You City is the latest project development by PJ Development Holdings Bhd (PJD) which is an integrated development project with gross development value (GDV) of about RM750 million in Cheras mid-2011.  You City would be on a 20-acre area project development which includes commercial units and high-rise service apartments as well as a retail shopping mall.

Currently You City is open for registration.






Residential Suites

• Studio: 550 sq. ft
• 3 bedrooms:1,200 - 1,391 sq. ft
• 3+1 bedrooms:1,404 - 1,450 sq. ft
• Duplex: 2,990 sq. ft
• Penthouse: 2,521 - 2,990 sq.ft. 

Retail Outlets: 890 - 1,254 sq. ft


Location Map

The Pearls@Taming Mutiara 2, Sungai Long, Cheras is the latest prestigious residential project developed by Tanming Management Sdn Bhd, a subsidiary of Tanming Berhad. With 3 bungalow designs, namely : South Sea Pearl, Tahitian Pearl and Akoya Pearl, it is a FREEHOLD development for 77 units of bungalows. Each bungalow will have built-up from 7,020 - 14,935 sq.ft. and comes with 7 + 1 bedrooms and 7 bathrooms.

Here are some latest site progress photos as at November 2011. From the pics taken, it is clear that construction works are at the end stage. The signboard for "Taming Mutiara 2" is also up.

As from our previous post, SHL Consolidated Berhad, the main developer for Bandar Sungai Long is currently constructing the next phase of Palm Walk double storey terrace houses which are located next to a large granite hill. With the total of 241 units, the latest development consists of 150 units (20" X 70"), 76 units (20" X 75") and 15 units (20" X 90"). At this moment in time, there is no official info from SHL. Will post the latest news whenever it is available. Here are the latest site progress photos and video as at 12th November 2011.

KUALA LUMPUR: Malaysia Prime Minister Datuk Seri Najib Razak in tabling Budget 2012 in the Dewan Rakyat on Friday Oct 7, 2011 announced several proposals related to housing and the property sector.

Below are some highlights from the Budget Speech:

* To accelerate the development of Kuala Lumpur International Financial District (KLIFD), an incentive package has been proposed:

Income tax exemption of 100% for a period of 10 years and stamp duty exemption on loan and service agreements will be given to KLIFD-status companies;
Industrial Building Allowance and Accelerated Capital Allowance for KLIFD Marquee Status Companies;
Income tax exemption of 70% for a period of five years for property developers in KLIFD.

* To attract foreign and domestic investments in the capital market and to promote the development of the Real Estate Investment Trusts (REITs) industry, it is proposed that the concessionary tax rate of 10% on dividends of non-corporate institutional and individual investors in REITs up to Dec 31, 2011 be extended for a period of five years commencing Jan 1, 2012 until Dec 31, 2016.

* To further encourage investment in hotels, the Government proposes that hotel operators in Peninsular Malaysia investing in new 4- and 5-star hotels, be given Pioneer Status with income tax exemption of 70% or Investment Tax Allowance of 60% for five years. For hotel operators in Sabah and Sarawak, tax incentives had been given. In addition, the Government will corporatise the Malaysia Healthcare Travel Council to promote and develop Malaysia as a main destination for healthcare services in this region.

* Proposal to review the current rate of 5% on real property gains tax (RPGT) as the government found it ineffective in curbing real estate speculative activities. It proposes that for properties held and disposed within two years, the RPGT rate be 10%. For properties held and disposed within a period exceeding two years and up to five years, the rate would be 5%. Properties held and disposed after fie years are not subject to RPGT.

* To meet the demand for houses from those earning below RM3,000, the Government proposes to expand the recently My First Home Scheme launched in March 2011, to increase the ceiling of house prices under the scheme from a maximum of RM220,000 to RM400,000. This improved scheme will be available to house buyers through joint loans of husband and wife beginning January 2012.

* The government will also identify areas in the vicinity of MRT, LRT and other public transport system to be developed into housing projects under the 1Malaysia People’s Housing (PR1MA) to develop affordable houses for the middle-income group. The government also intends to develop several plots of government-owned land around Sungai Besi and Sungai Buloh. In 2011, 1,880 houses will be built in Putrajaya and Bandar Tun Razak, while in 2012, a total of 7,700 houses will be built in Cyberjaya, Putra Heights, Seremban, Damansara and Bukit Raja.

* Proposal to provide 100% stamp duty exemption on loan instruments for the purchase of houses

* To encourage the construction of more houses using the build-then-sell concept, the prime minister announced that Islamic banks have agreed to provide syariah-compliant financing and undertake construction risks. Instalments only commence after the house is completed. This scheme will be implemented for houses costing RM600,000 and below.

* For the lower income group who have yet to own houses, the Government will continue to implement the Program Perumahan Rakyat (PPR) by building 75,000 units of affordable houses nationwide under the 10th Malaysia Plan (10MP). In 2012, RM443 million has been allocated for the construction of 8,000 units for sale and 7,000 units to be rented.

* The Rumah Mesra Rakyat (RMR) programme, managed by Syarikat Perumahan Negara Bhd (SPNB), will be continued to help the low-income group to own decent houses. Under this programme, those with land but without a house or live in dilapidated houses are eligible for financing to build a house. SPNB will build 10,000 units in 2012. Each house costing RM65,000 will be sold for RM45,000 and the Government will subsidise RM20,000. For this, the Government will allocate RM200 million.

* Through the Abandoned Housing Rehabilitation Programme, the government successfully rehabilitated 82 projects involving more than 15,000 units. The government will continue this with an allocation of RM63 million in 2012 to rehabilitate 1,270 abandoned houses. The Government will also allocate RM40 million for restoration and maintenance of public and private low-cost housing.

* The number of expatriates in Malaysia has increased to 41,000. To provide a more conducive environment for expatriates to continue working in Malaysia, the Government will allow the withdrawal of their Employees Provident Fund (EPF) contributions for the purchase of a house.

KUALA LUMPUR: Property stocks have been among the hardest hit from the recent sell-off in equities, reflecting a waning optimism in the sector.

The KL Stock Exchange Property Index, which serves as a benchmark for the sector, fell to its lowest point since July 2010 last Friday. It closed at 833.8 points, a stunning week-on-week loss of 13%.

Property mammoths Mah Sing Bhd and S P Setia Bhd saw their stocks decline to more than a year's low last Friday, and shares of IJM Land Bhd fell to their lowest point since August 2009.

A possible early indication that the market veered from the sector, may have been the exit of private entrepreneurs.

Tan Sri Wan Azmi Wan Hamzah and Datuk Terry Tham Ka Hon were part of a group of investors in Eastern & Oriental Bhd (E&O) who parted with their stake in the company, representing a collective 30% that was acquired by Sime Darby Bhd.

Sime Darby paid RM2.30 per share for E&O, a 58% premium to its last transacted price before the deal was announced.

Shares in E&O have since lost nearly 8% which last closed at RM1.48.

Shares in Sime Darby dipped to an 11-month low last week, closing at RM7.70 last Monday after shedding RM1 during intraday trade. It has since recovered to end at RM8.10 last Friday, still a grim figure as the stock previously traded above a threshold of RM8.33 in the twelve months leading up to the acquisition.

Another company, Glomac Bhd, also saw its stock hit a 52-week low last Friday. It closed four sen lower at RM1.42, charting a year-to-date loss of 14.5%.

In a report last Friday, RHB Research said Glomac recently forecast RM500 million in property sales for its current financial year that was 40% below the previous estimate of RM900 million prior to the global equity market sell-down.

As at 1QFY12 ended July 31, it achieved RM100 million in sales with RM550 million in unbilled sales.

Glomac's last closing price of RM1.42 was above RHB's fair value of RM1.35, but well below the company's book value of RM2.13.

The company's CEO last week said the property sector had come under pressure from various external factors.

"There have been more measures required by the banks in terms of lower loan to value ratio (LVR) and other aspects, where they are now calculating the eligibility for loans based on net income instead of the gross domestic household income of potential purchasers. So coupled with these, the US high unemployment rate and the financial meltdown in Europe, there would definitely be a slight slowdown," said group managing director and CEO Datuk FD Iskandar Mansor.

Though the sale of 30% stake in E&O to Sime Darby and the discouraging performance of property stocks in the past week may have reflected market sentiment, they may not be the most telling signs.

"The E&O deal may have been in the making for a long period of time and while a lot of property stocks took a beating last week, the fundamentals remain the same — there is a growing concern that property prices are approaching their peak and that the market may be heading towards an oversupply," said an analyst.

Deputy Finance Minister Datuk Donald Lim Siang Chai said earlier this year that property prices may rise 10% to 20% in 2011 due to increasing inflation and a stronger demand for local properties from foreign buyers.

This followed an extended boom in local property prices that began in 2009, prior to which it experienced sluggish growth for a decade.

"As a result, the growth in the next few years may prove to be flattish," said one industry observer.

On the other hand, demand from local buyers may be constrained as consumers face tighter liquidity.

In the last annual report, Bank Negara Malaysia (BNM) said the country's household debt amounted to RM581 billion or 76% of its GDP as end-2010.

CIMB Research said household debt rose at an average annual rate of 11.1% between 2004 and 2009, when it climbed to 76% from 66.7% in 2004.

BNM claimed the latest household debt-to-GDP ratio was manageable, next to income growth, a high level of savings and favourable prospects for employment.

As mortgages and other forms of borrowings already pose a significant expenditure to households, the amount of new investments in properties may be limited.

There has also been a strong focus on attracting more foreign buyers into buying local properties, though the upside from this may be fairly limited considering the number of expatriates in Malaysia relative to countries such as Hong Kong or Singapore.

However, there may still be room for the supply of property to grow, according to Datuk Eddy Chen, group managing director of MKH Bhd and chairman of Real Estate and Housing Developers' Association (Rehda) Institute.

Chen recently said the market is capable of absorbing between 170,000 and 180,000 new units annually, though only 150,000 are being built currently.

Urbana of D'Alpinia Serdang will be having special preview on 16th-18th September 2011, 10am - 6pm at D'Alpinia Sales Gallery. Urbana consists of 64 units semi-detached 2 storey and 2 1/2 storey houses are the latest development by Hap Seng Land group.

Property Info

• Semi Detached (2 storey)
• Location D’ Alpinia, Puchong, Selangor
• Tenure of Land Leasehold
• Price RM 1,600,000
• Built-up 3,489 – 4,168 s.f.: Type A Built-up 3,489 sq.ft. Type B Built-up 4,168 sq.ft. Type C Built-up 4,168 sq.ft.

KUALA LUMPUR: SHL Consolidated Bhd plans to launch more residential units in its flagship development at Bandar Sungai Long in Kajang by the end of this year, finance director Jack Wong Tiek Fong told reporters after the company AGM yesterday.

The project, consisting of terraced houses and affordable homes, will span across 35 acres (14ha) in Sungai Long with a gross development value of RM180 million to RM200 million, according to Wong.

There will be 320 terraced houses with sizes ranging from 1,900 sq ft to 2,000 sq ft each, while the affordable homes comprise 130 units of 815 sq ft each in two five-storey blocks.

Wong expects take-up rates to be very good as SHL has received hundreds of registered potential buyers for the units.

SHL has about 550 acres of combined landbank in Cheras, Semenyih, Rawang, Batang Kali and Kuala Pilah, said Wong. The landbank will be used for future residential and industrial developments, he added, citing that it is sufficient to sustain the company for eight to nine years of development.
SHL has also been seeking strategic locations to acquire more land.

“Our first priority is to acquire land around our flagship projects in Bandar Sungai Long, Kajang and Alam Budiman in Shah Alam,” said Wong, adding that the Klang Valley is the priority but the company is also looking at Penang.

He did not disclose the specific locations as they are still under negotiations. However, Wong expects them to be completed within six months.[link]

Salt Water Lap Pool

Entrance

Sky Garden Terrace

• Address: KLCC, City Centre, Kuala Lumpur
• Property Type: Condominium
• Land Title: Residential
• Tenure: Freehold
• Built Up: 850 sq.ft.
• Total Units/Lots: 102
• Bumi Discount: 7%
• Expected Completion Date: Q4 2014

The 16 Sierra Township is taking shape real fast. The link to the SKVE interchange recently opened to traffic and this makes the 16 Sierra Township a little more attractive.

For those who are interested to invest or acquire a property for their own stay, IOI is introducing the Lyden Terrace Homes, starting from RM769,000 for a 2 storey leasehold property, just south of Puchong and easily accessible from the LDP and SKVE.