Property Malaysia

If you’ve visited Sunway SPK or Desa Park City, you will notice this relatively new commercial centre opposite them, right next to this existing condominium, before you reach the school. The commercial centre is Medan Putra Business Centre, which has a kind of name that makes you expect it to somewhere in old KL like Chow Kit or Tuanku Abdul Rahman. But no, it’s here, between Bandar Sri Menjalara and the aforemention Desa Parkcity.

The commercial centre is infamous for it haphazard parking, and double parking is the order of the day. Right at one corner, where there it is hoarded up, is the plot for a commercial development called Plaza Medan Putra. The developer, Sri Melinger, is planning a multi-storey shopping centre here, with 4 blocks of service apartments above it. The first phase, towers A1 and A2, known as Avelon (I know, we couldn’t figure out the spelling either) has been sold out. And now, they’re opening up the last two towers, called Beverly (“A” for Avelon, “B” for Beverly, get it?).

A bit about the location. This place seems to be experiencing a growth by itself, with first Sunway SPK and the massive Desa Parkcity, then there is also the nearby Menjalara 18. It is also connected to Taman Sri Sinar Segambut, and onward to developments like Anjung Tiara and Bukit Segambut Apartments, and further on the Mont’Kiara and Hartamas. While those areas are far off, there seem to be a strong interest in Menjalara at the moment, judging from the healthy sales of these developments.

For Plaza Medan Putra (PMP), link to LDP (Lebuhraya Damansara Puchong) is an advantage. Plus with the existing (albeit a little nightmarish) business centre, and proximity to more matured neighbourhoods like Kepong, Sri Damansara and Taman Sri Maluri, looks like the amenities are pretty well taken care off. Not to mention the ‘shopping centre’ downstairs. About the ‘shopping centre’ – it’s isn’t strictly a shopping mall, the developer plans to lease it out to one single operator, or anchor tenant – so it’s more appropriate to called it a supermarket. Sure, this tenant will probably lease out space to smaller shops, but in our experience, a mall with this kind of arrangement usually turns out very differently from what you’d expect of a shopping centre. But this could be an exception to the rule, let’s not discount the potential market from future residents of Desa Parkcity.

In terms of connectivity and more thoughts on the location, you are encouraged to read our review of Menjalara 18 last week, since they’re both a stone’s throw away from each other. Being so near to each other, comparisons are bound to be made by potential customers, although comparing a serviced condominium to a residential apartment isn’t really apples to apples.

We didn’t really get a good feel of the development as a whole, due to the fact that the salespeople weren’t really forthcoming with the info. Their brochure was only a single page leaflet, without any floor plans or details. You had to look at the boards in the sales office to get the important stuff, and it’s not like we can snap a photo if we want to sleep on it. Bad form, old chaps. You’re not going to impress a lot of investors this way. Or maybe we just didn’t look like the buying type (but really, what IS the buying type?!)

From what we could gather, there are 5 or 6 unit types, ranging from 800 to 1,000sq.ft. Units below 900sq.ft has 2+1 bedrooms, and the others have 3+1. In all there a 11 units per floor, and 22 floors altogether. Each unit comes with one free parking bay, more units are available for purchase. We really can’t comment much on the layout of the units, since IT ISN’T SHOWN IN THE BROCHURE… (okay, okay, calm down).

Maintenance fee is set at 17sen psf, but please check with the sales folks for confirmation.

In terms of condo facilities, the place has the usual fare like swimming pool, shops, gym and the like, although we’re not exactly sure since it isn’t mentioned in detail in the brochure… nevermind. Being atop a shopping outlet, you won’t expect fantastic facilities, since convenience is already pretty much at your doorstep, as in the case of K Residence and The Axis Residences.

Pricing starts at RM137,000 per unit, which is about RM170psf. Let me rant a bit about the price advertised. Their banner and sales material all tout s very cheap price of “from RM93,800“. Upon closer questioning, you’ll find out that that very special price is only referring to a studio unit which is limited in numbers. So limited that there are only 4 units available and they’re all been long taken up. So you can disregard that all-attractive price, folks.

We’re not really in favour of serviced apartments, more so ones atop shopping outlets. We didn’t really feel comfortable with the way they marketed the place either, but perhaps other homebuyers and investors will feel differently. Like we said, comparison to Menjalara 18 will be inevitable, and in our books, that other place has more going for them (btw, imho only).

But on the bright side, it’s on freehold land, and if you were one of the early birds to get a good unit with a competitive price, you’ll stand a better chance to get a good return on the unit. It’s also near KL, and convenient for those who need to travel in the city a lot.

As a footnote, there has been comments circulating about the S&P of this place, so buyers are encouraged to study it carefully to fully understand what you’re getting into, as you should for any other piece of property.

With the recent furore about illegally built palaces and business premises on state land, one aspect we should take a good look at is getting the proper approvals for the renovation works done to your homes.

By and large, a lot of people carry out renovations to their landed units without any approvals from the local council. If you want to know, you can ask your neighbours who did renovate their houses - it’ll give you a good picture of just how many. Sometimes, the house owner entrusts the renovation contractor to get the paperwork done - more often than not, he doesn’t do it.

These days, local council enforcement is getting stricter. Gone are the days that “it’s OK if no one complains about it”, nowadays, the council can immediately instruct you to tear down any illegal structures if it infringes on the regulations.

The Star highlighted some interviews with councillors regarding this issue, and they also issued some guidelines for people thinking of doing some works to their houses (source here):

BEFORE SUBMITTING PLANS

• Obtain a letter of consent from the neighbours if extension or renovation works involve house borders or the front facade.
• Appoint a registered architect (or one from the council).
• Appoint a consultant engineer if extension/renovation works involve concrete works.
• Consult the Building Control Department (of MBPJ) if extension/renovation works involved is 50% or more of the built-up area of the premises.

APPLICATION REQUIREMENTS

• Four copies of the proposed extension and renovation work plan
• A copy of the structure plan
• A copy of the latest assessment receipt
• A copy of certificate of fitness
• A copy of the sales and purchase agreement

Some councils have differing requirements, so the best is to check with them before starting any work. Remember, not everyone of us can afford to pay the fine of RM24,000 for not having an approval…

Bandar Menjalara seems buzzing with new and buzzworthy projects in the recent years, boosted mainly by the massive Desa Parkcity and Sunway SPK (review here) launched some time back. Sunway SPK, which originally sold the large tract of land to Perdana Parkcity to develop the former, is now almost completed and will be handed over to purchasers soon.

Desa Parkcity (DPC), on the other hand, has many parcels of both landed (e.g. LeVenue II) and apartment units (Zenia, Nadia, etc) and will take some years to be fully developed in its entirety, and some of the earlier launches are also going to be ready soon.

These new developments are actually built on the edge of the older Kepong, and Bandar Menjalara. Bandar Menjalara, actually grew in prominence since about 15 years ago, and now, developer Radiant Symphony is building Menjalara 18 Residences (or just Menjalara 18) at the edge Bandar Menjalara bordering with Desa Park City.

If you are familiar with Bandar Menjalara, you’d know the Telekom building. Well, this project is actually behind the aforesaid Telekom building. Behind it, there are some existing double storey linkhomes, across the road is a tract of land belonging to Sunway SPK. They are currently clearing it for some future development. From this site, you can exit out to the LDP (past DPC and Sunway SPK) or you can also go out to the Middle Ring Road II (MRR2) via Kepong. Another alternative is to Taman Sinar Segambut. Come to think of it, it’s actually very near to Segambut, and buyers may want to compare to some of the projects launched there recently, like Bukit Segambut Apartments and Anjung Tiara.

From Segambut, you can go on to Mont’Kiara, Sri Hartamas and the Duta area, but bear in mind you’ll be passing through some narrow roads in part and also heavily trafficked roads (some areas by heavy trucks). There is also a planned exit out to Jalan Kuching, although the developer was not able to give more details on this proposed road, but anyhow from the looks of it, it’s a little too far away from this site to make much of a impact on the buying decision.

The building comprises of a few levels of parking, then a common podium level, and two similar towers. The clubhouse and common facilities are located near the entrance, adjoining one of the towers. The plot of land that the building is set upon is oddly shaped, it kind of wraps around the existing Telekom building, with a narrow strip of land for the entrance. There’s good and bad to this, the building is set a little in from the main road, giving it an exclusive drive in feel, similar to some of the condos we’ve seen in Singapore (although here it probably isn’t a design choice). On the downside, lower levels will have their view obstructed by the Telekom building. But it isn’t that bad, as very few units are affected.

There are generally two views, KL City view, or alternatively Menjalara view. In addition to that, there a some which are have a clear pool view. There are two unit types available , 1,316 and 1,635sq.ft. Duplex penthouses are also available, from 2,793 to 3,120sq.ft. The build-up of the duplexes aren’t that sizable because it isn’t really a duplex unit, the upper floor is taken up by a pool, a large roof garden, and a raised pool deck. The build-up of the higher floor matches the lower floor level, and they have wisely not included the higher floor space in the unit build-up.

But let’s concentrate on the two typical unit types. We found them both very attractive and appealing. The smaller one, (Type A, 1,316sq.ft) has 3 rooms plus one study. All three rooms are quite well-spaced, although the kitchen is a little small. Also, the attached bath for the master is small, too. In return , the yard is quite spacious to cater for most Asian families, and there is a second exit from the yard to the common corridor. The second type, (Type B, 1,635sq.ft) is quite similar, but here there are 4+1 rooms. Good for big families or opening out one room for rent.

There are only 8 units per floor, and the developer is marketing them as semi-D units, in the sense that there is only one unit sharing a common party wall with each other unit. Similar to what you’ll find in Opal Damansara down in Kota Damansara.

Units on the common podium floor has an extra private garden space (but hope your neighbours aren’t those that like to flick cigarette butts and rubbish out their windows…)

In terms of facilities, the clubhouse and common area have lots to offer. Lots and lots. Like swimming pool, Jacuzzi, nursery, a lot lah, we’re not going to list it all here. This is also in addition to that they have marketed this place as very near to Mutiara Damansara, and the crown jewels there – Ikea, the Curve, 1 Utama, you know the drill. Although it isn’t far, but there is actually a toll in between…

This is Radiant Symphony’s first project, but they are quick to point out that the company has vast experience in managing other projects (although they didn’t mention which). Managing some one else’s project is decidedly different from steering your own project from ground up. So we’d say that you should consider them as first time developers (rightly so) but not inexperienced. According to them, they are also not working on any other soon-to-be launched projects at the moment.

Units come with one or two parking spaces, depending on the unit size. All parking bays are covered. Very important, that.

At the moment, the show unit is still under construction, tentatively will be ready in December. At the moment, the sales office is located in the supremely congested Plaza Medan Putra.

Right, the bottomline. We haven’t done an in depth survey of the prices of apartments in DPC, but we understand that it is generally priced slightly higher. A competitor would be the nearby Beverly Tower at Plaza Medan Putra (review here), which has also been recently launched. But that one, although priced slightly cheaper, is a serviced apartment, built atop a large multi-storey supermarket , so Menjalara 18, has already huge advantage in that aspect (unless you’re a service apartment fan). But the market here seem hungry for apartment space, judging from the good sales of most of the projects here, and from the looks of it, there’ll be a few more coming soon.

We like this place. It’s mediumly densed, at 18 floors for each tower (thereby giving it the name, now you know). Pricing is competitive, it’s a well connected area, highways and existing commercial and residential areas all around. It’s freehold, and as the people in DPC always say, “This one KL address“…

Let me sidetrack a little bit from the staple of Property Malaysia awhile. I read in the papers they are will be increasing the water tariff soon. The Star reported the following on Oct 16

Water, Energy and Communications Minister Datuk Seri Lim Keng Yaik said that water tariffs would go up by 15% for Klang Valley consumers who use more than 35 cubic metres per month.
For consumers who use more than 20 cubic metres a month but less than 35, the tariff increase is 6%.
Syabas chief operation officer Datuk Lee Miang Koi said they had been working hard to improve the water quality for consumers, including setting up the 24-hour toll free Puspel hotline.
“We have always tried to improve the water quality since we took over from PUAS on Jan 1, 2005.

While the increase of the water tariff did not elicit response from the general public like when they increased the electricity tariff, toll price and petrol, many quarters did voice their discontent, especially on the timing of the announcement.

Firstly, it is important to note that Syabas has made it clear that the increase is targeted mainly for users with high consumption, as shown in the breakdown of the increase in the report above. However, for lower consumption, there is still an increase. The main gripe of the consumers is that the quality of water supply in most parts of the Klang Valley has come to a level that is no longer acceptable.

These days it’s all too common to hear of complaints that the water that comes out of our taps is brown. This isn’t limited to certain areas of the Valley only, it affects almost everywhere – Cheras, Kepong, Petaling Jaya, Puchong – just ask any one on the street or read the letters that appear in the newspapers. Some residents complain that the water smells like sewage, contain rust, mud, metal bits, and what not.

It’s a common sight to see water filters installed in almost every home. A quick survey around my neighbourhood confirmed 9 out of every ten home had one of those external units – this isn’t counting the internal units. Dealers of water filtration and purification systems are making big bucks these days – the number of different systems available in the market can attest to it, be it energy water, diamond water, ionized water or whatever they call it.

This only goes to show the level of water quality our system provides, or the public perception of it has become.

What is the problem, SYABAS? It’s poor publicity NOT to address the public complaints that is becoming more and more vocal these past few years. And now the tariff has been increased. Where is the justification?

Selamat Hari Raya, everyone! I know we were supposed to post something yesterday, but we were a little too busy last night and a little too lazy today to blog something, but we hope you guys will have a good holiday too.

Remember, enjoy yourselves, but don’t forget to drive safely and don’t forget to keep your doors locked if you’re away from home.

Anyways. Here’s to the first day of Syawal, a good property market, and world peace.

(For non-Malaysians not familiar with Hari Raya or Eid ur-Fitr, you can read about it here)

Property Malaysia wishes all our Hindu readers a happy, happy Deepavali and Diwali. Save some murruku and sweets cakes for us…!

As usual, we’ll be taking a short break for the weekend, and will be back on Monday. Incidentally, Tuesday should be the first day of Hari Raya.

Have a good weekend, everyone, and drive safely.

Boustead Group took this full page advert in local papers the other day advertising some of their current luxury units that are currently available in the massive development of Mutiara Damansara.

Mutiara Damansara, just over a decade ago was still an undeveloped plot of land beyond Damansara Utama and Taman Tun Dr. Ismail. Then See Hoy Chan’s Bandar Utama, which paved the way for the new housing projects beyond the development border like Kota Damansara, Seri Utama and Damansara Indah.

Mention Mutiara Damansara now and Klang Valley folks would most likely associate with the thriving business and commercial area with landmarks like IKEA, Cineleisure, Ikano Power Centre and the upmarket freehold homes that surround the area. Heavy traffic, too, has become a defining element of the area especially along the stretch of LDP and the arterial Jalan Surian, along with exponentially growing price of properties for those who got into the area early.

Boustead’s development arm in the area is Mutiara Rini, and the residential homes are marketed unter the Mutiara Homes banner.

At the moment the luxury units available for sale here are:

Phase 1G Bungalow Lots
Super-luxury plots for the super-rich to build their dream bungalows on high ground, affording a superb view. How luxurious? Only ten lots available, but all lots facing east, to satisfy the geomancy-compass toting buyers.
Land size: 15,049 to 19,803sq.ft.
Selling price: RM2,453,000 to RM3,763,000 (not including the bungalow, if you’re wondering…)
Now ready for construction.

Phase 1E2 Double storey bungalows.
3 exclusive designs, with 13 units only. For those super-rich, but not rich enough to buy the aforementioned bungalow lots and build-your-own.
Land size: 8,993 to 10,091sq.ft.
Build-up Area: 4,313sq.ft.
Selling price: RM2,603,000 to RM2,839,000 (yes, this one including bungalow).
Expected completion: October 2007

Surian Condominiums
This is the familiar condos launched some time back which most apartment hunters in the area would have seen or heard about. The design is quite attractive, you can choose from an 8-storey low-rise block or a 19-storey tower block.
Build-up Area: 2,207 to 2,443sq.ft.
Selling price: RM563,000 to RM638,000
Expected completion: April 2007

For more info you can call them at 2141 9044 or visit their website here.

Another REIT looks set to be listed after getting the approval by the Securities Commission (SC). The properties under this REIT include Subang Parade in Selangor and Mahkota Parade in Melaka.

Some of the key points made in the announcement to the press last week were:

• The Hektar REIT was expected to be listed on the Main Board by year-end.
• The combined property value is RM523 million, the total net lettable area is 957,025 sq ft as at May 2006.
• Subang Parade was acquired for RM223 million in August 2003 and Mahkota Parade was purchased for RM146 million in April 2004.
• The two companies injected into the REIT comprises of Hektar Premier Sdn Bhd and Hektar Black Sdn Bhd, which fully owns and manages Subang Parade and Mahkota Parade respectively.
• Another company, Hektar Klasik Sdn Bhd, owns a piece of land in Nusajaya, Johor, which would be developed into a shopping centre. Planned net lettable area would be one million square feet.

More news on this new REIT soon.

This is an excellent read about mortgages. The specifics and terms are skewed towards the American real estate industry, but the basic principles are applicable here.

The article outlines the ten questions to ask about mortgages:

• How much can I afford to borrow?
• How can I tell which mortgage rate is best for me?
• What is the best type of mortgage for me?
• How should I repay it?
• Can I make lump sum payments to reduce the size of the loan?
• Are there any redemption penalties?
• Does this mortgage come with compulsory insurance?
• What other charges will I have to pay?
• What happens if I can’t pay?
• What about the small print?

The full article and explanation can be found here.

Now this is one project that isn’t heavily advertised in the media. It was launched in the middle of last year, and has been quietly doing brisk sales.

It’s located along Old Klang Road (Jalan Kelang Lama), just after the landmark police station at the junction with Jalan Puchong. It’s actually part of Taman Pasir Permata, and is surrounded by a matured and fairly dense neighbourhood. Mention Old Klang Road to any seasoned denizen of KL, you’ll conjure up images of OUG, Happy Gardens, Pearl Point Shopping Centre and shops close to the roads. Zamrud is part of a lot a new breed of apartments sprouting out in this neighbourhood, on plots of land between the old housing estates and decades old commercial districts.

The development looks a bit ordinary, not unlike many we’ve seen all across Klang Valley, with twin towers mirroring each other, and a deck with facilities between them. But Zamrud is emphasizing on other virtues like affordability and its location, so it can be forgiven for not indulging in cutting edge design.

In all there are 292 units only, which is quite low dense. On offer are 3 basic unit type, all with 3 bedrooms and 2 baths. The smallest unit is at 1,088sq.ft. and the largest isn’t much bigger at 1,170sq.ft. The smallest, Type A, is a conventional rectangular-ish design, while the other two are angled units, with some walls at 45 degrees. We particularly didn’t like Type B, where the passageway to the rooms and baths looked like pretty much unusable due to less than stellar layout.

In terms of finishing specs, they’re giving basic stuff, with ceramic tiles and paint all around.

Location wise, well, either you love Old Klang Road and would love nothing else better than to stay here, or you don’t. For those who do, this looks promising enough. At about RM140psf, it’s not exactly the cheapest, but its cheap nonetheless. From a neutral viewpoint, traffic around here is always a major concern. However, it’s also well connected to a few major (toll-paying, might we add) highways. The developer seem to targeting residents in the area to upgrade to an apartment or buy for their chidren, or investment, which to us seem to be the right direction to go. This place is pretty much nearing full development, as compared to other areas, like, say Puchong, Sunway or Shah Alam.

Other than that, residents can count on KTM Komuter, lots of ready amenities, shops, schools and colleges.

At the moment limited non-bumi lots available, and quite a few bumi lots still up for sale. TPPT is actually a company linked to Bank Negara, and they’ve many projects across the country. But this is their first project in the Klang Valley, there are rumours of another launch somewhere in Ampang soon.