Property Malaysia

The other day we were driving past the Bukit Jalil highway when we saw that Bandar Kinrara hasd launched another phase of their township. So as usual, we dropped by their sales office at BK5 to check it out.

It turned out to be a very exclusive and luxurious ‘private residence’ townhouses, named The Oasis. It very high-end, with 32 units in a gated community, with clubhouse facilities, and lush landscaping. This project is currently open for registration.

This is an ongoing series of reviews for all the currently launched phases in Bandar Kinrara. For our views on the location, quality, accessibility and overall take of the entire Bandar Kinrara development, please check our our Development Review:

Development Review: Bandar Kinrara

In addition to that, you can check out the other phases reviewed before by Property Malaysia (some of them may have been sold out):

Harmony (double storey linkhomes)
9@Kinrara (double storey linkhomes)
Damai@Kinrara (double storey linkhomes)
Spektra (9A4)

As for The Oasis, it is located on a slightly elevated land at one corner of the Bandar Kinrara. The site itself is divided into 4 Precincts, each precinct has 2 to 3 blocks. Each ‘block’ is actually one 2 to 4 units, all linked with a covered walkway. The entire phase is more of a resort concept, with lush greenery, sparse roads and big, big bungalows. Even the units are generously spaced out, with no fences but lots of green area in between. Each precinct has a common driveway, but it is in itself a big area, enough to park as many cars as you can own.

With the perimeter fencing and gated concept surrounding the Oasis, the security is maintained by one single entry and exit point.

Looking at the units, there are basically 3 types of layout available, with either the lower floor or the upper floor for your choice. Both upper and lower units have their own separate entry from the covered carparking, and they all come with a private garden terrace, which is a large balcony with two planting areas (except type C, which the balcony is quite small).

Because these are townhouses, they would most probably have strata titles, therefore the units do not have any yard or garden as would a normal bungalow house. The units are about 2000+ sq.ft., the exact size is not given. They come with 3+1 bedrooms and 3 baths, and the living and dining area comes with an addition of a family area with an attaching balcony. For type A, the living is set on a lower split level from the rest of the house. All the units are actually set on a split level footprint, so that even the lower floor is an elevated level at the living and garden terrace area.

The external façade of the units looks quite appealing, with earthy colours and tiles, but the finishing internally is quite bland.

We’re not quite warm to the idea of townhouses ourselves, but for those who do, this warrants a look. The units are priced from RM600k to RM900k, which is a little steep, but they have some good things going for it, like freehold land, good facilities, 24-hour security, impressive landscaping and big spaces.

One thing you might consider is that for that price, if would you prefer a corner unit of a linkhouse, a small bungalow or this kind of unit. For people who like privacy and some garden space, this may not be very suitable. But having said that, this place is quite impressive and beautiful.

We first encountered this development sometime in October last year, when we attended one of those many local property expos. At that time they were taking bookings, not really launching yet. So every now and then since that time, we called them up to check on the progress of their permits (DL? AP? BP?).

Then the other day, we received this fancy promo in the mail from them, saying that the official launch is on, and lo and behold, the next day we saw the full double page ad in the papers, announcing the arrival of Kiara 1888 in the ultra-competitive and slightly congested Mont’Kiara condo market.

OK, talking about Mont’Kiara.

Well, we’ve reviewed quite a few properties in this area, and basically perks and problems are similar. There is a list of properties reviewed earlier at the end of the article, so you are advised to check them out to read our views on them. They are listed at the end of this article, just click on the links.

But in a nutshell, Mont’Kiara is pretty heavily developed, and the roads can’t cope with the heavy traffic. Just drive there during peak hours and you can see what we mean. This is by far the biggest issue in the area. Other than that, competing condos make the pricing attractive, and the developers are offering lots of free packaging and top-notch facilities and landscaping to entice the buyers.

To get to this place, go to past Plaza Mont’Kiara, until you see Jalan Kiara 3. There will be existing condos on your left and right (Aman Kiara and Lanai Kiara respectively), the Garden International School. Further down on your right after Laman Suria (confusing names, eh?) is the site for Kiara 1888.

If you think that this whole area is already congested with too many condominium projects, then you might be right. If you have the opportunity to see a development map of the Sri Hartamas / Mont’Kiara area, you can see that there are rows and rows of small plots owned by private owners and development companies. Sooner or later, the parcels of land that have yet to be developed will be.

Anyway, lot no. 1888 is this project, hence the name. At the moment, Kiara 1888 is at the very edge of Mont’Kiara bordering Segambut. In fact, just a short distance away from the site is the Malay kampong, with the narrow roads and village houses.

Kiara 1888 is offering two types of units – the low rise, larger villa units, and the highrise, smaller condo units. Let’s look at the villa units first.

The villas are 5-6 units high, with the top two floors a penthouse duplex. For the typical units, there are 2,357sq.ft, 2,390sq.ft and 2,314sq.ft. Penthouses are at 3,982 and 3,950sq.ft. For the villa typical units, the prices range from RM920,000 to RM1,600,000, which is about RM370 to RM420psf.

For the highrise condo 26-storey tower, the more affordable units are sized 1,927sq.ft, 1,238sq.ft and 1636sq.ft. Duplex units are sized are 3,272 sq.ft and 3,542sq.ft and penthouse are 3,466 and 2,723sq.ft.The typical units are priced at RM400,000 to RM1,300,000, which calculates to a slightly cheaper RM320 to 350psf.

The villas are of course luxuriously spaced at 2300sq.ft, 3+1 rooms, private lift lobby, and family room. From the 3 unit types available, we obviously prefer type B, which is the corner unit with more windows space for all the rooms. The other intermediate units are not bad either, the dining room overlooks a void airwell for air circulation. There are actually only two typical condo unit types, the larger 1,927sq.ft and smaller 1,239sq.ft. Both types are well-designed, but without the frills found in the villa units.

For common facilities, they are providing almost the same as the competition, it would a disadvantage not to do so. The landscaping is quite impressive, especially the entrance and surrounding the pool deck. There is also a nature park with sprouting showers, adventure playground, zen garden, etc.

Looking at most of the available projects in Mont’Kiara, the average price is about RM350 to 450psf, and they have priced this project thereabouts.

With such stiff competition in this area, the question we always post to developers is: “What are you offering that is above the competition?” What they answer and how they answer tells us a lot about the developer. Anyway, for Kiara 1888, the key selling point is that it is just a few doors away from Garden International School. For the rest of us who can’t afford don’t send our children to that exclusive school, the attraction is the low rise villa units, which are quite reasonably priced. Other than that, we would think that the overall concept of the project is quite appealing, and if you are taken in by the way it is marketed, than this is for you. If not, there are probably 20 other projects waiting for your attention.

Other properties in Mont’Kiara and Sri Hartamas that have been reviewed by Property Malaysia :

Changkat View
Hartamas Regency 2
Kiara 1888
Kensington Park
Kiaraville
Kiaramas Ayuria
Hijauan Kiara
The Verve Suites
Tiffani by i-ZEN
Boulevard Tower, Solaris Dutamas
Mont’Kiara Meridin

This is an ongoing series highlighting currently launched properties in Penang that appeared in the special pullout in the Star on 29th January 2006. This series of postings are for the benefit and reference of interested buyers.

For others in the series, please see the following:

Penang Property Focus Part 1: Harbour Place and Taman Sri Bayan
Penang Property Focus Part 2: Putra Marine Resort and the CEO
Penang Property Focus Part 3: Bandar Laguna Merbuk and Taman Seri Pantai
Penang Property Focus Part 4: Alila and Bayu Mutiara

FEATURED ARTICLES

the Mayfair Penang

This is one of the more upmarket new projects in Georgetown. Located on Millionaire’s Row, there are 29 floors housing 48 units of 5000sq.ft. luxury suits with a panoramic view of the northern channel.

The hotel-like facilities include badminton, basketball, tennis, squash and table tennis courts, and a fully equipped gymnasium. Besides that, there is 24-hour security, internet broadband and individual basement storage.

Land is freehold, and is 70% completed at the moment.

This project is jointly developed by Dolphin Square S/B, a subsidiary of the public-listed Leader Universal Holdings Bhd and Applied Construction & Engineering (M) S/B, and subsidiary of United Engineers (Singapore) Pte. Ltd., which is listed in Singapore.

Other projects by the same people are the Leader Garden is Penang, Juta Mines Condominium in Mines Resort and commercial cum shopping centre in Dataran Pahlawan, Melaka.

D’Residence, Bayan Mutiara

PDC Properties, the developer is a subsidiary of the Penang Development Corporation. Bayan Mutiara is their flagship RM2 billion mixed development project, located along the south coast of Selat Utara.

The RM260million D’Residence within Bayan Mutiara is a exclusive freehold upmarket project on 38.4 hectares of flat land by the sea. Altogether there are 229 landed units, at the moment for phase 1, they are selling 113 units consisting of 70 units of superlink homes, 14 units of Twin Bungalows, 15 units of Supreme Bungalows and 14 units of Premium Bungalows. The homes are surrounded by top-notch landscaping, water features and high security.

50% of phase 1 has been sold out, completion is in 2008. Price is from RM880,000 to RM2.8million.

Next: Part 6 – Bandar Baru Air Putih and Taman Seri Bayan.

Right, we’ll be heading off to the Mega Malaysia Property Showcase in awhile. We’re not really expecting to be surprised, but as we always say, these expos are a good place to gauge the property market sentiment and trends.

There was a long list of the exhibitors in the papers yesterday, looks like a good mix of big and small players.

We’ll do a write-up of the event after we come back, hopefully. If you need more info on the event, read here.

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On another note, if you remember this earlier post on the Kuwait Finance House planning to invest in local property big time (read it here), we saw a full page ad on the Star Jobs today (page 7). Looks like their looking for a lot of people - for investment, fund management, risk management, you get the picture…

Anyone interested?

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We’re also doing reviews of a few prominent, new projects in Mont’Kiara soon. Keep a look out.

We just saw this on the banners along the road - the 16th Mega Malaysia Property Showcase will be held this weekend, details are as follows:

The event will be officiated by Housing and Local Government Minister Datuk Seri Ong Ka Ting and is organized by Exhibition Guide (M) Sdn Bhd.

We’re trying to get a list of property developers that are participating in the event, but it seems that exhibition doesn’t have much of a web presence. Maybe we’ll try calling them later today.

Also looking ahead, MAPEX (KL) is coming soon, too. It’ll be on 3-5 March. This event is organized by REHDA Wilayah Persekutuan (KL) Branch, and will be at the MidValley Exhibition Centre (MVEC).

This is an ongoing series highlighting currently launched properties in Penang that appeared in the special pullout in the Star on 29th January 2006. This series of postings are for the benefit and reference of interested buyers.

For others in the series, please see the following:

Penang Property Focus Part 1: Harbour Place and Taman Sri Bayan
Penang Property Focus Part 2: Putra Marine Resort and the CEO
Penang Property Focus Part 3: Bandar Laguna Merbuk and Taman Seri Pantai

FEATURED ARTICLES

Alila, Tanjung Bungah

Alila is gated community development in Tanjung Bungah, boasting of lavish resort homes surrounded by tropical landscaping (at a cost of RM5mil). This 18-acre development is also built to ‘feng shui’ principles. For the landed units called the Garden Villas, there are 3-storey Acacia and Banyan types, and Cengal are 2-storey units.

The developer is emphasizing on multi-tiered security, with CCTV surveillance all around the project. The Garden Villa clubhouse comes with playground, gymnasium, jacuzzi, swimming pool, etc.

There is also Alila Horizons, a twin tower 19-storey condominium, with penthouses and duplexes.

Bayu Mutiara, Juru

Bayu Mutiara is developed by Mutiara Zaman, which is a subsidiary of AMDB Bhd located near Auto-City. This freehold 62-acre of land hosts a RM170mil development consisting of 447 units of double-storey linkhomes, 82 semi-detached homes, and 40 shop offices.

This project was first launched in May 2005, and now more launches are in the pipeline. Phase 1A1 and 1A2 (20’x70’ Topaz), 2A1 (22’x70’ Ruby) and 2B1 (35’x80’ Sapphire), and 40 units of shop office (Emerald) are targeted to be completed in June 2007.

Next: Part 5 – the Mayfair Penang and D’Residence Bayan Mutiara.

This piece of news will probably send more than a few local property companies scrambling to their phones.

Star had this to report:

KUWAITI FIRM KEEN ON MORE PROPERTY DEALS

KUALA LUMPUR: Kuwait Finance House (M) Bhd (KFHM) plans to focus on investment banking and fund management businesses here, with initial investments in the real estate sector, said executive director K. Salman Younis.

The company’s US$600mil Baitak Asia Real Estate Fund made its first investment in a major project here, the Pavillion, and was keen to invest in at least four other properties in the region.

The fund, set up in collaboration with Singapore-based Pacific Star Group last June, targeted customers in Asia, he told a media briefing yesterday.

Without elaborating, Younis said this project was expected to yield returns of 10% to 15% annually. Full details on the investment would be disclosed in April, he added.

The Pavillion, a mixed development comprising a shopping mall and apartment blocks, is located at Jalan Bukit Bintang, Kuala Lumpur. It is expected to be completed within the next two years.

Other partnerships being worked out included with Sunway Group to carry out mixed property development, Younis added.

In addition to that, the company, which was one of the three foreign players awarded a banking licence by Bank Negara, planned to use Malaysia as a hub to expand into neighbouring countries. Although KFHM’s first branch will be officially launched today, it has been in operations since last August. As at Dec 31, 2005, KFH had a market capitalisation of US$8.9bil.

We check the Kuwait Finance House webiste, but it was entirely in Arabic. But most of the sites that we visited also agree that they are well funded and are ready to expand into other areas overseas, like real estate.

So, with so many property firms looking for financial backing here in Malaysia, anyone wants to step up?

This is an ongoing series highlighting currently launched properties in Penang that appeared in the special pullout in the Star on 29th January 2006. This series of postings are for the benefit and reference of interested buyers.

For others in the series, please see the following:

Penang Property Focus (Part 1): Harbour Place and Taman Seri Bayan
Penang Property Focus (Part 2): Putra Marine Resort and the CEO

FEATURED ARTICLES

Bandar Laguna Merbok

This project, although not in Penang, was featured in the pullout. It’s an exclusive gated and guarded development, equipped with 24-hour security, guardposts with CCTV, and a clubhouse with gymnasiums and sports facilities.

With a view of the famous Gunung Jerai, there are the homes are surrounded by lush landscaping. The existing river through the project has been maintained as an attraction.

The latest homes on sale are Casamaria Elite Super Semi-Detached homes, Casamaria III Double-Storey Semi-Detached homes, and the double – storey homes of Valencia II, Almeria III, Almeria Elite III and Verona Elite II.

Taman Seri Pantai

Vivahill Properties Sdn. Bhd. Are offering 24 units of freehold beach homes in Teluk Kumbar. It is near to the tourists areas of Batu Ferringhi, Tanjung Bungah, and the new areas of Bayan Baru.

There are 2 types of units available, four units of SD1 with land area of 2163 to 2959sq.ft (build-up 2317sq.ft) and 20 units of SD2 which have a larger build-up of 2521sq.ft. SD1 is priced from RM550,000 to RM613,680 and SD2 is from RM580,000 to RM686,800.

All units are 3-storey.

Next: Part 4 – Alila and Bayu Mutiara.

In today’s Star, the front page carried the news of the judgement of the Federal Court that the Ampang Jaya Municipal Council (MPAJ) was not liable for losses suffered by 73 residents of two blocks of the Highland Towers condominium who had to evacuate after the collapse of Block One 13 years ago, killing 48 people.

The three-member panel consists of Chief Judge of Sabah and Sarawak Justice Steve Shim Lip Kiong and Federal Court judges Datuk Abdul Hamid Mohamed and Datuk Arifin Zakaria.

According to the report:

They said local authorities such as the MPAJ were given full immunity under Section 95 (2) of the Street, Drainage & Building Act 1974 (Act 133) from claims for the pre-collapse period. The court was unanimous in allowing the MPAJ’s appeal to set aside the Court of Appeal’s decision holding the MPAJ 15% responsible for the pre-collapse period.

As for the post-collapse liability, it dismissed with a 2-1 majority the cross-appeal by the 73 residents of Block Two and Three against the Court of Appeal’s ruling that the MPAJ was not liable for losses suffered during the post-collapse period. Justice Shim gave a dissenting judgment.

Justice Abdul Hamid Mohamad said that if the local councils were made liable, it would open the floodgates to further claims for economic loss, and this would deplete the council’s resources meant for the provision of basic services and infrastructure.

But what really interested me was the views of the dissenting judge, Justice Shim. He said the MPAJ could not seek shelter in Section 95(2) of the Street, Drainage and Building Act because this was a case of negligence in failing to formulate and implement the master drainage plan so as to ensure the stability and safety of the adjacent Blocks Two and Three.

He said there was an assumption of responsibility by the MPAJ to do what it had promised.

“I do not think it would be in the public interest that a local authority such as the MPAJ should be allowed to disclaim liability for negligence committed beyond the expansive shelter of Section 95(2) or other relevant provisions of the Act nor would it be fair, just and reasonable to deprive the respondents of their rightful claims under the law”

There was also a side bar on reaction by the ex-residents of the Highland Towers. I won’t go into the article, but we suggest you read it here. We it, we could not help feeling the sense of defeat and helplessness the residents felt after 12 long years of struggle and setbacks to achieve some sort of closure for the great loss they had gone through.

It’s been 12 years since it happened, my friends. When it it the news, some of us were still in university. But it still remains of the the biggest tragedy in Malaysian social history, and the longer the members of Property Malaysia work immerse ourselves in this industry, the more feel the impact of this tragedy.

But hopefully, this will finally close the book on the case, and hopefully again, Malaysians will learn from our past mistakes.

Further reading:

This morning, we came across this excellent write up, with some legal case studies on the issue:

Highland Tower Collapse

You can also check out the articles of interest:
Implications of the Highland Towers Judgment in Relation to the Duties of Building Professionals in Malaysia
The Highland Towers Judgment - Civil Suit No. S5-21-174-1996
Highland Tower Episode Closed

This is an ongoing series highlighting currently launched properties in Penang that appeared in the special pullout in the Star on 29th January 2006. This series of postings are for the benefit and reference of interested buyers.

For others in the series, please see the following:

Penang Property Focus Part 1

FEATURED ARTICLES

Putra Marine Resort

This seafront resort-styled condominium facing near the Penang Bridge has a good panoramic view of Pulau Jerejak, and is the latest project in Gold Voast Penang. Previously, the developer Techware has launched Villa Emas condominium, Sri Bukit Indah (bungalows, semi-D and terrace houses) and Putra Place condominium. This project is a low density, resort styled condominium with 18 choices of unique designs. All units are sea-fronting, and there is a direct access to the beach. Typical units are available, in addition to duplexes and penthouses.

Opposite the site is the proposed Penang State New Administrative Centre. The centre is anticipated to be the catalyst of growth for the entire district of Bayan Baru.

Construction 60% completed, show unit available.

The CEO

This SOHO concept serviced apartment is located near the Equatorial and Vistana Hotels on Jalan Bukit Gambier. They are advertising this place as the first ‘commercial low energy office’ and full-fledged clubhouse facilities corporate tower. Some of the SOHO units come with mezzanine floors.

With residential suite and 250 office suites in one place, they also have 2 lower levels of retail space, broadband internet access and smart office electronic capabilities. Not forgetting the condo facilities available.

This 18-storey has a scenic view of the Bukit Jambul Country Club Golf Course.

Show unit is at Krystal Point Corporate Park.

Next: Part 3 – Bandar Laguna Merbuk and Taman Seri Pantai