Thursday, December 13, 2012
Malaysia: Property market may remain stable in 2013
December 13, 2012 by: fmt
By John Gilbert
KUALA LUMPUR; The Malaysian Institute of Estate Agents (MIEA) expects the property market to remain stable in 2013 as buyers buck expectations of busts and booms.
MIEA president Nixon Paul said recent news reports predicting a boom for next year are creating an artificial situation in the market.
“We view the property market to remain strong for 2013 and prices will continue to increase if the stock availability remains tight,” he told reporters at the MIEA Property Outlook 2012 here yesterday.
He said there were also misconceptions that the condominium market is going to drop, caused by low rental income and take-ups by expatriates.
“We believe the market for the condominium market will hold, especially in the areas of KLCC, Mont Kiara and several other places in the city,” he said.
However, Paul said many foreign companies are repackaging the housing allowance for expatriates into their salaries and this is causing many of them to seek lower rents outside the city centre and closer to international schools for their children.
Touching on the industrial market, Hectares & Stratas Sdn Bhd director Stephen Tew Peng Hwee said the demand for industrial space in the Klang Valley is strong but the supply is limited with overall vacancy being well below 5%.
“Capital values have increased as much as 50% over the past four to five years, rentals by 20%-30% and the main cause of these increases is not much on overly demand but rather lack of new supply,” said Tew.
“Today, the biggest gobblers of industrial space are trading and logistics companies and not manufacturing as in the past.”
As for Penang, Tew said there is also a supply shortage of industrial space and rentals and it can often be more expensive than the Klang Valley.
“The biggest demand for industrial space in Penang comes from the electric and electronics industry and it is not uncommon to hear companies complaining of the difficulty of finding space in Penang for logistics.”
He said the demand for industrial space in Johor has improved substantially over the past few years due to the success of Tanjung Pelepas port and better relations with Singapore.
“Many Malaysia-Singapore joint ventures to develop residential, commercial and industrial facilities in Johor have created a better environment and leadership guidance to Singaporeans to start seriously looking at building new factories in Johor.
“Demand for industrial land and buildings has been improving and land values have begun moving up a bit slower as Johor is a huge state with plenty of land,” he said.
Source reference link: http://www.freemalaysiatoday.com/category/business/2012/12/13/property-market-may-remain-stable-in-2013/
By John Gilbert
KUALA LUMPUR; The Malaysian Institute of Estate Agents (MIEA) expects the property market to remain stable in 2013 as buyers buck expectations of busts and booms.
MIEA president Nixon Paul said recent news reports predicting a boom for next year are creating an artificial situation in the market.
“We view the property market to remain strong for 2013 and prices will continue to increase if the stock availability remains tight,” he told reporters at the MIEA Property Outlook 2012 here yesterday.
He said there were also misconceptions that the condominium market is going to drop, caused by low rental income and take-ups by expatriates.
“We believe the market for the condominium market will hold, especially in the areas of KLCC, Mont Kiara and several other places in the city,” he said.
However, Paul said many foreign companies are repackaging the housing allowance for expatriates into their salaries and this is causing many of them to seek lower rents outside the city centre and closer to international schools for their children.
Touching on the industrial market, Hectares & Stratas Sdn Bhd director Stephen Tew Peng Hwee said the demand for industrial space in the Klang Valley is strong but the supply is limited with overall vacancy being well below 5%.
“Capital values have increased as much as 50% over the past four to five years, rentals by 20%-30% and the main cause of these increases is not much on overly demand but rather lack of new supply,” said Tew.
“Today, the biggest gobblers of industrial space are trading and logistics companies and not manufacturing as in the past.”
As for Penang, Tew said there is also a supply shortage of industrial space and rentals and it can often be more expensive than the Klang Valley.
“The biggest demand for industrial space in Penang comes from the electric and electronics industry and it is not uncommon to hear companies complaining of the difficulty of finding space in Penang for logistics.”
He said the demand for industrial space in Johor has improved substantially over the past few years due to the success of Tanjung Pelepas port and better relations with Singapore.
“Many Malaysia-Singapore joint ventures to develop residential, commercial and industrial facilities in Johor have created a better environment and leadership guidance to Singaporeans to start seriously looking at building new factories in Johor.
“Demand for industrial land and buildings has been improving and land values have begun moving up a bit slower as Johor is a huge state with plenty of land,” he said.
Source reference link: http://www.freemalaysiatoday.com/category/business/2012/12/13/property-market-may-remain-stable-in-2013/
Back to Main Page: www.VulcanInternational.blogspot.com
Monday, November 26, 2012
Penang Property | 14 projects approved under density guideline
Penang Property | Monday November 26, 2012
14 projects approved under density guideline
By WINNIE YEOH
winnie@thestar.com.my
THE Penang Municipal Council (MPPP) has approved 14 projects under the 87 units per 0.404ha guideline since it came into effect in June, 2010.
State Local Government and Traffic Management Committee chairman Chow Kon Yeow said stringent measures had however been imposed on developers to build the increased density units.
“The guideline is not applicable in established housing areas, World Heritage Site, the area from Tanjung Bungah Hotel to Mar Vista, along Gurney Drive, the bordering areas of Air Putih constituency and Air Itam constituency and re-zoning area.
“The floor area for the guideline is also capped at about 1,400sq ft per unit and MPPP has also imposed a price control for 25% of the units,” he said in a press conference at the City Hall in Esplanade yesterday. `
Of the 25%, Chow said developers would have to sell 5% of the units at RM200,000 per unit, 15% at RM300,000 per unit and 5% at RM400,000 per unit.
He said if a developer wished to build under the new guideline, the company would have to build an additional 30% low-cost or low medium-cost units in the same district.
“Developers will also have to submit a traffic impact assessment (TIA) report for the respective projects,” he said.
Chow added that currently 109.26ha of land on Penang island was available for the building of units under the new guideline.
He said this worked out to 8,100 units at 30 units per 0.404ha and under the new guideline, 23,490 units could be built.
Council president Datuk Patahiyah Ismail, who was also present, said there would be no capped floor plan size if developers chose to build 30 units per 0.404ha.
“With the 87 units per 0.404ha guideline, we can in a way curb super condos and the issue of expensive prices,” she said.
In recent news reports, many Penangites questioned the need for the guideline as they were concerned that higher density may lead to social and environmental problems for the existing residents.
The 14 projects which have been approved are in Jalan C.Y. Choy, Jalan Macalister, Jalan Seang Teik, Lorong Perak, Sungai Ara, Bukit Gambier (two projects), Lembah Permai, Jalan Jelutong (two projects), Jalan Paya Terubong, Jalan Perak, Jalan Tanjung Tokong and Jalan Pantai Jerejak.
Source reference link: http://thestar.com.my/metro/story.asp?file=/2012/11/26/north/12369232&sec=North
Back to Main Page: www.VulcanInternational.blogspot.com
14 projects approved under density guideline
By WINNIE YEOH
winnie@thestar.com.my
THE Penang Municipal Council (MPPP) has approved 14 projects under the 87 units per 0.404ha guideline since it came into effect in June, 2010.
State Local Government and Traffic Management Committee chairman Chow Kon Yeow said stringent measures had however been imposed on developers to build the increased density units.
“The guideline is not applicable in established housing areas, World Heritage Site, the area from Tanjung Bungah Hotel to Mar Vista, along Gurney Drive, the bordering areas of Air Putih constituency and Air Itam constituency and re-zoning area.
“The floor area for the guideline is also capped at about 1,400sq ft per unit and MPPP has also imposed a price control for 25% of the units,” he said in a press conference at the City Hall in Esplanade yesterday. `
Of the 25%, Chow said developers would have to sell 5% of the units at RM200,000 per unit, 15% at RM300,000 per unit and 5% at RM400,000 per unit.
He said if a developer wished to build under the new guideline, the company would have to build an additional 30% low-cost or low medium-cost units in the same district.
“Developers will also have to submit a traffic impact assessment (TIA) report for the respective projects,” he said.
Chow added that currently 109.26ha of land on Penang island was available for the building of units under the new guideline.
He said this worked out to 8,100 units at 30 units per 0.404ha and under the new guideline, 23,490 units could be built.
Council president Datuk Patahiyah Ismail, who was also present, said there would be no capped floor plan size if developers chose to build 30 units per 0.404ha.
“With the 87 units per 0.404ha guideline, we can in a way curb super condos and the issue of expensive prices,” she said.
In recent news reports, many Penangites questioned the need for the guideline as they were concerned that higher density may lead to social and environmental problems for the existing residents.
The 14 projects which have been approved are in Jalan C.Y. Choy, Jalan Macalister, Jalan Seang Teik, Lorong Perak, Sungai Ara, Bukit Gambier (two projects), Lembah Permai, Jalan Jelutong (two projects), Jalan Paya Terubong, Jalan Perak, Jalan Tanjung Tokong and Jalan Pantai Jerejak.
Source reference link: http://thestar.com.my/metro/story.asp?file=/2012/11/26/north/12369232&sec=North
Back to Main Page: www.VulcanInternational.blogspot.com
Saturday, November 17, 2012
Penang Property | 2-Storey Commercial Building For Rent
Penang Property | 2-Storey Commercial Building For Rent
Total Build Up area: 8,475 sq ft
☛ Asking rental: RM2.35 psf (negotiable).
☛ Car park: Ample of parking lots.
☛ Direction of building: Facing NW.
☛ Note: All the fittings in pictures are 'as is where is basis'.
Interior Setup:
1(a), 1(b). Equipped with three(3) meeting rooms partition with glass panel.
2(a), 2(b). Kitchenette and toilet(in excellence condition).
3(a), 3(b). Floor carpeted with offices.
4. Empty space and also offices.
Note: Potential tenant could get a copy of report by calling +6 016 451 1321 or email: Vulcan.Lau@gmail.com
Interested please contact Vulcan Lau, mobile: +6 016 451 1321 for details.
Total Build Up area: 8,475 sq ft
☛ Asking rental: RM2.35 psf (negotiable).
☛ Car park: Ample of parking lots.
☛ Direction of building: Facing NW.
☛ Note: All the fittings in pictures are 'as is where is basis'.
Interior Setup:
1(a), 1(b). Equipped with three(3) meeting rooms partition with glass panel.
2(a), 2(b). Kitchenette and toilet(in excellence condition).
3(a), 3(b). Floor carpeted with offices.
4. Empty space and also offices.
Note: Potential tenant could get a copy of report by calling +6 016 451 1321 or email: Vulcan.Lau@gmail.com
Interested please contact Vulcan Lau, mobile: +6 016 451 1321 for details.
Back to Main Page: www.VulcanInternational.blogspot.com
Wednesday, November 14, 2012
Penang Property | Debenhams PLC UK gears up for Penang
Friday November 9, 2012
Penang Property...Debenhams gears up for Penang
By CHRISTINA CHIN
sgchris@thestar.com.my
FASHIONISTAS can look forward to the opening of Debenhams in Gurney Paragon Mall, Penang, next year.
The exciting ‘British invasion’ is scheduled for July or August and work on designing the flagship store for the northern region is already underway, said Debenhams Malaysia managing director Andy Jackson.
The focus will be on the ladies with about 60% of the merchandise comprising womenswear.
Promising “great British products at great Malaysian prices”, he said the decision to bring the brand up north was a well thought through move.
In Malaysia, Debenhams has stores in The Curve, Mutiara Damansara, and Starhill Gallery, Jalan Bukit Bintang, since 2008.
The soon-to-be-opened 18,000sq ft outlet will be Debenhams first outside of the Klang Valley.
“We’ve invested some RM4mil in this outlet and we will be employing about 30 local staff.
“Gurney Paragon will be the epicentre of shopping in Penang and the brands we carry will provide a breath of choice in quality fashion.
“Fundamentally, we realised from the onset the importance of getting the pricing right.
“Now Penangites won’t have to travel down to Kuala Lumpur to get their Debenhams fix,” he said.
He said Debenhams’ debut was timely as fashion conscious Penangites had often visited the brand’s outlets in Kuala Lumpur and asked about the possibility of a store opening here.
“We anticipate opening more stores in Malaysia such as in Johor but the Gurney Paragon outlet will be a flagship store to cater to the whole northern region,” he said.
Debenhams represents London’s most famous edgy high street fashion names alongside chains like Topshop, Dorothy Perkins, Warehouse and Marks & Spencer.
With a legacy that dates back 200 years and more than 239 stores globally, Debenhams carries a host of designer lines exclusive to the chain, namely Julien McDonald, Matthew Williamson, Henry Holland, John Rocha and Jasper Conran.
Debenhams PLC UK head of international business development John Scott who was also present, said Asia offered the brand its biggest expansion opportunity.
“Clearly with the current crippling European economic conditions, Asia is our biggest growth area.
“We are looking at more stores in Indonesia, Philippines, Vietnam and China.
“Debenhams sees itself as an ‘international retailer’ rather than a British retailer looking to spread its wings globally,” he said.
The duo were speaking at a press conference after the signing ceremony between Jackson and Hunza Properties Bhd executive chairman Datuk Khor Teng Tong recently.
In his speech, state executive councillor Chow Kon Yeow who witnessed the signing, said Debenhams’ opening marked a continuation of Penang’s rich British presence here.
“The introduction of international brands like Debenhams will surely boost the state’s tourism, retail and food sectors,” he added.
Picture below:
Top guns: Debenhams Malaysia managing director Andy Jackson speaking to the media while Scott looks on.
Source reference link: http://thestar.com.my/metro/story.asp?sec=north&file=/2012/11/9/North/12270734
Penang Property...Debenhams gears up for Penang
By CHRISTINA CHIN
sgchris@thestar.com.my
FASHIONISTAS can look forward to the opening of Debenhams in Gurney Paragon Mall, Penang, next year.
The exciting ‘British invasion’ is scheduled for July or August and work on designing the flagship store for the northern region is already underway, said Debenhams Malaysia managing director Andy Jackson.
The focus will be on the ladies with about 60% of the merchandise comprising womenswear.
Promising “great British products at great Malaysian prices”, he said the decision to bring the brand up north was a well thought through move.
In Malaysia, Debenhams has stores in The Curve, Mutiara Damansara, and Starhill Gallery, Jalan Bukit Bintang, since 2008.
The soon-to-be-opened 18,000sq ft outlet will be Debenhams first outside of the Klang Valley.
“We’ve invested some RM4mil in this outlet and we will be employing about 30 local staff.
“Gurney Paragon will be the epicentre of shopping in Penang and the brands we carry will provide a breath of choice in quality fashion.
“Fundamentally, we realised from the onset the importance of getting the pricing right.
“Now Penangites won’t have to travel down to Kuala Lumpur to get their Debenhams fix,” he said.
He said Debenhams’ debut was timely as fashion conscious Penangites had often visited the brand’s outlets in Kuala Lumpur and asked about the possibility of a store opening here.
“We anticipate opening more stores in Malaysia such as in Johor but the Gurney Paragon outlet will be a flagship store to cater to the whole northern region,” he said.
Debenhams represents London’s most famous edgy high street fashion names alongside chains like Topshop, Dorothy Perkins, Warehouse and Marks & Spencer.
With a legacy that dates back 200 years and more than 239 stores globally, Debenhams carries a host of designer lines exclusive to the chain, namely Julien McDonald, Matthew Williamson, Henry Holland, John Rocha and Jasper Conran.
Debenhams PLC UK head of international business development John Scott who was also present, said Asia offered the brand its biggest expansion opportunity.
“Clearly with the current crippling European economic conditions, Asia is our biggest growth area.
“We are looking at more stores in Indonesia, Philippines, Vietnam and China.
“Debenhams sees itself as an ‘international retailer’ rather than a British retailer looking to spread its wings globally,” he said.
The duo were speaking at a press conference after the signing ceremony between Jackson and Hunza Properties Bhd executive chairman Datuk Khor Teng Tong recently.
In his speech, state executive councillor Chow Kon Yeow who witnessed the signing, said Debenhams’ opening marked a continuation of Penang’s rich British presence here.
“The introduction of international brands like Debenhams will surely boost the state’s tourism, retail and food sectors,” he added.
Picture below:
Top guns: Debenhams Malaysia managing director Andy Jackson speaking to the media while Scott looks on.
Source reference link: http://thestar.com.my/metro/story.asp?sec=north&file=/2012/11/9/North/12270734
Back to Main Page: www.VulcanInternational.blogspot.com
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