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Property Insight unveiled its inaugural ‘Malaysia’s Top 100 Property Developer Brand’ ranking

February 28th, 2020 No comments

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Malaysia’s best-selling property magazine, Property Insight has revealed its inaugural ‘Malaysia’s Top 100 Property Developer Brand’ ranking in collaboration with Acorn Marketing & Research Consultants (M) Sdn Bhd (Acorn Marketing).

Acorn Marketing is the leading market research company and the largest independent Asian Marketing research and consultancy group across the region with full-service offices in 11 Asian countries.

With over 30 years of market research experience in Asia, Acorn Marketing is undoubtedly the pioneer in providing high quality work supported by innovative technology from data collection to delivery of insights and presentation.

The synergy between Property Insight which is a bimonthly publication under Armani Media Sdn Bhd and Acorn Marketing is fruitful with the launch of the first-of-its-kind ranking that lists the top 100 local property developers.

This was based on the feedbacks received from a survey that was given to over 700 respondents who had no affiliation to any property developer brand involved in the ranking.

Managing Director of Property Insight, Dato’ KK Chua says, the ranking can be used as a benchmark for property purchasers to have confidence and peace of mind before they decide to purchase any property.

“In this competitive and challenging time, any developer that do not have a strong brand will struggle to keep things going.

“Hence, we believe in the importance of telling the brand story as it is the best way for the client to recall the brand and resonate it,” he says.

He adds on that the ranking can justify the brand value of the local property developers.

“Other than that, it will also help the purchasers to identify which companies have invested more on value creation and is willing to give extra value to them.

This ranking also helps to elevate the local property developer’s branding as they will be able to gain confidence and trust from the purchasers.

Through it, this initiative was made with the sole purpose of helping potential property buyers to make a sound investment decision,” he says.

Meanwhile, General Manager of Acorn Marketing, Michael Chong says this is the very first such move has even been undertaken in Malaysia.

“We believe that it will be a game changer in the Malaysian property industry. It will also set an example to the developers to excel further in their work.

“It is with great hope that this ranking will be able to lend a helping hand to future property buyers to make a better decision without worries,” says Michael.

The Malaysia’s TOP 100 Property Developer Brand encompasses four main pillars:

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UPCOMING: Prai / Urban Shine Development Sdn. Bhd.

February 26th, 2020 No comments

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A newly proposed small scale light industrial development by Urban Shine Development Sdn. Bhd. at Perai. It is located near Prai Industrial Estate, neighboring with many SME factories and manufacturing plants. Just a mere minutes drive from Penang bridge.

This development will offer 10 units of 2-storey semi-detached light industrial factories and 2 detached factories.

The project is still pending for approval. More details will be available upon official launch.

Property Name: (to be confirmed)
Location : Prai, Penang
Property Type : Light industrial factory
Total Units : 12
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer : Urban Shine Development Sdn. Bhd.

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

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The first phase of The Light City is scheduled for completion in 2024

February 24th, 2020 No comments

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IJM Land Bhd’s construction subsidiary, Jurutama Sdn Bhd, is set to develop the stalled RM4.5bil The Light City project, which is located next to the Penang Bridge.

According to IJM Perennial Development Sdn Bhd general manager Tan Hun Beng, the details of the contract for the project were now being finalised and the contract should be awarded in early April.

IJM Perennial is a joint-venture company between IJM Corp Bhd and Singapore-based Perennial Real Estate Holdings Ltd to oversee the project.

“The loan facility for over RM1bil was signed between OCBC Bank Bhd, RHB Bank Bhd, CIMB Bank Bhd and MALAYAN BANKING BHD last December, ” he told StarBiz recently.

Initially, IJM Land had planned to start work on The Light City in 2018, but given the property market slowdown, the plan had to be put on hold temporarily.

“We revised the plan so that the project could be launched in two phases, according to the pace of market demand.

“The new plan can now accommodate more food and beverage outlets and possibly, an experiential themed park in phase two, ” Tan said.

In the revised plan, the first phase will have a mall with a 680,000-sq-ft net lettable area, the Penang Waterfront Convention Centre, a four-star hotel with 500 rooms, offices and the Mezzo residential condominiums.

The second phase will have a 300,000-sq-ft mall, a five-star hotel with 250 rooms, offices and the Essence residential condominiums.

“The work on the first phase should create some 1,000 jobs for the local construction industry.

“The first phase is scheduled for completion in 2024, ” Tan said.

Tan said the commencement of the second phase would depend on the sales of the Mezzo condominiums and the occupancy of the mall.

“If the response to the condominium and the mall is good, we will start the second phase as soon as possible, ” said Tan.

“The retail mall and the hotel business would be well supported by the convention centre, which is expected to bring in the crowds.

“The demand for convention centre space is driven by the meeting, incentive, convention and exhibition market, which is booming in Penang.

“Our location is well-centralised around the airport, free industrial zone, George Town city and the mainland. This is also an added advantage, ” he added.

Earlier, Penang Master Builders and Building Materials Dealers Association adviser Datuk Lim Kai Seng said the The Light City project would generate about RM2bil worth of jobs for the local construction industry.

“About 40% of the RM4.5bil gross development value would need to be spent on construction works and another 10% for renovation works.

“The first phase alone should generate over RM1.3bil worth of construction jobs, ” Lim said.

IJM is one of Malaysia’s leading conglomerates with businesses in construction, property, plantations, industry and infrastructure. It has operations in 10 countries, with the primary focus on Malaysia, India, the United Arab Emirates, China and Indonesia.

Perennial is an integrated real estate and healthcare company headquartered and listed in Singapore.

As a real estate owner, developer and manager, Perennial focuses strategically on large-scale, mixed-use developments. It has operations in China, Singapore, Malaysia, Indonesia, Myanmar and Ghana with a combined portfolio spanning over 65 million sq ft.

Source: TheStar.com.my

 

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PLB Engineering to rehabilitate Jelutong dumpsite in exchange for 75% of the land

February 23rd, 2020 1 comment

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PLB Engineering has signed a conditional joint development agreement (JDA) with the Penang state government and its development arm to undertake rehabilitation works for the Jelutong dumpsite along Lebuhraya Tun Dr Lim Chong Eu in Penang in exchange for three-fourths of the rehabilitated land.

PLB said it will be undertaking rehabilitation works of the existing dumpsite — currently used for the disposal of various types of waste — on state land measuring approximately 84 acres, and additional area in excess of the existing area.

The group will be constructing and operating a new integrated recycling centre on the site to be acquired by PLB for the sorting and recovery of construction and demolition waste, green waste, and excavation waste, for reuse or recycling, according to an exchange filing today.

In carrying out the rehabilitation works, PLB may also procure the use of an area in the Phase 3 site of Pulau Burung sanitary landfill in Seberang Perai Selatan as an interim site for the storage and processing of such waste.

According to the filing, the JDA — signed between PLB, the state government and Penang Development Corp (PDC) — will allow PLB to undertake the project with PDC being the project manager to oversee the implementation of the project.

Under the JDA, PLB will pay project management fees and other costs to the Penang government, which will in turn be paid to PDC.

PLB will also deliver to the Penang state government a performance bond for an aggregate guaranteed sum being 5% of the estimated total cost of the rehabilitation works, with 50% in the form of a bank guarantee issued by a financial institution and 50% in the form of a corporate guarantee.

In turn, PLB will be entitled to 75% of the existing area and 70% of the additional area after rehabilitation, whereas the remaining 25% and 30% of the existing and additional areas, respectively, will go back to the Penang state government.

PLB plans to develop its entitled land into residential, commercial, and tourism developments with the state government’s approval.

“The project will enable PLB and its subsidiaries to undertake the rehabilitation works and in return, gain ownership of land for the development and construction of residential, commercial and tourism developments or projects within the proximity of Georgetown.

“Notwithstanding such proximity, the land is expected to be free from social and heritage restrictions for development and contribute positively to the group’s financial performance going forward,” said PLB.

PLB said it intends to fund the project by obtaining funding from the engineering, procurement and construction company that will serve as the main turnkey subcontractor for the project, or via external loan or bank borrowings, or a combination of both. The quantum is not currently determined.

The time for completion of the rehabilitation works is within five years from the unconditional date, while the construction works and operational commencement at the new integrated recycling centre is within three years from the JDA, with an extension of two years, if necessary.

The project is subject to shareholders’ approval at an extraordinary general meeting to be convened.

Source: EdgeProp.my

 

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UPCOMING: George Town / Continental Rise Sdn. Bhd.

February 22nd, 2020 1 comment

upcoming-by-continental-rise

A newly proposed small scale strata development by Continental Rise Sdn. Bhd. at George Town. Located on a 0.42-acre land along Jalan Makloon, between Taman Nusantara and Taman Soon Boon Kee flats. It is less than 3km away from KOMTAR, about 10 minutes drive to Penang Bridge.

This development will feature 8-units of 3-storey terrace houses within a gated community.

The project is still pending for approval. More details will be available upon official launch.

Property Name: (to be confirmed)
Location : George Town, Penang
Property Type : Strata residential development
Total Units : 8
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer : Continental Rise Sdn. Bhd.

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Location Map: