade-A office tower block with a useable area of
530,000 sq ft will be occupied by the Hong Leong Group.

 GuocoLand has already secured agreements in principle with well-known local and
international brands for half Tower B‘s 240,000 sq ft net lettable area NLA).

 Separately, GuocoLand is also planning to launch three residential projects in Alam

Damai, Sepang and Rawang before the end of the year.

Lend Lease brushes aside concerns over its JV with 1MDB – report (The Star, 7th July
2015
 Australia-listed property developer Lend Lease, which in March formed a joint venture
with 1Malaysia Development Bhd (1MDB) to develop a A$2.8 billion (RM8 billion) project
at the Tun Razak Exchange (TRX), has dismissed concerns over the project‘s future.

 The Lifestyle Quarter, spanning over 17 acres, will comprise a shopping centre
integrated with TRX‘s multi-layer central park, along with three residential towers and a
hotel. Construction is scheduled to start in late 2015.

 The Lifestyle Quarter will be developed in a 60:40 partnership, with Lend Lease taking a
majority stake.

 Lend Lease has operated in Malaysia for over 35 years. Among projects it has been
involved in are the Petronas Twin Towers, Setia City Mall and Pinewood Iskandar
Malaysia Studios.

UEM Sunrise inks deal for Hyatt House Hotel in Mont Kiara (The Star, 9th July 2015)

 UEM Sunrise Bhd's wholly-owned subsidiary, Arcoris Sdn Bhd, has inked a
management agreement with an affiliate of Hyatt Hotels and Resorts for a Hyatt
House hotel in Mont’ Kiara.

 Expected to be opened in 2017, Hyatt House Kuala Lumpur, MontKiara, will mark the
first Hyatt House hotel in Malaysia.

 The hotel will feature about 298 guestrooms, a three-meal restaurant, 3,100 sq ft (290
sq m) of meeting space, a fitness centre and sky pool.

 It will be part of a larger mixed used development, Arcoris MontKiara, which will also
feature business suites, small home offices (SoHo), residential units, and a retail
plaza.

Robson Hill – Asia’s Beverly Hills’ (City & Country, The Edge Malaysia, 13th July 2015)

 Instant Bonus Development Sdn Bhd‟s project, Robson Hill, sits on a 1.5-acre freehold
site in Jalan Robson, Seputeh.

 Due to be completed in 2018, the luxury residential development of Robson Hill, with
gross development value (GDV) of more than RM500 million, will feature two 38-storey
towers offering 404 units in total. The typical built-up areas will range from 652 to 1,276
sq ft while the 28 duplexes will have built-ups of 1,534 sq ft to 2,568 sq ft. Prices start
from RM1,260 per sq ft, with typical units costing about RM2 million and duplexes RM4.2
million.
 The high-rise development promises hotel services such as front desk, concierge
services, housekeeping, laundry services, a security-access system and 24-hour security
surveillance. The maintenance fee is estimated to be 50 cents per sq ft.

 The project will also feature a mini theatre for the residents and a sky lounge on the
rooftop offering breath-taking 360 views of Kuala Lumpur. Other unique features of the
building is its anti-seismic (earthquake resistance) design.

 Instant Bonus Developments is planning to position Robson Hill as Asia‟s version of

Beverly Hills. Its target market will be celebrities and investors who appreciate the
celebrity lifestyle with half of the buyers to be locals and other half from Singapore, Hong
Kong, Taiwan, Singapore, Japan and China.

 The date of the official launch of the two-phased development has yet to be fixed.
Currently, there is only priority bookings and also bookings by invitation. Nonetheless,
the exclusive previews and marketing exercise have reportedly achieved a take-up of 40
units.

Hong Leong Group’s global headquarters heads to Damansara City (The Star, 13th
July 2015)
 GuocoLand (Malaysia) Berhad has confirmed that its flagship development, Damansara
City, has been chosen as the future home for the Hong Leong Group‟s global
headquarters. The 33-storey Grade-A office tower block in the southwest (direction) end
of the iconic development, will be the star anchor tenant within Damansara City, once it
is fully occupied by the end of second quarter next year. Office Tower A‟s 530,000 sq ft
of usable area will be progressively handed over to various operating companies within
the Hong Leong Group in coming months.

 The jewel of Damansara Heights, Damansara City is an integrated city development on

8.5 acre, consisting of two Grade „A‟ office towers; two towers of luxury residences
known as DC Residency; an F&B-centric lifestyle mall; and a 5 star hotel. The entire
project will be fully operational by mid-2016.

 Damansara City, with a gross development value (GDV) of RM2.5 billion, is an Entry
Point Project (EPP) under Malaysia‟s Economic Transformation Programme. It has been
identified as a key component and driver of one the fastest growing business districts in
the Greater Kuala Lumpur area with strong and growing interest from buyers and tenants
across South East Asia.

 The Hong Leong Group is a leading conglomerate based in Malaysia with diversified
businesses in banking & financial services, manufacturing & distribution, property
development & investment, hospitality & leisure, and principal investment. The Group
today controls a number of listed companies in various stock exchanges with hundreds
of operating subsidiaries and associate companies in Malaysia to North and Southeast
Asia, Western Europe and the UK, as well as North America and Oceania.

 The office spaces at Damansara City are setting a new benchmark, the office towers are
MSC-status ready developments that comply with the Green Building Index (GBI)
Certified rating; the Leadership in Energy & Environmental Design (LEED) Gold rating;
and CONQUAS Quality Assessment for its building construction works.

 Hong Leong Group is the first of several prominent brands that are moving their
corporate headquarters to Damansara City. DC Mall, the soon to be opened lifestyle and
F&B heart of Damansara City is also seeing strong demand for its space as it has
 already secured in-principle agreements with some well-known local and international
brands for half its lettable space.
 Meanwhile, DC Residency offers two 28-storey residential towers, consisting of 370
contemporarily designed serviced apartments with built-up areas (for typical units)
ranging between 899 sq ft (1-bedroom) and 2,705 sq ft (3+1 bedroom).

 Damansara City is expected to have an initial traffic of 10,000 people daily working within
the integrated development and average another 6,000 visitors when it is fully
operational.

 GuocoLand has built an enviable track record as a leading property developer with a
history that spans over 50 years in residential townships, commercial and mixed
development projects in Malaysia such as the upcoming master planned townships
Emerald Rawang and Pantai Sepang Putra, as well as upcoming Alam Damai and Jasin.
It is part of the Singapore-based GuocoLand Ltd, which is a leading regional property
player with established operations in China, Singapore and Vietnam.

Sunway Property announces second half launches (The Star, 14th July 2015)
 Malaysia‟s master community and top developer, Sunway Property, announced that the
corporation will keep to its total sales target of RM1.7 billion this year.

 In the past six months, the developer has further strengthened its position as a master
community developer with the launch of Malaysia‟s first elevated Bus Rapid Transit
(BRT) – Sunway Line, which connects the 500,000 commuters in the Sunway and
Subang Jaya areas to the rest of Klang Valley; the opening of Sunway University‟s new
12-storey academic block; joint-venture (JV) with Daiwa House from Japan to build 100
units of high quality pre-fabricated landed homes in Sunway Iskandar; and the soft
launch of the 600,000 sq ft Sunway Putra Mall in KL City Centre.

 In the next six months, the developer will continue to track sentiment and plan
accordingly to launch a total of six projects.

 In Klang Valley, the new launches include Sunway Gandaria in Bangi, Casa Kiara 3 in
Mont Kiara, new retail and office units within Sunway Velocity in KL South, and Sunway
Geo Residence 3 in Sunway South Quay, Bandar Sunway.
 Sunway Gandaria is a leasehold 2.06-acre project in Bangi, Selangor, which consists of
259 units of service apartments and 34 retail units. This projects targets to gross an
approximate of RM226 million GDV.

 Casa Kiara 3 in Mont‟ Kiara, expected to gross RM336 million GDV, will be developed
on a 2.88-acre freehold land and will comprise 288 units. The development will feature
dual-key units.

 Sunway Velocity - 24 units of retail shops and another 40 units of office suites in the
RM4 billion freehold integrated development that consists of a shopping mall,
residences, offices, retail shops, hotel, medical centre, and a two-acre Central Park. The
retail, hospitality and healthcare components comprising 40% of the integrated city, will
be built, owned and operated by Sunway. The development will be served by upcoming
MRT and LRT stations.

 Sunway Geo Residences 3, at Sunway South Quay, the final launch in the development
comprising 420 units of condominiums and 44 units of townhouses. The 23.4-acre
integrated development with an estimated RM2 billion GDV is located within the growing
education and healthcare precincts of Sunway Resort City and is served by the newly
launched Bus Rapid Transit (BRT) – Sunway Line.
 In Penang, the developer will launch 48 units of landed homes in Sunway Cassia, Batu
Maung with an approximate GDV of RM90 million.

 In Sunway Iskandar, Sunway Property will launch its first 196 units of landed homes
called Sunway Emerald Residence, at the Lakeview Precinct, which is next to the
Sunway International School (SIS) Sunway Iskandar.

 In the first half of the year, the developer has acquired a new 17-acre land bank in
Kelana Jaya to develop exclusive residential enclaves with a lake and golf course views
with estimated GDV of RM1.8 billion.

 Sunway Property is also planning its first integrated development in Paya Terubong,
Penang, on a 24-acre freehold land. The estimated GDV for the development is

 RM1.5 billion, which consist of commercial, SOHO high-rise residential and a 1.4 million
sq ft shopping mall.

 While there had been no new launches from the property development division, the
developer had secured sales valued at RM500 million for the first half of the year on its
on-going projects, despite the weaker market sentiment.

 The group‟s unbilled property sales of RM2.5 billion combined with its remaining land
bank of 3,343-acre as of July 2015 and a total GDV of RM50.4 billion will keep the
property division busy for the next 15 years. The total value of Assets Under
Management of the division as of 31 December 2014 was more than RM7 billion with a
total net lettable area (NLA) exceeding 8.3mil sq ft, is expected to generate healthy
recurrent income for the group.

Sunway REIT stays cautious in tough environment (theedgeproperty.com, 14th July

2015)
 Sunway REIT Management Sdn Bhd is adopting a cautious approach for its future
acquisitions because of stiffer competition in the office, retail and hospitality property
segments.

 The company anticipates a softer property market ahead, and has adopted a more
cautious and prudent strategy for third-party acquisitions since last year. It is now
focusing on unlocking value in newly injected assets such as Sunway Putra Mall, which
located in Jalan Putra, Kuala Lumpur.

 Sunway Putra Mall is a refurbishment project by Sunway REIT, comprising Sunway

Putra Hotel, Sunway Putra Tower (offices) and a retail mall. It will be fully completed by
year-end. The office tower is now 61% occupied.

 The three-in-one, integrated development (hotel, tower and mall) is a strong value
proposition and will attract the right tenants and guests.

 Separately, the company aims to grow its total assets to RM7 billion by 2017 from RM5.8
billion presently. It is considering possible opportunities in education assets, data
[centres], logistic warehouses or industrial properties.

 The company‟s current asset portfolio includes the retail, hospitality, office and medical
subsectors.
Hyatt House hotel is coming to Mont Kiara (The Star, 13th July 2015)

 Arcoris Sdn Bhd, a wholly-owned subsidiary of UEM Sunrise Bhd has entered into a
management agreement with an affiliate of Hyatt Hotels & Resorts for a Hyatt House
hotel in Mont‟ Kiara.

 Expected to open in 2017, the hotel will be part of a larger mixed use development,
namely Arcoris Mont‟ Kiara, which will also feature business suites, small home offices
(SoHo), residential units and a retail plaza.

 Hyatt House Kuala Lumpur, Mont Kiara‟, will mark the first Hyatt House hotel in Malaysia
that will feature approximately 298 guest rooms, a three-meal restaurant, 3,100 sq ft of
meeting space, a fitness centre and a sky pool.

 Hyatt House Kuala Lumpur, Mont Kiara completes the overall implementation plan of our
award-winning Arcoris Mont‟ Kiara development, which is designed by the London-
based architectural firm, Foster + Partners.

Bukit Bintang City Centre to launch first phase in December (theedgeproperty.com,

21st July 2015)
 Bukit Bintang City Centre (BBCC) project, the consortium project spearheaded by UDA
Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund
(EPF), plans to launch its first phase by the end of this year.
 Kuala Lumpur City Hall (DBKL) has approved the development order (DO) for the
masterplan this month. Once DBKL approves the detailed DOs, tenders for the
construction works will start soon. The detailed DOs are for each component of the first
phase of the project -- shopping mall, strata offices, hotel and high-rise residences.
 Meanwhile, the joint-venture (JV) agreement with EPF, Mitsui Fudosan Co Ltd and Sony
subsidiary Zepp Entertainment are currently in the final stages of negotiations.
 UDA has pledged to award half of the construction works of the development to
bumiputera companies.
 The BBCC project, which sits on the tract of former Pudu Prison, has an estimated total
development cost of RM5 billion. It has a gross development value (GDV) of RM8 billion.
 Both Eco World and UDA hold a 40% equity stake in the special purpose vehicle (SPV)
that undertakes the development project on a 19.4-acre (7.85-hectare) parcel of prime
land strategically located between Jalan Pudu and Jalan Hang Tuah, near the bustling
Bukit Bintang area. The EPF holds 20%.
 As the landowner, UDA will receive RM1 billion in development rights from the SPV for
the redevelopment.

Property company KIP eyes Bursa listing next year (The Star, 23rd July 2015)
 Plans are already in the pipeline for Kuala Lumpur-based property company KIP Group
to be listed on Bursa Malaysia next year.

 The company is currently undertaking the necessary steps to prepare itself to become a
public-listed entity. It is also building up its assets now for listing purposes and looking at
the real estate investment trust segment as its core activity.

 The company recently held the groundbreaking ceremony for its freehold high-rise
condominium project, 8scape@Iskandar Malaysia near Taman Sutera. The project on a
3.72-hectare site comprises four tower blocks of 25-storeys each, offering 1,255 units of
condominiums with built-up areas ranging from 808 sq ft to 1,654 sq ft.
 The average selling price for the condominiums in the first two blocks is between RM450
per sq ft and RM500 per sq ft while the indicative price for the last two blocks will be from
RM550 per sq ft onwards.

 The project, with a gross development value (GDV) of RM700 million, is expected to be
completed in the first quarter of 2018.

 The company is confident that the project will do well despite negative reports of a
property oversupply in Iskandar Malaysia, especially in the high-rise residential property
segment. Some 60% of the units in the first two blocks have already been sold and the
company will soon submit its application for the release of bumiputra units to the non-
bumi buyers.

 Iskandar Malaysia will be the main factor to continue driving property demand in south
Johor.

 The company had made its foray into the Johor Baru market during the 1997/1998 Asian
financial crisis with Tampoi Indah long before the launch of Iskandar Malaysia on
November 4, 2006.

 Separately, KIP will open its community mall KIP Mart in Sepang, Selangor, in the first
quarter of 2016, to be followed by Sungai Buloh, Selangor, and Sungai Petani, Kedah, in
the third quarter, and Kuantan, Pahang, and Kulim, Kedah, in the first quarter of 2017.

 The company is also looking for suitable land (between 4.04 hectares and 7.28 hectares)
in Batu Pahat, Kluang, Muar and Gelang Patah in Johor to open more KIP Mart outlets
within the next two years.

 KIP’s first 200-room boutique hotel, KIP Hotel in Jalan Ipoh, Kuala Lumpur, will open for
business in September this year before expanding to Sepang, Selangor, and Bachang,
Malacca, in 2017.

Mercure hotel sale and leaseback scheme enjoys high take-up rate
(theedgeproperty.com, 24th July 2015)

 The Mercure Hotel in Kota Kinabalu that offers a sale and leaseback scheme has
received overwhelming response from local and foreign investors, with 120 suites
already taken up.

 According to a statement by global property consultant Knight Frank Malaysia, the

hotel offers 130 units of fully furnished suites for interested investors. The sizes of the
suites range from 642 sq ft to 1,370 sq ft, with layout selections of one, two and three-
room suites. Only 10 units are left, selling from RM726,000 to RM1,494,000.

 Mercure Hotel is located at Kota Kinabalu City Centre, 550m away from the Kota
Kinabalu Ferry Terminal.

 The 25-storey hotel will comprise 315 hotel rooms and suites, with room sizes ranging
from 689 sq ft to 1,475 sq ft. Facilities include rooftop swimming pool, rooftop gym,
spa, restaurant and bar. With its proximity to the South China Sea and Signal Hill Park,
Mercure Hotel will enjoy both sea and forest views.

 The construction of the hotel started in 2012 and will be completed by year end. It
should open its doors in January 2016.
 The four-star hotel will be managed and operated by French company, Accor Group —
this is its first Mercure brand hotel in Malaysia. Mercure Hotel is one of Accor Group’s
11 hotel brands. Currently, the group has nine hotels under four brands in Malaysia,
namely Pullman, Novotel, Ibis and Avangio.

Transforming the urban landscape (The Star, 27th July 2015)

 The city skyline, once filled with generic concrete buildings, looks all set to change with
glittering towers that soar majestically above the rest.
 Kuala Lumpur is undoubtedly a magnet for international corporations and their
professionals, along with tourists and expats. It’s no surprise that foreign investors are
attracted to the excellent infrastructure, rich cultural melting pot and a competitive
currency exchange rate.

 Developers are thus jumping at the opportunity to provide luxurious residential

properties for these corporate powerhouses and discerning expatriates, all housed
within a prestigious address. There are many reasons as to what makes the address
of KL an enviable and much sought-after one.

 Designer lifestyles
 Tropicana Corp Bhd’s The Residences, with its moderately sized units priced
reasonably, sets out to nurture that feeling by showcasing how glamorous nature
can be. Inspired by the distinctiveness of haute couture and the bold colours of the
heliconia plant, the result is an exterior and public space that makes an impressive
statement of exclusivity.
 KSK Land’s 8 Conlay, a trio of compellingly charismatic towers, further redefines
the KL skyline.
 The Opus brings a whole new level to the love for city-living. From the reception of
the designer lobby to the sophisticated car park, every international need and
want is carefully tailored to.

 Excellent connectivity
 Property gurus have only one mantra, and that is “Location”. More people are
choosing to live in urban areas as they seek out properties located in high return
and low risk areas, preferably within close proximity to amenities and public
transportation.
 8 Conlay is strategically located in the heart of KL’s Golden Triangle, in close
proximity to the Raja Chulan monorail station and the proposed MRT station at
Jalan Conlay.
 At Opus, residents are located in close proximity to the KL118 tower, which will
have a MRT station within. Besides the major roads in the locality such as Jalan
Syed Putra and Jalan Mahameru, there are monorail stops right nearby which
further connects to both KLIA and KLIA2 via KL Sentral.
 The Residences, meanwhile, is sited along the intersection of Jalan Ampang and
Jalan Yap Kwan Seng. Its residents will also be able to walk to the KLCC LRT
station and the Bukit Nanas monorail station.

 Happiness and health

 At Opus, the carefully thought-out facilities area brings direct advantages to the
residents, with a galaxy swimming pool, floating yoga deck and rooftop fully fitted
kitchen for al fresco dining, to name a few. No detail is spared when it comes to
giving the best experience. From the columns, beams and hardscapes, to colours,
details and softscape, it is all about a sustainable lifestyle.
 The Residences has a maximised plot ratio that allows for a 360-degree view.
Residents will be able to immerse themselves in some of the facilities available,
 namely the tranquil saltwater sky pool, forest lounge, misty walk, aquarobics zone
and gourmet loft. A new inspiration emerges from this development, where fashion
is merged with artistic landscaping, creating a verdant retreat at the very top of the
building.
 8 Conlay’s 44th floor features a unique elevated jogging track encircling a tropical
forest garden, a perfect replica of Malaysia’s hilly and lush terrain that residents
can enjoy within the comforts of home. Partnering with Kempinski Hotels,
Europe’s oldest hotel management company, 8 Conlay is set to bring impeccable
personalised services to its residents, allowing them to indulge in true five-star
luxury.

Iconic 5-star Tropicana The Residences at KLCC (The Star, 29th July 2015)

 Kuala Lumpur is up-scaling its status as a liveable city with a number of infrastructure
projects that will improve the quality of living environment in the capital city, and proof
of its growing popularity as a choice address is seen in the growing number of property
projects being built to cater to the expanding city dwellers and business travellers.

 The capital city’s premier address is undoubtedly still Kuala Lumpur City Centre
(KLCC) given the premium attached to its proximity to the iconic Petronas Twin
Towers, Malaysia’s national landmark, and to the other lifestyle conveniences.

 Development projects that bear the KLCC address command a premium over those
that are located further away in the other fringe areas of Kuala Lumpur.

 Given that there are quite a number of projects coming up around the KLCC area,
developers have to put in extra efforts and creativity to ensure their projects have
unique selling propositions, outstanding amenities, facade and features to stand out
from the rest in the market.

 Tropicana Corp Bhd is building its most ambitious development, Tropicana The
Residences at KLCC (The Residences), on a 1.28-acre plot of freehold land along
Jalan Ampang, Kuala Lumpur.

 Tropicana Corp has engaged the services of international architectural firm, Skidmore,
Owings & Merrill, well-known for its feat in designing international landmarks such as
Dubai’s Burj Khalifa, the tallest building in the world, and New York’s One World Trade
Centre, to up the game for The Residences into another spectacular iconic landmark.

 Scheduled to complete in mid-2017, The Residences will be a frontrunner in the

development of this fast growing segment of luxury and branded residences in the city
centre of Kuala Lumpur.

 The Residences will be anchored by the very first W Kuala Lumpur Hotel in a stunning
55-storey tower, designed by Skidmore, Owings & Merrill that is working together with
Veritas Architects Sdn Bhd in Kuala Lumpur.

 When completed, The Residences will be the highest residential apartments in Kuala
Lumpur, soaring higher than the soon-to-be-completed 48-storey St Regis Hotel and
Residences at KL Sentral.

 The Residences that comprises 353 fully furnished service residences will occupy the
25th to 53rd floors of the 55-storey tower block. The hip and upscale W Kuala Lumpur
Hotel, a luxury hotel chain owned by Starwood Hotels & Resorts Worldwide, will have
 150 rooms on the 8th to 23rd floors. The project will have a gross development value
(GDV) of RM800 million.

 The uniquely designed residences offer four types of swanky layouts with built-up area
ranging from 710 sq ft to 2,973 sq ft.

 Besides the unique facades and architecture design, the softscapes and amenities of
The Residences are just as opulent – a rooftop facility floor that offers the perfect place
to chill out with unobstructed view of Kuala Lumpur’s sprawling and colourful city vista,
saltwater infinity pool, a forest-themed lounge, multi-purpose area on the roof known
as the Gourmet Loft and a first-of-its-kind aqua gym. The Residences will also come
with concierge service where residents will be able to enjoy butler service that will
arrange services that ranges from transport to laundry and dry cleaning.

 The Residences will be managed by Tropicana Corp, a pioneer in resort-style home

concepts with a strong track record in high-end residential and commercial
developments.

 The Residences has been categorised as a green building with resource and energy-
efficient features in daily operations like powering lifts and other utilities.

 The project was launched on March 21 across six countries – Malaysia, Singapore,
Taiwan, China (ChengDu and Shanghai), Indonesia and Hong Kong – at private bars
for specially invited guests. Most of the buyers comprise young professionals and
business owners from Hong Kong and Singapore.

Mah Sing extends RM656.9m Puchong land deal for mixed development to Aug 26
(theedgemarkets.com, 28th July 2015)

 Mah Sing Group Bhd announced today that the group, together with the owner of a
prime leasehold tract in Puchong measuring 88.7 acres, have mutually agreed to give
Mah Sing until Augusy 26 for it to decide if it will proceed with or cancel its RM656.9m
acquisition of the said land.

 Mah Sing had previously announced in August last year that the proposed acquisition —
initially expected to be completed in the second half of this year — was for a mixed
development for which it had estimated would carry a gross development value (GDV) of
RM9.3 billion.

 Under the sales and purchase agreement (SPA) inked with the landowner Huges
Development Sdn Bhd last year, its wholly-owned unit MS Lake City Sdn Bhd was
supposed to confirm this month whether it would proceed with or rescind the SPA, which
has now been extended to August 26.

 Meanwhile, Mah Sing had previously announced that the acquisition would increase the
group's GDV and unbilled sales by approximately 23% to RM50 billion and bring about
earnings visibility for the next eight to 10 years.

 The project has an estimated GDV of RM9.3 billion. Mah Sing has proposed to acquire
the 88.7-acre (35.9-hectare) tract in Puchong for RM656.9 million or RM170 per sq ft
from Huges Development Sdn Bhd.

 Mah Sing was granted a four-year deferred term on the purchase, whereby 10% of the
consideration will be paid upon the signing of the agreement, with the balance 90%
stretched over 48 months.
 Mah Sing said it plans to develop serviced residences, office towers, shop offices, retail
lots, a retail mall and a hotel on the land.

 The development of the project, work on which was expected to begin this year, would
stretch over a period of 10 years.

 Mah Sing had also said then that the units would cater to the mass market and medium-
to high-income households, and that the prices of the serviced residences would start
from RM585,000.

Yong Tai inks MoUs for RM7b GDV projects (The Star, 3rd August 2015)

 Yong Tai Bhd has entered into five MoUs which will provide it with five potential
property development projects with a combined gross development value (GDV) of
approximately RM7 billion over the next eight years.

 On Monday, the company entered into MoUs with PTS Impression Sdn Bhd, Yuten
Development Sdn Bhd, Terrawest Resources Sdn Bhd, Land & Build Sdn Bhd and
Admiral City Sdn Bhd.

 The potential projects comprise tourism and mixed developments at Kota Laksamana,
Malacca, comprising the “Impression Melaka” and “Impression City” projects, an
upmarket and luxury service apartments project at Jalan U-Thant, Kuala Lumpur, a
mixed development project comprising a one tower block of small office versatile office
(SOVO) units and one hotel tower in Puchong, Selangor as well as a mixed
development project comprising retail and SOVO units, hotel and office suites in Johor
Bahru, Johor.

 The MoUs entail the proposed acquisition of the entire equity interest in PTS
Impression, Yuten, Terrawest, and Land & Build.

 PTS Impression is licensed to produce and stage “Impression Melaka”, while Yuten
has a joint-venture to develop 1.2 acres in Jalan U-Thant for a high-end residential
project.

 Terrawest owns 1.5 acres in Puchong slated for a potential mixed development
project, and Lang & Build has the development rights for a 1.77 acre mixed
development project in Johor Baru.

 The MoUs also include the proposed acquisition of 17 acres of seafront land in
Malacca to be developed into a theatre mainly for production of “Impression Melaka”,
as well as a joint development of 100 acres of leasehold land in Malacca, adjacent to
the “Impression Land”.

 The MoUs and proposals are in line with the group’s plans to grow its property
development business segment through land acquisitions.

 Of the five potential projects, development projects in Malacca may potentially

contribute RM6.3 billion worth of GDV, while Klang Valley and Johor Bahru may
potentially contribute RM341 million and RM363 million each.

Jumeirah Group partners with Oxley Malaysia to operate luxury hotel and residence
(theedgeproperty.com, 12th August 2015)
 Global hotel company Jumeirah Group has inked a deal with Oxley Malaysia to
operate a luxury Jumeirah hotel and branded residences at Oxley Malaysia’s
integrated development along Jalan Ampang, Kuala Lumpur.

 Jumeirah Kuala Lumpur Hotel will feature 190 rooms and suites, two restaurants, a
lounge and a bar, as well as a spa, a fitness club and a swimming pool, while its
residence, Jumeirah Living Kuala Lumpur will feature 273 units of residences.

 Jumeirah’s hotel and residences will occupy part of a three-tower project that will come
up on a tract measuring over 135,000 sq ft.

 Construction is expected to start in 2016, and will be completed in 2021.

 Jumeirah Group operates 23 hotels in Europe, the Middle East and Asia, and has 25
upcoming projects in the pipeline. Currently, the group is planning to expand its
operations in Singapore, Thailand and Cambodia.

Desaria makes KLCC debut with The Manor (theedgeproperty.com,22nd August 2015)

 Desaria Group of Companies might not be a big name in the property development
industry, but it is set to make a name for itself with a development in KLCC.

 It plans to launch The Manor which on a 1.5-acre parcel on Persiaran Stonor, Kuala
Lumpur, just next to Etonhouse International School, by the end of this year.

 This RM900 million project will offer large units compared with recently launched
developments in the area that offer unit sizes of between 800 sq ft and 1,200 sq ft.

 The Manor will have 212 condominium units with a built-up area of between 2,426 and
7,356 sq ft. Prices start at RM1,100 per sq ft.

 Desaria Group will engage hospitality service provider Alorie Hotels & Resorts to
manage the property and offer hospitality services at The Manor upon its scheduled
completion in the fourth quarter of 2018. It will operate the concierge and an optional
housekeeping service for residents.

 Desaria Group is eyeing buyers from Asia and Middle East.

Eco World to start work on Bukit Bintang City Centre by Q1 2016 (The Star, 19th
August 2015)

 Eco World Development Group Bhd is expected to start construction of the RM8.7
billion Bukit Bintang City Centre (BBCC) project by the first quarter of 2016, once it has
obtained the development approval from the Kuala Lumpur City Hall.

 The company will prepare the pre-marketing for the launch of the project by year-end.

 The former Pudu jail site has been approved for a mixed residential and commercial
development comprising a retail mall, an entertainment block, strata offices, office
tower, two hotels, and serviced residences and apartments.

 The development period is expected to be about eight to 10 years.

 BBCC Development Sdn Bhd is a special purpose vehicle, jointly set up by Eco World,
Uda Holdings Bhd and the Employees Provident Fund (EPF) for the purpose of
developing the BBCC project.
 Eco World had on February 4, 2015, entered into shareholders' agreement with UDA
Holdings and the EPF to jointly invest and fund BBCC as the vehicle to undertake the
development of the project.

 Separately, Eco World remains confident of achieving its RM3 billion sales target this
year, due to the number of on-going projects in its township developments currently.

3 TRX parcels under negotiations (The Star, 21st August 2015)

 The development of the Tun Razak Exchange (TRX) is on schedule, with negotiations
underway with investors for three more parcels, according to 1MDB Real Estate Sdn
Bhd (1MDB RE).

 On-site progress is the near-completion of RM163 million worth of infrastructure works

with pre-qualification exercise for the second package underway, having started late
last year.

 The total infrastructure cost of the entire 70-acre financial and business district is
estimated to be close to RM3 billion. Work started in 2013.

 So far, the TRX has attracted four investors. They are the Lend Lease group with 17
acres, Lembaga Tabung Haji (LTH) (1.56 acres), Indonesia’s Mulia group (3.4 acres)
and Affin Bank Bhd (1.25 acres).

 Australia-based Lend Lease will be building a mall, a five-star hotel and three
apartment blocks on the 17 acres. LTH will be building a residential tower, while Mulia
and Affin will be building offices. The gross floor area for TRX is 21 million sq ft.

 Ground works for Signature Tower started in July. Other work-in-progress involves the
relocation of the market traders to another site in Pudu this year.

 1MDB RE is the wholly owned subsidiary of 1Malaysia Development Bhd (1MDB).

Developer ropes in foreign partner for development of Damansara project (The Star,
20th August 2015)

 Tan Sri Desmond Lim has once again managed to rope in a strategic foreign partner
for a large-scale development in Kuala Lumpur. The low-profile property baron, who
owns the Pavilion Group of malls, has managed to partner Canada Pension Plan
Investment Board (CPPIB) in a joint venture (JV) for the development of his massive
project in Pusat Bandar Damansara (PBD).

 CPPIB is investing RM485 million for a 49% interest in a JV with the Pavilion Group in
the Pavilion Damansara Heights development.

 The JV with the Canadian pension fund will involve the development of two plots of
land totalling some 15 acres within the PBD area that has a total of 46 acres.
Development of the second phase, which will reportedly comprise commercial,
residential and retail segments, with the added element of public transportation, is
slated to start in the first quarter of next year.

 The first phase of Pavilion Group’s plans for PBD is for a total rejuvenation of the 9.5-
acre site into a commercial and residential hub replete with office towers, private
residences, a hotel, and retail mall.
 PBD used to house nine blocks of office buildings, which are being torn down. In its
place, nine office blocks are being built, with the highest at 20 floors. There are also
several service apartment blocks being built there.

 The office blocks are being sold at RM1,400 per sq ft while the serviced apartments
which are to be sold next year will reportedly be priced from RM1,600 per sq ft.

 The other stakeholders in the PBD area are the Hong Leong group’s Guocoland (M)
Bhd that has 8.5 acres that is nearing completion, while Selangor Properties Bhd has
13 acres.

 Originally, Selangor Properties was the land owner of all the land and had developed
the previous PBD.

Petronas’ Cititower set to take shape (digitaledge Weekly, 14th September 2015)

 State-controlled oil company Petroliam Nasional Bhd’s wholly-owned subsidiary, KLCC

Holdings Sdn Bhd, and its partner Qatari Diar Real Estate Investment Co are
understood to have invited interested parties for a pre-screening process for its RM5
billion project in the city centre, dubbed Cititower.

 The deadline for expression of interest was August 21 and had reportedly attracted a
number of the larger construction players in the country.

 The development is coming up on a 1.6-hectare plot located in the eastern corner of

the Kuala Lumpur City Centre, sandwiched between Suria KLCC and the Asy-Syakirin
mosque, which faces the KLCC Park.

 Cititower Sdn Bhd (formerly known as KLCC Utilities Sdn Bhd) is owned equally by
KLCC Holdings and QD Asia Pacific Ltd — a unit of Qatari Diar Real Estate
Investment, which in turn is a unit of the Qatar Investment Authority (QIA).

 In April this year, Maybank Investment Bank Bhd and CIMB Investment Bank Bhd
inked a deal with Cititower for a 20-year RM3.2 billion syndicated Islamic term loan.

 The development will include the construction of a nine-storey retail podium, a 59-
storey hotel, an 80-storey office tower, a linkway between Suria KLCC and the project,
a ramp in Jalan Ampang and landscape works, among others.

 The project is targeted to kick off in the first quarter of 2016. The piling work has
already begun on the site. Construction basically comprises structural works
(excluding piling works), architectural, mechanical and electrical, façade cladding,
interior fit-out, external works and other associated works.

 The Fairmont, Raffles or Swissotel brands could have a hand in the 59-storey hotel,
considering that the Qatari investment arm and Saudi Arabian prince al-Waleed Talal’s
Kingdom Holdings Co control FRHI Hotels & Resorts.

 However, in June this year, rumours were rife that Prince al-Waleed and the Qataris
had appointed Deutsche Bank and Morgan Stanley to conduct the sale. Collectively,
the two could have as much as 75% equity interest in FRHI.

 The two partners have strong credentials. As at December 31, 2013, KLCC Holdings
registered an after-tax profit of RM776 million on revenue of almost RM3.9 billion. Its
 non-current assets stood at RM20.4 billion and current assets in excess of RM5 billion.
On the other side of the balance sheet, it had long-term borrowings of RM7.7 billion
and short-term debt commitments of RM4.5 billion. Reserves were more than RM7.8
billion.

 KLCC Holdings is the controlling shareholder of KLCC Property Holdings and KLCC
Real Estate Investment Trust with a 64.7% stake.

 KLCC Property Holdings was floated on Bursa Malaysia in August 2004 but in 2013,
the company undertook a corporate restructuring where the group was converted into
a stapled structure known as KLCCP Stapled Group — the existing ordinary shares of
KLCC Property were stapled with the units of KLCC Real Estate Investment Trust. In
May 2013, KLCCP Stapled Securities was listed on Bursa Malaysia under REITs.

 Some of the properties in the group include the 88-storey Petronas Twin Towers, the
58-storey Menara 3 Petronas, the 29-storey Menara ExxonMobil, the 36-storey
Menara Dayabumi, the 49-storey Menara Maxis and the Mandarin Oriental Hotel,
Kuala Lumpur.

 Qatari Diar Real Estate Investment was established by QIA — the sovereign wealth
fund of the state of Qatar — in 2005. As at January 2012, it was capitalised at US$4
billion and had more than 49 projects being developed or in the planning stage in
Qatar and 29 other countries around the world with a combined value of over US$35
billion.

 The Cititower project commenced in January 2012 and is expected to be completed by

mid-2020.

 The property market has softened considerably recently, which would indicate that the
partners could be looking to time their developments in what they see as the next up
cycle of the property market.

 Some developers are taking a cautious stance as a few companies, including Tan Sri
Syed Mokhtar Albukhary’s Tradewinds group and state-controlled unit trust company
Permodalan Nasional Bhd, are looking at building skyscrapers of more than 100
storeys while developments, such as the 70-acre Tun Razak Exchange with a gross
development value of RM40 billion in the heart of Kuala Lumpur, could saturate the
market for commercial properties.
 Recently, some property companies have scaled back launches and revised sales
targets as a result of the challenging market conditions

Tropicana sells Sky Express Hotel for RM55m

By Kamarul Anwar / theedgemarkets.com | January 12, 2016 : 9:36 PM MYT
KUALA LUMPUR (Jan 12): Tropicana Corp Bhd ( Valuation: 3.00, Fundamental: 1.50),
which has been disposing of its assets to trim its gearing since 2014, is selling its Sky
Express Hotel on Jalan Bukit Bintang, Kuala Lumpur, for RM55 million.

 In a filing with Bursa Malaysia today, Tropicana said, apart from paying its bank
borrowings, the sale's net proceeds of about RM24.4 million shall also be used for
working capital purposes.
 "The expected gain from the disposal is approximately RM2.5 million (net of tax
payable)," the property developer added.
 Tropicana said its wholly-owned subsidiary Advent Nexus Sdn Bhd had earlier in the
day signed a sale and purchase agreement with Pinnacle Supreme Sdn Bhd to sell
 the piece of land measuring 1,106 sq m, along with the 10-storey Sky Express Hotel
built on it.
 The original cost of investment for the property was RM54 million, Tropicana said.
The selling price took into consideration the investment cost and the surrounding
properties' prevailing market values.
 After the disposal exercise is completed — anticipated to be sometime in the second
quarter this year — Tropicana said Pinnacle Supreme has the right to use the hotel's
current name for 18 months.
 Tropicana shares today fell by one sen or 1.02% to close at 97.5 each, bringing the
company's market value to RM1.41 billion.

Three new hotels to open in PJ near Federal Highway (digitaledge WEEKLY, 22nd
September 2015)

 The Quill Group of Companies is planning a new single-tower mixed development

comprising office, hotel and retail components in Jalan Utara in Petaling Jaya, near
Menara Axis.

 With another two hotels scheduled to open over the next three to five years within a
0.5km radius of The Hilton Petaling Jaya, this new hotel will possibly double the room
inventory in the locale.

 Quill, whose business ranges from property development to automobiles and retail to
healthcare, recently put in a proposal to develop a parcel at the corner of Jalan Utara
and Jalan 51A/223 that is currently being used as a parking lot.

 The development will reportedly be undertaken by a company called Quill-Stamford

Lot 308 Sdn Bhd. On April 15, 2015, Quill-Stamford submitted building plans to
construct a 25-storey building, of which six floors have been slated for office space,
eight floors for hotel accommodation and two floors for retail. The building will also
offer seven floors of parking above ground and two at the basement level. As at June
10, 2015, conditional approval for the project had been obtained from Majlis
Bandaraya Petaling Jaya.

 Records from the Department of Survey and Mapping Malaysia show that the land
measures 76,996 sq ft.

 Directly across Jalan Utara from this development, Starwood Hotels and Resorts
Worldwide Inc will open its five-star Sheraton brand hotel within a development known
as The Pinnacle. Based on Starwood’s website, The Sheraton Petaling Jaya Hotel will
offer 250 rooms and is scheduled to commence operations on January 1, 2017. Terra
Mirus Sdn Bhd is undertaking the project, which apart from the hotel, will comprise
office and retail components on a 1.73-acre site.

 A third hotel expected to emerge in the vicinity is a project by MRCB’s PJ Sentral

Development Sdn Bhd. This forms part of a RM2 billion gross development value
mixed development project called PJ Sentral Garden City, comprising five office blocks
and one hotel block.

 According to MRCB’s 2014 annual report, Phase 1 of PJ Sentral Garden City,

comprising Lot 8 and Lot 12, is on course for completion by 3Q2016. Lot 12 measures
9.86 acres while Lot 8 measures 2 acres.

 These new hotels will be located near the two other well-known hotels in Petaling
Jaya. The upcoming The Sheraton Petaling Jaya is located just a few steps away from
 the much older, 27-storey Armada Petaling Jaya Hotel with 257 guest rooms. This 19-
year old hotel is owned by Lien Ho Corp Bhd and is located on a 2.44-acre parcel.

 One of the most prominent landmarks in Petaling Jaya is the 31-year old The Hilton
Petaling Jaya. The hotel, owned by Tradewinds Corp Bhd, has 546 rooms. The hotel
was originally the Jaya Puri Hotel and came under Hilton’s management in 1982. The
hotel, which had 398 rooms in 1984, later expanded the number of rooms.

 Two other prominent hotels in the area are the 300-room Crystal Crown Hotel in Jalan
Utara and newly opened 344-room Best Western Petaling Jaya in Centerstage in
Jalan 13/1.

CitiZen@Old Klang Road open for sale next month (The Star, 29th September 2015)
 Contractor/property developer Binastra Land Sdn Bhd plans to make its project,
CitiZen@Old Klang Road, available for sale in the first week of October.

 The freehold project will offer 711 serviced apartments in three blocks on 3.44 acres of
land. The units are available in 2 and 3+1 bedroom types. The 2-bedroom option is
852 sq ft, while the bigger units range in size from 1,092 to 1,133 sq ft.

 Each unit is priced at about RM600 psf, which puts the average price of a 2-bedroom
unit at RM511,200 and 3-bedroom at RM655,200 and RM679,800.

 The whole project will have a gross development value (GDV) of RM488 million. It is
located in Old Klang Road, a stone’s throw away from the Jalan Templer KTM Station
and Sports Arena @ Sentosa (formerly known as Datuk Lee Chong Wei Sports
Arena).

 Binastra Land notes that the prices of the serviced apartments are in line with the
current market and are acceptable to the public. Property agents concur that similar
properties in Old Klang Road are generally selling at about RM600 psf, with prices
rising the closer the units are to Mid Valley City. On the flip side, CitiZen@Old Klang
Road is nearer to Puchong and units there are slightly cheaper.

 The selling price varies at different areas in Old Klang Road, the selling price of
CitiZen@Old Klang Road is slightly above market value. However, as the unit is
smaller, the selling price will be lower too. Properties priced at between RM550,000
and RM580,000 are more sellable.

 CitiZen@Old Klang Road is targeted at single professionals and young couples aged
20 to 40. The developer is also focusing on families from the surrounding matured
neighbourhoods.

 There will be eight units per floor and each floor will be serviced by four lifts and one
cargo lift. The project will have more than 30 facilities, including a community park,
futsal court, mini theatre, picnic area, swimming pool with jacuzzi seat as well as
outdoor and aqua gym. The project has received 2,000 registrants and the developer
expects about 70% of the units to be sold within six months after open for sale.

 The units have a practical layout and they are spacious. They will come with built-in
kitchen cabinets from Signature Kitchen as well as built-in wardrobes. There will also
be water heaters and air conditioners. Even though, this project is under commercial
land title, the developer doesn’t want to have a retail component for better security.
 As part of the project, the company will improve the access road next to the
development and build a crossing over the monsoon drain to link it to Jalan Seri
Sentosa 2A as an alternative access. The cost of the work has yet to be determined.

 The company’s next launch after CitiZen@Old Klang Road will be a mixed
development in Jalan Sungai Besi, Kuala Lumpur. Scheduled to launch by the end of
next year, this development will be known as ION with a GDV of RM1.2 billion. It will
have hotel, apartment, office and retail components on a 4.75-acre freehold parcel that
Binastra Land recently purchased from Renown Heritage Sdn Bhd. Renown Heritage,
a company equally owned by Eastern & Oriental Bhd and Singapore’s Wearne
Brothers Properties Pte Ltd, sold the land to Binastra Land for RM96 million or RM541
psf on June 12.

 The land, which was acquired by Renown Heritage in 1995, is currently rented out to
Volkswagen dealer Wearnes Automotive. It is located opposite the old Sungei Besi
Royal Malaysian Air Force Base that is slated for the Bandar Malaysia development.

 The parcel is just less than a 10-minute drive from mixed development Sunway
Velocity in Cheras and international financial and economic hub Tun Razak Exchange
in Kuala Lumpur.

ID for YOO8 blends luxury with an Asian touch (City & Country, The Edge Malaysia,
28th September 2015)

 The Kuala Lumpur City Centre will welcome a new landmark, 8 Conlay, in 2020. An
integrated development by KSK Land Sdn Bhd, a wholly owned subsidiary of KSK
Group Bhd, this will be the group‘s first project.

 Coming up on four acres of freehold land in Jalan Conlay, 8 Conlay will have a gross
development value (GDV) of RM4 billion and comprise two residential towners, named
YOO8 Serviced by Kempinski, a hotel and a 5-storey retail podium. The 62 and 57-
storey towers will offer a total of 1,062 units with built-ups ranging from 682 sq ft to
1,295 sq ft. Estimated selling prices will start from RM2,700 per sq ft.

 8 Conlay will be a modern and liveable development where residents and visitors can
enjoy serenity within the city.

 YOO8 Serviced by Kempinski, at an average price RM2,700 per sq ft, is competitively

priced compared with similar branded residents around the world. Malaysia‘s property
prices are still among the lowest compared with its neighbours in Southeast Asia

 Potential buyers for 8 Conlay would be high-net-worth individuals who are likely to
choose branded residences as they provide convenience and top quality service.

 Branded residences offer superior quality and international standards over other regular
residences. They also offer all the benefits associated with a hotel but with the added
advantage of exclusivity and discretion. These facilities will be structured to cater to
every whim and fancy a resident has at any time, for example, services on demand.

 Unlike typical residences, branded residences more commonly fall in the hotel-
residential market and as such, are a different asset class together. Thus, they offer
potential investors a different type of assets that does no mimic the trends of the
residential market.
 Branded residences are more stable assets that are able to resist typical market
fluctuations given their specialised nature.

 A related trend that is gaining traction is integrated development featuring branded

residences, commercial and retail elements. Together, they offer residents a
wholesome living experience with all requirements at their doorstep.

Eco World gets all clear for RM8 bil Bukit Bintang City Centre project
(theedgemarkets.com, 1st October 2015)

 According to property developer, Eco World Development Group Bhd (Eco World), all
the conditions precedent (CP) set out in its agreements in relation to its joint
development of the RM8 billion Bukit Bintang City Centre project at the former Pudu Jail
site have been met.

 As such, its subscription and shareholders agreement (SSA) with Uda Holdings Bhd
(UDA), the Employees Provident Fund (EPF) and BBCC Development Sdn Bhd that was
entered into on February 4 — whereby Eco World, UDA and EPF agree to invest and
fund BBCC as the vehicle to undertake the proposed joint development — has become
unconditional.

 Under the SSA, UDA and Eco World will each own a 40% stake in BBCC, with the
remaining 20% held by EPF.

 Similarly, the joint-development agreement (JDA) inked between BBCC and UDA that
same day to jointly develop the 19.4-acre land into a mixed residential and commercial
development has also become unconditional.

 Pursuant to the JDA, UDA, as the landowner, granted BBCC full and unfettered rights to
carry out the development for a total consideration of RM1.01 million.

 Among the CP set out in the SSA were: EPF would be satisfied with the results of the
due diligence exercise, and the receipt of relevant shareholders' approval in relation to
the terms of the agreements.

 Under the JDA, among the CP were that all CP under the SSA have been fulfilled,
relevant approval from authorities for the re-zoning of the land from 'institutional' to
'mixed use commercial' being obtained, together with the planning approval in principle
for the development.

 The project will have a mix of residential and commercial development comprising a
retail mall, an entertainment block, strata offices, office towers, a hotel and serviced
residences.

I-Berhad’s unit inks hotel management agreement with Hilton Worldwide

(theedgemarkets.com, 29th September 2015)
 I-Bhd‘s wholly-owned subsidiary City Centrepoint Sdn Bhd (CCSB) has entered into a
management agreement with Hilton Worldwide Manage Ltd to appoint the latter to
manage the operation of the 300-room DoubleTree by Hilton Hotel that will be developed
in i-City, Shah Alam, Selangor.

 Under the management agreement, Hilton Worldwide and/or its affiliates shall provide
development and management services of the operation of the hotel. The operating term
under the agreement shall commence on the opening date and expire, subject to any
 extension at midnight on the expiration date, December 31 of the 20th full calendar year,
following the commencement of the operating term.

 I R&D Sdn Bhd, a fellow subsidiary of City Centrepoint, had earlier signed a Letter of
Understanding in relation to the hotel with Hilton Worldwide on December 9, 2014; and
on July 20 this year, had mutually extended the terms of the letter to September 30,
2015 to enable the parties to further their discussions on the transaction, as well as the
definitive management agreement proposed to be entered into.

 The agreement will provide CCSB an opportunity to leverage on the Hilton Worldwide‘s
experience and expertise in providing hotel management and development services.

 The hotel, to be developed within the RM5 billion i-City township, is expected to see an
investment cost of about RM250 million, to be funded mainly from I-Bhd‘s internally-
generated funds, and is expected to be completed by December 1, 2021.

Branded residences with a real difference (The Star, 2nd September 2015)
 When you buy into a branded residence, you are also subscribing to the developer’s
definition of luxury, which is often brought to fruition through the designer’s philosophy
and sensibilities.
 The concept of branded residences is not new in Malaysia. So, what was KSK Land’s
approach for its branded project 8 Conlay, which comprises two towers of luxury
serviced apartments, a nine-storey niche retail podium and the five-star Kempinski
Hotel?
 KSK Land formed a formidable group of creative extraordinaire to push boundaries
and deliver solutions that add real value to a global consumer’s lifestyle.
 The on-site show gallery for its first residential tower (Tower A) will open its doors on
October 8. The residential towers are named YOO 8, serviced by Kempinski.
 The interior design is created under the brand, Steve Leung & YOO, two revered
names in the design world.
 Tower A of YOO 8 highlights the essence of nature as reflected in the Eastern Chinese
philosophy that incorporates the elements of fire, wood, metal, water and earth. The
focus for Tower A would be on two elements; “water” (represents purity, fluidity and
calmness) and “wood” (represents harmony and warmth). “Water” showcases lighter
hues, while “wood” delivers more contrast. The apartments also feature other
elements, such as brass and copper (“metal”), which lend a beautiful touch of refined
elegance.
 There are 564 branded residences in Tower A, with built-up sizes ranging from 682 sq
ft to 1,295 sq ft. They are standardised in certain ways. All apartments feature an
open-plan layout where the kitchen, dining and living areas breathe quality liveability.
The outdoor area is also seen as an extension of the living room. Meanwhile, the
bathrooms will feature different types of marble.

UDA to redevelop Kompleks Niaga Utama in Bangsar (theedgemarkets.com, 3rd

September 2015)

 UDA Holdings Bhd intends to redevelop Kompleks Niaga Utama (KNU) situated in
Bangsar into a fully furnished serviced apartment, with a gross development value
(GDV) of more than RM250 million.

 UDA has given a three-month notice (before initiating the project) to all 14 traders that
are currently operating in KNU to be relocated to Pudu Sentral and Pertama Complex.
The redevelopment is expected to be completed by 2019.
 The redevelopment project by UDA is timely, as maintenance costs for KNU is high.
The land is worth around RM35 million.

 The new redevelopment will be an iconic residential landmark, with surrounding

neighbourhoods and immediate vicinities comprising Grade A offices, high-end
residential, a five-star hotel, a mega mall, and retail shopping complexes, coupled with
vibrant night life and entertainment avenues.

 Due to its location, the proposed apartment units will enjoy magnificent views towards
Kuala Lumpur skyline to the east and Bukit Bandaraya to the north.

 This redevelopment is the second residential tower that UDA will develop in Bangsar.
The first was in 2008, which called “Gaya Bangsar”.

 Gaya Bangsar, comprising 285 residential units, is located next to Dataran Maybank.
Circa 95% of the project was sold within a week of its pre-launch. The units ranging
from 671 sq ft to 1,610 sq ft in size are priced between RM350,000 and RM900,000
each.

 UDA achieved more than the Bumiputera sales quota of 40% for Gaya Bangsar, with
majority of units taken up by locals, while 10% of units were bought by expatriates.

Survey: Steady occupancy rates for upscale hotels in KL (The Star, 31st August 2015)
 Upscale hotels in Kuala Lumpur and its surrounding areas continue to see steady
occupancy rates, despite a slight increase in average room prices, according to a
property survey.
 With the weaker ringgit seen as a welcome boost for the tourism industry, hotels in the
city are expected to continue to attract new investments.
 With the extensive new supply of branded residence market, more new hotel entrants
are expected.
 Room rates still have room to grow as Kuala Lumpur is relatively low compared with
neighbouring countries.
 An estimated 27.44 million international tourists visited Malaysia during Visit Malaysia
Year (VMY) 2014, up 6% compared with 2013.
 There was a slight drop on mainland Chinese tourist arrivals subsequent to the MH
accidents.
 In the second half of 2014, occupancy remained at 70% and average room rate was
RM267, up 4% compared with previous review period. This is mainly driven by
increasing tourist arrivals after numerous promotional activities by Tourism Malaysia in
VMY 2014.
 Upscale hotels remained stable and outperformed except for three-star hotels dropped
to 61%, likely affected by the decline in mainland Chinese visitors.
 Average room rate increased 4% to RM267. Market observed marginal growth in room
rate for most hotels due to increasing operation costs.
 The hotel supply in the Klang Valley comprises 167 hotels (48,047 rooms) in 2014, up
6.2% compared with 2013.
 Up to 2018, there are 15 new hotel developments including 12 five-star hotels. The
developments include St Regis, Harrods, Four Season Place and Fairmont Hotel.
 Fairmont Kuala Lumpur is expected to open in 2017 with 750 rooms.
 Moving into 2015, the weakening of Malaysian currency made the country appealing
as a low-cost travel destination, which will spur the demand of hotel rooms.

‘Academic’ township for KL South (The Star, 9th October 2015)

 Protasco Bhd has revealed its plans for a new township called De Centrum City in
Kuala Lumpur’s growing southern corridor close to a few institution of higher
education.

 The new township is possibly the first in the country to be built around an existing
academic institution. With an estimated gross development value (GDV) of RM10
billion, the new township will be rolled out in stages over 15 years.

 The 40.5-hectare freehold tract of land where the township will be built is currently the
site for De Centrum Sales Gallery and Infrastructure University Kuala Lumpur (IUKL).

 As an integrated township development, De Centrum City will offer residential units,

shop offices, small offices/home offices (SOHO), office suites, retail lots, hotels, an
academic precinct as well as a convention and recreation centre, among others.

 Phase one of the development will comprise a shopping centre block with 29 retail
units, a serviced apartment block with 320 units, a SoHo block with 192 units, and 54
shop lots. These will be handed over to purchasers in December.

 There will also be four blocks of condominiums within De Centrum City. Two towers (A
and B) of De Centrum Unipark have been completed while the remaining two blocks
(C and D) will be completed by 2017.

 Upon completion, De Centrum Unipark will offer 640 condominium units.

 Also encouraging is a premium residential development conceptualised as Rimbawan

Residences @ De Centrum. It offers 504 high-rise condominium units and 13
exclusive villas.

 The new township is strategically located in an area dubbed Kuala Lumpur South,
almost midway between Kuala Lumpur city and the KL International Airport (KLIA). De
Centrum City can be accessed in approximately 30 minutes from downtown Kuala
Lumpur, about 30 minutes from KLIA and 15 minutes from either Putrajaya or Kajang.

 Most of the existing structures within the land will be demolished to make way for new
ones.

 The existing university campus will also be upgraded with green features added from a
network of elevated bridges with public parks and water features to sheltered
pedestrian walkways and bicycle paths.

 A shuttle bus service will be implemented to link commuters between De Centrum City
to the Kajang MRT station, scheduled to be operational by July 2017.

 De Centrum City is expected to be a dynamic catalyst for growth for the Kuala Lumpur
South corridor by providing investment opportunities and creating new jobs.

 The new township will cater to the existing population of 500,000 located within a 20-
minute radius, which is projected to grow exponentially within the next 10 years.

Harrods Hotel deal is off (The Star, 15th October 2015)

 The Harrods Hotel in Kuala Lumpur, planned as one of three in the world, has been
scrapped. However, the other components that make up the mixed integrated
development will go ahead as planned.

 It is uncertain why Harrods Hotel was scrapped but sources said the Qataris have
decided not to go ahead with their initial plan to locate their first Harrods Hotel in
Malaysia, which was announced in 2012. The other planned locations of the “seven-
star hotel” are in London and Italy.

 Harrods Hotel makes up a small component of the entire project. Those involved have
reportedly been told to “look out” for another international brand of considerable
standing to fill the space.

 Harrods Hotel was to be located on a 5.48-acre site to be known as Harrods Square,

where Chulan Square and Sri Melayu restaurant formerly used to be. With the change
in plans, the project is expected to be renamed.

 Estimated to have a gross development value (GDV) of RM5.5 billion, Harrods Square
is located on two pieces of land, sandwiched between Jalan Raja Chulan and Jalan
Conlay in the city.

 The three largest parties for the development of Harrods Square include Qatar Holding
LLC, Tan Sri Desmond Lim Siew Choon and Tradewinds Corp Bhd.

 Qatar Holding LLC is a global investment house established by the Qatar Investment
Authority (QIA). QIA also has stakes in Qatar’s biggest lender, Qatar National Bank
(QNB). In September. QNB has halted talks with Kuwait Finance House (KFH) to buy
its Malaysian unit.

 The Harrods Square project fronts Lim’s KL Pavilion mall, which is under Pavilion Real
Estate Investment Trust (REIT). Malton built KL Pavilion integrated development which
comprises the mall, offices and serviced residences. The mall was subsequently put
into Pavilion REIT.

 The Tradewinds group is redeveloping the site of Crowne Plaza Mutiara Hotel,
formerly KL Hilton, which is a stone’s throw away from KL Pavilion and the-then
Harrods Square. The group also owns Istana Hotel. Initial plans years ago was to have
some sort of underground connectivity to connect the-then Bukit Bintang Plaza to
Istana Hotel to other landmarks in the area, even as the underground mass rapid
transit (MRT) station was being planned and built.

 There was also plan to build a pedestrian bridge to connect KL Pavilion to Harrods
Square. The strategy was to extend the vibrancy of the Jalan Bukit Bintang-KL Pavilion

 barea over to the Jalan Conlay stretch with a pedestrian link bridge.

 As for Harrods Square, the game plan then was to set up a joint-venture (JV) company
known as Jerantas Sdn Bhd. PS Trading Sdn Bhd, a unit of Tradewinds Corp, was to
have a 34% stake in Jerantas, while the remaining 66% was to be held by Gagasan
Simfoni Sdn Bhd, with Lim and Qatar Holding having equal share. It is now uncertain if
the Qataris will continue to have a stake in Jerantas.

 Tradewinds holds the Harrods retail franchise in Malaysia, while Qatar Holding owns
the rights to the Harrods brand. Tradewinds, a diversified conglomerate with some
4,000 acres across Malaysia, has made known its aim to go big in the property sector.
 Lim’s role was to make another winner out of Harrods Square, with his keen eye on
retail details and marketing skills and to stitch the financial backers together.

 The components comprise four blocks, of which the 102-room Harrods Hotel was to
have occupied a 27-storey block, with 60 units of serviced apartments. Two of them, a
61 and a 52-storey building, will have a total of about 1,000 units of serviced
apartments and commercial retail space and a 31-storey office block.

 Separately, Lim seems to be accumulating malls. Recently, Pavilion REIT proposed to

acquire from Global Oriental Bhd the Subang Jaya mall for RM488 million cash.
Pavilion REIT has also reportedly bought the retail mall at The Intermark from the
world’s largest asset manager BlackRock Inc a few months ago. Although The
Intermark Mall is only about 200,000 sq ft, it is “an integral part of that development”.

 BlackRock owns the mixed integrated Intermark development, which comprises of two
office blocks, a hotel and the mall. It had tried to sell it as a single entity, but after
about a year, it had to break up the different components because of the hefty price at
about RM2.2 billion.

 The Retirement Fund Inc, or Kumpulan Wang Amanah Pekerja, subsequently bought
Integra Tower for RM1.065 billion in April this year, purportedly with an annual yield of
6%. In the same month, Singapore’s Royal Group bought the 540-room, four-star
DoubleTree Hotel for RM388 million, or about RM700,000 per room.

 Besides the USJ mall and the Intermark Mall, Lim will also be developing Bukit Jalil
City and Pusat Bandar Damansara, both of which are expected to have malls as part
of the integrated development.

SIC: RFP for mixed project next year (New Straits Times, 15th October 2015)

 Sepang International Circuit Sdn Bhd (SIC) will call for proposals from property players
and investors keen to help it develop a RM7 billion integrated mixed development
project around the Formula 1 (F1) circuit in Sepang next year.

 The company expects to commence with the request for proposal (RFP) in the first
quarter of next year, upon which a selection process would be undertaken to identify
and select the partners.

 SIC is negotiating with several parties on the possibility of jointly developing the multi-
billion project on a 200-hectare site currently planted with oil palm and is being used
for parking during major events. The company is planning a mixed development
comprising residential units, commercial properties, a hotel and convention centre with
a potential gross development cost (GDC) of RM3.5 billion.

 The integrated development, which will also feature educational centres as well as
amusement and commercial parks, is expected to be completed in phases over the
next 10 years. SIC is looking at transforming it into an integrated edutaiment centre.

 Meanwhile, SIC is looking to have a four-star hotel with 200 to 250 rooms for the hotel
development. The company has held preliminary talks with hotel operator Accor Hotels
Group to operate and manage the hotel. Le Meridien under the Starwood Hotel Group
has also expressed its interest in operating and managing the hotel.
 The top developers in Malaysia include Eco World Development Group Bhd, IJM Land
Bhd, IOI Properties Group Bhd, Mah Sing Group Bhd, Perbadanan Kemajuan Negeri
Selangor, Sime Darby Property Bhd, SP Setia Bhd, Sunway Bhd, Tropicana
Corporation Bhd and United Malayan Land Bhd.

KIP Group ventures into the hospitality business with its first hotel in Sri Utara (The
Star, 12th October 2015)

 Property developer KIP Group has expanded into the hospitality segment with the
opening of its first KIP Hotel in Jalan Kuching, Kuala Lumpur.

 The KIP Group has been actively involved in property development and retail
management with its KIP Mart chain.

 Situated in the commercial district of Sri Utara in Jalan Kuching, KIP Hotel KL is just 15
minutes’ drive to the city centre.

 The hotel is managed by the Lexis Group of Hotels and Resorts and boasts 199
rooms, including 12 executive rooms and three suites. All rooms are equipped with a
selection of amenities, LED screen TVs and complimentary Wi-Fi.

 Facilities at the hotel include four function rooms, a 1,969 sq ft banquet hall space, an
infinity pool, a sky bar and a gym.

 The hotel will be officially launched in mid-November.

 Plans are already afoot for subsequent KIP hotels to be established at strategic
locations within Malaysia, with the next two being in Sepang and Malacca.

Banking on the Kempinski factor (The Star, 24th October 2015)

 New property player KSK Land Sdn Bhd is looking to take luxury living to the next level
with maiden venture 8 Conlay – the upcoming branded residential, retail and hotel
development that owes its name to its auspicious address in Kuala Lumpur’s Golden
Triangle.

 KSK Land has roped in Europe’s oldest luxury hotelier Kempinski Hotels SA, which will
operate and service all three components of 8 Conlay, marking the latter’s foray into
the Malaysian market.

 Kempinski, headquartered in Geneva and established in 1897 in historic Berlin, is

known for its rich heritage of impeccable personal service and superb hospitality,
complemented by the individuality of its properties.

 Project 8 Conlay comprises two branded residential towers of 62-storey (Tower A) and
57-storey (Tower B) linked by two sky bridges. Both will be serviced by Kempinski.

 There is another 68-storey tower comprising a five-star hotel, Kempinski Hotel, and a
nine-storey retail podium.

 Tower A, marketed as YOO8 Serviced By Kempinski, is set to be launched this

November with prices ranging from a higher bracket of RM2,700 per sq ft.
 The project, which sits on 3.952 acres bought for RM568 million two years ago, is
slated to be completed by 2020. The entire development has a gross development
value (GDV) of RM4 billion.

 Kempinski, which manages a portfolio of 76 five-star hotels worldwide, is not new to

this part of the region. It has hotels in China, Bangkok and Jakarta and several more
are in various stages of development, including in Bali and Phuket.

 Besides Kempinski, KSK Land Sdn Bhd has also assembled an international A-list of
architectural, interior and landscape design talents to realise the 8 Conlay dream.
Marketing-wise, it is aiming for the global market, targeting half foreigners and half
locals.

Developer’s project in USJ integrates commercial and lifestyle factors (The Star, 20th
October 2015)
 MCT Berhad’s One City project, on the last parcel of commercial land in USJ, Subang
Jaya, measuring 31 hectares is located within a mature 30-year-old neighbourhood.

 Certified with MSC Malaysia status, the integrated three-phase project has a gross
development value (GDV) of RM5 billion.

 Linked to major highways such as Damansara-Puchong Highway (LDP), Elite

Highway, New Klang Valley Expressway (NKVE) and South Klang Valley Expressway
(SKVE), travelling to the city centre as well as Petaling Jaya, Putrajaya and Cyberjaya
would take about 25 minutes.

 With an upcoming LRT station located just 300m away, the extension train services
from the Kelana Jaya Line are set to provide convenience within the community.

 The development, which is well into its third phase, prides itself on creating a living
condition that integrates commercial and lifestyle conveniences.

 Phase three spans 8.09 hectresa of One City, and is located adjacent to Phases one
and two. It consists of three corporate tower blocks, a hotel with 954 rooms, one
SOFO block, one SOHO block and a mega mall measuring 1.5 million sq ft.

 A total of RM40 million will be invested to build road linkages between the first and
second phases to the third phase. The third phase will provide sufficient parking
space, with up to 9,000 bays available.

 While the other components of phase three are in the pipeline, the SOFO tower, called
the REO Suite, has been released for sale.

 REO Suite comprises 1,115 studio and two-room units, with built-up areas ranging
from 370 sq ft to 609 sq ft. Equipped with two sky-high levels of leisure facilities at 46th
and 47th floor, the tower features units designed in modern yet practical layouts that
accommodate to today’s lifestyle.

 The units, priced between RM352,000 to RM602,550, are set to be completed together
with the other components in the second quarter of 2020.

Forces of attraction (The Star, 26th October 2015)

 Gravit8, an up-and-coming development by Mitraland Group Sdn Bhd, looks poised to
change the landscape of Klang South, encompassing all aspects of life – from living to
entertainment, working to playing.

 One of the biggest attractions of the contemporary maritime-themed concepts project

will be the massive aquarium that stands tall in the centre of the retail mall, acting as
both a focal point and great educational subject.

 With a total gross development value (GDV) of approximately RM1.3 billion, Gravit8 is
a mixed development comprising service apartments, SoHos, hotel, retail outlets,
shopping mall, corporate offices as well as a proposed medical centre next door to the
development, allowing it to be completely self-sustaining.

 In the heart of Gravit8 is the splendid eight-acre lake, which will not only be a visually
impactful icon, but also the perfect social gathering point for people from all walks of
life. A massive aquarium will be placed in the two-storey Pier 8 retail mall, serving as
the main attraction.

 The two-storey retail mall boasts clean contemporary designs and will house the first-
of-its-kind seafood and local delicacies haven in keeping with the maritime theme.

 There will be a three-acre green deck on the podium of the serviced apartments where
the full clubhouse facilities are to be housed. Facilities will include swimming pool,
multifunction hall, a gymnasium and mini- library.

 The first phase of the development saw 22 units of three- to five-storey shops
launched, while Phase 2A consists of the residential aspect: two 32-storey
towers housing the serviced apartment units.

 The towers, named “Nordica” and “Adria”, offer units with built-up areas ranging from
600 sq ft to 1,000 sq ft, priced below RM500,000.

 The 15-acre freehold development is strategically located in Kota Bayuemas, circa one
km away from the proposed Johan Setia LRT station, in addition to being next to the
Shah Alam Expressway (Kesas).

MRCB and Cyberview sign deal to develop Cyberjaya City Centre

(theedgeproperty.com, 28th October 2015)

 Malaysian Resources Corporation Berhad (MRCB)’s property arm, MRCB Land and
Cyberview Sdn Bhd (Cyberview) has signed a 60:40 joint-venture agreement for the
development of Cyberjaya City Centre (CCC) today.

 The project sits on a 140-acre freehold land parcel and has an estimated gross
development value (GDV) of RM8 to 10 billion. CCC will be developed over the next
15 to 20 years.

 The project’s first phase will comprise a 150,000 to 200,000 sq ft convention centre for
firms in technology-related businesses, a 300 to 400-room business hotel, retail lots
and offices.

 The construction of the offices will be adjusted in tandem with market needs and
economic trends while the retail centre will comprise mostly food and beverages lots to
cater for the hotel and the convention centre.
 The second phase of the project will span 53.38 acres, construction of which begins in
the first half of next year. It has a GDV of RM5.35 billion.

 Residences will be constructed during the [project’s] later phases, and will comprise
lower-medium, medium and high-end products. There will be affordable housing
development as well, as part of the statutory requirement.

 With the future MRT line and various connectivity options such as the Maju
Expressway that cuts the commute from KLCC to Cyberjaya to 25 minutes, this will be
a game changer for the city (Cyberjaya).

 To date, Cyberjaya has a population of circa 80,000 and this is expected to grow close
to 100,000 by the end of 2016.
 Currently, 60% of available land in Cyberjaya has been developed.

Public rail transport to boost Sunway Velocity (The Star, 7th November 2015)

 According to Sunway Bhd, sales of the Signature retail shop offices started about two
weeks ago at Sunway’s integrated Cheras project with overall outcome expected to be
fairly brisk despite the weak property sector due to two MRT stations.

 Comprising 64 units, this second phase is scheduled to be completed in 2019.

Intermediate office lots are priced at about RM900 per sq ft while the retail lots located
at ground, level 1 and 2 are priced between RM1,150 and RM1,900 per sq ft.

 The first block of the eight-storey Signature offices comprises 80 units and is
scheduled to be completed in 2018.

 The retail offices are located near the Cochrane MRT station which is currently under
construction while the mall at the opposite end is near the Maluri MRT station. Both
stations are about 100m from the development.

 Known as Sunway Velocity, the entire 23-acre project comprises a mall, residential
blocks, a hospital, a hotel and retail offices.

 When completed, the shopping mall, the medical centre and the hotel will be retained
by the Sunway group. These components will comprise 47% of the total gross
development value (GDV) totalling RM4 billion. The gross floor area for Sunway
Velocity is 5.1 million sq ft.

 Of this, RM1.1 billion of the GDV has been sold with sales and purchase agreements
formally signed. The project was first launched in 2011. A residential portion
comprising 264 units was completed in December 2014 and handed over to buyers.
Some retail and office units totalling 124 units have also been completed in September
2014.

 Besides the Signature offices, the developer is also offering residential suites totalling
745 units over two blocks. The initial block with 334 units were launched in November
2013. It is currently 95% sold. The second block with 411 units was launched in
October last year. It is about 60% sold. The two blocks are expected to be handed
over in 2017 and 2018 respectively.
 This residential portion and the Signature retail offices are separated by a 2-acre park.
A 700m long and 16m wide walkway deck links all the components within the 23 acres
and to the two MRT stations.

 The hotel is scheduled to open in 2017 and the hospital a year later.

 The project will be facing a huge competitor in the form of MyTown, another sizeable
development of about 18 acres less than 500m away. Ikea will be setting up its second
store there. MyTown will have about 460 retail outlets across five levels including an
underground level.

 Both developments are expected to change the entire landscape and skyline in that
area.

KSK Land’s 8 Conlay to launch first residence tower on Nov 18 (theedgeproperty.com,

14th November 2015)

 Developer KSK Land Sdn Bhd will be launching the first residential tower of its much-
anticipated integrated project, 8 Conlay, in Kuala Lumpur on Nov ember18.

 There are three components to the whole development – two branded residences
known as YOO8 serviced by Kempinski, a hotel tower (hotel units and strata hotel
suites) and a podium comprising retail space, car park and a banquet hall.

 The first tower has 564 units with built-ups of between 700 sq ft and 1,308 sq ft. The
indicative average price is RM2,700 per sq ft.

 8 Conlay, the first property project by KSK Land, has a gross development value
(GDV) of RM4.5 billion.

 The developer signed a management agreement with Europe’s oldest luxury hotel
group Kempinski Hotels in November last year.

 Located on 8 Jalan Conlay in the heart of the Golden Triangle and a few minutes’ walk
from the Bukit Bintang shopping district and Pavilion Kuala Lumpur mall, the
development is only a five-minute drive from the Tun Razak Exchange (TRX).

 KSK Land acquired the land in Jalan Conlay from Suasana Simfoni Sdn Bhd in
2Q2013 for a cash consideration of RM568 million. The developer is focusing on
branded property with high-rise residential and mixed-use commercial developments
across the Klang Valley and Penang.

KSK ups price of Jalan Conlay project to RM3,200 per sq ft (The Star, 18th November
2015)
 KSK Group Bhd has increased the gross development value (GDV) of its integrated
project at Jalan Conlay, in KL city to RM5.4 billion from RM4.5 billion, raising its price
per sq ft from RM2,700 to RM3,200 due to "strong interest".

 Current buyers demand homes that truly reflect their lifestyles.

 The four-acre project comprises two serviced apartment blocks, a Kempinski-operated

and managed six-star hotel and an 180,000 sq ft retail mall which will be integral to the
overall development.
 The launch of its first block of serviced apartments, via KSK Land Sdn Bhd, has
created a bit of excitement in the current slow market.

Multibillion 8 Conlay project in Kuala Lumpur sees 70% booking rate for first
residential tower (theedgeproperty.com, 18th November 2015)

 About 70% of the first residential tower of 8 Conlay, comprising 564 serviced
apartment units has been booked.

 8 Conlay comprises two residential towers called YOO8 and a hotel, all three of which
will be serviced by Kempinski Hotels. Its target market is high net worth individuals and
young professionals.

 The units in Tower A have typical built-up area of between 700 sq ft and 1,308 sq ft
and are priced at an average RM3,200 per sq ft.

 Tower A is fully fitted and complete with interior design by Hong Kong designer Steve
Leung and the design collective YOO. The buildings are the work of RSP Architects,
headed by Hud Bakar, while landscaping is being undertaken by Bangkok-based
TROP.

 8 Conlay is touted as “a one-of-a-kind development that redefines urban living through

three main elements: liveable architecture, world-class design and bespoke
personalised services".

 KSK Land aims to launch second YOO8 residential tower of 468 units in the first half of
next year.

 Residents will enjoy concierge, housekeeping and valet services, and facilities that
include private decks, gardens, a jogging track, swimming pools, private gym and a
rooftop sky lounge and bar.

 In addition to the YOO8 residential towers, 8 Conlay will comprise the hotel
(approximately 260 rooms), and a nine-storey podium consisting of a four-storey retail
space, a five-storey car park and a banquet hall.

 8 Conlay will be built on a 3.95-acre site and has an estimated gross development
value (GDV) of RM5.4 billion. The parcel was acquired by KSK Land in 2013, and the
contract with Kempinski was finalised in November 2014.

 Kempinski Hotels is looking forward to a fruitful partnership with KSK Land and has
expressed optimism on the prospects for “Southeast Asia in general, and in Malaysia
and Kuala Lumpur in particular.

 KSK Land is the property arm of the general insurance business company KSK Group
Bhd. Kempinski Hotels was founded in 1897 and has a portfolio of 78 five-star hotels in
33 countries, while YOO has designed residential and hotel projects in more than 30
countries.

Sime Darby seeks buyer for Melaka hotel (The Edge Malaysia, 8th December 2015)

 Sime Darby Bhd is making a second attempt in six years at disposing of its hospitality
asset Hotel Equatorial Melaka for an estimated RM180 million, which would also
involve assuming the hotel’s debt.
 It is learnt that several interested parties have viewed the 18-year-old, 496-room hotel,
which is located in Bandar Hilir Melaka, not far from the popular historical sites of
A’Famosa and The Stadthuys.

 The asking price for the leasehold asset is around RM180 million, of which RM100
million is for the property and the remaining RM80 million to assume the debt of
Syarikat Malacca Straits Inn Sdn Bhd, which owns the hotel.

 Sime Darby holds the majority stake in Syarikat Malacca Straits Inn through wholly
owned Sime Darby Property. Sime Darby Property’s stake in Syarikat Malacca Straits
Inn is 61.15%, Perbadanan Melaka Holdings, which is wholly owned by Perbadanan
Kemajuan Negeri Melaka, holds 22.17% equity interest in the asset while Hotel
Equatorial (M) Sdn Bhd has 16.67%.

 The largest shareholder of Hotel Equatorial (M) is Twintrees Hotels Sdn Bhd. Hotel
Equatorial (M) is rebuilding Hotel Equatorial Kuala Lumpur in Jalan Sultan Ismail, next
to the Kenanga International building. The hotel is making way for Equatorial Plaza,
which will comprise a 52-storey block with a podium, office tower and hotel, and is
expected to be ready in three years.

 In Sime Darby’s annual report for its financial year ended June 30, 2015 (FY2015), the
net book value of the 22-storey Hotel Equatorial Melaka stands at RM81.4 million and
the lease on the property expires between 2072 and 2075.

 Syarikat Malacca Straits Inn’s revenue in FY2014 dropped to RM42.66 million from
RM44.17 million in the previous year. Net profit, however, was higher at RM7.09
million compared with RM6.94 million. Since FY2010, the highest net profit achieved
by Hotel Equatorial Melaka was RM12.59 million in FY2012.

 Total liabilities in FY2014 stood at RM85.19 million, of which RM10.36 million’s worth
were current, while accumulated losses amounted to RM20.36 million.

 Hotel Equatorial Melaka, built as a five-star hotel has lost some of its edge over the
years. In addition to the purchase price, the new owner will have to spend another
RM25 million to RM50 million on refurbishment to upgrade the hotel’s facilities in order
to maintain its five-star status.

 Other than the hotel in Melaka, Sime Darby’s hospitality properties include Harvard
Golf & Country Club and Hotel in Kedah, Darby Park Executive Suites in Singapore
and Karri Valley Resort in Western Australia.

 Its hospitality involvement is also through its 21.8% stake, as at August 6, in Eastern &
Oriental Bhd. E&O owns and operates the E&O Hotel and Lone Pine Hotel in Penang.

8 Conlay makes auspicious grand entrance (The Star, 21st December 2015)

 Standing strategically in the heart of Kuala Lumpur’s bustling Golden Triangle,

8 Conlay is a mixed-use development project with an estimated gross development
value (GDV) of RM5.4 billion, targeted for completion by end of 2020.

 The development comprises two YOO-interior designed branded residence towers of

57- and 62-storey blocks that will be connected via two sky bridges at level 26 and 44.
The development is complemented by a 68-storey five-star hotel, service suites and
a lifestyle retail component.
 Europe’s oldest luxury hospitality group, Kempinski Hotels, will provide services for
the branded residence towers as well as managing the hotel tower.

 Targeted at high net worth individuals and young professionals, Tower A of

YOO8 serviced by Kempinski, is fully fitted complete with interior decorations and
furnishing by globally renowned interior designer Steve Leung & YOO. This landmark
development will feature Steve Leung & YOO’s designs that integrate the essence of
nature, as reflected in the Eastern Chinese philosophy, by incorporating both water
and wood elements.

WCT sells Klang hotel for RM16.1m in related party transaction (theedgemarkets.com,
23rd December 2015)

 Construction and property development group WCT Holdings Bhd is selling a boutique
hotel located in Bandar Bukit Tinggi 2, Klang, Selangor, to its managing director Taing
Kim Hwa via his private vehicle, Beyond Century Sdn Bhd, for RM16.1 million.

 Gemilang Waras Sdn Bhd, a wholly-owned subsidiary of WCT Land Sdn Bhd, which in
turn is a wholly-owned unit of WCT, yesterday signed a sale and purchase agreement
with Beyond Century for the proposed sale.

 Gemilang Waras is the developer of "The Lead" at Bandar Bukit Tinggi 2, a freehold
integrated commercial development that comprises two towers of serviced apartments,
a boutique hotel and commercial retail shops.

 Taing is a major shareholder of WCT, as well as a director of Gemilang Waras.

 Spanning 4.171 hectares, the eight-storey boutique hotel features 98 rooms together
with 34 car park bays. It is currently under construction.
 WCT expects to complete the sale of the hotel by the fourth quarter of 2018.

Branding homes, creating aspirations (The Star, 5th January 2016)

 St Regis Kuala Lumpur in KL Sentral is located opposite the National Museum. The
48-storey St Regis comprises a 208-room all-suite hotel and 160 units of branded
serviced apartments located above the hotel for privacy. Both will be managed and
operated by St Regis, a brand under Starwood chain.

 The hotel is expected to open in April 2016 and the serviced residences will be handed
over on a staggered basis thereafter.

 As Kuala Lumpur evolves, one of its hallmarks will be the type of residences it offers. It
started with two branded residences – St Regis which started with
management/operations with Starwood in 2008. The Four Seasons Place was
unveiled in 2013 after a few delays.

 Between St Regis and the Four Seasons brand, variants of branded residences are
being marketed and they include homegrown brands like RuMa by the Ireka group,
Banyan Tree from Singapore and Pavilion Suites, a local brand by Tan Sri Desmond
Lim Siew Choon.
 Opinions differ whether an international hotel brand must be behind it. A property
source says whether it is a local or foreign brand, as long as there is a hotel providing
some form of service, it can be termed as a branded residence.

 Branded residences have to be serviced by a hotel, be it a three- or a five-star hotel

brand because the hotel will be providing the same standard of services for both hotel
and apartments. Ideally, the hotel and the residences must be together in one block.
There must be a ratio of 1 hotel suite to a residential unit.

 The Ritz-Carlton hotel and the The Ritz-Carlton Residences are an exception. The
hotel is in the Bukit Bintang-Imbi area under the YTL group and the residences by
Berjaya group in Jalan Ampang. In St Regis and The Four Seasons, the residences
are located above the hotel.

 The existence of this niche segment of the property market for the top 1% of the
population is important as it puts Kuala Lumpur on the global investors’ map. High net
worth investors buy into branded residences around the world. A city which offers
branded residences gives it that global status.

 Buyers buy into this niche market because they are assured of quality and feel secure
behind an international hotel brand standard.

 Global branded residences tend to command a premium of 30% to 40% over stand-
alone properties. It offers a higher yield. St Regis residences, 72% sold, has an
average price of RM2,500 per sq ft.

 Developers pay between 5% and 7% of gross sales revenues to the brand owner,
usually a hotel operator, before they can call it a branded residence. The hotel
operator will advise design standards and provide the residences with hotel support
and services. Kuala Lumpur is at a very early stage of this global trend.

 The other pure-breed branded residence is 65-storey The Four Seasons Place near
the Petronas Twin Towers. Priced at an average of about RM3,000 per sq ft, it is 75%
sold, nearly half of them cash buyers. What remains today are two- and three-bedroom
units ranging from 2,200 sq ft and 3,000 sq ft. The last of eight duplex units, with a
built-up of about 6,500 sq ft, was sold for RM22 million in October. There are two
penthouses, priced at about RM44 million.

 The Four Seasons mall and retail portion will be ready by 2017, the apartments later. It
will have about 160 residences and about 200 hotel rooms, close to the one hotel
room to one residential unit ratio. It is developed by Venus Assets Sdn Bhd, which is
controlled by Ipoh-born Singapore tycoon Ong Beng Seng, businessman Tan Sri Syed
Yusof Syed Nasir and the Sultan of Selangor, Sultan Sharafuddin Idris Shah.

 Despite the soft property market today – and very likely next year – variants of
branded residences have entered the market.

 The latest is 8 Conlay by KSK Land Sdn Bhd, a mixed-use development with an
estimated gross development value (GDV) of RM5.4 billion, targeted for completion by
end of 2020. It will have two residence towers with more than 1,000 residential units
and a 300-room hotel by Kempinski, one of Europe’s oldest hotel brands.

 Among the first to be ready will be Pavilion Banyan Tree Signatures behind KL
Pavilion mall. Banyan Tree is a resorts brand from Singapore. It will have about 100
hotel rooms and 440 private residences. All of them will be in a single block of about
 60-storey block. Lumayan Indah Sdn Bhd has a 51% stake in the project with Qatar
Holding to hold the remaining 49%.

GuocoLand signs AccorHotels as hospitality managers in Singapore, Kuala Lumpur

(theedgeproperty.com, 6th January 2016)

 GuocoLand Ltd and AccorHotels have signed a deal for the management of
GuocoLand’s two newly-built hotels: the Sofitel Singapore City Centre at Tanjong
Pagar Centre, Singapore, and the Sofitel Kuala Lumpur Damansara at Damansara
City, Kuala Lumpur.

 As part of the upcoming multi-billion dollar Tanjong Pagar Centre, the 222-room Sofitel
Singapore City Centre will host facilities such as an outdoor pool, executive lounge,
620 sq m (approximately 6,673.62 sq ft) ballroom, eight meeting rooms, bars and a
restaurant. In addition to that, nearby amenities include Tanjong Pagar Centre’s urban
park, direct MRT station access as well as an array of dining and entertainment
options.

 The 312-room Sofitel Kuala Lumpur Damansara will be the first internationally branded
luxury hotel in the area, and is part of a new 8.5-acre integrated development in the
Damansara Heights enclave, Damansara City. The latter will also have two Grade A
office towers, two luxury high-rise residences, and a lifestyle mall.

 Sofitel Kuala Lumpur Damansara will feature facilities such as a lobby lounge, deli,
three restaurants and bars, an executive lounge, spa, gym, outdoor swimming pool
and pool bar, on top of an 840 sq m (approximately 9,041.68 sq ft) ballroom and five
meeting rooms.

Sunway’s newest 4-star hotel to open in February (The Sun Daily, 12th January 2016)

 Sunway Hotels & Resorts’ newest four-star hotel, Sunway Pyramid Hotel West,
scheduled to commence operation on February 15, 2016 is now open for booking.

 The opening of Sunway Pyramid Hotel West complements the existing cluster of
hotels within Sunway Resort City, namely the five-star 468-room flagship Sunway
Resort Hotel & Spa and the four-star 549-room Sunway Pyramid Hotel East.

 Located on the west side of the iconic Sunway Pyramid Shopping Mall, the Sunway
Pyramid Hotel West has 401 rooms.

 Sunway Pyramid Hotel West’s introductory rates start from RM308++ per room per
night.

 Facilities include a restaurant, five meeting rooms with a capacity of 20 to 150

persons, a gym and a swimming pool.

 Guests will also have access to facilities and are offered cross-signing privileges for
outlets and services managed by Sunway Resort Hotel & Spa.

Sunway’s newest 4-star hotel to open in February (The Sun Daily, 12th January 2016)

 Sunway Hotels & Resorts’ newest four-star hotel, Sunway Pyramid Hotel West,
scheduled to commence operation on February 15, 2016 is now open for booking.
 The opening of Sunway Pyramid Hotel West complements the existing cluster of
hotels within Sunway Resort City, namely the five-star 468-room flagship Sunway
Resort Hotel & Spa and the four-star 549-room Sunway Pyramid Hotel East.

 Located on the west side of the iconic Sunway Pyramid Shopping Mall, the Sunway
Pyramid Hotel West has 401 rooms.

 Sunway Pyramid Hotel West’s introductory rates start from RM308++ per room per
night.

 Facilities include a restaurant, five meeting rooms with a capacity of 20 to 150

persons, a gym and a swimming pool.

 Guests will also have access to facilities and are offered cross-signing privileges for
outlets and services managed by Sunway Resort Hotel & Spa.

Damansara City welcomes Sofitel (The Star, 14th January 2016)

 Globally renowned luxury hotel brand, Sofitel, is set to become the most visible and
talked-about hotel in the exclusive enclave of Damansara Heights in Kuala Lumpur.

 AccorHotels Group which owns the Sofitel brand has recently signed the agreement
with GuocoLand (Malaysia) Berhad to open and manage the hotel in its Damansara
City integrated development.

 The interior of The Sofitel Kuala Lumpur Damansara at Damansara City will be
designed by Wilson Associates, who are renowned for creating luxurious and elegant
interiors in some of the world’s finest hotels. The new hotel will feature 312 guest
rooms, a lobby lounge, a deli, three restaurants and bars, a Club Millesime executive
lounge on the 22nd floor, a So Spa, So Fit gym and outdoor swimming pool complete
with pool bar. There will also be meeting facilities including a 840 sqm ballroom and
five meeting rooms.

 The Sofitel Kuala Lumpur Damansara at Damansara City will be the first internationally
branded luxury hotel in the exclusive Damansara Heights precinct, which boasts
proximity to KL Sentral transportation hub and established townships like Bangsar and
Petaling Jaya.

 The hotel, and indeed the whole precinct, will target corporate clients in the
surrounding area, leisure travellers and the MICE market. A new MRT station, which is
just 400 metres away from Damansara City, will also provide hotel guests and other
tenants alike efficient connectivity to the rest of the Klang Valley.

 Damansara City, with a gross development value (GDV) of RM2.5 billion, is an Entry
Point Project under Malaysia’s Economic Transformation Programme. It has been
identified as a key component and driver of one the fastest growing business districts
in the Greater Kuala Lumpur area with strong and growing interest from buyers and
tenants across South East Asia.

 The jewel of Damansara Heights, Damansara City is an integrated city development

consisting of two Grade A office towers; two towers of luxury residences known as DC
Residency; an F&B-centric lifestyle mall; and the upcoming Sofitel Kuala Lumpur
Damansara. The entire project will be fully operational by the second half of 2016.
 Apart from Damansara City, AccorHotels has announced the signing of a deal with
GuocoLand to open a Sofitel in Singapore as well where the new hotel will form part of
the new Tanjong Pagar Centre, a large-scale integrated development that includes the
tallest residential and office tower in the island republic.

Tropicana sells Sky Express Hotel for RM55m (theedgemarkets.com, 12th January
2016)
 Tropicana Corp Bhd, which has been disposing of its assets to trim its gearing since
2014, is selling its Sky Express Hotel on Jalan Bukit Bintang, Kuala Lumpur, for RM55
million.

 Its wholly-owned subsidiary Advent Nexus Sdn Bhd had earlier in the day signed a
sale and purchase agreement (SPA) with Pinnacle Supreme Sdn Bhd to sell the piece
of land measuring 1,106 sq m, along with the 10-storey Sky Express Hotel built on it.

 Pinnacle Supreme has the right to use the hotel's current name for 18 months.

M101 on track to launch 10 projects worth RM4 bil by 2020 (theedgeproperty.com,

22nd January 2016)

 M101 Holdings Sdn Bhd is forging ahead with its plans to launch 10 projects worth
RM4 billion by 2020.

 The company launched its latest project, M101 SkyWheel, yesterday.

 M101 Skywheel is expected to not only attract foreign investments but also visitors
from around the globe. The company is targeting at least 70% take up for this project
this year.

 M101 SkyWheel is the group’s third and largest instalment of the M101 development
series so far, which encompasses mainly small offices/flexible offices (SoFo) targeted
towards local and foreign investors.

 M101 SkyWheel has a gross development value (GDV) of RM1.4 billion. The freehold,
two 78-storey towers offer 200,000 sq ft of retail space. M101 SkyWheel is named
after a proposed ferris wheel on the 52nd floor (at its highest vantage point).

 The development also has a SkyMall that extends from the 48th to 52nd floor and
Asia’s first Planet Hollywood Hotel. The group has partnered with Studio F. A. Porsche
for its interior design and luxury suites.

 According to M101 Holdings, prices of commercial units at M101 SkyWheel are likely
to start from RM400,000 per unit, depending on market conditions within the next five
years. However, the number of units has yet to be confirmed.

 M101 SkyWheel is expected to complete in 2020.

 Previously, the group has launched M101 Dang Wangi and M101 Bukit Bintang in
2014. Slated for completion by 2017, each project is 85% taken up.

Container Hotel Group, Everly Group to jointly manage international youth hotel in
Roppongi, Cyberjaya (theedgeproperty.com, 18th January 2016)
 Container Hotel Group, Everly Group and BND Global Development signed a
memorandum of collaboration to develop Cyberjaya’s first international youth hotel
today.

 BND Global Development will develop the 300-room hotel in Roppongi, Cyberjaya,
while Container Hotel Group and Everly Group will jointly manage the international
youth hotel’s operations for 10 years, with an option to extend for a further five years.
The hotel is expected to welcome its first guest in 2020.

 The integrated Roppongi on a 24.7-acre site will comprise educational, residential,

commercial, hotel, office, and retail precincts. It will house SEGI College, Cyberjaya
University College of Medical Sciences as well as an international school. Multimedia
University is also sited within the vicinity.

 The hotel will offer a full range of services, including 24-hour housekeeping, F&B
outlets and recreational facilities such as swimming pool and gym.

 Everly Group manages the Everly and Prescott hotel chains in Malaysia.

Branding homes, creating aspirations (The Star, 5th January 2016)

 St Regis Kuala Lumpur in KL Sentral is located opposite the National Museum. The
48-storey St Regis comprises a 208-room all-suite hotel and 160 units of branded
serviced apartments located above the hotel for privacy. Both will be managed and
operated by St Regis, a brand under Starwood chain.

 The hotel is expected to open in April 2016 and the serviced residences will be handed
over on a staggered basis thereafter.

 As Kuala Lumpur evolves, one of its hallmarks will be the type of residences it offers. It
started with two branded residences – St Regis which started with
management/operations with Starwood in 2008. The Four Seasons Place was
unveiled in 2013 after a few delays.

 Between St Regis and the Four Seasons brand, variants of branded residences are
being marketed and they include homegrown brands like RuMa by the Ireka group,
Banyan Tree from Singapore and Pavilion Suites, a local brand by Tan Sri Desmond
Lim Siew Choon.

 Opinions differ whether an international hotel brand must be behind it. A property
source says whether it is a local or foreign brand, as long as there is a hotel providing
some form of service, it can be termed as a branded residence.

 Branded residences have to be serviced by a hotel, be it a three- or a five-star hotel

brand because the hotel will be providing the same standard of services for both hotel
and apartments. Ideally, the hotel and the residences must be together in one block.
There must be a ratio of 1 hotel suite to a residential unit.

 The Ritz-Carlton hotel and the The Ritz-Carlton Residences are an exception. The
hotel is in the Bukit Bintang-Imbi area under the YTL group and the residences by
Berjaya group in Jalan Ampang. In St Regis and The Four Seasons, the residences
are located above the hotel.

 The existence of this niche segment of the property market for the top 1% of the
population is important as it puts Kuala Lumpur on the global investors’ map. High net
 worth investors buy into branded residences around the world. A city which offers
branded residences gives it that global status.

 Buyers buy into this niche market because they are assured of quality and feel secure
behind an international hotel brand standard.

 Global branded residences tend to command a premium of 30% to 40% over stand-
alone properties. It offers a higher yield. St Regis residences, 72% sold, has an
average price of RM2,500 per sq ft.

 Developers pay between 5% and 7% of gross sales revenues to the brand owner,
usually a hotel operator, before they can call it a branded residence. The hotel
operator will advise design standards and provide the residences with hot 5

 The other pure-breed branded residence is 65-storey The Four Seasons Place near
the Petronas Twin Towers. Priced at an average of about RM3,000 per sq ft, it is 75%
sold, nearly half of them cash buyers. What remains today are two- and three-bedroom
units ranging from 2,200 sq ft and 3,000 sq ft. The last of eight duplex units, with a
built-up of about 6,500 sq ft, was sold for RM22 million in October. There are two
penthouses, priced at about RM44 million.

 The Four Seasons mall and retail portion will be ready by 2017, the apartments later. It
will have about 160 residences and about 200 hotel rooms, close to the one hotel
room to one residential unit ratio. It is developed by Venus Assets Sdn Bhd, which is
controlled by Ipoh-born Singapore tycoon Ong Beng Seng, businessman Tan Sri Syed
Yusof Syed Nasir and the Sultan of Selangor, Sultan Sharafuddin Idris Shah.

 Despite the soft property market today – and very likely next year – variants of
branded residences have entered the market.

 The latest is 8 Conlay by KSK Land Sdn Bhd, a mixed-use development with an
estimated gross development value (GDV) of RM5.4 billion, targeted for completion by
end of 2020. It will have two residence towers with more than 1,000 residential units
and a 300-room hotel by Kempinski, one of Europe’s oldest hotel brands.

 Among the first to be ready will be Pavilion Banyan Tree Signatures behind KL
Pavilion mall. Banyan Tree is a resorts brand from Singapore. It will have about 100
hotel rooms and 440 private residences. All of them will be in a single block of about
60-storey block. Lumayan Indah Sdn Bhd has a 51% stake in the project with Qatar
Holding to hold the remaining 49%.

AZRB targets RM800mil to RM1bil in new construction contracts (The Star, 9th
January 2016)
 Ahmad Zaki Resources Bhd (AZRB) targets to replenish its construction order book by
RM800 million to RM1 billion this year, inclusive of the highly anticipated job in the
development of the mass rapid transit (MRT) line 2.

 Although the construction industry outlook is robust this year, supported by a couple of
developments of urban rail network in the capital, AZRB’s target is lower than what
was recorded last year when the company clinched its first toll concession job, the
East Klang Valley Expressway (EKVE), worth RM1.55 billion.

 Some of AZRB’s notable on-going jobs are expected to pick up steam this year.

The EKVE
 The EKVE which started initial ground works in September 2015 will be in full swing
this year.

 The 35.5 km EKVE is the eastern and final uncompleted route of the Kuala Lumpur
Outer Ring Road. The expressway will provide a bypass route and enable motorists
from the southern part of the Klang Valley like Cheras, Bangi and Subang to travel to
Selayang and Gombak and vice-versa without having to go through the city centre. It
will also serve as a bypass route around Kuala Lumpur for inter-regional traffic from
Karak Highway.

Former site of Malaysian Airline System Bhd

 The RM673 million construction job at Jalan Sultan Ismail will begin this year, as
related issues have been ironed out.
 The project was awarded to AZRB in October 2012 by Permodalan Nasional Bhd. This
job requires AZRB to build a 50-storey hotel tower in the heart of Kuala Lumpur.

Uda Legasi Sdn Bhd’s project

 Construction work of the RM386.65 million project featuring an apartment and office
block along Jalan Raja Muda Musa, Kampung Baru is expected to commence.
 The development consists of a 47-storey building containing 639 apartments, a 29-
storey commercial office building and a level of basement car park.

The Langat 2 water project

 AZRB is part of the consortium alongside Salcon Bhd and MMC Corp Bhd that have
been awarded an RM993.8 million contract to build the Langat 2 water project in 2014.

 Apart from pure construction jobs, AZRB has several property developments under its
belt and they are most likely to use its in-house contractor as well.

R3-4 in Kwasa Damansara

 The project was awarded to AZRB just about two about months ago.

 Project R3-4 covers 3.91 acres of freehold land. The proposed development will
consist of 188 units of 162 high-rise twin tower condominiums and 26 units of garden
villas.

Tiara Paka
 AZRB hopes to launch the residential units in Paka, Terengganu, this quarter.

 AZRB’s oil and gas business currently contributes the highest chunk of its bottom line,
surpassing its construction business which reigns higher in terms of revenue.

 AZRB acquired 51% equity interest in Matrix Reservoir Sdn Bhd (MRSB) for RM55
million last November. With the acquisition, MRSB becomes a subsidiary of the AZRB
group.

 MRSB is the owner of TB Supply Base Sdn Bhd (TBSB), which is the operator of the
Tok Bali Supply Base in Kelantan.

 The supply base is well positioned to offer integrated logistics services to production-
sharing contractors and oil and gas service companies operating in the North Malay
Basin, Malaysia-Thailand Joint Development Area and Commercial Arrangement Area
between Malaysia and Vietnam.
 Another business division AZRB is growing is its palm oil plantation in Kalimantan. The
company currently has a total of 7,100 hectares of planted area but will expand it to
10,000 hectares over the next two years.

Intermark Mall occupancy rate seen to improve under Pavilion REIT (The Edge
Financial Daily, 4th January 2016)

 Pavilion Real Estate Investment Trust (Pavilion REIT) has entered into a sale and
purchase agreement with The Intermark Sdn Bhd for the purchase of Intermark Mall, a
six-storey retail building in the Kuala Lumpur city centre, with 225,014 sq ft of net
lettable area (NLA)and 367 car park bays, for RM160 million cash.

 The acquisition comes with a rental income guarantee of RM15 million or RM5 million
per annum for the first three years.

 The mall was last refurbished in 2012, and was 74% occupied at end-September
2015. The purchase will be fully funded via borrowings, to be completed by the first
quarter of 2016.

 Intermark Mall may nudge Pavilion REIT’s financial year 2016 estimated (FY16E)
investment property portfolio by 3% to RM5.35 billion from RM5.19 billion. The deal is
yield-accretive with estimated net property yield of 6.2%, higher than the estimated
borrowing cost of 4.5%.

 Intermark Mall’s less favourable occupancy rate of 74% should improve under Pavilion
REIT’s hands-on management, and given its strategic location in the city centre (about
1km from the Petronas Twin Towers) and its adjoining prime assets, which are two
grade-A office towers and a hotel tower, which should support demand for retail
outlets.

GuocoLand signs AccorHotels as hospitality managers in Singapore, Kuala Lumpur

(theedgeproperty.com, 6th January 2016)

 GuocoLand Ltd and AccorHotels have signed a deal for the management of
GuocoLand’s two newly-built hotels: the Sofitel Singapore City Centre at Tanjong
Pagar Centre, Singapore, and the Sofitel Kuala Lumpur Damansara at Damansara
City, Kuala Lumpur.

 As part of the upcoming multi-billion dollar Tanjong Pagar Centre, the 222-room Sofitel
Singapore City Centre will host facilities such as an outdoor pool, executive lounge,
620 sq m (approximately 6,673.62 sq ft) ballroom, eight meeting rooms, bars and a
restaurant. In addition to that, nearby amenities include Tanjong Pagar Centre’s urban
park, direct MRT station access as well as an array of dining and entertainment
options.

 The 312-room Sofitel Kuala Lumpur Damansara will be the first internationally branded
luxury hotel in the area, and is part of a new 8.5-acre integrated development in the
Damansara Heights enclave, Damansara City. The latter will also have two Grade A
office towers, two luxury high-rise residences, and a lifestyle mall.

 Sofitel Kuala Lumpur Damansara will feature facilities such as a lobby lounge, deli,
three restaurants and bars, an executive lounge, spa, gym, outdoor swimming pool
and pool bar, on top of an 840 sq m (approximately 9,041.68 sq ft) ballroom and five
meeting rooms.
Sunway’s newest 4-star hotel to open in February (The Sun Daily, 12th January 2016)

 Sunway Hotels & Resorts’ newest four-star hotel, Sunway Pyramid Hotel West,
scheduled to commence operation on February 15, 2016 is now open for booking.

 The opening of Sunway Pyramid Hotel West complements the existing cluster of
hotels within Sunway Resort City, namely the five-star 468-room flagship Sunway
Resort Hotel & Spa and the four-star 549-room Sunway Pyramid Hotel East.

 Located on the west side of the iconic Sunway Pyramid Shopping Mall, the Sunway
Pyramid Hotel West has 401 rooms.

 Sunway Pyramid Hotel West’s introductory rates start from RM308++ per room per
night.

 Facilities include a restaurant, five meeting rooms with a capacity of 20 to 150

persons, a gym and a swimming pool.

 Guests will also have access to facilities and are offered cross-signing privileges for
outlets and services managed by Sunway Resort Hotel & Spa.

Damansara City welcomes Sofitel (The Star, 14th January 2016)

 Globally renowned luxury hotel brand, Sofitel, is set to become the most visible and
talked-about hotel in the exclusive enclave of Damansara Heights in Kuala Lumpur.

 AccorHotels Group which owns the Sofitel brand has recently signed the agreement
with GuocoLand (Malaysia) Berhad to open and manage the hotel in its Damansara
City integrated development.

 The interior of The Sofitel Kuala Lumpur Damansara at Damansara City will be
designed by Wilson Associates, who are renowned for creating luxurious and elegant
interiors in some of the world’s finest hotels. The new hotel will feature 312 guest
rooms, a lobby lounge, a deli, three restaurants and bars, a Club Millesime executive
lounge on the 22nd floor, a So Spa, So Fit gym and outdoor swimming pool complete
with pool bar. There will also be meeting facilities including a 840 sqm ballroom and
five meeting rooms.

 The Sofitel Kuala Lumpur Damansara at Damansara City will be the first internationally
branded luxury hotel in the exclusive Damansara Heights precinct, which boasts
proximity to KL Sentral transportation hub and established townships like Bangsar and
Petaling Jaya.

 The hotel, and indeed the whole precinct, will target corporate clients in the
surrounding area, leisure travellers and the MICE market. A new MRT station, which is
just 400 metres away from Damansara City, will also provide hotel guests and other
tenants alike efficient connectivity to the rest of the Klang Valley.

 Damansara City, with a gross development value (GDV) of RM2.5 billion, is an Entry
Point Project under Malaysia’s Economic Transformation Programme. It has been
identified as a key component and driver of one the fastest growing business districts
in the Greater Kuala Lumpur area with strong and growing interest from buyers and
tenants across South East Asia.
 The jewel of Damansara Heights, Damansara City is an integrated city development
consisting of two Grade A office towers; two towers of luxury residences known as DC
Residency; an F&B-centric lifestyle mall; and the upcoming Sofitel Kuala Lumpur
Damansara. The entire project will be fully operational by the second half of 2016.

 Apart from Damansara City, AccorHotels has announced the signing of a deal with
GuocoLand to open a Sofitel in Singapore as well where the new hotel will form part of
the new Tanjong Pagar Centre, a large-scale integrated development that includes the
tallest residential and office tower in the island republic.

Tropicana sells Sky Express Hotel for RM55m (theedgemarkets.com, 12th January
2016)

 Tropicana Corp Bhd, which has been disposing of its assets to trim its gearing since
2014, is selling its Sky Express Hotel on Jalan Bukit Bintang, Kuala Lumpur, for RM55
million.

 Its wholly-owned subsidiary Advent Nexus Sdn Bhd had earlier in the day signed a
sale and purchase agreement (SPA) with Pinnacle Supreme Sdn Bhd to sell the piece
of land measuring 1,106 sq m, along with the 10-storey Sky Express Hotel built on it.

 Pinnacle Supreme has the right to use the hotel's current name for 18 months.

First phase of BBCC project to take off by Q2 (The Star, 19th January 2016)

 The developer of the RM8.7 billion Bukit Bintang City Centre (BBCC), a mixed
development to be undertaken on the former Pudu Jail site, plans to launch the first
phase of project by the second quarter of this year.

 The BBCC project will be built on 19.4 acres at the former Pudu Jail site and will take
eight to 10 years to complete.

 The first phase, which has a gross development value (GDV) of RM1.4 billion, will
comprise a shopping mall, four-star hotel, strata office and two blocks of serviced
apartments. It will take up to five years to complete.

 The first phase will comprise two blocks comprising 700 units of serviced apartments
with price range between RM1,300 per sq ft and RM1,400 per sq ft.

 The BBCC project has Eco World Development Group Bhd holding a 40% stake, while
UDA Holdings Bhd and the Employees Provident Fund (EPF) have 40% and 20%
stakes respectively.

 The consortium will be working with Japan’s Mitsui Fudosan Co Ltd to manage the 1.2
million sq ft mall. The tie-up will see the parties looking to bring in potential tenants
from Japan.

 The new BBCC sales gallery will be launched on Friday.

 The redevelopment of Pudu Jail is among the last tracts of land left in the city centre.
Mega development projects in the nearby locality include Permodalan Nasional Bhd’s
100-storey tower called Menara Warisan and the 72-acre Tun Razak Exchange.
UOA to launch four new projects this year (The Edge Financial Daily, 18th January
2016)

 Given the soft property market environment, UOA Development Bhd is planning only
four launches in 2016, with an estimated gross development value (GDV) of RM3.5
billion. Despite fewer launches, UOA’s existing projects are expected to support its
earnings. As at September 30, 2015, UOA’s unbilled sales stood at a healthy RM1.5
billion.

 After the successful development of Bangsar South, its Jalan Ipoh project will be the
next key catalyst for UOA. The proposed mixed development project, which will be
UOA’s next anchor project, will be spread over 28 acres (11.33 hectares) comprising
condominiums, offices, a retail mall and hotel with an estimated GDV of RM6 billion.

M101 on track to launch 10 projects worth RM4 bil by 2020 (theedgeproperty.com, 22nd
January 2016)

 M101 Holdings Sdn Bhd is forging ahead with its plans to launch 10 projects worth
RM4 billion by 2020.

 The company launched its latest project, M101 SkyWheel, yesterday.

 M101 Skywheel is expected to not only attract foreign investments but also visitors
from around the globe. The company is targeting at least 70% take up for this project
this year.

 M101 SkyWheel is the group’s third and largest instalment of the M101 development
series so far, which encompasses mainly small offices/flexible offices (SoFo) targeted
towards local and foreign investors.

 M101 SkyWheel has a gross development value (GDV) of RM1.4 billion. The freehold,
two 78-storey towers offer 200,000 sq ft of retail space. M101 SkyWheel is named
after a proposed ferris wheel on the 52nd floor (at its highest vantage point).

 The development also has a SkyMall that extends from the 48th to 52nd floor and
Asia’s first Planet Hollywood Hotel. The group has partnered with Studio F. A. Porsche
for its interior design and luxury suites.

 According to M101 Holdings, prices of commercial units at M101 SkyWheel are likely
to start from RM400,000 per unit, depending on market conditions within the next five
years. However, the number of units has yet to be confirmed.

 M101 SkyWheel is expected to complete in 2020.

 Previously, the group has launched M101 Dang Wangi and M101 Bukit Bintang in
2014. Slated for completion by 2017, each project is 85% taken up.

KLCCPSG’s FY15 core net profit of RM746.1m above consensus forecast (The Edge
Financial Daily, 26th January 2016)

 KLCC Property Stapled Group (KLCCPSG) achieved a financial year ended December
31, 2015 (FY15) core net profit of RM746.1 million (+8.2% year-on-year [y-o-y]), with a
stronger profit after tax and minority interest growth of 20.6% y-o-y (underpinned by a
 higher amount of revaluation surplus on its assets, while FY14 also saw a one-off
debt-prepayment fee of RM26 million).

 For FY15, KLCCPSG’s revenue was flat y-o-y, affected by moderation in hotel
revenues (affected by renovation works on meeting rooms and recreational facilities in
the first half of FY15) as well as flat office rental income due to the on-going asset
enhancement initiative (AEI) in Kompleks Dayabumi (closure of City Point).

 As a result, operating profit remained flat in FY15. Its office and retail divisions
remained key business drivers, contributing close to 92% of operating profit.

 KLCCPSG’s medium- to long-term (more than three years) AEI and asset-injection
plans are driven by: growth in its in-built pipeline (redevelopment of the City Point
podium in Kompleks Dayabumi into a 200,000-sq ft retail area, 600,000-sq ft office and
500-room hotel (from 2015 to 2019); development of Lot D1 into an office tower (1.3
million sq ft of gross floor area); and acquisitions.

 KLCCCP’s longer-term potential is being underpinned by an asset-injection pipeline of

approximately RM5.8 billion (backed by its strong parent company).

Home for young students (The Star, 28th January 2016)

 Hospitality specialists Container Hotel Group and Everly Group are teaming up to
manage Cyberjaya’s first international youth hotel. The groups will jointly manage the
international youth hotel’s operations for 10 years, with an option to extend for a further
five years.

 Developed by BND Global Development, the 300-room hotel is located in Roppongi,

Cyberjaya, and will welcome its first batch of guest in 2020.

 The location of the hotel is strategic as Roppongi is set to be the education hub of the
country as it will house SEGI College, Cyberjaya University College of Medical
Sciences as well as an international school, while the Multimedia University is sited
just across.

 Positioned as a lifestyle space, the hotel will be conceptualised based on “Live, Play,
Study” with common areas and social spaces designed to encourage interaction
between residents.

 The container-themed hotels, which are built from renewable freight containers, have
been a big hit since the first outlet opened in 2013. The Container Hotel in Penang was
launched last December while the Ipoh branch of the Container Hotel opened last
week.

 With many varsities located in and around Roppongi, the groups are optimistic of a
high occupancy rate comprising students, interns, flash-packers and researchers.

 The rooms will be available for lease on a daily, monthly or yearly basis.

 The hotel will offer a full range of services, including 24-hour housekeeping, F&B
outlets and recreational facilities such as swimming pool and gym.
 The flexibility in room rates and packages is not new to hotels managed by Container
Hotel Group, as it has introduced innovative offerings at CAPSULE by CHG, an airport
transit hotel located at KLIA 2 launched last year.

Dynasty Hotel tops list of most expensive property for auction at RM210 mil
(TheEdgeProperty.com, 11th February 2016)

 Despite having gone under the hammer a few times since 2014, the reserve price of
Dynasty Hotel in Kuala Lumpur has remained at RM210 million – making it the most
expensive commercial property on the auction market last year.

 The hotel has been up for bid at least twice in 2015.

 Opened in 1994, The Dynasty Hotel is a 28-storey four-star hotel with 788 hotel rooms,
25,063 sq ft of retail space on the ground and lower floors, 116,728 sq ft of office
space and 499 parking bays.

 Another hotel property that boasts one of the highest values is Empress Hotel Sepang
at Bandar Baru Salak Tinggi, with a reserve price of RM61.56 million.

 The Empress Hotel is a 12-storey, three-star hotel with 320 rooms. It is located 63km
from the Kuala Lumpur city centre, and about 8km from the Kuala Lumpur International
Airport and the Sepang International Circuit.

 Dynasty hotel is owned by Dynawell Corporation, wholly-owned subsidiary of former

listed company Gula Perak Bhd, which delisted in 2011, while Empress Hotel belongs
to KSB Requirements & Rest Sdn Bhd – a 70%-owned subsidiary of Gula Perak Bhd.

 According to earlier reports, Gula Perak Bhd planned to sell the two hotels to Time
Glory Investment Ltd, a Hong Kong based company for a sum of RM193.9 million to
repay company debts. However, after Gula Perak Bhd was delisted in 2011, there was
no subsequent announcement regarding to the deal.

 The Shah Alam High Court has granted an order for sale of Empress Hotel land in
January 2013 and the Kuala Lumpur High Court has granted an order for sale of
Dynasty Hotel land in September 2013.

 The two hotels remain unsold and will be put up for auction again in 2016.

Towering plans for Kampung Baru (The Star, 12th February 2016)

 After more than a century stuck in time, Kampung Baru is set for dramatic changes
that will see several ambitious projects coming up in the Malay enclave over the next
10 to 20 years. The government launched the Kampung Baru Detailed Development
Master Plan early last year.

 The rustic village is slated to become the new Malay cultural centre and the city’s new
economic hub with 1,900 hotel rooms, 30 million sq ft of office space, 17,500
residential units and 12% green and water feature space.

 Some of the main projects include the Kampong Bharu City Centre (KBCC) that will
become the focal point of the area. Projects under the KBCC will include a plush park
called KBCC Central Park with pedestrian walkways, pocket parks and water features.
 Twelve iconic buildings with four signature towers with a collective gross development
value in the billions of ringgit will also be built here.

 Another ambitious project is a 70-storey tower with a ferris wheel built on the rooftop.

 UDA Holdings Bhd, meanwhile, is undertaking a RM400 million mixed development

project on a 1.15-hectare tract of land near the Pasar Minggu.

 To kick-start the redevelopment process, the 60-year-old blue gantry located in Jalan
Raja Muda Musa, which has been one of the landmarks in the village, will be removed
and replaced with a modern structure measuring 19m in height and 16m in width. The
design will be modern contemporary with traditional motifs.

 The 115-year-old village will also be getting a major facelift in the form of pedestrian
walkways and widened roads as well as mini parks throughout the township in the next
few years.

 The Duta-Ulu Kelang Expressway (Duke) and the Ampang-Kuala Lumpur Elevated
Highway (AKLEH) will provide direct access into the township.With an LRT station
already in place in the south of the township, and a monorail station on the west side,
and with the MRT Line 2 (Sungai Buloh-Serdang-Putrajaya) alignment passing through
Kampung Baru and KLCC East; Kampung Baru is well connected.

 Another series of projects to transform the township involves turning open spaces in
the village into pocket parks. Three sites – Kampung Pindah’s open field, a plot of land
near Jalan Raja Abdullah and plot of land at the AKLEH/UNIKL junction – have been
identified for these parks.

 In the heart of the Malay enclave is an area called the Kampung Masjid, Kampung
Baru, which encompasses some 16.2 hectares of land, involving 187 lots belonging to
some 1,217 landowners. This spot will be the focal point of the village’s development
where the 12 iconic buildings will be built, with four signature towers and about 17
million sq ft of space. The towers will be connected via a series of pedestrian
walkways and pocket parks.

 At present, work has already started in Kampung Baru with several projects in the
construction stage.

 Fifteen others are in the process of obtaining development orders.

 A notable project is the M101 Entity Sdn Bhd comprising two blocks of 70-storey
towers with a ferris wheel right at the top.

 Others are the Safuan Residen, a 39-storey serviced apartment; Business Suite @
Arina, 21-storeys of business suites; Legasi Residen, a mixed development by UDA
Holdings; and Safuan Suites and a 34-storey serviced apartment project by Safuan
Group Bhd.

Oxley Holdings plans to open hotel and residences in KLCC area in 2020
(TheEdgeProperty.com, 16th February 2016)
 Singapore-listed property developer Oxley Holdings Ltd (Oxley) has announced it will
open its 207-room So Sofitel Hotel and a 590-key So Sofitel Residences in the heart of
Kuala Lumpur City Centre (KLCC) area in 2020.

 The residences, to be managed by AccorHotels, will be the hospitality group's first

lifestyle branded residences in Asia.

 Both the hotel and residence will be part of a large-scale mixed-use development that
will include an office tower, retail mall and two luxury hotels with residences.

 Some of the facilities the So Sofitel Kuala Lumpur hotel guests will be able to enjoy
include four inspired food and beverage outlets, an extensive pool with deck and
terrace, So Fit gym, So Spa, signature Club Lounge, business centre and several
function and event spaces.

 Meanwhile, some of the features of the So Sofitel Kuala Lumpur Residences include a
lounge, extensive gym with studio and yoga room and a barbecue area overlooking
the Kuala Lumpur skyline.

 Residents will also be able to enjoy a la carte services including housekeeping, room
service, laundry services and concierge services provided by the hotel.

 The So Sofitel Kuala Lumpur Hotel will be an addition to the chain of other boutique
hotels by AccorHotels including the Sofitel So Singapore, Sofitel So Bangkok, Sofitel
So Mauritius and the recently opened So Sofitel Hua Hin in Thailand.

Central i-City shopping centre to open October 2018 (TheEdgeProperty.com, 19th

February 2016)

 i-City in Shah Alam is set to welcome Central i-City shopping centre in October 2018.

 i-City developer I-Bhd and Bangkok-based property developer and investor Central
Pattana Public Co Ltd (CPN) is in a 40:60 joint venture (JV) to develop the RM850
million shopping centre.

 The shopping centre will sit on a 1.5 million sq ft freehold tract and has a net lettable
area (NLA) of 940,000 sq ft with approximately 350 shops. Tte shopping mall will carry
brands from Malaysia, Thailand and other countries.

 Central i-City shopping centre is CPN’s first development outside of Thailand.

 The development of the shopping mall is in line with I-Bhd’s business plan of
expanding its leisure and investment property business and to enjoy a strong recurring
income stream from these two segments once i-City is fully developed in the next 10
years.

 i-City is planned to be an international tourism destination with complementary

components that include three hotels, a performing arts and convention centre and a
medical tourism hub.
I-Bhd appoints Setiakon to build 50-storey RM1bil 8Kia Peng (The Star, 22nd February
2016)
 I-Bhd has appointed Setiakon Builders Sdn Bhd as the master contractor to oversee
the development of 8Kia Peng condominium in Kuala Lumpur, its maiden high-end
development outside i-City.

 8Kia Peng is made up of a single 50-storey tower with a gross development value
(GDV) of RM1 billion. There are a total of 442 condominium units with a mix of 315
units of service apartments and Soho, with mostly all units overlooking the Petronas
Twin Towers. Other features include a hotel lobby area, a Sky Lounge and an infinity
pool.

 The project is slated for completion in three years.

 I-Bhd is the developer of i-City, a 72-acre freehold ultrapolis which is made up of

corporate towers, offices, serviced apartments, hotels and a shopping mall which will
open by 2017.

Freeze on approval of hotel licences in KL (The Star, 23rd February 2016)

 Kuala Lumpur City Hall (DBKL) will no longer issue hotel licences in the federal capital
until further notice. The ruling applies to all types of hotels ranging from the 6-star
establishments to budget hotels.

 However, hotels that have already received planning permission but have yet to start
construction will not be affected.

 Too many hotel projects have saturated the market, with many more in the process of
being constructed or about to be built.

 Currently, there are 939 hotels in the city including more than 400 budget hotels.

 The KL budget hotel market is saturated as more and more businesses are seeking
licences to convert their shop lots into budget hotels.

 In the past six months, only two planning approvals were issued – one for the stalled
The Grand Duta Hyatt hotel project at the junction of Jalan Sultan Ismail and Jalan
Ampang, and another project also located in Jalan Ampang. Five budget hotels were
approved during the same period and there will be a cap on it soon.

 Meanwhile, two DBKL buildings in Jalan Tuanku Abdul Rahman, where the
development order was received for a hotel, had been put on hold.

 Based on data compiled by DBKL, the number of hotel rooms in Kuala Lumpur has
exceeded a staggering 56,000. This includes hotels, service apartments, budget hotels
and backpacker hostels

Tapping their potential (The Star, 4th March 2016)

 Selayang StarCity by property developer Sierra Delima Development Sdn Bhd, a

subsidiary of Leadmont Group, is an integrated development. Its proposed
 components include serviced suites, a mall, and two towers of designer suites with a
block reserved for future development.

 Managed by international hotel brand Holiday Villa Hotels and Resorts, Holiday Villa at
Selayang StarCity, which features 306 serviced suites, is expected to start operations
in September next year.

 Holiday Villa offers amenities such as 24-hour room service, laundry, valet,
housekeeping, limousine services, car rental and airport or city transfers. Recreational
facilities include swimming pool, gymnasium, wading pool and pool deck on level nine
while restaurants, a cafeteria and a banquet hall can be found on level four.

 The Selayang StarCity mall is located along Jalan Ipoh, 15km away from the Kuala
Lumpur city centre, with good connectivity by major highways including Kepong-
Selayang Highway, Karak Highway, DUKE Highway and Latar highway.

 The one-stop neighbourhood mall spans across 2.83 hectares of land and has up to
51,096.6 sqm of retail space. With more than 200 outlets over four levels and 1,800
parking bays, the mall will serve as a vibrant lifestyle hub for patrons of all ages. To-
date, 85% of the retail space has been taken up. It will commence operation by year
end.

 Meanwhile, Polaris Suites comprises 660 units of designer suites while Vega Suites
features 360 units, slated for completion by May 2018 and end of 2018 respectively.

WCT to aggressively cut debt (The Star, 5th March 2016)

 Construction and property company WCT Holdings Bhd’s (WCT) plans to aggressively
reduce its debts beginning this year. The company will undertake a series of corporate
exercises to achieve this, in preparation for future land bank acquisition and expansion
of recurring income through its property investment and management businesses.

 Plans down the pipeline include an initial public offering (IPO) for its construction arm
to unlock the value of the construction business and injection of WCT’s property
investment and management businesses into a real estate investment trust (REIT),
both of which will substantially lower its balance sheet.

 WCT is targeting to complete its REIT by the end of this year.

 The group’s objective is to develop a total net lettable area (NLA) of 5 million sq ft. The
total NLA of Paradigm Mall PJ, Aeon Bukit Tinggi, and Paradigm Mall JB currently
amounts to 3 million sq ft. These malls are to be injected into the Reit that it plans to
launch.

 WCT is confident about launching Paradigm Mall Johor Bahru by end of this year and
have secured anchor tenants like Sogo and Village Grocer. It will also include
gateway@klia2 into the REIT, if allowable due to its 35-year concession awarded by
Malaysia Airports Holdings Bhd.

 Meanwhile, the group expects to hold a preview launch within the next two months for
the first phase of its freehold condominiums (419 units), part of its upcoming KL South
integrated development. The remaining 940 units will be launched when the economy
improves.
 The 72-acre Paradigm Garden City, with gross development value (GDV) of RM8
billion, is located in OUG and accessible through the Kesas Highway. It comprises a
mix of retail mall (2 million sq ft NLA), corporate office tower, retail offices, hotel,
condominiums and serviced apartments.

 Besides that, WCT is in the process of tendering for construction projects worth a total
of RM10 billion to RM20 billion for the next six months to one year. It aims to secure
RM2 billion to RM3 billion worth of projects for calendar year 2016.

 WCT’s current outstanding orderbook is valued at RM4.8 billion.

EcoWorld plans 8 new projects (The Star, 5th March 2016)

 Eco World Development Group Bhd is planning to go ahead with eight new
commercial development projects under its Business Masterplan series.

 The property developer exceeded its sales target of RM3 billion with RM3.016 billion
secured for the financial year ended October 31, 2015 and is confident of securing
RM4 billion this year.

 Eco World plans to offer business grants to buyers of its commercial property in the
Klang Valley, Penang and Iskandar Malaysia this year - ranging between 2.5% to 3.5%
of their property value to be paid over 12 months from commencement of their
business.

 The eight projects under the EcoWorld Business Masterplan Series are The Stride
Strata Offices & Serviced Apartments 1 &2 @ Bukit Bintang City Centre, Eco
Somerset @ Eco Sanctuary, Retail/Office and Sky Pod @ Eco Sky in the Klang Valley;
Eco Bloom @ Eco Meadows in Penang; and Eco Business Park III, Eco Vantage @
Eco Tropics, Eco Palladium @ Eco Spring and Eco Galleria @ Eco Botanic in Iskandar
Malaysia.

 The developer also plans to provide franchising grants of up to 3.5% of the property
value, to be disbursed over three months. There are also plans to offer an investment
grant to their customers and investors who lease their commercial units to businesses
seen to add value to the project - a subsidy equivalent to 50% of one year in rental
income

 Currently, the company has 11 projects ongoing and is expecting to complete its Eco
Business Park I in Iskandar Malaysia and as well as the Eco Majestic development in
the Klang Valley this year.

 Notable projects this year include

Eco Marina in Penang
 Residential development on 300 acres of land by the sea in Batu Kawan with over
2km facing the sea and a golf course.
Bukit Bintang City Centre (BBCC) project
 Redevelopment of the 19.4 acre former Pudu jail site, comprising of a mixed
residential and commercial development.
 Proposed world-class masterplan features strata offices, office towers, a hotel and
serviced residences.
 The proposed shopping mall and grand bazaar will incorporate Japanese and
Malaysian elements respectively.
  It will have a transit hub (existing LRT and monorail running along the boundaries
of the site) with the upcoming MRT only about 500m away.
 Targeted launch in the middle of the year.

Hospitality: The new Sunway Pyramid Hotel West (The Edge Financial Daily, 1st March
2016)

 The new 4-star Sunway Pyramid Hotel West is conveniently located and adjoins the
iconic Sunway Pyramid Shopping Mall. It boasts 401 rooms set upon the 323.74-
hectare integrated development within the Sunway Resort City, promising to cater to
the region’s robust business exchange, corporate travel and leisure tourist markets.

 The guestrooms come with convenient amenities like complimentary WiFi and wired-
broadband access, USB charger outlets, 42-inch LED Smart television with satellite
news, sports and movie channels, flexible workspaces, high pressure walk-in rain
showers, ample closet space, in-room electronic safe boxes, and coffee and tea
making facilities.

 The hotel has five fully-equipped function rooms with a seating capacity of 20 to 160
persons and a host of other facilities, including the 174-seater Café West, the hotel’s
all-day dining restaurant, in-room dining services, a fitness centre and an outdoor
swimming pool. Guests will also have access to facilities and are extended cross-
signing privileges for outlets and services managed by Sunway Resort Hotel & Spa.

 Adjoining Sunway Pyramid Hotel West is Sunway Pyramid Shopping Mall’s newest
retail expansion. Some of the brand names making its presence in the new three-
storey retail extension include Marhaba, Sanook, Mama’s Corner, Impresseoul, The
Parenthood and several other interesting retail concepts that are expected to open
progressively until the second quarter of 2016. With this new expansion, Sunway
Pyramid now has more than 160 diverse food and beverage outlets.

KSK’s Kempinski Hotel at 8 Conlay recognised as Entry Point Project

(TheEdgeProperty.com, 9th March 2016)

 KSK Land Sdn Bhd’s (KSK Land) Kempinski Hotel at its 8 Conlay development has
been recognised by the Ministry of Tourism and Culture (MOTA) as an Entry Point
Project (EPP) under the tourism National Key Economic Areas (NKEA) in Malaysia’s
Economic Transformation Programme (ETP).

 8 Conlay is a mixed-use development with a gross development value (GDV) of RM5.4

billion that comprises a 68-storey tower with a five-star Kempinski Hotel, a lifestyle
retail component and Kempinski Residences, two YOO-interior designed branded
residence towers of 56 and 61 storeys named Y008 serviced by Kempinski that will be
connected via two sky bridges at levels 26 and 4.

 Kempinski Hotel KL is expected to provide more than 700 new job opportunities while
committed investment value, excluding land cost, is expected to be about RM360
million which will contribute to the gross national income.

 The tourism NKEA aims to attract high-yield tourists through the development of an
optimal mix of quality hotels, with a high level of service delivery.
i-City: Jewel of Western Klang Valley (The Star, 8th March 2016)

 i-City, a transit oriented development (TOD), and the surrounding region, are expected
to contribute to and reap the benefits from the expected convergence of transportation
infrastructure, such as the Kuala Lumpur – Klang Bus Rapid Transit (BRT), LRT 3
Line, Federal Highway, and West Coast Expressway (WCE).

 The RM9 billion freehold ultrapolis development on a 72-acre site offers a mix of
residential, commercial and recreation components.

Residential enclave
 Suites, small offices home offices (SoHos), service apartments, and residences
with interior design themes from London, New York, and Paris.
 Last tower block, Hyde, located on its western parcel, was launched on February
27, 2016. It is directly connected to the Central i-City Mall via a pedestrian bridge.
 This 43-storey tower block is fully fitted and furnished to a London interior design
theme and offers units ranging from 465 sq ft to 769 sq ft,

Business enclave
 A MSC CyberCentre development with corporate towers, cyber office suites, and
data centres.
 50,000 knowledge-based workers expected when completed.

Hospitality enclave
 Best Western (now in operation)
 Hilton Double Tree (expected to be open by 2018)
 A five-star hotel,

Retail – Central i-City Mall

 A RM850 million investment by I-Berhad and Central Pattana Group (CPN),
Thailand’s largest retail developer.
 Ground breaking ceremony held recently with opening scheduled for October
2018.
 20 million visitors expected for first year

Retail – High Street @ i-City

 Two levels of retail shops with a total net floor area (NFA) of approximately
180,000 sq ft.
 Anchored by Red Carpet wax museum, Trick Arts Museum, and fitness centre.
 Connected by pedestrian bridges to Central i-City Mall and to the outdoor theme
park.
 This retail podium is supported by 6,500 car parking lots below.

 The direct flyover from Federal Highway is now completed and the i-City LRT station is
expected to complete in 2020.

SP Setia beefs up its project arsenal (The Star, 11th March 2016)

 SP Setia Bhd is undeterred by the current bearish property market outlook and has
eight new projects, among the other projects lined up for launch this year.

 Well regarded for its series of Setia Eco projects, the developer will be launching the
sequel for Setia Ecohillcalled Setia Ecohill 2 in Semenyih, and Setia EcoTempler in
 Rawang. The other Klang Valley projects that will be rolled out this year are Setia
Putra Residences in Precinct 15, Putrajaya, Setia Sky Seputeh in Kuala Lumpur, Trio
by Setia in BukitTinggi, Klang, service residences at KL Eco City in Kuala Lumpur and
DeKiara Rumah Selangorku housing project in Setia Alam.

 Two new projects will also be launched outside of the Klang Valley – Setia Sky Ville in
Jelutong, Penang and Aeropod retail offices in Kota Kinabalu, Sabah.

 The group will continue to offer mid-priced range homes and also products for the
underserved market. Sp Setia continues to be on an active look out to acquire more
land bank.

 Upcoming launches include:

Setia Ecohill 2
 1,010 acres adjacent to the on-going Setia Ecohill 1 township
 Circa 50% of the entire development is dedicated to ample landscape,
waterscapes, amenities and infrastructures. The balance 50% of land will
comprise mostly residential components with approximately 12% earmarked for
commercial components to support the township.
 The accessibility to the corridor has been given a boost with the opening of the
Lekas-Ecohill Link in September 2015.
 Phase one of Setia Ecohill 2 will be launched in May 2016
 354 units of double-storey terraced houses and cluster semi-detached homes with
built-ups of 1,830 sq ft to 2,150 sq ft.
 Prices are above RM500,000 for terrace unit and above RM600,000 for a cluster
home.

Setia EcoTempler
 Gated and guarded development to be built on 195 acres in Rawang.
 Residential components will include two-storey link villas, semi-detached homes
and bungalows with built-ups of 2,394 sq ft to 2,965 sq ft for the villas; 3,492 and
3,482 sq ft for the semi-detached houses and 4,214 sq ft for the bungalows.
 Modelled after Setia Eco Park and Setia Eco Glades projects with sustainable and
eco features.

Setia Putra Residences

 Condominiums designed for optimum comfort and convenience.
 The Sky Garden provides panoramic view of Putrajaya while the club house
showcases artfully crafted water features, wading and swimming pools,
reflexology path and playground.

Setia Sky Seputeh

 This high-end condominium project on 4.8 acres of land offers 290 exclusive semi-
detached residences
 Six varying layouts ranging from 2,300 sq ft to 3,000 sq ft.
 Six units per floor
 Each floor comes with a private lift lobby
 Within a 500-metre walking distance to Mid Valley Megamall and easy access to
Bangsar, Damansara Heights and KL Sentral.

Trio by Setia
 The service apartment project in Bukit Tinggi are targeted at first-time buyers and
young adults
 Unit sizing range from 600 sq ft to 1,200 sq ft with prices from RM450,000
  Facilities will include a terraced facility deck, swimming pool, gym and scenic
garden.
 Located near the country’s largest AEON shopping complex and the proposed
LRT station in Klang

KL Eco City
 A 25-acre integrated mixed-use development along Jalan Bangsar
 Developed on a master plan that presents many industry-first features - a vision
for “The City of Tomorrow” - fulfils three key requirements – connectivity,
integration and sustainability.
 The new KL Eco City Integrated Rail Hub will include the existing Abdullah Hukum
LRT Station and the new KTM Komuter station. It is also linked to The Gardens
and Mid Valley Megamall via a pedestrian bridge.
 Components include a 40-storey hotel and a block of service residences in two
wings that are seamlessly integrated.

DeKiara
 Located near Setia Alam’s well-established apartment series
 Three blocks of 737 Rumah Selangorku apartments
 Typical built-up of 800 sq ft, priced at RM170,000

Setia Sky Ville

 Located in Jelutong, Penang
 550 units of condominiums with built-ups of 1,036 sq ft to 1,424 sq ft
 Indicative price of RM750,000 onwards.

Aeropod
 A 60-acre mixed-use development, poised to be the largest integrated linear city in
Kota Kinabalu, Sabah
 Boutique retail offices are open for sale
 Sizes range from 1,200 sq ft to 1,594 sq ft, priced at an average of RM882 per sq
ft

PNB offers glimpse into new Merdeka skyscraper set to overshadow Twin Towers
(www.themalaymailonline.com, 16th March 2016)

 Permodalan Nasional Berhad (PNB) has unveiled details of the planned 118-storey
tower that will outstrip the 88-floor Petronas Twin Towers as the country’s tallest
building.

 Work has started in 2014 on the building dubbed the “Merdeka PNB118”, which is
designed by Australian firm Fender Katsalidis Architects.

 Standing at 630 metres, the iconic tower is anticipated to be the 5th tallest building in
the world, and will be enlisted in the ‘Mega Tall’ category together with the Burj Khalifa
Dubai, Shanghai Tower and Makkah Royal Clock Tower.

 The tower expects to be given the MSC Malaysia Cyber Centre status, besides being
the first building in the country to fulfil three green building certification standards.

 The joint development cost of the tower and a seven-storey shopping mall estimated to
be RM5 billion will be funded by PNB.
 Slated for completion by 2020, 82 out of the 118 levels that offer 1.7 million sq ft will be
rented out as offices, with companies under the PNB Group taking up 60 floors. The
remaining 22 floors of the office space in the tower will be rented out to local and
international firms.

 An observation deck and a sky lobby will be part of 18 floors that will also
accommodate mechanical and electrical facilities.

 A six-star luxury hotel with 236 rooms will occupy another 18 floors covering 435,000
sq ft.

 The name of the hotel operator will be disclosed at a later date while PNB will be the
anchor tenant of the tower.

 The anchor builder will be a joint partnership by South Korea’s Samsung C&T Corp
and local firm UEM Group Bhd.

 Both the Merdeka PNB118 tower and the shopping mall that covers 900,000 sq ft
accounts for the first phase of the Warisan Merdeka project.

 The mixed development on 19 acres of land will see its two remaining phases
completed by 2024.

 Warisan Merdeka is located in proximity to three types of railway in the area —

including the upcoming MRT line that will pass through the MRT Merdeka station
adjacent to the project. The existing LRT and monorail lines will also be connected to
the MRT Merdeka station.

Developers opt for strata route to sell buildings (The Star, 21st March 2016)

 Oxley (Malaysia) Sdn Bhd, a subsidiary of Singapore developer Oxley Holdings Ltd,
which will be commencing the development of Oxley Towers KLCC this year, will be
selling its office space in Oxley Towers KLCC on individual unit basis instead of en
bloc as planned initially.

 The company has received a few enquiries to sell its 29-storey office block, with a
gross floor area of 346,000 sq ft, en bloc initially. However, in view of the general weak
sentiment in the oil and gas (O&G) sector, soft property market and the oversupply of
office space in the Klang Valley, the company is opting for the strata route.

 With a lack of smaller-sized top-grade strata offices in the KLCC area, Oxley Towers
KLCC is expected to cater to this demand. The indicative pricing on per sq ft basis
may range between RM1,800 and RM2,000 - this works out to 645-sq-ft units being
priced at above RM1 million.

 Oxley Malaysia is working with lending institutions to offer a 150% financing package.
It will occupy two floors in the 29-storey block which has a gross development value
(GDV) of RM450 million.

 The other components within the 3-tower integrated project will comprise two hotels
and their respective serviced apartments and two retail floors.
 Dubai-based hotel group Jumeirah will operate a luxury-class 181-room hotel on a
49-storey block located above 267 serviced apartment units. They are planning to
launch it in Dubai first this year.
  The third and tallest block, at 78 storeys, about 10 storeys short of the 88-storey
Petronas Twin Towers, will house French boutique hotel Sofitel So. It will operate
207 rooms located below 590 serviced apartment units.

 The mixed project is expected to be completed in 2021.

 Oxley has a 50% discount off its development charges from KL City Hall, a savings of
about RM50 million on condition that it begins work within six months.

 Oxley bought the land, currently occupied by Pelita Nasi Kandar, from the Loke Wan
Yat estate for some RM450 million, or a record RM3,300 per sq ft. The prime freehold
land with Jalan Ampang frontage has an estimated GDV of RM3 billion.

 Oxley also has a project in Section 16, Petaling Jaya next to the Phileo Damansara
Trade Centre. It submitted its application for development order in mid-March for an
RM800 million GDV mixed project comprising serviced apartments, a hotel, small
offices home offices and corporate offices on five acres.

 The plot ratio for this Section 16 project is 3.99, whereas its KLCC project has a plot
ratio of 13.99.

Lembaga Getah monetising its KLCC land (The Edge Malaysia, 29th March 2016)

 Lembaga Getah Malaysia (LGM) is monetising its prime land in Kuala Lumpur City
Centre (KLCC), in a move reportedly to shore up its coffers.

 On March 15, the company held a briefing for qualified international and local hotel
operators to invite tenders for a proposed five-star hotel to be developed on a parcel in
Persiaran Stonor, within a stone’s throw of the Petronas Twin Towers.

 This is not the first piece of land in the city that LGM is monetising.

 In 2013, its board had entered into a joint development agreement (JDA) with Global
Oriental Bhd (GOB) for the development of mixed-use projects on two parcels, one
each in Jalan Ampang and the Ampang Hilir area.

 There is also talk that the LGM headquarters — Bangunan Getah Asli — in Jalan
Ampang could be hived off or redeveloped with unsolicited offers being made.

 The LGM parcel in Persiaran Stonor is in a strategic location. It faces Istana Siraj, the
private residence of the Perlis royal family, and is flanked by the Embassy of Japan
and the High Commission of Pakistan. It also lies between Persiaran Stonor and Jalan
Eaton and is not too far from Jalan Tun Razak.

 The freehold parcel measures 4.75 acres in size with plans for a mixed-use
development comprising a 60-storey five-star hotel and three 50 to 60-storey blocks of
small offices/home offices.

 Meanwhile, for LGM’s JDA with GOB to develop the parcels in Jalan Ampang and
Ampang Hilir, the board appointed Pedoman Ikhtisas Sdn Bhd, a wholly-owned
subsidiary of GOB, for the task. Pedoman Ikhtisas is to develop the parcels, measuring
5.75 acres in total, into mixed-use projects with an estimated total gross development
value (GDV) of RM860 million.
 Under the JDA, LGM will get a corporate tower worth RM247.25 million and RM20
million cash, which translates into a land cost of RM1,067 per sq ft for GOB. The fact
that a corporate tower is part of the consideration for the land has sparked talk that
LGM’s current headquarters in front of the Petronas Twin Towers could also be up for
redevelopment.

London-listed Aseana Properties selling Aloft Hotel for RM419mil (The Star, 1st April
2016)

 London-listed Aseana Properties Ltd (Aseana Properties) is disposing of the Aloft

Kuala Lumpur Sentral Hotel for RM418.7 million or about US$104.6 million. The deal
works out to about RM870,000 a room for the 482-room hotel.

 Property developer Aseana is a 23.07% associate company of Bursa-listed Ireka Corp

Bhd.

 The buyer is Malaysia-based plantation group Prosper Group Holdings Ltd.

 Prosper Group was essentially buying two companies which owned the hotel, namely
ASPL M3B Ltd and Iringan Flora Sdn Bhd. Prosper Group will also assume certain
debts, assets and liabilities of these two companies.

 The transaction is expected to be completed in the third quarter of this year, after the
due diligence process by Prosper Group, and after consent from Starwood Asia Pacific
Hotels & Resorts Pte Ltd, the operator of the Aloft Hotel.

 The 34-storey hotel with two basement floors in Jalan Stesen Sentral 5, Kuala Lumpur
Sentral is one of three blocks developed on a joint-venture (JV) basis by Aseana
Properties and Malaysian Resources Corp Bhd (MRCB) several years ago.

 Excellent Bonanza Sdn Bhd was jointly set up on a 40:60 basis with Aseana
Properties taking a smaller stake.

 The other two blocks are office buildings Nu Tower 1 and 2. Aseana Properties,
subsequently, bought over the hotel but sold its stake in Excellent Bonanza back to
MRCB for RM20 million in 2014.

 The hotel was completed in early 2013 and officially launched the same year. The Aloft
Hotel achieved an occupancy rate of 79% in 2015.

Royale Pavilion Hotel to be unveiled in 2Q2017 (TheEdgeProperty.com, 30th March

2016)

 Construction of the Royale Pavilion Hotel Kuala Lumpur has progressed to 80%, with
its opening set for the second quarter of next year, according to developer Harmoni
Perkasa Sdn Bhd (HPSB).

 The five-star Royale Pavilion Hotel will become another landmark in Kuala Lumpur.

 The collaboration with Banyan Tree Hotels and Resorts will bring world-class facilities
to Malaysia and enhance the potential of tourism in Kuala Lumpur as well as add more
value to the city centre.
 This is the second collaboration between both parties after their Banyan Tree
Signatures Pavilion Kuala Lumpur.

 Developed at a cost of about RM330 million, the 12-storey Royale Pavilion Hotel
started construction in May 2015. It offers 337 rooms including 233 standard rooms, 71
deluxe rooms, 32 suites and one presidential suite.

 The hotel also offers a full range of facilities including recreational facilities, banquet
hall, conference facilities, dining restaurants and retail gallery.

 Royale Pavilion Hotel is located a mere 400m from Banyan Tree Signatures Pavilion,
which will also be unveiled in 2017 after the opening of Royale Pavilion Hotel. Both
hotels are connected to the shopping mall.

 The two hotels are unique and cater to different segments and tourists’ needs.
 Banyan Tree Signatures Pavilion is a boutique urban resort with larger rooms that
cater to group or corporate travellers.
 Royale Pavilion Hotel is a mainstream five-star hotel with retail and F&B
components.

Management agreement signed for new five-star hotel in KL (The Star, 6th April 2016)

 Harmoni Perkasa Sdn Bhd has signed a hotel management agreement with Banyan
Tree Hotels & Resorts Pte Ltd for its new five-star Royale Pavilion Hotel in the heart of
Kuala Lumpur.

 Construction of the 12-storey hotel began in May 2015 and is scheduled for completion
in the second quarter of 2017.

 The hotel will offer 233 standard rooms, 71 deluxe rooms, 32 suites and one
presidential suite located across nine guest room floors complete with full recreational
banquet and conference facilities. It will also have six food and beverage outlets
comprising all-day dining and specialty dining restaurants, as well as stylish watering
holes.

 Royale Pavilion Hotel and Banyan Tree Signatures Pavilion are linked to Pavilion
Kuala Lumpur via a link bridge. There will be a complimentary shuttle bus service
between the two hotels.

Double Tree by Hilton hotel to boost i-City's theme park, attractions

(theedgemarkets.com, 5th April 2016)

 The DoubleTree by Hilton i-City hotel, which is set to open its doors to guests in 2018,
is expected to boost the profile of i-City's theme park and attractions.

 The hotel will occupy the bottom half of the building with the top half made up of
serviced residences which will be fully fitted to Hilton standards.

 I-Bhd is the master developer of i-City which is being developed into a high-rise urban
centre within the Greater Kuala Lumpur with 25,000 residences, 30,000 knowledge
workers and 30 million visitors a year.

 The Double Tree by Hilton hotel, with a gross development value (GDV) of RM200
million, will emerge as the second international accommodation chain in the 72-acre i-
 City ultrapolis. Hilton will operate the 300-room hotel which is part of the RM1 billion
investment property portfolio that I-Bhd is establishing to provide a recurring income
stream for the group.

 I-Bhd's investment property portfolio comprises a 1.5 million sq ft regional shopping

mall CentralPlaza@i-City, three hotels, 8,000 car parking lots and data centres, among
others.

Johawaki Development to launch Avanti Residences on May 7 (TheEdgeProperty.com,

4th May 2016)

 Construction firm-turned-property developer Johawaki Development Sdn Bhd will

launch Phase 3 of its landed development, Avanti Residences, on May 7. The final
phase will offer 38 semi-detached homes with built-ups of 3,090 sq ft, on a 3,200 sq ft
plot. The semi-detached homes are priced from RM1.49 million onwards.

 Avanti Residences’ first two phases, totalling 20 acres, were launched last September.
Phase 1 comprises 22 semi-detached units with built-ups of 2,750 sq ft. Priced from
RM1.03 million onwards, the units are fully sold. Phase 2 offers 24 semi-detached
units that are similar to those in Phase 1 and are priced from RM1.1 million. Some
50% have been taken up.

 The whole project has a gross development value (GDV) of RM120 million. When fully
developed, the low-density development will have 84 semi-detached homes.

 Each unit will have a smart-home concept with a smart lock system and emergency
panic button. It will also have an integrated alarm system, rainwater reservoir pumping
system, anti-climb fencing and closed-circuit television.

 Located in Seksyen U17 in Shah Alam, the project can be accessed via major
highways such as the North-South Expressway, Guthrie Corridor Expressway and
Kuala Lumpur-Kuala Selangor Expressway (Latar Expressway).

 Amenities in the gated community will include a three-acre central park and
playground. It will also offer free security service for a year.

 Johawaki Development will next focus on a hotel development in Jalan Pahang.

Located in the vicinity of Hospital Kuala Lumpur, the 130-room hotel will sit on an
almost one-acre parcel. Scheduled to be completed by the end of next year, the hotel
will be managed by Johawaki Development.

 The developer has another 13 acres next to Avanti Residences that it is keeping for
future development as well as more than 50 acres in Sungai Merab, Selangor;
Rinching, Semenyih; Krubong, Melaka; Bukit Kapar, Klang; and Seremban. The
projects for these parcels are still in the planning stage.

Paramount Corp banks on diversification (TheEdgeProperty.com, 5th May 2016)

 Recently, Paramount Corp Bhd launched its new corporate identity to promote its
direction going forward. It plans to focus on its customers — especially the younger
generation — and is determined to stay in its two businesses.

 For the financial year ended December 31, 2015 (FY2015), its property division saw
revenue increase 13% year-on-year (y-o-y) and profit before tax rise 23% y-o-y.
 Overall, the division contributed 74% to the group’s revenue, and 80% to its profit
before tax.

 Property sales reached RM432 million in FY2015, thanks to the sale of 506 units.
Paramount Corp also saw record sales of more than RM100 million from projects in
the northern region. The company enjoyed a take-up of between 60% and 85% across
all its developments.

 The company offers different products at different price points to suit different
investors. At its flagship development, Paramount Utropolis in Glenmarie, property
sales increased after KDU University College started operation.

 Paramount Corp plans to double its property launches this year to RM770 million, from
RM313 million in 2015. It also aims to achieve RM480 million in sales for FY2016, a
10% increase from last year.

 This year, Paramount Corp’s launches will include new and existing projects, of which
some 30% will be commercial units, 34% landed residential units and 36% integrated
high-rise condominiums. Besides the varied product mix, its strategy is to launch
projects with a price range of RM300,000 to RM3 million

 Existing projects that will be launched this year are Bandar Laguna Merbok in Sungai
Petani, Kedah; Greenwoods in Salak Perdana, Sepang; Sejati Residences in
Cyberjaya; Bukit Banyan in Sungai Petani; and Paramount Utropolis.

 Meanwhile, new developments this year include Sekitar26 Enterprise in Shah Alam,
Selangor; Utropolis Batu Kawan in Penang; and a project in Section 13, Petaling Jaya,
Selangor.

 Sekitar26 Enterprise is part of the larger 30-acre Sekitar26 integrated

development. Sitting on five acres, the development will have 117 units of 2 and 3-
storey shopoffices with a total gross development value (GDV) of RM117 million.
 Utropolis Batu Kawan, a 28.8-acre project in Penang will be the state’s first
university metropolis, replicating the concept of Paramount Utropolis in Glenmarie.
It is slated for launch in the second half of this year. To be developed over 10
years, the integrated development fronting Aspen Vision City will feature
residential apartments, commercial lots and a retail centre. The project has a total
GDV of RM2 billion.

 The Section 13 project on a 5.2 acre leasehold site will be self-contained, with a
GDV of RM700 million. It will have corporate offices, serviced apartments, a retail
component and a Paramount Property Gallery. It is also scheduled to be launched
in the second half of this year.

 Meanwhile, the development of Bandar Laguna Merbok is nearing its end. First
launched in 1996, the 500-acre freehold mixed-use project sits next to Sungai Merbok.
The RM920 million developments will see its last phase launched this year.

 Bandar Banyan, now 30% completed, will be the company’s next focus in Sungai
Petani. The 520-acre freehold development with a total GDV of RM1 billion is
scheduled to be completed in 2027.

 For Paramount Utropolis, there are changes to the plan for the last phase – reducing
the number and sizing of units (from about 1,000 sq ft to about 800 sq ft each to make
 them more affordable) and allocating a parcel of land to build a hotel. The hotel, with a
gross development cost (GDC) f RM40 million, will be 3-star and have more than 200
rooms. The 11.7-acre freehold Paramount Utropolis was first launched in 2012 and will
be completed in 2021. It has a total GDV of RM912 million. The project also features a
small retail mall of about 120,000 sq ft.

 Paramount Corp’s total undeveloped land bank stands at over 800 acres, with a total
GDV of over RM9 billion.

St. Regis Kuala Lumpur officially opens for business (The Malay Mail, 3rd May 2016)

 St. Regis Kuala Lumpur, part of the Starwood Hotels & Resorts chain, is now officially
open.

 With a view of the Lake Gardens, the St. Regis Kuala Lumpur has 208 rooms that start
from 138 sq m. The Royal Suite with its private elevator, outdoor terrace, show kitchen
and ensuite massage room and gym as well as separate his-and-hers wardrobes is a
massive 353 sq m.

 Like its Singaporean counterpart, this St. Regis will also offer the brand’s signature
butler service.

 Other highlights of the hotel include six restaurant and bar venues, including Taka by
Sushi Saito, the only one outside Tokyo.

 The hotel will also offer 10,000 metres of private event space for meetings and events
as well as a fitness centre, yoga room and outdoor swimming pool.

First hospitality property in Malaysia to open in 3Q2016 (TheEdgeProperty.com, 9th

May 2016)

 Malaysia’s first Oakwood hotel and serviced apartments – formerly the Nomad
SuCasa Hotel – is scheduled to open in September this year.

 Property owner, Plenitude Bhd, has invested RM50 million for the renovation and
upgrading of the Oakwood Hotel & Residence Kuala Lumpur. The refreshed
development will meet the varied needs of leisure and business travellers.

 Plenitude has appointed Oakwood Asia Pacific Ltd to manage and operate Oakwood
Hotel & Residence Kuala Lumpur at Jalan Ampang, Kuala Lumpur.

 The hotel has been closed for refurbishment since March 2015 after its owner Nomad
Group was acquired by Plenitude.

 Upon completion, the 22-storey Oakwood Hotel & Residence will comprise 252 units of
serviced apartments with facilities such as a swimming pool, a children’s wading pool,
a convenient store, gymnasium and restaurant as well as meeting rooms and ballroom
facilities.

 Oakwood Hotel & Residence Kuala Lumpur will be offering about 72 studio apartments
and 180 units of one and two-bedroom hotel suites.

 This will also be the first hotel and residence property under the Oakwood brand in the
 Asia Pacific. The operator hopes to achieve 70% occupancy rate after the operation
starts in September.

 Oakwood Hotel & Residence Kuala Lumpur is the operator’s 28th Oakwood brand
property across 16 cities in Asia. The company plans to unveil nine hospitality
properties this year in Singapore, Vietnam, Japan and China.

 Oakwood Asia Pacific had recently launched its hotel in Brisbane, Australia in January.

 Meanwhile, Plenitude is diversifying its portfolio into the hospitality segment and
expects the revenue contribution from the segment to increase to about 30% in near
term from 5% to 10% currently.

 Other than Nomad SuCasa Hotel, Plenitude has another three hospitality properties
under the Nomad Group, namely the 295-room Novotel Kuala Lumpur City Centre, the
131-room GLOW Penang and a 66-suite serviced residence project known as The
Nomad Serviced Residences Bangsar.

 Plenitude also owns two hotels in Penang -- Four Points by Sheraton Penang and the
Gurney Resort Hotel & Residences.

Hotel set for opening next year (The Star, 11th May 2016)

 Property developer Naim Holdings Bhd’s first owned international hotel within Bintulu
Paragon development is expected to open for business next year.

 Construction works on the proposed 238-room hotel is progressing on track.

 Under a memorandum of understanding (MoU) signed between subsidiary Naim Hotel

Sdn Bhd and Luxury Hotels International Management Company (Marriott) last
December, the new three-star hotel would be called Fairfield by Marriott, and managed
by Marriott.

 Meanwhile, riding on the success of Bintulu Paragon street mall component, Naim
launched two more blocks of the street mall last year, with key features including 24-
hour security and patrols with CCTV surveillance, a network of bridges and escalators
to seamlessly connect each floor and units.

 Also launched was another block of Bintulu Paragon small office versatile office
(SOVO) project, a new sales gallery and beautifully landscaped alfresco piazza, which
offers venue for large-scale events.

 This year, Naim will be concentrating on its three flagship developments – Bintulu
Paragon (street mall, SOVO and “The Peak” condominium), Kuching Paragon
integrated development (Sapphire on the Park condominium) and Southlake
Permyjaya integrated township development (a range of landed residential properties)
in Miri.

 Plans are also in the pipeline to launch more medium range and affordable products.
Oakwood keen to expand its presence in Malaysia (TheEdgeProperty.com, 16th May
2016)

 International hospitality manager and operator Oakwood Asia Pacific aims to grow its
presence in Malaysia through new partnerships and is seeking such opportunities with
local property owners.
 The operator is aggressively looking at opportunities to grow its footprint in expanding
markets, including Malaysia.

 Kuala Lumpur will be the beginning of its venture into the Malaysian market. Oakwood
Asia Pacific is also considering other cities [in Malaysia] with great potential.

 Oakwood Asia Pacific has been appointed by Plenitude Bhd as the management and
operating company of Oakwood Hotel & Residence Kuala Lumpur; formerly Nomad
SuCasa Hotel.

 This is also the operator’s 28th Oakwood brand property in the Asia Pacific.

 Slated to open in September this year, the 22-storey Oakwood Hotel & Residence
offers 252 units of serviced apartments with facilities such as a swimming pool, a
children’s wading pool, a convenience store, gymnasium and restaurant as well as
meeting rooms and ballroom facilities.

 Oakwood Asia Pacific recently launched its first Oakwood apartments in Brisbane,
Australia, which comprises 162 apartments with choices of studios, one-bedroom and
two-bedroom apartments.

 Other new hospitality properties which will be unveiled in 2H2016 include Oakwood
Studios Singapore, Oakwood Hotel & Residence Suzhou, Oakwood Apartments in
Vietnam’s Ho Chi Minh City, Oakwood Residence Damei Beijing, Oakwood
Apartments Minami Azabu Tokyo and Oakwood Apartments Sanya, as well as a new
property in Indonesia.

 Separately, the emergence of online accommodation booking platforms such as

Agoda, Trivago and Airbnb, provides another avenue for hospitality operators to reach
out to a wider customer base.

 Oakwood also offers apartment-style accommodation with flexible rates depending on

the length of stay, catering to the needs of business and leisure travellers as well as
expatriates who are looking for accommodation to relocate their family during periods
of transition.

 Since its inception over 50 years ago, Oakwood has had extensive network with four
brands – Oakwood Premier, Oakwood Studios, Oakwood Residence and Oakwood
Apartments – all over the world with close to 25,000 serviced apartments throughout
North America, Asia and Europe.

Binastra Land to launch flagship integrated development in Chan Sow Lin

(TheEdgeProperty.com, 28th May 2016)

 Contractor-cum-property developer Binastra Land Sdn Bhd aims to launch its flagship
and largest project, the RM1.3 billion Trion Kuala Lumpur in Chan Sow Lin, an
industrial area in Kuala Lumpur, at the end of the year.

 The freehold mixed-use development will come up on a 14.075-acre parcel, on which

currently stands a Volkswagen showroom that will be relocated in September.

 The project is expected to complete in five years. It will feature retail, hotel, serviced
apartments and office components.
  Three blocks above a 9-storey podium.
Podium:
- 2 levels of retail (circa 70,000 sq ft or 20 units) with the remaining levels for
parking bays (about 400 bays for the commercial component)
- Developer will retain about half of the retail lots
 Three blocks:
- 2 blocks of serviced apartments (> 60-storey)
- 1 block with mix of offices, hotels and serviced apartments
- In total, > than 1,300 serviced apartment units, built-ups of 600 sq ft and 1,000
sq ft. Pricing below RM800,000 for the small units.
- The three levels of office component will be retained by Binastra land for own
use
- Mercure will manage and operate the four-star hotel (260 rooms)

Room rates in KL fall while region experiences higher rates (The Malaysian Reserve,
26th May 2016)

 At A time when the Asia-Pacific region saw hotel room rates post solid growth in the
first-quarter of 2016 (1Q16), rates in Malaysia’s capital city experienced a negative
growth as a result of a fall in overall hotel occupancy.

 According to HRS Hotel Price Radar 1Q 2016 report, the average room rate per night
in Kuala Lumpur (KL) fell 9.8% in the 1Q of this year. The other city that saw lower
rates is Beijing, with a 1.2% drop. HRS is an end-to-end hotel solutions provider.

 Similar to last year, Tokyo, Sydney and Singapore dominated the region with the
highest average room rates per night.

 Of the markets studied in the region, Bengaluru, India, has experienced the highest
increase in hotel rate development, while Sydney, Australia, reported flat performance
since 1Q15.

 The report said the data also showed a decline in business travel spent in Beijing,
following a slowdown in the Chinese economy over the last year.

 The HRS Hotel Price Radar looks at per-night hotel room rates and is reflective of
hotel reservation needs in a market during a specific period and consequently, the
destinations which companies are channelling their corporate travel budgets.

 The data obtained is based on hotel bookings made by over 3,000 corporate clients
including global players from Fortune 500 companies such as Google Inc, China
Mobile Communications Corp, Hitachi Ltd, Huawei Technologies Co Ltd, Alibaba
Group Holding Ltd and Panasonic Corp, via HRS Hotel’s portal in the 1Q16.

 The results and analysis further mirror the impact of the growing meetings, incentives,
conferencing and exhibitions (MICE) sector in the region.

Sunsuria City, Ever Rich Land in JV to develop Korean-themed development

(TheEdgeProperty.com, 31st May 2016)

 Property developer Sunsuria Bhd is in a 80:20 JV (joint development) collaboration

with Welcome Global Co Ltd, a wholly-owned subsidiary of Ever Rich Land Co Ltd to
develop an 8.48-acre Korean-themed development in Sunsuria City located in
Putrajaya South, Salak Tinggi.
 The development will constitute a boutique hotel, wedding house, serviced
apartments, cultural heritage retail shops, and a themed garden. The whole
development is expected to complete over the next five years.

 Costing some RM35 million, the Korean Beauty Mall, a one-stop array of fashion
beauty care boutique mall with Korean beauty care products and services, will have a
built-up of 60,000 to 70,000 sq ft.

 Besides the Klang Valley residents, the development is also expected to tourists who
plan to visit both the Xiamen University Malaysia and the upcoming International Outlet
Mall in Sunsuria City.

 One of the interesting components that will be brought into Sunsuria City is Hotel
Everrich, a boutique hotel from Gwanghwa Island, Incheon, South Korea.

 Sunsuria City is a 525-acre freehold integrated township with an estimated gross

development value (GDV) of RM10 billion.

Malls must stay relevant to thrive (TheEdgeProperty.com,3rd June 2016)

 Sunsuria Bhd, has decided to, interestingly, make a bold bid to build what will be called
the Korean Beauty Mall.

 Coming up in Putrajaya South, Salak Tinggi, the built-up of the mall of 60,000 to
70,000 sq ft will house an array of Korean fashion and beauty care boutiques and
services. Virtual plastic surgery consultations will also be made available to facilitate
procedures to be conducted in Korea.

 The mall is a feature of a Korean-themed development to be built on a 8.48-acre tract

that Sunsuria and partner Welcome Global Co Ltd, a wholly-owned subsidiary of Ever
Rich Land Co Ltd, are developing.

 At the Bukit Bintang City Centre (BBCC), a 19.4-acre joint development with a gross
development value (GDV) of RM8.7 billion by Eco World Development Group, Uda
Holdings Bhd and the Employees Provident Fund (EPF), an agreement has been
inked with Mitsui Fudosan Group subsidiary Mitsui Fudosan (Asia) Pte Ltd and Sony
Music subsidiary Zepp Hall Network Inc to build a 1.4 million sq ft lifestyle mall and a
concert hall with over 2,000 in capacity.

 The plan is to bring in Japanese brands that will complement the Japanese experience
in mall design, management and operation skills besides leveraging on Mitsui
Fudosan’s relationship with a large network of Japanese and international retailers.
The estimated gross development cost (GDC) of the mall and concert hall has been
put at RM1.6 billion and RM400 million, respectively.

 Mitsui and BBCC Development intend to build the retail mall under the Mitsui Shopping
Park LaLaport brand – a regional mall concept first conceived by Mitsui Fudosan some
35 years ago, which evolved from “a place where people gather” to “a place where
people interact”. Work on this mall is expected to start in the third quarter of this year,
with completion targeted for 2021.

 BBCC comprises six blocks of serviced apartments, a retail and entertainment block, a
4-star hotel with branded residences, a strata office, and an 80-storey 3-in-1 signature
tower housing a 5-star hotel, luxury residences and corporate offices.
 Thematic malls (include selectively-popular IT malls and others focuing on furniture,
bridal gowns or wholesale fashion) are not new to Malaysia but being a niche can be a
boon or bane.

 Variety and a sense of freshness, key drivers of any mall or even a retail outlet, are a
must to stay ahead of the curve. It is about offering a total experience. The role of food
and beverage is also huge in well-patronised malls.

 While mall visiting is fast becoming a way of life for Malaysians, malls are crying out
loud for footfall. Last year, there were more than two million sq ft of new retail space
from completed mall in Greater KL (include the Atria Shopping Gallery in Damansara
Jaya, Sunway Putra Mall in KL, Ikea Cheras, Emerald Avenue in Selayang and Star
Avenue Lifestyle Mall in Shah Alam.

 The already crowded field is expected to be expanded further this year with the
completion of Sunway Velocity in Cheras, Empire City Mall in Damansara Perdana
and MyTown Shopping Centre in Cheras.

 Total space in Greater Kuala Lumpur is expected to reach 70 million sq ft by end-2018,

exceeding the supply in Singapore and most cities in Southeast Asia.

 Ballooning retail space aside, sales have been hit as the market struggles to shrug off
the impact of the Goods and Services Tax introduced in April 2015.

 Even popular neighbourhood malls with captive affluent catchment are lamenting over
dipped receipts of up to 20% or more, especially for the non-essential items.

 The onslaught is also coming from another front – online retailing is making significant
inroads with especially the Internet savvy.

Econpile bags RM208m substructure works (theedgemarkets.com, 2nd June 2016)

 Econpile Holdings Bhd has bagged a RM208 million contract to undertake bored piling
and pilecaps, diaphragm walls, earthworks, foundation and substructure works of a
mixed commercial development at Jalan Ampang here.

 Its wholly-owned subsidiary Econpile (M) Sdn Bhd (EMSB) has received a letter of
award dated May 31 from Oxley Rising Sdn Bhd for the proposed project, which
features hotels, branded residences, offices and retail units.

Hotel boost for industrial area (The Star, 4th June 2016)

 Geno Hotel, a new 4-star business hotel straddling the borders of Subang Jaya and
Shah Alam, is now open for business, offering 244 rooms (200 deluxe rooms and 44
suites).

 Geno Hotel houses nine meeting and conference rooms that can cater to between 15
and 100 people, as well as a pillarless grand ballroom that can accommodate up to
800 persons with a signature 9,280m by 4,000m-sized LED panel.

 Besides facilities such as a swimming pool, gym and sauna, the hotel will also have
four eateries – Taste all-day dining cafe, Ajito Japanese restaurant, Geno Palace
Chinese restaurant and Unwind bar, lounge and cigar divan.
 Located along Jalan Subang Mas, Taman Subang Mas, the hotel with gross
development value (GDV) of RM80 million, marked the maiden venture by developer
LYL Group into the hospitality industry. It is targeted at business travellers from nearby
industrial parks as well as the surrounding residential communities.

 The hotel is offering a promotional room rate starting at RM208 nett for a deluxe room
and RM300 nett for a suite.

UOA inks MoU with China hospitality company (TheEdgeProperty.com, 1st June 2016)

 UOA Hospitality Sdn Bhd (UOA Hospitality), a unit of UOA Development Bhd, has
inked a memorandum of understanding (MoU) with Hubei Chutian Media & Hotel
Investment Management Co Ltd (Hubei Chutian) for a long-term partnership that
involves resource sharing, complementary advantages and exploration of new
markets.

 Among some of UOA Hospitality’s portfolio of hotels in Kuala Lumpur include Capri by
Fraser in Bangsar South, a collaboration with international hotel operator, Frasers
Hospitality Pte Ltd, Invito Hotel Suites in Bukit Ceylon and the recently-opened V E
Hotel & Residence in Bangsar South.

 V E Hotel and Residence, Bangsar South is a new 4-star hotel property that combines
modern design sensibility with a distinct Asian personality.

 The V E Hotel and Residence comprises 337 well-appointed rooms and 95 fully-
furnished serviced residences which offer an array of facilities including a number of
F&B outlets as well as conference and event spaces under the Connexion Conference
& Event Centre (CCEC).

 The CCEC is a 200,000 sq ft event space managed by UOA Hospitality.

Econpile secures RM208m piling works for Jalan Ampang project (The Edge Financial
Daily, 6th June 2016)

 Econpile Holdings Bhd has secured a RM208 million contract to undertake piling works
for a mixed commercial development in Jalan Ampang. The contract was awarded by
Oxley Rising Sdn Bhd. The contract entails bored piling and pile caps, diaphragm
walls, earthworks, foundation and substructure works. The duration of the contract is
26 months.

 Oxley Rising (part of Singapore-listed Oxley Holdings Ltd) is building a three-tower

development ranging from 28 to 79 storeys on three acres (1.2-hectare) of land in
Jalan Ampang. The site is adjacent to the Petronas Twin Towers.

 Dubai-based Jumeirah Group will operate a 190-room luxury hotel and 273 premium
residences within the development, which is expected to be completed in 2021.

Strategic malls still pulling ’em in (The Star, 18th June 2016)

 Despite the subdued retail property market currently, malls that are generally
strategically located or managed “properly” are still attracting customers in the droves.
 IOI City Mall, with a NLA of more than one million sq ft, opened its doors at the end of
2014. The success of the mall will be replicated in its phase two development, with an
additional one million sq ft and a major convention centre. Meanwhile, the addition of
two blocks of Grade A office towers and the completion of the five-star Le Meridian
Hotel in mid-July are expected to invite more diversified excitement that will draw
bigger crowds to the mall, especially on weekdays.

 The mall has an occupancy rate of around 95%, with rental rates ranging from RM5 to
RM20 per sq ft per month. It is anchored by major brands, such as the 13-screen
Golden Screen Cinemas, HomePro, Index Living Mall, the second largest outlet of
Parkson departmental store and the first conceptual “Food First” Tesco store in the
country, District 21 Adventure Park and an Olympic-size Icescape Ice Rink.

 Other specialty retail offerings of the mall include its mini anchors, namely Borders,
Brands Outlet, Food Junction, Harvey Norman, H&M, LOL, Molly Fantasy, Kidzoona,
Padini Concept Stone, Sports Direct.com, Toys R Us, Uniqlo, Wangsa Bowl and YFS.”

 The mall also hosts a varied mix of fashion and accessories categories complemented
by a wide array of motherhood necessities, home and living, IT gadgets, groceries and
services.

 It has more than 100 food and beverage (F&B) outlets at all levels of the mall, offering
a good variety of dining options from casual fast food, exquisite fine dining to exotic
international cuisines. Notable outlets include Magnum Putrajaya, T-Lounge by Dimah,
Nathan’s Famous, Tony Roma’s, Dal.komm Coffee and Johnny Rockets. There is an
al-fresco stretch of The Symphony Walk located on the ground floor, which overlooks
the golf course and lush greenery.”

 The success of IOI City Mall is also attributed to the fun-filled and unique
entertainment components of the mall; include the 70,000 sq ft Apocalypse-themed
Adventure Park – District 21, and the 30m by 60m ‘biggest ice rink in Malaysia’ –
Icescape Ice Rink.

 There are a total of circa 670,000 households, or a population catchment of 2.8 million
within a 30-minute drive from the mall.

 According to Retail Group Malaysia (RGM), the Malaysian retail industry recorded a
4.4% fall in sales in the first quarter of this year compared with a 4.6% growth a year
ago.

 The poor first quarter performance is attributed to higher pre-goods and services tax
(GST) sales a year ago as well as the weak Chinese New Year sales in February. The
estimated growth rates for the third and fourth quarters of 2016 are 5% and 5.5%, with
poor consumer spending expected to be the biggest challenging factor for 2016.

 Fashion, together with F&B, is now considered basic for most malls, while the
entertainment component is getting bigger in almost all sizeable malls. People are
more likely to travel further and stay longer in a mall with at least a unique attraction.

 “The industry will continue to see shoppers’ experience being enhanced with
personalised or interactive services and technology-driven facilities, such as a car
finder system, marketing programmes, shoppers’ rewards and festive-related
campaigns.”
I-Bhd looks to expand land bank (The Star, 13th June 2016)

 Property developer I-Bhd is looking at expanding its land bank for its next phase of
development as its existing land in Shah Alam that houses its iconic i-City is down to
40%.

 i-City has used up 20% of its land while another 40% is still being developed.

 For its urban projects, the group is looking to develop some 20.2 hectares to 28.3
hectares with a gross development value (GDV) of up to RM7 billion while for
townships, I-Bhd is looking at 202 hectares to 242 hectares with the same amount of
GDV.

 I-City is a mixed development strategy where about 30% of the land is owned by I-Bhd
with the balance developed as a joint venture with the land owner.

 Currently, the group has RM743 million in unbilled sales at the end of 2015 and is
building the Central i-City, which is a one million sq ft mall, in collaboration with the
Central Pattana Group of Thailand.

 Also, the group is set to develop a four-star hotel to be managed by Double Tree Hilton
in the 29.1-hectare freehold ultrapolis township.

New hotel offers wide range of facilities including private pool (The Star, 14th June
2016)

 Lexis Suites hotel along the Teluk Kumbar shore, Penang is located about 10 minutes’
drive from the Penang International Airport and Bayan Lepas Free Trade Zone.

 The latest five-star hospitality addition by Lexis Hotel Group has a gross development
value (GDV) of RM205 million and an investment value of RM183 million. It is suited
for all kinds of travellers from families on holiday to executives on working trips.

 There are 222 suites in total where guests can enjoy a steam room and a private pool
at the suite balcony. Each suite also offers two king-sized beds. The spacious
Executive Suites are sized at 875 sq ft while the luxurious Premium Suites are 968 sq
ft.

 Visitors can enjoy family-friendly amenities at KidzWorld, Starz Karaoke, a LexSpa

retreat, swim in the landscaped swimming pool or work out in the gymnasium. There
are also a BBQ area and Sky Terrace.

 The Lexis Suite also offers an ideal location for meetings, conventions or social
gatherings.

 The group also manages the Lexis PD, Grand Lexis PD and Lexis Hibiscus. With the
latest Lexis Suites Penang, the group now has a total of 1,576 rooms.

 Since 2006 until the end of March this year, the group’s resorts and hotels have
attracted about 2.5 million tourists, 40% of whom are foreign tourists from 63 countries.

 Another hotel (440 rooms) with a GDV of RM550 million in Kuala Lumpur is in the
pipeline. Located near KLCC, the project is still in the planning stages and is expected
to be completed in four years.
New project launched in Klang (The Star, 22nd June 2016)

 Nestled within Bandar Bestari in south-eastern Klang, Ridgewood residences in

Canary Garden is a project by Khoo Soon Lee Realty Sdn Bhd, a wholly-owned
subsidiary of KSL Holdings Bhd.

 The project with a gross development value (GDV) of RM534 million features 112
double-storey semi-detached link houses and 318 double-storey semi-detached
houses.

 Ridgewood will be launched in two phases, of which 42 units of semi-detached link

houses and 23 units of semi- detached houses are now for sale.

 The project on a 14.2-hectare site targets those living in Klang who want to upgrade
within the township as well as residents from Subang and Kota Kemuning. To date,
about 60% of the units are already booked.

 The semi-detached link houses (built-up: 2,777 sq ft) and semi-detached units (built-
up: 3,306 sq ft) are priced at RM419 per sq ft and RM412 per sq ft, respectively.

 Construction will commence by end of August with target completion by August 2018.

 Canary Garden is a mixed township development, offering resort-style environment

and lush green surroundings with the prominent 2.5km Blackwater River splitting the
township right in the middle.

 There are five precincts of landed residential within the 180-hectare freehold
development, Ridgewood being the second.

 There will also be a 21-hectares French-inspired manicured garden with a sculptured

landscape, French-designed dome and an interesting maze for both adults and
children.

 A total 36.5 hectares of land is dedicated to commercial projects that include the KSL
City Mall @ Klang. The upcoming shopping mall is expected to be the largest in Klang,
boasting 210,000 sq m gross floor area and 167,000 sq m lettable area.

 Construction of the mall will start at end of this year with completion targeted in two
and a half years. Other proposed complementary components include a 400-room
hotel and three blocks of serviced apartments.

 The gated-and-guarded development will be equipped with a 24-hour multi-tiered

security system that includes a central guardhouse, patrolling guards, CCTVs as well
as an intercom system along with a panic button mechanism.

 The township is accessible via major highways, including Kesas Highway and Federal
Highway, while the South Klang Expressway (SKVE) will reduce travelling time for
those headed to or from Banting and Taiping, with an upcoming coastal highway that
will link these locations.

 The nearest LRT station is located at Johan Setia, 1km away from the township.

EkoCheras Mall secures key tenants (TheEdgeProperty.com, 18th July 2016)

 Property developer Ekovest Bhd has secured key tenants including Golden Screen
Cinemas (GSC), Village Grocer, Borders Books, Starbucks and Coffee Bean for its
EkoCheras Mall, which is within the RM2.11 billion EkoCheras development in Cheras,
Kuala Lumpur.

 The new four-storey mall will have a tenancy mix that includes a grocer, F&B outlets,
fashion, health and fitness, entertainment, educational and electronics/IT.

 EkoCheras Mall, which is expected to open in January 2018, will feature 4,300 parking
bays and about 250 retail outlets. The mall will have some 625,000 sq ft of net lettable
area (NLA).

 To date, the mall has secured 50% to 60% of tenants and is expected to be fully
tenanted when it opens.

 Rental for the retail outlets in the mall ranges from RM3 to RM20 per sq ft.

 The mall is featured within an integrated development. Its strategic location will see
EkoCheras becoming an effective property for retail yield or capital appreciation.

 EkoCheras Mall is located in EkoCheras, which is a 12-acre mixed-use development

comprising serviced apartments, office suites, hotel suites and a retail component.

 The project is accessible via the East–West Link, the Grand Saga Highway, MRR2,
Jalan Cheras, SILK Highway and an upcoming MRT line.

Ireka plans six projects worth RM1.3b (The Edge Financial Daily, 18th July 2016)

 Property development and construction outfit Ireka Corp Bhd is expecting to roll-out six
property launches over the next 18 months, with total expected gross development
value (GDV) of RM1.3 billion.

 The group’s property development segment slipped into a loss of RM4.23 million in the
financial year ended March 31, 2016 (FY16), compared to a profit of RM5.18 million in
the previous year, largely due to marketing and other expenses incurred for future
projects. No new projects were launched during the year.

 The six projects Ireka has planned are mainly spread out in Kajang and Nilai (with a
small portion in Mont Kiara), including the first phase of its dwi@Rimbun Kasia project,
a courtyard-style apartment project in Nilai, which has an expected GDV of RM130
million, and will be the first to be launched.

 The group’s FY17 business, however, will still have to rely on its construction segment
as its planned property projects are only expected to provide meaningful contribution
to the group’s earnings from FY18.

 Ireka has tendered for about RM3.99 billion worth of contracts over the last twelve
months. As at end March 31, the group’s order book stood at about RM1.12 billion, of
which RM513 million remained outstanding.

 The group is actively bidding for local construction projects, such as the Sungai Besi
— Ulu Kelang Expressway and the mass rapid transit (MRT).
 It is also expecting brighter prospects ahead as its 23%-owned associate Aseana
Properties Ltd and the group’s property and construction segments are likely to return
to profit this year.

 Aseana completed its sale of the Aloft Kuala Lumpur Sentral Hotel in mid-June.
Aseana, which is listed on the London Stock Exchange, sold the hotel for a gross
transaction value of US$104.6 million (about RM412.12 million) to Prosper Group
Holdings Ltd.

 Meanwhile, Aseana’s remaining projects, completed and upcoming, carry a collective,

estimated GDV of US$771 million.

Is there more upside for REITs on expectation of another rate cut? (The Edge Financial
Daily, 19th July 2016)

 Contrary to the expectation of most economists, Bank Negara Malaysia cut the
overnight policy rate (OPR) by 25 basis points to 3% last Wednesday, following its
counterparts from Indonesia, Singapore and Taiwan. It was the central bank’s first rate
cut since 2009, after the global financial crisis. Its readiness to support short-term
growth via monetary easing has been viewed positively by the market — the ringgit
has since appreciated 0.6% to 3.957 against the US dollar.

 Currently, the average dividend yield for M-REITs is around 6.0% to 6.5%, compared
with 5.3% during its peak valuations in 2012 and 2013. There may still be upside
potential for price appreciation of the M-REITs in the coming months. The large-cap
REITs have recorded consistent dividend yields of 5% to 6% since their listing and the
yields are expected to be sustained even if rental reversions were to slow down.

 However, given the challenging domestic economic growth outlook, the acquisition
opportunities for REITs may be limited due to the scarcity of quality property assets in
the market. The situation is not helped by the looming supply of new retail malls in
Malaysia, especially within the Klang Valley.

 REITs that are backed by solid sponsors include Sunway REIT, Pavilion REIT, KLCCP
Stapled Group and MRCB-Quill REIT. Sunway REIT has the most visibility in terms of
potential asset injections given its strong pipeline of assets with an estimated value of
between RM2 billion and RM3 billion, which could be injected over the next two to
three years.

 For Pavilion REIT, its pipeline of assets over the medium term include Elite Pavilion
mall, Fahrenheit 88 and possibly Pavilion Bukit Jalil City and Pavilion Damansara
Heights.

 For KLCCP Stapled Group, its sponsor KLCC Holdings is currently developing Lots 91,
185, 176 and 167 (K) in the KLCC area into an office tower, luxury hotel and retail
podium. The development is expected to be completed by the end of 2019.

 MRCB-Quill REIT, meanwhile, should stand out as an office REIT, given its dual-
sponsor structure and the strong backing of Malaysian Resources Corp Bhd and Quill
Group. It is currently in the process of acquiring Menara Shell from MRCB for RM460
million, which would increase the total property value of the REIT by 41% to RM2.2
billion.
 Separately, IGB REIT has the lowest earnings risk due to solid rental reversion and the
highest retail sales. In the longer term, the sponsor of IGB REIT is constructing Mid
Valley SouthKey Megamall, which is expected to be completed in 2018 and,
eventually, be injected into IGB REIT.

Concorde KL to be demolished to unlock land value (The Edge Malaysia, 25th July 2016)

 Long-established Concorde Hotel Kuala Lumpur (581-room four-star hotel), which is

linked to Sultan of Selangor Sultan Sharafuddin Idris Shah, entrepreneur Tan Sri Syed
Yusof Syed Nasir and Singaporean tycoon Ong Beng Seng, may be torn down to
make way for a multibillion-ringgit integrated project. The owner of the 57-year
building, Ampang Hotel Sdn Bhd, is weighing the possibility.

 Ampang Hotel is wholly owned by Ampang Investment Pte Ltd. Ong’s Singapore-listed
Hotel Properties Ltd’s annual report shows that it owns 30% of Ampang Investments.
Jardine Cycle & Carriage Ltd used to own 40% of Ampang Investments but disposed
of the stake to Hongkong Land Holdings Ltd in 2007. As at last year, Hongkong Land
still held the stake. The remaining 30% is held by Sultan Sharafuddin and Syed Yusof.

 Initial plans submitted by Ampang Hotel indicate that the hotel and multi-storey car
park on two adjoining lots will be torn down. In its place, a 39-storey tower with 240
office suites, a 54-storey hotel block with 530 rooms and 205 units of serviced
apartments will be constructed. A sky bridge will link the towers.

 In addition, there will be two 41-storey towers housing 266 serviced apartments. There
will also be a 10-storey annexe podium which will house the lobby, retail space and car
park. The proposal may be altered, depending on conditions set by DBKL.

 There is no information on the commencement or completion dates of the project as

yet.

 Both parcels are freehold and measure 182,906 sq ft or 4.2 acres in total. The smaller
parcel, Lot 157, measures 42,588 sq ft. Lot 1208, where the hotel is located, measures
140,318 sq ft.

 This will make it the fourth commercial building and the third established hotel within a
500m stretch along Jalan Sultan Ismail to be demolished in recent years.

 In 2011, two companies — Hotel Equatorial (M) Sdn Bhd and Tradewinds Corp Bhd,
which is controlled by Tan Sri Syed Mokhtar Albukhary — decided to unlock the value
of the prized land parcel in Kuala Lumpur by replacing their old structures with modern
and taller buildings.
 Tradewinds Corp demolished not one but two buildings — the 40-storey Crowne
Plaza Mutiara Hotel and the 32-storey Kompleks Antarabangsa office building in
2013. An earlier plan for an integrated mega project, Tradewinds Centre, on the
site was given a plot ratio of 10.55. Subsequently, the plot ratio for the
development, renamed Tradewinds Square, was increased to 16. The tallest
tower is expected to be 775m high.
 As for Equatorial, the owners decided to tear down the 18-storey building built in
1973 and are now building a 53-storey office-cum-hotel in its place.

 Until recently, Dewan Bandaraya Kuala Lumpur (DBKL), the approving authority for
development projects in Kuala Lumpur, granted very low plot ratios. They were
 between eight and 10 about seven years ago. Currently, developers are being given
plot ratios of 12, 14 and up to 16.

Subang Jaya's Summit Hotel gets RM20m to RM30m upgrade (Bernama / The Star,
28th July 2016)

 The Summit Subang USJ Management Corporation will spend between RM20 million
and RM30 million to refurbish the Summit Hotel Subang USJ in order to maintain its
four-star rating.

 The investment will be undertaken after a new operator for the hotel has been
identified. There are plans to refurbish 332 rooms, coffee house, ground floor lounge,
kitchen and other parts of the hotel.

 Currently, the hotel tower is operated by the Summit Hotel Management Sdn Bhd.

 The Summit Subang USJ Management Corp was incorporated by AmFIRST Real
Estate Investment Trust (AmFIRST REIT) and individual owners.

 AmFIRST REIT owns an 82 per cent stake in the hotel.

ViiA Residences at KL Eco City to be launched at new benchmark price

(TheEdgeProperty.com, 9th August 2016)

 S P Setia Bhd plans to launch ViiA Residences at KL Eco City, Kuala Lumpur, by end-
August at prices starting from RM1 million.

 The leasehold serviced apartment development, which carries an estimated gross

development value (GDV) of RM450 million, will offer 326 1-, 2- and 3-bedroom units
with built-up sizes ranging between 650 sq ft and 1,300 sq ft. The selling price,
averaging RM1,600 per sq ft, sets a new benchmark pricing for such properties in the
Mid Valley and Bangsar areas.

 ViiA Residences is S P Setia’s second serviced residence in KL Eco City.

 S P Setia launched the first residence in KL Eco City back in 2012. The 708-unit
Vogue Suites was sold at an average selling price of RM1,300 per sq ft. It has since
been fully taken-up.

 The 40-storey ViiA Residences is part of the 25-acre KL Eco City transport-oriented
development (TOD) that features pedestrian link bridges that connect the residential
towers to the light rapid transit (LRT) station, Mid Valley City as well as The Gardens
shopping mall.

 The project is surrounded by grade A office buildings, a 252-room four-star business

hotel, three million sq ft of prime office space, a 200,000 sq ft retail mall and a unique
two-tier road system.

 The project targets high-income young professionals aged between 30 and 45 years
old who want a vibrant city lifestyle and are looking for a home in an integrated
development that offers various facilities and amenities within walking distance.
 Construction will begin end of this year with expected completion by 2020.

 Meanwhile, future developments within KL Eco City will offer two more residential
phases and a 42-storey office block - the highest tower in the integrated development,
all of which are slated to be unveiled next year.

Exciting times ahead for IOI Resort City (The Star, 13th August 2016)

 IOI Properties Group Bhd’s Resort City township, which is located next to Putrajaya, is
quickly becoming “the place to be” as it offers a myriad of attractions for the Southern
Klang Valley crowd.

 IOI Resort City houses world-class accommodation and attractions such as its five-star
Putrajaya Marriott Hotel, four-star Palm Garden Hotel and the magnificent 18-hole
championship golf course, which enhances the already lush greenery of the resort.

 Surrounding this golf course with rolling greens are resort residences like Puteri Palma
Residences, the luxurious Clio Residences, and the latest vibrant Conezión Retail
Residences.

 The township will soon see the opening of it latest Le Méridien hotel next week,
targeted to the interstate business clientele.

 The hotel will have exclusive connection to IOI City Mall via the ground level and will
stand at 21 storeys high with a capacity of 363 hotel rooms.

 The resort city locale enjoys more than 1.8 million population within a 20-minute
driving radius as of the year 2008, and it is expected to grow an additional 14% by the
year 2020.

 The popular shopping mall IOI City Mall acts as the anchor of the township as it
attracts half a million visitors per week from neighbouring towns such as Kajang,
Bangi, Banting, Serdang and Putrajaya.

 Apart from having a good tenant mix, the success of IOI City Mall is the fun-filled and
unique entertainment components which is a major crowd-pulling factor: District 21 -
the 70,000-sq-ft Apocalypse-themed Adventure Park and Icescape Ice Rink - the 30m
by 60m “biggest ice rink in Malaysia.

 IOI Properties has started the second phase of the IOI City Mall, where there will be an
addition of one million sq ft (total 2.5 million sq ft) and a major convention centre.
Earthwork will commence end of this year.

 IOI Resort City is spread over 788 acres, where 400 acres have been used, with the
remaining 388 acres set for development over the next 10 years. Going forward, the
group is lining up more projects, which are mostly for mixed usage such as retail and
offices. These include The Jewel Integrated Development, The Gems Residences, IOI
City Mall Phase 2, Par 3 Residences and the Clio Collection of Residences.

 The township is well connected to major Klang Valley highways such as the SKVE,
LDP, ELITE, MEX, Sungai Besi Highway and North-South Highway.
Tabung Haji on falling rental yields (The Star, 8th August 2016)

 Lembaga Tabung Haji (LTH) decided to let out its Grade A office building at below
market price as the pilgrim fund would rather see it occupied than being empty.

 The RM5 per sq ft package for Menara TH Platinum is for a limited period from May to
the end of the year. And it is only for five floors at the lower levels. This rate is below
prevailing rates for Grade A office space in the city centre, where rentals average
between RM7.50 per sq ft and RM8 per sq ft.

 The pilgrim fund is the owner of the Grade A 38-storey office tower near the Petronas
Twin Towers in Kuala Lumpur. The office tower, which was bought for about RM450
million, has been empty for over a year.

 LTH has 7.8 million to 8 million sq ft of lettable properties locally. About 7% was
vacant, mostly at Menara TH.

 Domestically, it invests in commercial buildings and development projects.

 Currently, the pilgrim fund through its property arm, TH Properties, is constructing a
333-room five-star hotel in the vicinity of KLIA. It is slated to open next year. The
RM439 million development is on 17 hectares and will have a convention centre that
can seat 1,500 people. It will also be the pilgrim fund’s new haj complex.

 The pilgrim fund is also mulling over a real estate investment trust (REIT). Besides
Menara TH Platinum, the fund’s other local property holdings are the Tabung Haji
headquarters in Jalan Tun Razak, TH Selborn in Kuala Lumpur, Menara TH Glomac in
Petaling Jaya, Block D of Plaza Sentral and Bangsar South Tower 2A, It also owns
several hotels in the country and assets overseas in Saudi Arabia, UK and Australia.

Project boasts modern facilities (The Star, 19th August 2016)

 Designed to incorporate modern conveniences with the river system, Ekovest Bhd’s
Kuala Lumpur River City (KLRC) project will push Gombak River back to the forefront
of a sustainable urban lifestyle.

 The project to transform the northern region of Greater Kuala Lumpur into a top-notch
river city is situated within precincts 1 and 2 of the River of Life (RoL) plan, an urban
rejuvenation project that stretches along the Gombak River and integrates the river
system with city planning.

 Launched in 2012, RoL is a project headed by the Government in collaboration with

the private sector to clean up and beautify 10.7km of the river that is divided into 11
precincts and ends at Mid Valley, with additional plans to redevelop the surrounding
area.

 The KLRC development, complemented by the completion of RoL in 2019, will inject a
fresh boost of energy to the old Gombak neighbourhood and transform it into a region
that redefines the modern city life for its residents.

 Ekovest’s pioneer launch in the KLRC project is EkoTitiwangsa, a residential

development that offers three towers with a gross development value (GDV) of RM600
million. Block C with a total of 270 units ranging from 825 sq ft to 1,240 sq ft and priced
from RM750 to RM1,200 per sq ft was launched in 2015 and is currently 70% sold.
 Tower A and Tower B, which will comprise 240 units and 180 units respectively, are
expected to be launched by the end of this year subject to the market condition,
though all three towers had target completion dates for 2018.

 KLRC will also be offering retail component in its first commercial development,
EkoRiver Centre. It will consist of a 600,000 sq ft retail component spread over six
floors, a tower that will house corporate offices and hotel, convention centre and a
public park

UMLand’s corporate exercise to be completed by year end (TheEdgeProperty.com, 16th

August 2016)

 United Malayan Land Bhd (UMLand) is undergoing a corporate exercise to streamline

its activities to ensure greater growth.

 One new area that UMLand has ventured into is the provision of hospitality services for
some of its high-rise developments.

 Moving forward, the company plans to offer transient hospitality accommodation under
its own brand — Suasana — in some of its townships. The 5-star hotels will, however,
be managed by international operators.

 To date, UMLand has received positive response to its township launches. Launched
in September last year, Imperial Jade in Seri Alam, Johor, has seen an 80% take-up
rate. The development comprises 440 houses with built-ups of between 1,665 sq ft
and 2,213 sq ft, priced from RM539,900 for 1-storey houses and RM672,000 for 2-
storey ones.

 The group’s planned project, which is yet-to-be-named, is a 13-acre mixed-use

development in Precinct 7, located next to Putrajaya Sentral. The project will offer
serviced apartments, branded residences, boutique offices, shopoffices, a hotel, a
retail mall, and office tower. The project with a gross floor area (GFA) of 300 million sq
ft will be connected to the Express Rail Link and mass rapid transit, and there is a high
possibility that the proposed Kuala Lumpur-Singapore high-speed rail will pass by it. A
bus terminus will also be located there.

 In the immediate future, UMLand does not have any launches lined up and it is still
looking for suitable land, especially in the Klang Valley.

 UMLand’s land bank that has been approved for development totals 5,872.3 acres,
with an estimated gross development value (GDV) of RM19.952 billion. Its
undeveloped land bank stands at 1,755.7 acres with an estimated GDV of RM10.977
billion.

 Among its major developments are Johor Halal Park and Seri Alam as well as niche
projects such as Somerset Puteri Harbour, The Wave, Suasana Iskandar Malaysia,
UM City and Viridea Lakeside, all in Iskandar Malaysia, Johor.

 In the Klang Valley, its projects include township developments Seri Austin, Seri Putra
and Mahkota Hills and niche project Star Residences.

IGB to sell Renaissance KL for RM765 mil (theedgemarkets.com, 15th August 2016)
 IGB Corp Bhd has announced a proposed disposal of Renaissance Kuala Lumpur
Hotel (Renaissance KL) by Great Union Properties Sdn Bhd, a wholly-owned
subsidiary of IGB to Ventura International Sdn Bhd for RM765 million.

 The disposal is as a going concern free from encumbrance and liabilities, with all
assets and items used in connection with the operations of the hotel business that are
owned by Great Union and are located at Renaissance KL as at the completion of the
sale and purchase agreement (SPA), including all buildings, structures, plant,
machinery and equipment, and fitting, furnishings and fixtures thereon together with
the business of the hotel and all activities related thereto.

 Renaissance KL contributed approximately 8% to the Group's revenue for the financial

year ended December 31, 2015 (FY15).

 The proposed disposal is expected to complete within four months from the date of
fulfilment of the conditions precedent as specified in the SPA.

 The proposed disposal represents an opportunity for the Group to unlock values on its
low-yielding investment, and the proceeds will be redeployed for more yield and value
accretive investments.

Le Meridien Putrajaya makes its debut at IOI Resort City (TheEdgeProperty.com, 19th
August 2016)

 IOI Properties Group Bhd and Starwood Hotels and Resorts Worldwide Inc have
opened Le Meridien Putrajaya, located within IOI Resort City, near Putrajaya.

 This marks the hospitality brand’s third property in Malaysia after Le Meridien Kuala
Lumpur and Le Meridien Kota Kinabalu.

 Located about a 30-minute drive from the Kuala Lumpur International Airport (KLIA),
Le Meridien Putrajaya is situated close to Putrajaya’s key commercial and retail
districts. The hotel is also close to IOI City Mall, the Botanic Gardens and the Putra
Mosque.

 The hotel features 353 guestrooms and suites, boasting expansive city or garden
views. It also offers 15 venues for business meetings, conferences and social
gatherings as well as a grand ballroom of nearly 26,910 sq ft. Recreational facilities
include a swimming pool and kids’ pool, and restaurants.

 The hotel is targeting a 60% occupancy rate for its first year.

 Meanwhile, the group plans to add 10 more hotels in Malaysia in the next five years.
Starwood will be opening Element by Westin in Kuala Lumpur, sometime between
December and January, depending on its completion.

BBCC invests RM30 mil in transit hub (TheEdgeProperty.com, 27th August 2016)

 Bukit Bintang City Centre Development Sdn Bhd (BBCC) will be investing RM30
million to create the central transport hub within the BBCC (former Pudu jail site)
development.

 The transit hub will connect the Light Rail Transit (LRT) station, the future Mass Rapid
Transit (MRT) station and the monorail station.
 The 19.4-acre project with a gross development value (GDV) of RM8.7 billion is
located at the intersection of Jalan Imbi and Jalan Pudu and is being developed by a
consortium comprising UDA Holdings Bhd, Eco World Development Group Bhd and
the Employees Provident Fund in a 40:40:20 share structure over a period of between
8 to 10 years.

 The integrated development will comprise a 1 million sq ft retail mall, a lifestyle street,
entertainment hub, hotel, 350 units of 715 sq ft to 1,423 sq ft offices within the Strata
Office Tower, six luxury residential towers, an 80-storey Signature Tower, parks and
gardens, and finally the transport hub.

Proper retail mix’ ensures success of shopping malls (The Star, 22nd August 2016)

 The oversupply of retail malls in Malaysia seems to be a rising issue now with the
industry not only witnessing similar tenancy mix and offerings but also sudden closure
of businesses while some postponing their openings.

 Weak consumer sentiment, intense competition for tenants and changing consumer
preferences and behaviour are some the factors that has resulted in the shopping mall
business to come under pressure, according to reports.

 Despite all that pessimism, malls will continue to do well if they are developed in the
right location and has proper retail mix. The success of a mall is all about bringing in
sales where retail mix, overall offerings to customers, location and accessibility play a
pertinent role as well.

 The retail occupancy in the Klang Valley is in the range of 78% now compared to the
historical figure of 90% and above. It was reported that occupancy and average rental
rates for malls in Kuala Lumpur and Selangor had suffered last year.

 Data from the National Information Centre as at end 2015 showed that Malaysia had
148.85 million sq ft of existing retail space, with another 16.2 million sq ft incoming and
a further 11.08 million sq ft being planned.

 In the Klang Valley alone, there were 241 shopping centres with 64.1 million sq ft of
space, with average occupancy of 80.4% in the same period.

 Separately, Suria KLCC’s rental reversion rates was reported to be healthy at about
3% to 4% (year-on-year) and averaged about RM30 per sq ft as at the second quarter
of 2016. Its second-quarter occupancy rate fell to 96%, from 98% in the first quarter of
2016, likely due to the reconfiguration of the mall’s Level 1 to a men’s luxury precinct.
New brands are being brought on board, while retail sales are in the healthy range of
8% y-o-y despite the challenging environment.

 Suria KLCC Sdn Bhd has three malls under its portfolio – Suria KLCC, Alamanda in
Putrajaya and Mesra Mall in Trengganu. The group continues to see single-digit
growth in all its malls despite the cautious consumer sentiment.

 The moving annual turnover of retails at Suria, taking into account seasonality at
KLCC, was about RM2.5 billion from August 1, 2015 till July 31, 2016, while Alamanda
achieved about RM433 million and Mesra about RM120 million.

 With a net lettable area (NLA) of 1,172,730 sq ft, Suria KLCC attracts over 45 million
visitors per year, followed by Alamanda and Mesra, each bringing in over 12.5 million
 and 5.1 million visitors. Alamanda has a NLA of 592,115 sq ft and Mesra 220,993 sq ft.
Suria KLCC which has almost 380 retail stores takes the lead among other malls in
terms of average spend by foreigners.

 A new development is underway that will see about 340,000 sq ft retail podium, a 75-
storey office towers and a 54-storey five-star business hotel being developed at a site
known as Lot 185, adjacent to Suria KLCC. Slated for completion in late 2019, this
mixed commercial development is a joint venture between KLCC Holdings Sdn Bhd
and Qatari Investment Authority. Suria KLCC will be the retail operator.

Renowned hotel opens in Putrajaya (The Star, 27th August 2016)

 Le Meridien Putrajaya marks the third addition to the brand’s presence in Malaysia
after Le Meridien Kuala Lumpur and Le Meridien Kota Kinabalu.

 Located in IOI Resort City, the hotel aims to serve leisure and business travellers with
353 contemporary guestrooms and suites with a city or garden view, 15 venues for
meetings and conferences, a 2,500sqm function space, recreational facilities as well
as wine-and-dine experiences with eateries Latest Recipe, Le Mei and the Latitude
Bar.

 The new five star hotel complements existing facilities within the IOI Resort City
destination. It adjoins the award-winning IOI City Mall that offers a multitude of
shopping, dining and entertainment options including an Olympic size ice-skating rink
and an indoor adventure park, as well as an 18-hole golf course within walking
distance.

 Starwood Hotels and Resorts Worldwide Inc has accelerated growth in Malaysia
especially in the past few years with 30 hotels in operations. The group is on track to
add another 10 new hotels in the Starwood portfolio across the country in the next five
years.

M101 SkyWheel’s SoFo units attract over 1,000 potential buyers

(TheEdgeProperty.com, 2nd September 2016)

 The 1,200 SoFo (Small Office Flexible Office) units of the M101 SkyWheel
development, by M101 Holdings Sdn Bhd, have received encouraging response as
over 1,000 potential buyers have registered their interest since the project was
previewed early this year. To be officially launched in November this year, the units
with built-up sizes ranging from 400 sq ft to 800 sq ft, have indicative selling prices
ranging from RM1,200 per sq ft to RM1,500 per sq ft.

 The integrated M101 SkyWheel development comprises two 78-storey towers and a
Ferris wheel, which is 60m in diameter, that will be built on the 52nd floor in between
the two towers.

 Located on a 2-acre site between Jalan Raja Muda Abdul Aziz and Off Jalan Tun
Razak in the Kuala Lumpur city centre, the freehold project has a gross development
value (GDV) of RM1.5 billion. It mixed use components include the SoFo units, a retail
mall, office space and serviced suites, as well as a hotel.

 Meanwhile, the group has partnered Studio F A Porsche for the interior design of its
96-unit luxury suites which will have an estimated selling price of above RM3,000 per
sq ft. The development will also feature a 4-storey 200,000 sq ft retail mall, high-end
 office suites and Asia’s first Planet Hollywood Hotel.

 Construction will start this year after the groundbreaking ceremony on September 8,
2016 with the overall construction to take about six years.

(TheEdgeProperty.com, 2nd September 2016)

 WCT Holdings Bhd’s Paradigm Mall Petaling Jaya aims to achieve 100% occupancy
soon following the opening of 22 new outlets in the mall recently.

 The mall recently welcomed new brands such as MC Vogue, Nathan’s Famous, JDF,
Vareo and a number of F&B offerings including Taiwan Spicy Noodle House,
MyeongDong Topokki, Hong Kong Sheng Kee Dessert, Pizza Hut Restaurant, Pho
Street and the Seaweed Club & Hot Wings.

 There are also new consumer merchandise and services outlets such as Okashi
World, Wax Zone, Dunlopillo, Majestic Leather Restore, Sunday’s and TMPoint.

 The mall currently has an occupancy rate of 93%, out of which 8% are new tenants.

 Going forward, reputable brands such as Hokkaido Baked Cheese Tart, F.O.S,
Mammamia Gelato Italiano, DJI and Sensuous Lingerie are also set to open for
business in the fourth quarter of the year.

 Paradigm Mall PJ is part of WCT’s Paradigm Integrated Commercial Development,

which also comprises The Ascent Paradigm, The Azure Serviced Residences and the
soon-to-be open New World Petaling Jaya Hotel.

‘Recovery will be a gradual process’ (TheEdgeProperty.com, 7th September 2016)

 Ireka Group of Companies has been keeping a relatively low profile in the property
development sector in the past few years. Infrastructure and construction have always
been key income contributors to the group.

 The group listed Aseana Properties Ltd on the London Stock Exchange in 2007 to
undertake property development activities in Malaysia and Vietnam. Ireka
Development Management Sdn Bhd was appointed the exclusive development
manager to manage Aseana’s portfolio in Malaysia and Vietnam.

 Ireka mostly develops high-end and luxury projects under its luxury brand i-Zen, and it
has since completed projects such as Tiffani by i-ZEN, i-ZEN@Kiara I and SENI Mont’
Kiara — all in the upscale neighbourhood of Mont’ Kiara.

 In 2011, the developer announced its intention to set its sights on mid-priced property
development and industrial development — a change in strategy. zenZ — a new brand
that incorporates five characteristics — economical, evolutionary, efficient, essential
and eco-conscious — was created for this segment.

 Kasia Greens, handed over in June last year, is one of the first projects under the zenZ
brand. The developer’s maiden landed home project in Nilai consists of 142 units of 2-
and 3-storey terraces and superlink units on a 17-acre freehold tract.

 Over the past three years, Ireka Development Management has launched several
projects including The Ruma Hotel & Residences, a five-star global branded hotel and
 luxury serviced residence project in Jalan Kia Peng in the city centre, as well 10
Shopz, a shopoffice development in Nilai. The Ruma is scheduled for completion by
the third quarter next year, while 10 Shopz will be handed over by 1Q2017.

 In the next 12 months, the group is planning to roll out three projects with a total gross
development value (GDV) of more than RM700 million. The three launches planned
are Asta Enterprise Park in Bukit Angkat, Kajang; dwi@Rimbun Kasia at its Rimbun
Kasia township in Nilai; and Kajang Residences.

Asta Enterprise Park

 First guarded industrial development in Bukit Angkat, spanning 31.5 acres and
has a GDV of RM269 million.
 3 phases to be launched together: phases 1 and 3 (18 units each of 3-storey
semi-dee industrial units).
 Typical built-up of 8,594 sq ft, on a 70 by 165ft plot. Double void warehouse space
at the rear of the unit with height of warehouse space from 30 to 40 ft.
 Priced from RM3.93 million, the units are equipped with a one-tonne double-door
lift and high-speed broadband connectivity. The design allows flexible and
multifunctional usage, such as for showrooms or office spaces.
 Phase 2, meanwhile, will offer six vacant industrial lots, ranging from half an acre
to slightly more than an acre, priced at RM180 per sq ft.
 The project is targeted at existing small and medium-sized enterprise (SME)
owners from surrounding areas such as Balakong, Cheras, Serdang and Kajang,
who are looking to upgrade or operate under one roof.
 It is accessible via the Cheras–Kajang Expressway, Kajang Dispersal Link
Expressway (SILK) and Kuala Lumpur–Seremban Expressway.
 Phase 1, which was opened for preview in March, has recorded circa 50% sales.

Rimbun Kasia
 Low-rise apartment project dwi@Rimbun Kasia in Nilai slated for launch by
1Q2017.
 The RM130 million project on a 3.9-acre plot will offer 382 apartment units in a 10-
storey block. Built-ups for the dual-key units range from 650 sq ft to 980 sq ft, with
a minimum indicative selling price of RM297,480. To date, more than 2,000
registrations have been received.
 Guarded and gated project with anti-climb wall perimeter fencing and 24-hour
CCTV surveillance at the entry and exit points.
 Target market will be students and people working at the airport and Putrajaya.
 The 30-acre Rimbun Kasia is Ireka Development Management’s first township
development under the zenZ brand. The development will also feature town villas,
commercial village and condominiums as well as a 2.3-acre central park.
 Located about 10-minute drive from Nilai Toll via the North-South Expressway and
Maju Expressway, and 20-minutes from Kuala Lumpur International Airport.
Rimbun Kasia is also connected via the Nilai Sentral Bus Terminal, Nilai KTM
Komuter Station and Salak Tinggi ERL Station.
 Nearby facilities include Nilai Square Commercial Centre, Nilai Spring Golf &
Country Club, Giant Hypermarkets, Nilai International School, Nilai University and
INTI International University & Colleges.

Kajang Residences
 Located 1.5km from the Kajang MRT station, the condominium project is set to be
launched by mid next year.
 It will offer 568 units and have a GDV of RM290 million.
Upscale residences for vibrant lifestyle (The Star, 15th September 2016)

 Located in Jalan Bangsar, ViiA Residences is SP Setia’s latest project in its KL Eco
City development. The new serviced apartments within a 10.1-hectare leasehold land
of the Central Business District offers residents convenient living. It boasts 326 units of
1, 1+1, 2 and 3 bedrooms with built-up sizes between 650 sq ft and 1,300 sq ft.

 With a gross development value (GDV) of RM450 million and an average of RM1,600
per sq ft, the units are priced from RM1 million onwards.

 Except for the one-bedroom unit, the other three variants come with basic furnishings
such as kitchen cabinet, oven, hood and hob, refrigerator, washing machine cum
dryer, air-conditioner and master bedroom wardrobe.

 The facilities are located on different levels of the 40-storey building to promote
different pockets of relaxation for residents to recharge and unwind.
 Level 1: a children’s playground
 Level 3: a private lounge and an audiovisual (AV) room
 Level 22: rock formations for rock climbing
 Top-most level: a 25m infinity sky pool, steam and sauna room, a pool lounge,
BBQ area, gourmet kitchen, a yoga deck, dance studio and gym.

 The luxurious residences are targeted at high-income young professionals, smaller

families and private investors who seek high returns from rental and capital
appreciation in the future.

 Adjoining the ViiA apartments is the upcoming 252-room ViiA Hotel.

 KL Eco City is an integrated development with grade A office buildings spanning over
3 million sq ft of prime office space and a 300,000sq ft retail hub and mall.

 Connectivity is key: residents will be able to access The Gardens and Mid Valley City
via a pedestrian link bridge. Additionally, there will be a two-tier internal road system
designed to provide multiple entries and exit points around KL Eco City development.

 Also on-going is the RM30 million integrated transport hub that will house the existing
Abdullah Hukum LRT station and a new KTM Komuter station.

 SP Setia offers the build-then-sell (BTS) scheme whereupon signing the Sale and
Purchase Agreement (SPA), 10% deposit is paid. There are no progressive billings like
loan interest from construction period until the completion of the property, towards
which the balance of 90% will be paid.

 ViiA Residences is expected to be launched by the end of the month, and is slated for
completion in 2020.