MSB Property: April 2012

Sunday, April 1, 2012

More Listings

For More Listings: http://www.claristchua.com/

For More Listings: http://www.iproperty.com.my/realestateagent/12260/Clarist_Chua

Angkupuri is a condominium residing in luxurious [Mont Kiara] area. It is located near to the Mont Kiara International School and Garden International School, and surrounded by prestigious residential neighborhoods such as Sri Hartamas, Damansara Heights and Bangsar.

Angkupuri consists of 39 floors comprising of 210 units along with a 5-storey car park. There are only 6 units on each floor with 2 units per sub block thus each unit is a corner unit, allowing residents to have 180Â° views of the surrounding scenery.

Angkupuri has one of the most inviting swimming pools with its full featured landscape pool. Mature tropical coconut palms swaying in the breeze. Cool blue waters cascading over rocks. Kids merrily playing and wading. The idyllic life on a sundeck chair under the cool shade of the palm trees next to a beautifully landscaped pool set in an enchanting garden is the tonic to soothe away the stress from work.

Angkupuri is one of the favorite condominiums for expatriates to call home. Most units here are rented to Korean and Japanese families with one or two children. Other residents here are expatriates from the international community. It is a nice place to stay for families and expatriates, as it is just next to the Mont Kiara International School, close to the Garden International School and slightly further away the French International school.

Angkupuri is almost at the best location within the mont Kiara area. Angkupuri is just a few hundred metres to all the shops and supermarkets located at [Plaza Mont Kiara], [One Mont Kiara], and [Solaris Mont Kiara]. Also, one can easily access to NKVE highway, Jalan Duta and Sprint highway, DUKE higway thus making Angkupuri a good place to stay if you work in Bukit Damansara, Sri Hartamas, Bangsar and Petaling Jaya, Old Kland Road, Ampang, Setapak, Klang, Subang well almost about anywhere is easily acessible.

Depending on the units, one can view KLCC, Genting, and even greenery view of hills and mountains. Besides the view, it is very windy as well (mostly for upper floors). Even some residents claimed that they seldom use air-conditioner, as the natural strong wind is cool enough.

Property Details

* Name: Angkupuri
* Address: Jalan Kiara 1, Mont Kiara, Kuala Lumpur
* Developer: Homestead Development (a subsidiary of BT Homestead Group)
* Type: Condominium
* Tenure: Freehold
* No. of Blocks: 1
* No. of Storey: 39
* Subsale Price: RM390,000 onwards
* Rental: RM2,600 onwards

Layouts

* Type A (1,249 sf)
* Type B (1,399 sf)
* Type C (1,550 sf)
* Type A (2,458 sf) (penthouse)
* Type B (2,798 sf) (penthouse)
* Type C (3,100 sf) (penthouse)

Facilities

* BBQ area
* Function room
* Children's nursery
* Jogging track
* Garden landscape with fountain
* Restaurant
* Mini market
* Playground
* Resort-style swimming pool
* Wading pool
* Tennis court
* Squash court
* Gymnasium
* Salon
* 24-hour security

Analysis

Overall, the condo management of Angkupuri has been doing a good job maintaining the cleanliness and facilities within the condo surroundings. Residents claimed that although lobbies and lifts are looking a bit tired, they are well maintained. Also, its corridors to units are bright from natural lighting.

The management of Angkupuri should be given a credit as they managed to give the building a fresh coat of paint in 2007, making it look better than before. Word from management is that a major renovation works is planned for the very near future to freshen up this condo.

Traffic jam seems to be getting worse in Mont Kiara area. This is due to rapid developments in the area, and the roads are not upgraded as quickly as possible. Except maybe for the peak morning rush, at almost all other times, going to all parts of the city is just a breeze. when so accessible to all the major roads.

As for investment, most investors compare Angkupuri with Almaspuri, in which both are labeled as average-built condominiums "sandwiched" between luxury condominiums. Both these condos are priced almost the same, with most say Almaspuri being better, as it offers larger size units above 1,600 sf.

Previously, a basic unit at Angkupuri can be rented out from RM3,000 per month. But due to new projects launched in the area, as well as the slower economic conditions, the rentals is now from RM2,600 onwards which is still good rental yields.

The majority of Angkupuri's residents are expatriates. It has good rentals with easily rentable units. While some may prefer Mont Kiara Bayu, Mont Kiara Sophia, Mont Kiara Palma or Mont Kiara Astana. It has one of the highest occupancy rates in the Mont Kiara area (greater than 85%). This reflects the favorable market sentiments towards the condo and its favorable location whithin the Mont Kiara.

As for the selling price of Angkupuri, prices have crept up this past couple of years. RM565,000 was paid for one of the 1249 sq ft units on the 12th floor in mid 2011. The smarter ones are now seeing the great value of setting up home in Mont Kiara. Compare the exceptional location and the property prices with those in other poorer locales, Angkupuri is now looking like a very good buy. With the upgrading works, property prices will only move up.

Almaspuri (Condominium)

Almaspuri is a freehold medium-end condominium residing in posh Mont Kiara neighborhood. It was developed and managed by reputable BT Homestead Group, who is also the same developer for Angkupuri in Mont Kiara and Anggun Puri in Segambut.

Almaspuri comprises two towers which consist of 132 units and each floor is only limited to four units making each a corner unit allowing residents to enjoy 180Â° views of the surrounding scenery.

There are several route options to get in and out of Almaspuri. Via NKVE, Penchala Link, Jalan Duta, Jalan Kuching and SPRINT highway, motorists can reach Kuala Lumpur city center, Petaling Jaya, Taman Tun Dr Ismail and Bangsar within minutes of driving. Even E1 Jalan Duta â€“ Sg. Buloh highway is just about three hundred meters away from the entrance.

Motorists can reach Kuala Lumpur city center within 20 minutes and Damansara Heights within 10 minutes. In addition, residents can also find leisure in renowned Desa Sri Hartamas enclave, which is located just next to the neighborhood. There are plenty amenities and facilities residing nearby the area.

Almaspuri is within walking distance to Mont Kiara International School. Also, there are other international schools situated nearby, such as Garden International School and French International School. Plus, Plaza Mont Kiara and Solaris Mont Kiara are also within reach for residents to buy daily necessity or chat with friends and family.

For golf enthusiasts, one can hit the green at KGPA, KLGC, Tropicana Golf and Country Resort and Sri Selangor Golf Club which are not far from the area. Also, Bukit Kiara Equestrian Club offers good recreational activities for the whole family. Plus, you can also join Royal Selangor Club which its clubhouse is just located a few miles away.

Property Details

Name: Almaspuri
Address: 18 Jalan Kiara, 50480 Kuala Lumpur
Developer: BT Homestead Group
Type: Condominium
Tenure: Freehold
No. of Blocks: 2
No. of Units: 132
Built-up: 1,545 – 3,500 sf
Subsale Price: RM368 psf
Rental: RM2.60 psf

Layouts

Standard (1,545 sf)
Penthouse (3,500 sf)

Facilities

Landscape garden
Swimming pool with cascading waterfall
Children’s playground
Tennis court (x2)
Multipurpose function room
Reading room
Nursery
Full size well equipped gym

Aman Kiara (Condo Villa & Bungalow)

Aman Kiara is a low density development with only 31 homes which consists 19 units of bungalows and 12 condo villas. This prestige development suits well to its name as it offers good ambiance and secured living experience to the residents. Met its completion back in 2004, this 6-acre gated and guarded development was developed by the reputable Bukit Kiara Properties.

The main entrance for Aman Kiara is located in Jalan Kiara 5. Compared to other major roads in its surroundings, here residents will experience less traffic congestion especially during peak hours. This is also currently the closest residential development in Mont Kiara to Desa Sri Hartamas.

In terms of accessibility, Aman Kiara has numerous accesses to highways such as NKVE, Penchala Link, SPRINT and also Kerinchi Link that will lead motorist straight to Federal Highway. With only minutes away from Jalan Duta and Jalan Kuching, residents also enjoy road access to various locations in town.

By considering its close distance to Sri Hartamas and other developments in Mont Kiara itself, a lot of amenities could be accessed by the residents of Aman Kiara. Driving distance of approximately 5 to 10 minutes, residents will reach the commercial area of Desa Sri Hartamas which consist of business park, shop lots, entertainment spots, food court (Hartamas Square) and other amenities such as Shell petrol station, fire station and several schools.

Property Details

Name: Aman Kiara
Address: Jalan Kiara 5, Bukit Kiara, Kuala Lumpur
Developer: Bukit Kiara Properties
Completion Date: July 2004
Type: Bungalow, Condo Villa
Tenure: Freehold
No. of Units
- Bungalow: 19
- Condo Villa: 12
Land Area: 6-acre
Built-up: 3,690 – 5,410 sf
Maintenance Fee: RM1,000 – RM1,400
Launch Price: RM2.5m onwards
Subsale Price: RM3.2m onwards
Rental: RM13,000 – RM18,000

Facilities

Clubhouse
24-hour security
CCTV monitoring
Swimming pool
Wading pool
Barbecue area
Jogging track
Children’s playground
Covered car park
Gym

28 Mont Kiara (Condominium)

28 Mont Kiara (also known as MK28 or Mont Kiara Aria) is a new and modern condominium development sited in the exclusive neighborhood of Mont Kiara. It is located right next to Mont Kiara Banyan. The project follows CONQUAS (Construction Quality Assessment) and Green Mark Index Assessment development standards.

28 Mont Kiara comprises two 40-storey towers that house a total of 460 units on a 5.81-acre of freehold land. These units come in built-up sizes ranging from 2,535 sf to 2,700 sf for 3+1 bedrooms and 5 bathrooms units, and 3,000 sf for 4+1 bedrooms and 5 bathrooms units. Also, there are 6 penthouses with built-up sizes range from 5,790 sf to 6,465 sf.

Each unit at 28 Mont Kiara comes with air-conditioning units in all bedrooms (except the maidâ€™s room), living area and dining area; fully fitted kitchen with induction hob, oven, hood, fridge; washing machine and dryer at the yard; and 3 and 5 car park bays for standard units and penthouses respectively. Maintenance fee is charged at RM0.20 psf

Property Details

Name: 28 Mont Kiara (also known as MK28 or Mont Kiara Aria)
Address: Jalan Kiara, Mont Kiara
Developer: Sunrise
Completion Date: End 2012
Type: Condominium
Tenure: Freehold
No. of Blocks: 2
No. of Storey: 40
No. of Units: 460
Land Area: 5.81 acres
Built-up: 2,535 â€“ 6,465 sf
Maintenance Fee: RM0.22 psf (inclusive of sinking fund)
Launch Price: RM750 psf (RM721 â€“ RM857 psf)

Facilities

Swimming pools (larger than Olympic-sized pool) with water cascades
Sauna
Jacuzzi
Gymnasium
Pool deck
Landscaped garden
Jogging trails
2 tennis courts
Playground
Retail centre

10 Mont Kiara @ MK10 For Sale and Rent

MK 10 is a luxury condo with many facilities, High floor, beautiful KLCC & Palace view.
Extra Features:Sauna & Steam Room & High Quality Imported Kitchenware.

MK10@Mont Kiara (For Sale and Rent)

Condominium (Freehold)

Sale: RM 758psf Negotiable!

Rental: RM 14k Negotiable!

3,668sf

4+1 Bedrooms & 5 Bathrooms

Fully Furnished

For More Listings for MK10: http://www.claristchua.com/

For More Listings for MK10: http://www.iproperty.com.my/realestateagent/12260/Clarist_Chua

MK 10

10 Mont Kiara (also known as MK10) is a high rise condominium residing in posh Mont Kiara enclave. It was developed by the renowned Sunrise. It was launched in September 2006 and expected to be handed over to owners in August 2009.

10 Mont Kiara comprises of two 43-storey condominium towers with a total of 332 condominium units on 7.46 acres of freehold land. Units available have built up from 3,478 to 7,500 sf with only four units per floor. Each unit is served by a private lift lobby.

10 Mont Kiara is within walking distance to Mont Kiara International School. Besides that, one can drive to Solaris Mont Kiara which houses Cold Storage within 5 minutes. One can also find numerous facilities in the area including restaurants, Plaza Damas and prime banks. In addition, the area is nearby to other prime neighborhoods including Sri Hartamas, Bangsar, Damansara Heights and Taman Tun Dr Ismail which offer plenty more amenities and facilities.

Sunrise is a major developer for Mont Kiara property developments. The company is a public listed company in Bursa Malaysia Main Board and has been rank among the Top Ten in The Edge Malaysia’s Top Ten Property Developers Awards for 5 consecutive years from 2003 to 2007. Among new developments by Sunrise in the enclave are 11 Mont Kiara, Mont Kiara Banyan, Kiara Designer Suites and The Residence.

Property Details

Name: 10 Mont Kiara (also known as MK10)
Address: Jalan Kiara 1, Mont Kiara, Kuala Lumpur
Developer: Sunrise
Completion Date: August 2009
Type: Condominium
Tenure: Freehold
No. of Blocks: 2
No. of Storey: 43
No. of Units: 332
Land Area: 7.346 acres
Built-up: 3,478 to 7,500 sf
Launch Price: RM1,788,000 – RM5,043,000 (RM520 psf)
Subsale Price: RM620 psf

Layouts

Tower A
- Type A – 3495 sf
- Type B – 3632 sf
- Type C – 3632 sf
- Type D – 3478 sf
Type B
- Type A – 3720 sf
- Type B – 4090 sf
- Type C – 4090 sf
- Type D – 3704 sf

Facilities

Infinity pool
Children’s pool
Water jet pool
Sauna
Barbecue terrace
Private lift lobby
Contemporary landscaped garden
Indoor golf driving range
Putting green
Tennis court
Children’s playground
Gymnasium
Games room
Multipurpose hall
Badminton court
Half basketball court
Pavilion with grand lobby
Concierge services
Yoga terrace
Jogging route
Surau
Wireless internet access
Covered car park (3 bays per unit)

For More Listings for MK10: http://www.claristchua.com/

For More Listings for MK10: http://www.iproperty.com.my/realestateagent/12260/Clarist_Chua

11 Mont Kiara @ MK11

11 Mont Kiara (also known as MK11) is a modern condominium within the sought-after Mont Kiara vicinity. Sunrise claimed that it will be an exclusive 6-star high-end residential development boasting both scale and grandeur. It is the first residential project in the country to be crowned Singapore’s Green Mark certification.

11 Mont Kiara comprises five 43-storey towers that sprawling over 6.7-acre site. There are a total of 339 units of condos housed within the entire 5 blocks, with only 2 units per floor. Each unit is served by four private lifts. There are few layouts available, from normal units, super-deluxe units, junior penthouses and penthouses, each range from 2,707 sf to 6,725 sf. It comes with 3 or 4 bedrooms.

The Gross Development Value (GDV) of 11 Mont Kiara is at RM800 million, and each unit was launched around RM720 psf with a maximum price of RM1.9 million. The development is launched in early 2008 and expected to be completed in 2011. Initial buyers are offered to pay only a fixed deposit and nothing else until 2013. Also, 5% discount is given for Bumiputra purchasers. The developer claimed that 70% of the units have been taken up during its soft launch, which the units are priced around RM726 psf.

Property Details

Name: 11 Mont Kiara (also known as MK11)
Address: Jalan Kiara 1, Mont Kiara, Kuala Lumpur
Developer: Sunrise
Completion Date: 2011
Type: Condominium
Tenure: Freehold
No. of Blocks: 5
No. of Storey: 43
No. of Units: 339
Land Area: 6.7 acres
Built-up: 2,707 – 6,725 sf
Launch Price: RM726 psf (few remaining units available at RM880 psf)

Layouts

Type A: 2,707 sf
Type A1: 3,169 sf
Type B: 3,317 sf
Type C: 3,729 sf

Facilities

Reflexology path
Woodland garden & jungle walk
Water ponds
Water feature
Gymnasium
Sauna
Swimming pools
Badminton court
Squash court
Tennis court
Half basketball court
Children’s playroom
Wading pool
Playground
Tree house
Barbecue terrace
Poolside barbecue area
Heated whirlpool
Water-jet splash pool
3 sky lounges & terrace

Analysis

The modern architecture of 11 Mont Kiara is a talk of the town â€“ which Sunrise has designed a ‘floating’ boat-like deck that mounts its swimming pool and pavilion deck on its top, and a floating gymnasium on the lower level. Not only that, it has another swimming pool beneath it which makes the deck really looks like a boat. Also, it will be well-surrounded by lush landscaped greenery â€“ just like other prominent Sunrise’s developments.

There are several factors that make 11 Mont Kiara labeled as a green building. One of them is its layout, which utilizes prevailing wind condition in order to achieve cross ventilation to maximize natural ventilation and lighting. Besides that, it also uses energy-efficient light equipments, as well as energy-efficient lifts. It is also integrated with a heat recovery system that recycles air conditioning heat. Other green features include green-labeled timber flooring varnish and the use of recyclable materials.

The price tag of 11 Mont Kiara is within the same price range of KLCC properties â€“ which is very high. However, it is believed that MK11 will make it just like the rest of other Sunrise’s developments. But it will have hard time to escalate further as people will opt for KLCC properties.

Comparing MK11 to its successor, 28 Mont Kiara, it seems that MK11 has more potential to perform due to its strategic location along Jalan Kiara 1. Furthermore, it is also priced a bit lower than MK28.

For More Listings for MK11: http://www.claristchua.com/

For More Listings for MK11: http://www.iproperty.com.my/realestateagent/12260/Clarist_Chua

11 Mont Kiara @ MK11 For Sale and Rent

MK11@Mont Kiara (For Sale and Rent)

Condominium (Freehold)

Mont Kiara,WP Kuala Lumpur.

Sale: RM2,313,000/730psf

Rental: RM11,ooo

3169sf(Type A1)

4+2 Bedrooms & 5 Bathrooms

Partially Furnished/Fully Furnished

MK11@Mont Kiara (For Sale and Rent)

Condominium (Freehold)

Mont Kiara,WP Kuala Lumpur.

Sale: RM850psf NEGO!

Rental: 13,000-15,000 NEGO!

3729sf(Type C)

4+2 Bedrooms & 6 Bathrooms

Partially Furnished/Fully Furnished

MK11@Mont Kiara (For Sale and Rent)

Condominium (Freehold)

Mont Kiara,WP Kuala Lumpur.

Sale: RM2,165,600 NEGO!

Rental: RM8,000-RM9,000

2707sf (Type A)

3+1 Bedrooms & 5 Bathrooms

Partially Furnished/Fully Furnished

For More Listings for MK11: http://www.claristchua.com/

For More Listings for MK11: http://www.iproperty.com.my/realestateagent/12260/Clarist_Chua

Property sector to enjoy uptrend this year

Jan 14, 2011

The overall real estate sector will likely see an uptrend in 2011, buoyed by the several Economic Transformation Programmes (ETP) announced by the government, as well as the expansion in the services and manufacturing sectors, said Rahim & Co Chartered Surveyors Sdn Bhd, one of Malaysia’s biggest property consultancy firms.

The outlook was good despite a soft market in high-end condominium rentals, said Rahim & Co Chartered Surveyors.

Average prices in the secondary high-end condo market dropped by 29 percent from Q2 2008 to Q2 2009, but rose 13 percent since Q3 2010, said Datuk Abdul Rahim Rahman, Executive Chairman of Rahim & Co Chartered Surveyors. Meanwhile, prices of new launches range from RM750 psf and RM2,500 psf.

“The leasing market has not fully recovered. Rental rate has remained low at about RM4.30 psf compared with its high in 2008 at RM4.90 psf. With the various projects to be implemented under the ETP to make city living more vibrant, we expect the market to be on the uptrend by 2012,” said Abdul Rahim.

In locations such as Shah Alam, landed units by more reputable developers changed hands within six months. “People are buying because for RM2 million or so, they can buy the same type of houses which cost RM6.5 million to RM7 million in the city. That is why the launches outside KL are doing well, coupled with the fact that there are no landed launches within KL itself because of the scarcity of land. In locations like Bangsar and Sri Hartamas, only condominiums are launched,” he said.

About 14.5 million sq ft of new office space will be completed in the next five years, of which around 27 percent will be located in the suburbs, he added.

Mr. Abdul Rahim was also positive on the retail property market, noting that retail sales will likely grow to RM227 billion in 2014 from RM137 billion last year.

Demand for high-end projects in KL remains strong

May 16,2011

The demand for high-end condominium and serviced residences in Kuala Lumpur remains strong, said Christopher Boyd, Executive Chairman at CB Richard Ellis (CBRE) (Malaysia).

“Take-up rates range from 65 percent-88 percent as of the end of the first quarter of 2011,” he said at the Eastern & Oriental Bhd’s “Invest in Malaysia, Invest in Kuala Lumpur” Forum.

He cited Soho@KLCC and M Suites serviced apartments as prime examples. Soho@KLCC reported 85 percent sales with its 300 condominiums having a selling price of between RM700 psf and RM850 psf. M Suites, located within the Ampang Hilir enclave reported 70 percent sales with 442 service apartments having an average price of RM850 psf.

According to a report by CBRE, the total supply of existing condos and serviced residences, which have an average price of RM350 psf or higher, in Kuala Lumpur rose four percent to 32,742 units since end-2010.

About 44 percent, or around 14,514 units, are located in the Golden Triangle, Ampang areas and the CBD, while 34 percent, or approximately 11,121 units, are located in Mont’Kiara and Sri Hastamas.

Approximately 38 percent of the available condominiums and serviced residences are listed from RM350 psf to RM499 psf, with an additional 38.6 percent listed from RM500 psf to RM799 psf.

Meanwhile, more than 24 percent were listed at RM800 sq ft and up, which is categorised as luxury residential units, with many located in the Suria KLCC shopping centre area.

Mr. Boyd said the average capital values for KLCC, Bangsar and Mont Kiara in Kuala Lumpur – the three main condominium markets – have remained stable since the global financial crisis in 2008.

A CBRE report last year said there were 2,156 transactions for luxury condominiums in KL with an average value per transaction of approximately RM1.09 million.

“Less than a quarter of Kuala Lumpur luxury condominium buyers are foreigners. Also, most of the local buyers are not highly leveraged and they are not buying for speculative purposes,” he said.

Fionna Chuah, Head of Sales for Property Division at Eastern & Oriental Bhd, said the company’s high-end developments such as Dua Residency condo in the Kuala Lumpur embassy enclave and the Idamansara@Damansara Heights development have seen strong capital appreciation of between 50 percent and 60 percent in the past few years.

28 Mont'Kiara wins international development award

Dec 2, 2010

28 Mont'Kiara, Sunrise Bhd's latest luxury condominium project, located in the high-end enclave of Mont'Kiara in Kuala Lumpur, has won the World's Best International High-rise Development at this year’s International Property Awards, in association with Bloomberg Television.
In his acceptance speech, Datuk Allan Lim Kim Huat, Deputy Executive Chairman of Sunrise, said, “Being recognised as one of the 'Best in the World' is testament to Sunrise's ability to compete successfully not just at the national and regional level but also globally.”

“With this international recognition, our success is the result of the collective team effort contributed to all aspects of the development, to consistently deliver quality, innovation and high standards.”

The 5.81 acre freehold project features twin 40-storey towers comprising 460 units of luxurious accommodations. Unit sizes range from 2,535 to 3,000 sq ft, while the six penthouse units have built-ups of up to 6,465 sq ft.

The condo also features a 50 m lap pool, spa, wellness garden, jacuzzi, slide pool, gym and children’s playground. It is likely to be completed in June 2013.

1 Mont'Kiara mixed commercial development open for business

Feb 22, 2011

The RM333 million agreement to buy a portion of the 1 Mont’Kiara mixed commercial development by ARA Asia Dragon Fund from Aseana Properties Ltd was completed on 31 December 2010.

The portion comprises a five-storey retail mall with a gross floor area (GFA) of 225,000 sq ft and a 20-storey office tower with a net lettable area (NLA) of 185,000 sq ft, with a total gross development value (GDV) of about RM529 million.

The office fetched about RM550 psf, while the retail section changed hands for approximately RM1,040 psf, setting new pricing benchmarks for the upscale enclave.

Launched in December 2010, 60 percent of the retail space at the 1 Mont’Kiara retail mall has been taken up, with leasing rates ranging between RM4 psf to RM40 psf, said a spokesperson with the mall management to City & Country.

With the mall targeting Mont’Kiara residents, the tenant mix will likely be comprised of fashion and lifestyle outlets, as well as F&B and concept restaurants, said earlier reports.

Meanwhile, 30 percent of the 20-storey office tower has been leased mainly to property developers and consultancies since the middle of 2010.

The other part of the 1 Mont’Kiara development comprises a 34-storey office tower offering 186 office units. Of these units, 185 have been snapped by individual investors, said Aseana Properties.

Previndran Singhe, CEO of Zerin Properties, the agent which concluded the deal, said: “It is actually a decent buy for ARA considering that prices have moved since the execution of the sale and purchase (S&P) agreements.”

“Moreover, with Mont’Kiara being a developed, affluent community and a well-linked location, the mall is bound to do well with its immediate catchment,” he added.

Bukit Kiara Properties to expand outside traditional market

Jan 10,2011

Bukit Kiara Properties Sdn Bhd is planning to expand its brand of niche residential properties out of Mont'Kiara to other parts of Klang Valley.

The boutique developer is at an advanced stage of planning for two new projects in Jalan Tun Razak and Persiaran Madge in the Malaysian capital. One of the projects is set for launch in the third quarter of 2011, while the other is slated for launch next year.

The Persiaran Madge project will feature 19 residences on a five-storey block with a built-up area of 3,500 sq ft to 6,500 sq ft, priced from RM3.8 million or around RM3,500 psf.

Meanwhile, the Jalan Tun Razak project will comprise 160 fully-furnished service suites in a 20-storey block. The units will range from 750 sq ft to 3,000 sq ft, with prices starting from RM1.2 million or RM1,500 psf.

Aside from high-rise projects, Bukit Kiara Properties will also be seeking land of 50 to 100 acres to develop landed residences in gated communities, said Group Managing Director N.K. Tong.

“We may consider setting up joint ventures with landowners for such developments,” said Mr. Tong in an interview with StarBizWeek.

Since its foundation in 2000, the developer has completed two projects in Mont'Kiara – Aman Kiara and Hijauan Kiara.

Aman Kiara was the first project in Malaysia to feature condovillas and strata-titled bungalows. Completed in July 2004, it was handed over to buyers nine months ahead of schedule.

Hijauan Kiara, the company’s second project, was completed in 2008. It was the first condo project in Mont'Kiara to use a private lift lobby concept.

CapitaLand eyes expansion in Malaysia

Oct 5, 2010

Singapore-based property developer CapitaLand Ltd is seeking to expand its presence in Malaysia’s property sector with the robust turnaround of the nation’s economy at an estimated gross domestic product of about 6.5 percent this year.

CapitaLand keeps a long-term view of Malaysia’s real estate market and is dedicated to being a long-term property player in the nation, said Catherine Yao, vice president of marketing at CapitaLand Commercial Ltd.

“CapitaLand is one of the largest foreign real estate players in Malaysia today. It believes the market holds good potential and is actively looking for suitable sites to undertake more residential and commercial projects where appropriate,” said Yao in an interview with StarBizWeek.

With regards to the expansion, the developer will tap on its strengths in the office, shopping mall, residential and service residence business.

Aside from Kuala Lumpur, where it has established a large presence, CapitaLand is also considering other areas of the Klang Valley and strong growth markets such as Penang.

Projects will be planned based on market needs and opportunities for best returns for the company, she said.

“Generally, the fundamentals of Malaysia’s property market are still good and we expect sustainable demand for residential properties by both owner occupiers and investment buyers,” added Yao.

In the Malaysian capital, the developer has undertaken several high-end residential projects in the city centre, KL Sentral, Mont’Kiara and Bangsar, which include projects like Marc Service Residence, Suasana Sentral, Kiaraville, Seni Mont Kiara, Zehn Bukit Pantai and Hampshire Residences.

In the past few years, it has also completed several commercial projects, particularly in Mont’Kiara and Lot J in KL Sentral.

Besides Singapore, CapitaLand also has listed entities in Malaysia – CapitaMalls Malaysia Trust and Quill Capita Trust.

“In line with CapitaLand’s overall strategy for its REITs, both the listed entities are expected to grow in their asset size,” added Yao.

CapitaLand’s service residence business unit, The Ascott Ltd, is also looking for suitable opportunities to expand its presence in Malaysia.