Malaysia Real Estate

[canopy]

Desa park City
Type Safa 22x27 Freehold 4R3B from RM535k up!

guys! what do u think about this secondary market price and house?

[Oversea]

What is the built-up area size?

[johnwong6769]

[mercuri]

[Zarata]

[chatter]

Agree with Zarata.. my personal preference is a strata titled property with good management looking after it. Don't mind paying the mgt fee to enjoy the facilities and a well maintained neighbourhood (and not having to worry about your neighbour painting their home in rainbow color).

I own a unit in Adiva and my personal opinion on the prospects of DPC is everything may go sky high or tumble depending on whether the developer can deliver what they have planned for the whole area, includng the feeder road to penchala link.

[Zarata]

[Oversea]

[evaeva]

Zarata, any idea when is DPC's main entrance road going to be open? I may be moving in to Nadia Condo once the condo is ready early next year. Any idea whether Perdana ParkCity is going to build an international school and a hospital there? Oh yes, what happened to their "Urbanist" magazine for residents of DPC? Read the first inaugural issue earlier this year but did not receive any further issues thereafter...hmm...

[johnwong6769]

[Zarata]

[JADE]

Dear Chatter,
So happy to finally find an Adiva resident, I own an unit there too. Have you managed to catch a glimpse of the project? Can't wait to see the interior.

[cruisetom88]

Don't think there are any plans to built an international school or hospital here....

Good question on the Urbanist..... haven't receive any more issues after that, will check on that as well and revert.[/quote]

Developers bullish on housing

Just as a rising tide will lift all boats, the country’s strengthening economy is seeing more companies paying higher dividends as earnings improve, more companies making sizzling debuts on Malaysia Securities Exchange Bhd (MESB) and manufacturing sales surpassing production growth.

For the property market, there’s nothing like homebuyers feeling confident about the economy and their job security - which in turn is making developers bullish.

The economic outlook is positive, with the Government’s forecast gross domestic product (GDP) at 5.5 to six per cent for this year. Analysts expect the country’s economic resilience to accelerate its growth momentum. Some even expect the GDP to exceed six per cent, driven by a rebound in corporate investments, sustained consumption, improving external trade and accommodative fiscal and monetary policies. In 2003, the GDP actually grew by 5.2 per cent, compared to the estimate of 4.8 per cent.

Prospects for the stock market are encouraging as it catches up with other regional markets and sustains its heavy trading volumes with the anticipated strong economic growth. The benchmark Kuala Lumpur Stock Exchange Composite Index (KLCI) advanced from a low of 630 points in May 2003 to 793 points in December and is now at a high of 883 points as at March 9.

This was aided by news such as Malaysia’s re-entry into the California Public Employees Retirement System (Calpers)’s list of permissible markets for 2004.

Exports registered healthy growth, up eight per cent to RM382.3 billion last year from RM354.1 billion in 2002, thanks to the substantial increase in exports to regional countries, improved economic conditions in the United States and Japan, and the Malaysian External Trade Development Corp’s efforts in intensifying trading in new markets.

However, the analysts also warned of volatility this year, due to major factors that include the continued weakening of the US dollar, a potential resurgence of the Severe Acute Respiratory Syndrome (SARS) disease and elections in Malaysia and several other countries in the region.

The other factors are uncertainties over the ringgit-dollar peg and the likely end of accommodative monetary policies in many countries, which could possibly send interest rates moving up after the first half of this year. On the bright side though, property buyers can opt for financing packages with fixed interest rates or Islamic financing.

Because the pros seem to outweigh the cons, many developers remain bullish about the property market. This is what some of them have to say:

Perdana ParkCity: Market absorption of new supply will be good

Perdana ParkCity Sdn Bhd chief executive officer Lee Liam Chye expects a broad base strengthening of the property market in 2004, with good market absorption of new supply, an active secondary market and solid price movements dominating.

“People will be convinced that there is money to be made in property investments and thus, the pool of market players will be enlarged with the entry of investors and speculators who have largely stayed out. And in response to buyers’ changing preferences and tastes, one will see more developers attempting innovative and highly differentiated products,” Lee said.

In the residential sector, he believes middle-class housing will be the star performer, with price points of, and demand for, both landed properties and condominiums showing appreciable growth.

He expects middle-class housing areas, particularly in Kuala Lumpur, Selangor, Johor and Penang, to benefit the most from the market upswing, and thinks that the price of an enlarged intermediate terrace house in KL
could well touch RM1 million.

Liquidity and affordability are not obstacles. “What is different this year is that house buyers are distinctly more confident about themselves, the economy and about their job prospects.”

Shop-offices

On the commercial front, Lee said the price points of the ubiquitous
shop-office in many prime and good secondary locations have already surpassed pre-1997 peak levels. This will initiate a flurry of activity in such commercial developments.

However, this time around, he expects people would pay more attention to the concept planning and design of these offerings. “Higher standards are now demanded. Hence, the new generation commercial developments will be more varied and interesting to cater to changing trends in shopping and dining.”

Perdana ParkCity, a member of Miri-based Samling Group, is the developer of Desa ParkCity near Bandar Menjalara in KL, which will comprise 8,000 houses, a town centre, central park, educational reserve and 16 acres set aside for shops. Public amenities planned for Desa ParkCity include a primary school for 1,200 pupils to be opened in 2006, a private university campus and medical centre.

Scheduled for completion by 2011, the freehold scheme is close to middle- and upper-bracket developments such as Bandar Utama, Damansara Perdana and Mutiara Damansara and shopping facilities Ikea, Tesco and 1 Utama. It is accessible via the North Klang Valley Expressway, Lebuhraya Damansara-Puchong and the new Penchala Link.

The first of Desa ParkCity’s components, Adiva, comprising park homes, courtyard terraces and courtyard apartments, was launched in July last year. The company expects to unveil more new launches this year, and has startedwith the low-density and Internet-ready Nadia Parkfront condominiums featuring units with 635sq ft to 2,669sq ft of space.

Tan & Tan: Concentration on high-end residential properties

Tan & Tan Developments Bhd marketing and sales director K.C. Chong said indications are that the property market will be good as a result of the Government’s incentives that continue until the middle of the year, with the prevailing low interest rates encouraging purchases.

Chong said the current year would also see developers and new entrants offering more properties, indicating a more competitive environment for sales to take place.

Sector-wise, he said, there appears to be a huge concentration on high-end residential properties because there have been a few notable successes, especially involving condominiums and gated properties. However, he cautioned that the new supply might negate possible further gains if it outweighs demand.

For this year, he said Tan & Tan will continue to offer products that meet the lifestyle requirements of niche markets. “We will offer more complementary products to complete our Seri Maya development in Jalan Jelatek, off Jalan Ampang in KL, which is almost next door to the Setiawangsa LRT station,” he said.

The latest phase in Seri Maya is the lanai-styled Havanna apartments, which have large built-up areas. The smallest three-bedroom unit contains 1,325sq ft of living space, and is priced from RM268,000.

Tan & Tan is also implanting the concept of its upscale Sierramas development in Sungai Buloh, Selangor, into its other ventures, such as the Tanamera development in USJ Subang. These features include tight security that include guards on patrol, innovative landscaping and streetscaping, underground drains and wiring and perimeter fencing.

What will distinguish the Tanamera townhouses from other similar units is the abundant outdoor living space. The townhouse has a combination of terrace, patio and internal courtyard that can be converted into a koi pond or an internal garden. The price of a 22ft by 75ft unit, with built-up areas ranging from 2,030sq ft to 2,630sq ft, starts from RM365,000.

In the commercial segment, Tan & Tan plans to launch the fourth development parcel at Mid Valley City, comprising a pair of 22-storey towers and a low-rise podium in the second quarter. Corporate suites and serviced apartments will be offered for sale.

Plenitude: More launches countrywide

Things are looking up, too, for Plenitude Bhd, whose developments are located throughout the Peninsula: Taman Desa Tebrau in Johor Baru, Johor; Taman Putra Prima in Puchong, Selangor; Changkat Kiara in KL; and Bandar Perdana in Sungai Petani, Kedah. It also has a three-star beach hotel, Tanjung Bungah Beach Hotel, in Penang.

An analyst with BBMB Securities Sdn Bhd has put the total ongoing and targeted future development value of the Plenitude group’s projects at RM4.01 billion.

Plenitude executive director Zukarnine Shah, who expects improved market sentiments in the residential, commercial and retail segments, said the company has plans for nine new launches this year.

In KL, subsidiary Changkat Kiara Sdn Bhd is preparing for the March 28 official launch of semi-detached houses and bungalows in Sri Hartamas. The price of the Bayu series ranges from RM1.391 million to RM2.009 million and that of the Surya series, from RM1.237 million to RM2.399 million. Demand is expected to be good.

This follows the encouraging take-up of Rimbun in September last year, where prices for the semi-detached units started from RM1.999 million and bungalows from RM2.341 million.

In Johor Baru, subsidiary Plenitude Holdings Sdn Bhd on Feb 14 launched the two-storey Felinni and two-and-a-half-storey Kurosawa semi-dees, with garden and guarded concepts. Prices start from RM380,000 for the Felinni unit and from RM408,000 for Kurosawa.

On the same day, it also launched three-storey shop-offices priced at RM478,000 near the Desa Tebrau Interchange.

The Taman Desa Tebrau satellite township is situated adjacent to the Johor Baru-Kota Tinggi Highway and about 14km from Johor Baru town centre

Plenitude Holdings’ two up-and-coming launches will be 22ft by 65ft and 24ft by 80ft double-storey terraces located near a nature park and commercial area. “Double-storey terraces with large built-up areas are always in demand in Johor and we are targeting the upgraders,” said Zukarnine.

In Puchong, subsidiary Sepang Permai Sdn Bhd will be coming out with double-storey terraces of 20ft by 70ft and the smaller 18ft by 65ft units in Taman Putra Prima.

The current units in Taman Putra Prima, measuring 22ft by 70ft and 20ft by 80ft, were launched in August last year at prices ranging from RM179,800 to RM405,745.

In Sungai Petani, subsidiary Sin Yik Development Sdn Bhd is expected to launch single-storey terraces measuring 22ft by 70ft in Bandar Perdana.

Prices for both the upcoming launches in Puchong and Sungai Petani have yet to be determined, but Zukarnine expects demand to be good.

LBS Bina: Demand will be selective, and confined to the Klang Valley

Meanwhile, LBS Bina Group Bhd plans to launch a new scheme this year. Taman Tasik Puchong will have about 1,200 units of two-storey terraces and apartments. Prices start from RM180,000 for the former and from RM70,000 for the latter.

It has also announced the launch of new phases in Bandar Saujana Putra and Taman Bukit Serdang.

Phase 7, Crystal, in Bandar Saujana Putra will offer for sale two-storey terrace houses measuring 20ft by 60ft, tagged at RM142,800. There will also be 500 units of two-storey terraces with plot dimensions of 20ft by 70ft, pegged from RM180,000.

Bandar Saujana Putra is a mixed development situated along the North-South Central Link between UEP Subang Jaya and the Kuala Lumpur International Airport (KLIA) interchange.

“We believe the growth corridor will be towards KLIA, where Bandar Saujana Putra is located, because of convenient accessibility via the good highway system. Properties in demand are those below RM180,000,” said executive director Joey Lim Hock Guan.

The other launch is Phase 2 of Taman Bukit Serdang, involving two-and-a-half-storey terrace houses measuring 20ft by 70ft and two-storey semi-dees of 40ft by 80ft. The properties are pegged at RM299,900 and RM436,900 respectively. The development is located amidst Seri Kembangan, Serdang Raya, Bukit Jalil and Technology Park Malaysia.

- Property Times 16 March 2004 issue -

[chatter]

Hi JADE

Same here! Mine is the little courtyard terrace facing persiaran residence. Yes I have checked out the progress so far. In fact, managed to get myself 'very close' to my unit recently and snapped a few pictures, including the interior, partially done that is..

I am quite confident that the developer will deliver a good job after what I have observed so far. Planning to move in when they hand over. Only thing is the inconvinences (i.e. pollutions & security) from all the development still going on around the area, especially levenue 2.

[Zarata]

Wow didn't expect there will be a university campus & medical centre in DPC when I bought it.... sounds promising! Can't wait till everything here is developed, especially the club house and Quaritz

[chatter]

Sounds too good to be true.. you can never trust newspaper reports 100%. so better don't keep your hope too high unless confirmed by PPC.

[osk]

Can anyone tell me the price of few vaccant units ( back facing main access road) in DPC. Will value of property there affect by the huge oxidation pond opposite Sunway Damansara SPK?

[cruisetom88]

[Khoobg]

test

[The Mole]

A hospital/supermarket? Sounds radical

[bluesky]

Have you all gotten the wine from DPC? Hehe... I got mine, surprise.

[cruisetom88]

[bluesky]

Anyone heard about the shuttle bus service to One U, Ikano......? Pls share more info here.

Any latest update on the vacant possession date?

[evaeva]

[Yeeha!]

Is there any show unit? can potential buyers or even buyers enter the premises to see the progress of the houses?