Property Penang | Warehouse for rent

Below are the rates of each class of warehouse :

A. Class 1 whse @ RM1.50/sf
B. Class 2 whse @ RM1.40/sf
C. Class 3 whse @ RM1.30/sf
D. Class 4 whse @ RM1.20/sf

Details:
Class 1 whse : 80’ x 160’ = 12,800 sf –Ceiling height : 45 feet ( gradient is very minimum )

Class 2 whse : 89’ x 120’ = 10,680 sf –Ceiling height : 24 feet ( lowest ) , 32’ feet ( highest )

Class 3 whse : 65’ x 225’ = 14,625 sf –Ceiling height : 22’ feet ( lowest ) , 30 feet ( highest )

Class 4 whse : 50’ x 160’ = 8,000 sf –Ceiling height : 20 feet ( lowest ) , 30 feet ( highest )

Interested please contact Vulcan Lau, Mobile: +6 016 451 1321 for more information.

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Penang Property | Penang to make hillslope project papers public

Thursday June 28, 2012

GEORGE TOWN: The public can view all documents relating to hill land development on Penang island from Monday.

The documents will be available at Komtar for viewing for two weeks, state Local Government and Traffic Management Committee chairman Chow Kon Yeow said.

“All relevant documents pertaining to projects involving land above 250ft from 2006 onwards will be declassified.

“The documents include working papers and minutes of meetings,” he told a press conference here yesterday.

Chow said the state government was bound by existing policies and guidelines created by the previous administration but was “committed to bolstering them to better safeguard public interest”.

He said under the Penang Structure Plan 2020 that was gazetted in 2007, “special projects” were not defined.

He said “special projects” was an escape clause for development in areas exceeding 250ft and on hillslopes with gradients of more than 25 degrees.

“In 2009, we defined special projects' as projects approved prior to the adoption of the plan and those on land zoned for residential use.

“The increase of approvals for projects above 250ft did not start with us. In 2006 and 2007, 18 such projects were approved.

“Approvals given by us after 2008 were only for amendments to plans approved previously,” he said.

On why the state government could not impose new guidelines after coming into power, Chow said it would be pointless as the developer could always revert to the plan that was approved by the previous administration.

The public wanting to view the documents at Bilik Perdana, Level 4, Komtar, must make an appointment with the council's development planning department by calling 04-259 2020.

Source reference link: http://thestar.com.my/news/story.asp?file=/2012/6/28/nation/11563147&sec=nation

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Penang Property | New development at Bayan Baru, Penang : Part 3

THE PROMENADE

Private Pre Sale Booking enjoy 10% discount. Interested please contact Vulcan Lau, Mobile: +6 016 451 1321 for more information.

Pictures in sequence:
Shop Front Night Scene | Service Suite Drop Off | Alfresco Street 1 | Shop Main Entrance | Service Suite Lobby | THE PROMENADE | Pool

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VULCAN INTERNATIONAL Real Estate Investors Club

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Penang Malaysia | THE Star Property Fair 2012 from July 12 to July 15

By WINNIE YEOH
winnie@thestar.com.my | Jun 20, 2012
All set for booming success
Top players to make property fair a must-visit event

THE Star Property Fair 2012 from July 12 to July 15 looks set to be a highly visited event with representatives from 40 property developers in-cluding major players like IJM Land Berhad and SP Setia Group attending a briefing.

IJM sales and marketing assistant manager Wan Zahrah Wan Abdullah said the company had been participating in the fair since its inception 10 years ago.

“We are taking part in the fair because it provides us with really good publicity.

“We do not have any new property to launch at the fair but we are expecting a lot of interest for our upcoming projects,” she said after the briefing at the G Hotel yesterday.

SP Setia sales and marketing manager Susie Loh said the company was looking forward to the fair.

She said the company had been taking part in the fair for 10 years.

“The fair always draws in the crowd as it is the largest such fair in the northern region. We have lined up a host of attractive promotions and packages for at least four projects.”

Ivory Properties Group Berhad corporate communications manager Ann Tan said the company would focus on the sale of its project, The Latitude in Mount Erskine, as well as the registration of The Wave at Penang Times Square.

“We look forward to the good turnout at the fair which is the best platform for us to showcase our quality and iconic homes to potential buyers.

“We have also not missed taking part in the fair as it is been a brand of its own and a yearly must- visit event for property buyers and investors,” she said.

Mah Sing Properties Sdn Bhd group central marketing head Jennifer Chow said visitors to the fair would be spoilt for choice as the company’s 11 projects would be featured.

“The fair conincides with our 18th anniversary celebration which started on June 16 and it will carry on until Sept 15.

“One of the highlights of the programme is the 2% ‘low downpayment’ for potential purchasers,” she said.

Chow added that selected banks would also offer pre-approved loan assessment services on the spot.

Sunway Bintang Sdn Berhad senior manager Venus Ho said the company would be featuring six projects in Penang, Ipoh and the Klang Valley during the fair.

“Visitors can register for their preferred projects. We will also be offering special packages for them.”

The briefing was conducted by Star Publications (M) Bhd marketing services executive Eric Voon.

Touted as Malaysia’s premier showcase for stylish living, the three-day property extravaganza will be held at the Gurney Plaza and adjoining G Hotel.

Organised by The Star for the 10th year, the fair will be opened to the public from 10am to 10pm daily. Admission is free.

To date, 43 exhibitors, including financial institutions and investment companies, have confirmed their participation.

Other major players included DNP Land, Oriental Realty, Modular Platinum (Ideal Property), Bukit Kiara Properties, Andaman Property, Henry Butcher, KPWG International, Magna Putih, Province Valley and Tambun Indah Land.

This year’s new faces include Elite Forward, Sunrise Manner, Solid Tribute (Asia Green Group), GSD Land, Quantum Metro Deve-lopment, Zetapark Development, East West One Consortium, PJD Eastern Land, Airmas Management, Property Talk, Avenue Properties and Popular Realty.

A special ‘Star-IJM Contest’ has been lined up for the fair. IJM Land is the official sponsor while Hong Leong Bank is the sponsor for the talks and forums.

Visitors who fill in the form published in the newspapers will be entitled to a lucky dip offering prizes including digital devices and tablets.

A booth will also be set up for those wanting to subscribe to The Star’s newspaper and ePaper bundle.

Source reference link:
http://www.starproperty.my/PropertyScene/PropertyScene/22418/0/0

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MALAYSIA | Monday June 11, 2012 KUALA LUMPUR land price too high?

Freehold land along Jalan Bukit Ceylon selling for RM700 per sq ft

KUALA LUMPUR: The three parcels of freehold land along Jalan Bukit Ceylon, Kuala Lumpur that was recently put up for sale are priced on the high side, property professionals said.

Last week, advertisements appeared for the sale by tender of three parcels totalling 36,563 sq ft with a reserve price of RM26mil, or about RM700 psf.

“On an as-is' basis, this is quite high. I would reckon a price of RM500-RM550 is more realistic considering its residential use status,” a valuer said.

Sources familiar with the sale said interested parties have to pay more if they were to convert it for commercial use.

“Commercial status fees can vary and it depends on a case to case basis by the authorities. It could be that after conversion, the cost of this piece of land may rise up to RM1,500 psf or more, which further adds to the costs of development,” sources said.

“If you are a developer, you must ask yourself whether you will be able to make a profitable sum,” he said.

However, a valuer said RM700 seems fair and the residential status was a non-issue.

“A developer can still build residential units and owners will not have to pay commercial rates for utilities. Although it may not be close to rail links, it is located in the city,” said a source.

StarBiz understands that the piece of land, which is located at the intersection of Jalan Bukit Ceylon and Jalan Ceylon, is situated on a hilly area and prospective developers who may be eyeing the piece of land will need to carry out additional levelling works, which will further add to the costs of development.

“I would reckon a 20% margin is comfortable before developers actually decide to do this (carry out development work).

“Ground works will definitely add a substantial amount to the costs as well,” a developer said.

Another property consultant used the example of a piece of prime freehold land measuring 50,063 square feet located in nearby Jalan Tengah, which is just next to Eastern & Oriental group's St Mary's Residences.

This piece of land is being transacted at about RM100mil, which prices it close to RM2,000 psf.

However, this piece of land has a commercial status, which does not require any additional costs for conversion.

It is also located in a relatively more centralised area nearer to public transport facilities.

Picture below: The piece of land, which is located at the intersection of Jalan Bukit Ceylon and Jalan Ceylon, is situated on a hilly area.

Source reference link:
http://biz.thestar.com.my/news/story.asp?file=/2012/6/11/business/11447665&sec=business

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M’sian investment in Aussie properties to grow

Wednesday June 6, 2012

By DAVID TAN
davidtan@thestar.com.my

GEORGE TOWN: Investments from Malaysia in the Australian property market is expected to grow by about 15% this year from RM125mil in 2011.

Property Talk director Steven Cheah said in an interview that for the past two years the investment in Australia had remained flat at about RM125mil per annum.

“This was due to the stronger Australian dollar. But since March, the Australian currency had weakened slightly and so we are anticipating more property investments in Australia.

“We have also been getting a lot more enquiries since March 2012 about investing in properties in Sydney and Melbourne,” he said.

Cheah said every year many Malaysians go to study in Australia, thus creating a severe shortage of property for rental.

“Many parents find that buying property for their children make more economic sense than renting. Once their children completed their education, the property can be rented as rental income or they can sell with good capital income,” he said.

According to Cheah, Melbourne was the top destination for Malaysian property investment funds.

“This is because many Malaysians have relatives who have migrated to Melbourne, where you can find a variety of Malaysian restaurants.

“According to the latest research by Australian Property Monitors, of the major capital cities, Melbourne has been the standout performer for house price growth over the last five years, with prices increasing almost 30% in just 15 months.

“Perth was the worst performing city, with the median house price unchanged in five years, which is largely a hangover from a resource-fuelled boom in prices in the early 2000,” Cheah said.

He added that Sydney and Melbourne were always voted as the top three most livable cities in Asia by ECA International, a research firm with its Asia headquarters in Hong Kong.

On Mirvac's new project in Melbourne, Cheah said the Array project, comprising 169 condominiums was next to the Yarra River.

“The project, introduced in Shanghai recently, received very positive response. Some 35 units were sold in one week,” he said.

The Array condominiums, positioned on the north-facing bank of the Yarra River, with built-up areas from 55 sq m onwards are priced from A$513,000.

“A limited number of three bedroom, deluxe Sky Residence options, priced from A$1.41mil, is also available,” Cheah said.

The project will be exclusively previewed at Hilton Kuala Lumpur on June 9 and June 10.

“Construction work on the Array project has started and is scheduled for completion in end-2014,” Cheah added.

Source reference link: http://biz.thestar.com.my/news/story.asp?file=/2012/6/6/business/11405667&sec=business

Picture: Artist impression of the Array project in Melbourne by Mirvac.

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Penang Property | Property Penang | Buildings only on land below76m(250feet) in height

Wednesday June 6, 2012

GEORGE TOWN: Hillslope development in Penang will only be approved if the land is less than 76m high.

However, State Local Government and Traffic Management Committee chairman Chow Kon Yeow said developers who had obtained planning permission from the Seberang Prai Municipal Council and Penang Municipal Council prior to 2007 were exempted from the ruling.

“Yes, we have approved hillslope development but our approval is subject to scrutiny by the high-risk land development committee as well as over 10 other relevant authorities, including the local councils' internal departments,” he said.

Chow said the local councils were finalising their reports on hillslope development approvals for submission to the Housing and Local Government Ministry.

“We will submit a full report by this week,” he said.

State Public Works, Utilities and Transportation Committee chairman Lim Hock Seng said recommendations of the high-risk land development committee, which he heads, were not binding on the local councils.

The committee comprises professional bodies such as the Mineral and Geo-Science Department, Public Works Department, Drainage and Irrigation Department and Public Works Institute.

State Town and Country Planning, Housing and Arts Committee chairman Wong Hon Wai said hillslope development was necesssary as the Penang population of 1.6 million was expected to reach two million by 2020.

Source reference link: http://thestar.com.my/news/story.asp?file=/2012/6/6/nation/11426213&sec=nation

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Malaysia | Hassle-free Land Split

>Public can go online for speedy division of small estates<

BY HEMANANTHANl SIVANANDAM
newsdesk@thesundaily.com

8-June-2012

PUTRAJAYA: The public can now submit online applications for the division of small estates (valued bdow RM2 million). Natural Resources and Environment Minister Datuk Seri Douglas Uggah Embas said the online application service is an alternative platform to help heirs dealing with claims for the division of property bypass the hassle of having to go to the Office of Small Estate Distribution for due procedures.

"This platform allows for anywhere, as long as there is internet access," said Douglas when launching the service at his ministry yesterday.

He said the Department of Director- General of Lands and Mines (Federal), which is offering the service, is responsible for handling and solving the division of estates valued at RM2 million and below, as stipulated under the Small Estate (Distribution) Act 1955.

The Act, Douglas said, was established to help people solve the problem of estate distribution without much hassle.

"With this Act, all small estate settlement processes can be done at the Inheritance Division Unit of the Department of Director-General of Lands and Mines (Federal).

"Therefore, beneficiaries will no longer have to deal with the matter in the High Court," said Douglas.

He said the service also allows all parties involved to check the status of registration, property valuation, confirmation from the High Court, and notice of trial.

The Department of Director-General of Lands and Mines (Federal) has also set a target of three months to settle each claim.

Douglas said that last year the department received 53,928 cases nationwide and managed to solve 63.3% of them within the five-and-a half-month deadline.

He also said that from January to April this year, the department disposed of a total of 73.3% of the cases, with an average of 4,000 to 5,000 applications processed every month.

FOR MORE INFO visit: www.kptg.gov.my

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Malaysia | Small Estate (Distribution) Act 1955

The public can now submit online application for the division of small estate(valued below RM2 million)
as stipulated under the Small Estate (Distribution) Act 1955 MALAYSIA.

For more details refer to: http://www.kptg.gov.my/ms/small-estate-inheritance.html

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Cyberjaya set to become Malaysia’s Silicon Valley by 2020

June 2, 2012 by: FMT Staff

VulcanInternational's comment: I was in Cyberjaya barely one month ago for the observation of Pangaea's Paragon (OSK Development) progress prior to the property roadshow at Gurney Plaza , Penang as I'm involved in marketing it in Penang.

It was Sunday morning and traffic at Cyberjaya was clear(few cars were on the road) along the way to the site. Traffic did pick up nearing MMU (MultiMedia University) with students been seen waiting at bus stop. The Pangaea's Paragon is about 400 meter away from MMU. In between them stands Cyberia Smarthomes. Other development at it's vicinity are Symphony(across the road) and The Arc(beside Pangaea's Paragon).

The Pangaea's Paragon is build on six acres of land comprising SOFO units, Gallery, Patio, three blocks of condo and a hotel. Picture(below): Model of Pangaea's overall development(in blue color).

All these developments will contribute to the prosperity of Cyberjaya.
____________________________
CYBERJAYA: The master developer of Cyberjaya, Setia Haruman Sdn Bhd, is confident Cyberjaya will be fully transformed into the Silicon Valley of Malaysia by 2020.

Its chairman, Mustapha Kamal Abu Bakar, said by then Kuala Lumpur and Cyberjaya would be seamless intelligent cities with high-impact companies providing high-value jobs.

“We’re ready, although a little late, but it’s timely. Ultimately this whole area would become a Multimedia Supercorridor,” he said at a press briefing.

Promising to be a city of the future, Cyberjaya has become a leading edge for multimedia centres in Malaysia, capable of attracting world-class multimedia and ICT companies, as well as, professionals and students.
Mustapha said at present, a new wave of investment by 16 companies was taking place, which would inject about RM20 billion until 2016.

Out of the RM20 billion, Setia Haruman will contribute RM2.5 billion and enjoy a margin of between 20% and 30% from its investment.

Mustapha said the development in Cyberjaya has also gained momentum, with the price of office space having soared by about 30% in the last two years.

Previously, he said the company had to subsidise office rental rates.

“But now it has risen to RM5 per square foot, from RM1 previously. That gives an indication of growth. I am anticipating by 2016, the rental is going to be far better than RM5,” he said.

Besides its high potential, Mustapha said the property market in Cyberjaya would be stable because there were almost 20,000 students living in the area.

“Even if there’s a change in market situation for a period of time, Cyberjaya can still take it,” he said.

Choice of investors

Setia Haruman has been entrusted with the role to plan, design and prepare the primary infrastructure for the Cyberjaya Flagship Zone.

The area covers 2,851 hectares of freehold land consisting of four main zones known as enterprise, commercial, institutional and residential.

Each zone is fully equipped with a host of intelligent network services and interactive broadband services.

The city is also fully equipped with wireless interactive city broadband services, fibre-optic networks and the latest information technology infrastructure and facilities.

Mustapha said Setia Haruman still has about 400 hectares of landbank left to be developed in the future.

“Bear in mind there’s no other developer that has that amount of landbank fully equipped with infrastructure, amenities and facilities.

“My job as a developer is to provide facilities so that it becomes the choice of investors. Time is the essence for the whole thing,” Mustapha said.

- Bernama

Source reference link:
http://www.freemalaysiatoday.com/category/business/2012/06/02/cyberjaya-set-to-become-malaysias-silicon-valley-by-2020/

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Penang Property | New development at Bayan Baru, Penang : Part 2

The floor plan layout.

Private Pre Sale Booking enjoy 10% discount. Interested please contact Vulcan Lau, Mobile: +6 016 451 1321 for more information.

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