theSun Property October 2016

4 / 5

LOCATED in a hotspot in the
KlangValley is a vibrant low-
density, transit-oriented
development by Selangor
Dredging Berhad (SDB) called
SqWhere ServicedApartments.
EXTRAORDINARY
SELECTION
Offering 255 living units of varied
built-up spaces to live comfortably
in, SqWhere providesmany
choices for residents, some of
which include its Type E unit
(1,055 sq ft) that comes with two
bedrooms and two bathrooms, or
its limitedType Ameasuring a
spacious 2,476 sq ft for luxurious
living featuring dual-key entry to a
four-bedroomand four-bathroom
unit. Buyers or investors can
choose four other unit types to
suit their needs. The good news –
each unit comes with aminimum
of two reserved parking spots.
PURPOSEFUL SPACES
True to SqWhere’s philosophy
that everything has a purpose,
every unit sports a rectilinear
layout formaximumefficiency
with no awkward columns that
stand in theway of giving home a
personality of its own.
The larger-than-average
windows light up 20% to 28%of
interiors and improves ventilation
by 10% to 17%, which not only
provides amore calming and
relaxing setting but also helps
homeowners save on utilities and
the environment to some degree.
Expect a fitted-out kitchen
completewith cabinets, a
refrigerator plus hood and hob
while bathrooms comewith the
norm, alongwith a cabinet and
beautifully laid out glass and
mosaic-tiled shower area.
The “icing on this cake” –
SqWhere serviced apartments are
designed to be earthquake
resistant.
ADDED BENEFITS
Other impressive points are the
connectivity and its prime
location, close to:
• the PLUS, NKVE, LDP, MRR2,
SPRINT andGuthrie Corridor
highways;
• prestigious higher educational
institutions, international
schools andmedical centres;
• nearby shopping centres such as
SunwayGiza, 1 Utama, IPO, Ikea
andThe Curve; and
• walking distance to the
Kampung SelamatMRT station
via a 75m link bridge.
SqWhere ServicedApartments
are already open for registration
of interest.
For additional information,
visit the SDBGallery, open daily
from9am to 6pmor the
developer’s website.
only to curb the onset of retirees
with debts.
In short, affordable homes and
schemes are more available now
yet insufficient/inefficient in
meeting the people’s needs. With
the new budget today, let’s see
what’s in store for Malaysians in
property.
Follow our article next week on
another option to own your own
“crib”, not necessarily the standard
specs offered in the market.
Email your feedback and
queries to: propertyqs@
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XFROMPAGE 22
Hunza –developingPenang
for the future
DATUK Khor Siang Gin, Hunza
Properties Berhad (HPB)
managing director, is focused and
clear about what he wants for the
future of the company and Penang.
Before settling down for an
interviewwith theSun, Khor spoke
to a board member briefly on the
importance of highlighting HPB’s
next big project – the Penang
International Commercial City
(PICC) and his vision for Penang.
“Looking forward, my focus will
be on the PICC, which is located in
Bayan Baru.
“The integrated development
will involve three phases and
encompass a massive 9.4 million
square feet,” Khor informed.
He said the name PICCwas
approved by the state government.
The development project will
include the building of some 3,000
units of affordable houses, which
will be built throughout all the
three different phases.
Spurred by the state
government’s efforts in making
Penang an international and smart
city, HPB, with the same intent, has
scheduled for commencement of
work on the project to start in 2017.
Sharing how proud he is in the
way HPB has tended to the
squatter issue in Bayan Baru and
solved it amicably, Khor expressed
his excitement in beginning work
on the PICC, which he says is going
to be an iconic landmark for the
state way beyond 2020.
The PICC is an integrated
development which will include a
commercial component offering
retail shops, hotels, a private
hospital, business process
outsourcing (BPO) offices, as well
as educational institutions.
The modern integrated city will
feature some big brand names,
hotels included, of which Khor
preferred to keep mum of at this
time, saying “it will be announced
at a special and specific time”.
At some RM8 billion in gross
development value (GDV), the
PICC is slated for completion in
about five years from the time
work starts.
Once launched, the property
will be marketed by HPB using
modern sales concepts and
marketing strategies.
Humble, yet determined
like his father Datuk Seri Khor
Teng Tong, Khor Jr said that HPB
will be more than just selling
houses.
“It will be selling concepts. The
PICCwill come as a platform to
showcase HPB’s modern concept
communicating a place for leisure,
work, a place of dwelling that is
also facilitated with a medical
centre, which is crucial,” he said.
On the recent launch of Alila 2
in Tanjung Bungah, Khor said the
condominium project boasts a
green and ecological environment
with enchanting landscapes
surrounding two towers, located
on 9.8 acres of undulating land
where Alila Homes was first
launched by HPB.
Alila 2, situated within the
spacious parcel, is set to be
completed by the end of next year.
The selling point of this second
project is its low density, with only
270 units built across an extensive
area.
The project also bears an
auspicious character offering good
feng shui apart from five-star
indoor and outdoor facilities.
It was learnt that the greenery
within Alila Homes itself
commanded massive expenses,
totalling some RM12 million.
“It is quite difficult and unlikely
for one to find another property
like Alila 2,” said Khor, especially
since the project carries a GDV tag
of RM600 million.
To date, 40% of Alila 2 has been
sold.
Currently waiting for the project
to be Green Building Index (GBI)
certified, HPB is at the same time
working on another new project
calledMekarsari, situated opposite
Bandar Putra Bertam, which sits on
a 32ha plot and will offer nearly
1,000 homes on completion.
Development will run in
multiple phases with the first
offering 253 single-storey semi-
detached houses and single-storey
zero-lot bungalows, informs Khor.
He said phase 1 of Mekarsari has
a GDV of RM112 million.
The project recently launched in
September this year is expected to
be completed by the end of 2018.
Prices for semi-detached units will
start fromRM411,000 while zero-lot
bungalows will come with a tag of
Exterior of Alila 2 in Tanjung Bungah.
between RM450,000 and
RM500,000.
Groundwork for this project has
already begun in mid June this
year.
HPB aims to sell 70% of the
units within the first six months of
the launch.
With all these projects to
keep HPB and Khor busy, the
focused and formidable managing
director is all excited and on
leading the company into its next
chapter as the developer
responsible in forming Penang’s
future landscape.
Hipat SqWhere
HOUSING LOANS
While all the above may provide
valuable information and set hearts
beating faster, excited onmaking
their first house purchase, here are
a few pointers to help get your loan
approved, but only after you have
gone through all else in Adis’ book
with a fine-toothed comb.
Of late, housing loan rejections
have made headlines. While many
pointed fingers at Bank Negara
Malaysia’s (BNM) property cooling
measures for negatively affecting
the industry, few looked at the
context of what these loan
rejections led to.
For one, it generated additional
housing ownership schemes and
programmes to help the people
own homes. It also highlighted the
lack of lower-costing housing and
pointed out that millennials just
starting out in their careers, earning
less than RM3,800 (roughly), are
today categorised in the low-
income bracket. Most are unable to
meet credit requirements, hence
not eligible for end-financing for
even terraced homes or
condominiums in urban areas in
bigger cities (which in general cost
well above RM500,000).
GENERAL SLOWDOWN
An article from also
highlighted that the home loan
rejection rate in actuality had
declined from 30% in 2014 to 20% in
2015. Without doubt, the property
market inMalaysia has slowed
down. A report fromKnight Frank
Malaysia on the market for H1 2016
revealed that the volume and value
of residential property transactions
have been declining in Kuala
Lumpur and Selangor (reports
Napic).
Applications for home loans has
Points to boost home-loan approval
* Ensure you have good credit records and all other payments (if
any) are up to date.
* Keep repayments and service loans timely so as to keep a clean
financial slate.
* On applying for a loan, disclose all financial information
required correctly.
* Use “loan calculators” available prior to applying for loan to
further understand your credit rating and financial position.
* Apply for government and government-assisted schemes and
programmes where possible so as to lessen the principal loan
amount.
also dipped by 10% in 2015
compared to 2014 and the amount of
loans approved has also taken a
14.6% dip, with a lower ratio of
approval/applications at 50.2% in
2015 compared to 52.9% in 2014.
To this, the government
announced the building of more
affordable housing units under
various assisted schemes and
programmes (some mentioned in
our part one article last week). The
household income ceiling was also
raised fromRM8,000 to RM10,000
and the Rent-To-Own scheme was
established andmade available.
However, BNMcapped the loan
tenure to a maximumof 35 years,
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theSun ON FRIDAY | OCTOBER 21, 2016