theSun Property February 2016

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ON FRIDAY FEBRUARY 12, 2016
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Property overview 2016
General overviewof the local propertydevelopment scene
PART1
OVER the next fewweeks,
theSun shares CH
Williams Talhar &
Wong’s (WTW) property
market 2016 report. Kicking off the
series, we beginwith a couple of
words fromWTW’s managing
director Foo Gee Jen.
“With theMalaysian Economy
further battered by the twin shocks
of plunging oil and commodity
prices, plus the depreciation of the
Ringgit by almost 35% in 2H2015, it
is understandable that performance
in almost all regions and across all
property sectors was lacklustre
during the year. The outlook is
expected to remain cautious going
into 2016 ...generally. However,
we expect better days ahead in a
number of projects and certain
regions ...”
As the economy of a country,
the development and projects
in a particular area all affect the
“rise or fall” of property in the
surrounding location – especially
the industry and manufacturing
sectors, the primary engine of
economic growth – the mega
infrastructure projects on-going
in and around the Klang Valley
continue to drive the overall
market. In this case, one can be
optimistic about capital
appreciation, yet on the other
hand, rising land prices can add
to the current dilemma of
insufficient affordable housing.
INFRASTRUCTURE PROJECTS
Here are some rail infrastructure
projects in the country that are
expected to spur economic
growth, thus “affect” property in
the surrounding area.
Other government invested
projects that are reported to affect
the local property market include:
1) the Bus Rapid Transit (BRT)
project connecting Kuala
Lumpur to Klang, and the
Mass Rapid Transport (MRT)
system linking Sungai Buloh
to Serdang and Putrajaya. The
BRT is designed to include
25 stations along the Federal
Highway; the MRT SSP line –
36 stations – integrating with the
current LRT, Monorail, KTM
Komuter and the upcoming
MRT SBK line.
2) expressway projects within
the Klang Valley area like the
DASH and SUKE highways,
theWest Coast Expressway
(WCE) and the extension of the
MEX highway.
3) the Bayan Lepas Light Rail
Transit (LRT) and Pan Island
Link (PIL) Highway – both
spanning some 20kmeach,
enhancing its reachwithin
communities to easily connect
the people to a wide range of
interchanges and areas. Not
forgetting Penang’s tramand
catamaran systems, highway
upgrading projects, bus rapid
transits and improved ferry
services betweenGeorgetown
and Butterworth.
4) Penang’s South Reclamation
scheme (SRS) said to form two
new islands and a smaller third
one, all whichwill cater to future
developments and demand for
office buildings, residential units
and public facilities. Moreover,
Penang Sky Cab, a cable car
system linking Penang Island
and Butterworth is being
researched.
5) the long-awaited Electrified
Double Track Project (EDTP) in
Gemas, Johor Baru, easing travel
between the north and south
once completed.
All the areas in between and
around the construction of the
abovementioned transportation-
linked projects will definitely have
an effect on the propertymarket in
the surrounding areas.
LAND DEALS
Many high end developments were
constructedwithin Kuala Lumpur
city centre, eg. four plots of
development within the Tun Razak
Exchange (TRX), andmore are
expected this year.
Other notable land deals include
26 plots of leasehold land totaling
2,198.40 acres in Ijok, Kuala
Selangor. The development of this
new township has cost some
RM1.181 billion. Within this area,
word has it that a developer has
signed two sale and purchase
agreements to purchase five land
parcels measuring 17 acres,
proposed for amixed development
project.
NOTABLE PROJECTS IN THE
PIPELINE INCLUDE:
A] Bukit Bintang City Centrewhere
the former Pudu Jail site has
been approved for amixed
residential and commercial
development project.
B] TRXLifestyle Quarter sits on 17
acres of land proposed to offer a
gross floor area of around two
million square feet.
C] Existing facilities in the Bukit
Jalil National Sports Complex
will undergo refurbishment,
alongside the creation of a new
fully-integrated sports hubwith
world-class infrastructure,
known as KL Sports City.
D] Cyberjaya City Centre
E] BB Plaza
Watch this column over the
next fewweeks to learn the
market overviewexpected into
this year in the north, south,
Sabah and Sarawak.
Adailyescapade
WHATWAS once former plantation land is
nowBandar Seri Botani, a fully-integrated
township development by the Taiko Group.
Located southeast of Ipoh City, Bandar Seri
Botani brings nature to your doorstepwith its
“nature in themidst of living” lifestyle concept.
Wake up each day surrounded by greenery
within the 32-acre Eco Park 1 and 24.6-acre Eco
Park 2. Despite being deemed the place for an
escape, Bandar Seri Botani has all the amenities
one needs to go about their daily lives.
Young, bright minds are guaranteed proper
educationwith amyriad of choices for schools.
SJK(C) Padang Gajah is available for primary
students, while private schools Shen Jai High
School and Poi LamHigh School are catered to
secondary school students, and Fairview
International School is available for parents
whowant a different kind of education for
their children.
Commercial centres such as Aeon, Tesco
hypermarket, Pengkalan EmasMall and
Gunung Rapat commercial area andwet
market are available for a quick pick-up of
groceries or just a leisurely stroll with friends.
Bandar Seri Botani is easily accessible with
the nearby Sultan
Azlan Shah airport
and BatuGajah KTM
station, making
commuting easy.
It is a 17.9-acre
commercial
development which
will consist of a
supermarket, sports
centre, gourmet
garden and retail
outlets is in the
pipeline.
Taiko Group recently launched Phase 7.3(1),
offering 20’ x 75’/80’ double-storey terrace
houses spanning across some 2,225 sf. Each of
the 304 units are sold fromaround RM373,000.
The freehold units are fully-extended across a
large built-up area that consists of four
bedrooms, three bathrooms (20’ x 75’) or four
bathrooms (20’ x 80’), and a family hall.
Bandar Seri Botani practices a renovation-
free concept, which is why each home is given
a polished touchwith a tiled driveway and
upgraded finishes. Each unit is equippedwith
an individual home alarm system, complete
with securedmetal grilles.
Launching soon is Phase 7.3(2), offering 173
units of 24’ x 80’ double-storey terrace houses.
With a built-up area of 2,625 sf, each unit offers
four bedrooms and four bathrooms with prices
starting fromRM480,000. 55% are already
finishedwith the balance units expected to be
completed inQ1 2017.
Visit the Taiko Group at Booth no. 102 at the
Swhengtee Real Estate Investment Expo KL
2016 fromFeb 26 to 28 at Midvalley Exhibition
Centre (MVEC) for more information.
PROJECT NAME CONNECTIVITY
EST. PROJECT
COST
(RMBILLION)
COMMENCEMENT DATE
(PROGRESS AS AT 2015)
Electrified Double Track Project (EDTP)
Ipoh – Padang Besar
Ipoh, Perak – Padang
Besar, Perlis 12.5 In operation since July 2015.
Electrified Double Track Project (EDTP)
Gemas – Johor Baru
Gemas, Negeri
Sembilan – Johor
Baru, Johor
8 Bidding and Awarding Stage.
LRT Line 1 & 2 Extension
Subang Jaya
– Puchong
Ampang Line
Phase 1: Operational on 31
Oct (Awan Besar. Muhibbah,
Alam Sutera & Kinrara BK5).
Phase 2: Operational by March
2016.
Kelana Jaya Line
Scheduled to open June 2016.
LRT Line 3 Bandar Utama – Shah
Alam – Klang 10 Construction works scheduled
to commence in 1Q 2016.
KVMRT SBK Line Sungai Buloh – Kajang 22
Station Sungai Buloh
– Semantan will be operational
by Dec 2016.
KVMRT SSP Line Sungai Buloh
– Serdang – Putrajaya
Construction works scheduled
to commence in 2Q 2016.
BRT Sunway Setia Jaya, Sunway
– USJ 87
0.63
In operation since June 2
2015. Station USJ 7 will only
be operational by 2016.
BRT KL – Klang
Central Market, KL
– Klang 1.5
Announced in Oct 2015 and
Budget 2016.
BRT Kota Kinabalu - 1.0 Announced in Budget 2016.