SPK unit plans quality homes in Shah Alam

Malaysia Property News by Bernard Yong on Jul 11, 2007

By THE STAR

SHAH ALAM: Sharikat Permodalan Kebangsaan Bhd's (SPK) property division, SPK Homes, aims to develop quality homes at its Cahaya SPK development.

SPK head of property division Steven Lim says the company also plans to use the surrounding lush tropical area to encourage greater outdoor activities.

When fully completed in 10 years, Cahaya SPK township, on 500 acres of leasehold, will have commercial properties, schools, shop-lots and a mix of residential properties.

Lim said the RM1.2bil low-density resort township was targeted at the mid to high-end market.

SPK head of property division Steven Lim showing a show unit of Superlink Homes at Cahaya SPK in Shah Alam

"Cahaya SPK is our signature development and has been meticulously planned with great care for minor details," he said after a media tour of the project site in Shah Alam yesterday.

Phase 1 of Cahaya SPK, to be launched on July 21 and scheduled to be completed by mid-2009, will comprise 142 units of Superlink Homes, priced from RM361,000 onwards.

"We expect to sell all the units (in phase 1) within six months," Lim said, adding that the gross development value (GDV) of Superlink Homes was RM63mil.

He said 84 semi-detached linked houses with GDV of about RM55mil and 80 bungalows would be launched next month.

SPK Homes also plans to develop high-rise properties, including apartments and condominiums, in Cahaya SPK in the future.

"With the launching of this 500-acre Cahaya SPK project, we will be a major player in property development," Lim said.

Currently, SPK Homes has a land-bank of 7,500 acres, of which 6,500 are in Sungai Petani. The rest are in Kuala Lumpur, Johor and Penang.

Lim also said the RM444mil joint-venture project secured recently in Abu Dhabi by construction arm SPK-Sentosa Corp Bhd had given SPK Homes an opportunity to expand overseas.

Putrajaya Perdana eyes higher real estate income

Malaysia Property News by Bernard Yong on Jul 11, 2007

By BUSINESS TIMES

BUILDER Putrajaya Perdana Bhd's (PPB) real estate income may constitute up to a tenth of revenue in fiscal 2008 as it develops more commercial properties and buys more land.

Its commercial units may be partially rented out, company officials say. Leasing out properties allows it to earn recurring income and shield itself from a cyclical construction sector.

"For next year, we are targeting up to 10 per cent. We are pretty strong in commercial development," PPB senior general manager Mak Hong Seng said at a media preview of its "D'Heron at the Lakes" bungalows in Putrajaya yesterday.

"We can adopt the build-lease-transfer mode for a client who wants a building, but does not have the financial resources," Mak added.

Real estate accounted for one per cent of main board-listed PPB's fiscal 2007 turnover, according to its filings to Bursa Malaysia.

Going forward, PPB, a 50.8 per cent subsidiary of real estate group Eastern and Oriental Bhd, also plans to acquire more land outside the Klang Valley. Mak did not specify the locations.

PPB's present landbank includes some 94ha across Putrajaya and Malacca.

Meanwhile, the developer aims to sell up to half of its RM54 million "D'Heron at the Lakes," bungalows upon its launch this September.

The ongoing project comprises 19 energy-efficient homes on a three-hectare freehold site in Putrajaya's Precinct 16.

The two-storey units, priced from RM2.9 million each, will have built-ups of between 423.6 sq m and 450.5 sq m.

PPB's financial year to March 2007 net profit rose 18 per cent to RM38.5 million, or 29.9 sen a share. Revenue grew 23 per cent to RM537.3 million.

Its current real estate jobs here include the "Danau Ayu Townvillas" and "Danau Point" commercial properties.

PPB's construction portfolio, meanwhile, includes the upcoming RM64.6 million Suruhanjaya Tenaga head-quarters in Putrajaya, and the RM186 million Malaysia Technical University's main campus in Malacca.

Shares of PPB closed unchanged at RM2.13, valuing the company at RM287.6 million yesterday. The stock's price had risen 22 per cent so far this year compared with the benchmark Kuala Lumpur Composite Index's 25 per cent gain.

Making sure developers behave

HEREIT IS: Johari, Assar Senari Group of Companies CEO Tuan Syeed Mohamad Hussien (second left), Daya Perumahan Sdn Bhd chairman Dr Abdul Rahman Junaidi (front row, third left), Assar Senari Group of Companies chairman Tan Sri Datuk Amar Bujang Mohd (fourth left), Wei (second right) showing a replica of the Sheda Code of Practice at the official launching. KUCHING: Housing developers will eventually have to sign up as members of Sarawak Housing and Real Estate Developers' Association (Sheda) to enable them to obtain their developers' licence from the Housing Ministry. Sheda president William Wei said making it a requisite for developers to sign up with Sheda would be the ultimate target of the association. "We are working closely with the Housing Ministry as we believe that in order to regulate effectively, those who wish to become developers have to be registered members of Sheda." Wei said Sheda and the monitoring department of the Ministry of Housing would work closely to ensure that the behaviour of the developers be closely monitored as the main aim was to protect the interest of house buyers. Commenting on the Sheda Code of Practice (CoP) officially launched by the Housing Minister Dato Sri Abang Johari Tun Openg yesterday, Wei said the association was going all out to educate its own members on what had been spelt out in the code. "The education process is ongoing. They have to understand clearly what are the four parts of the code," said Wei, adding that the working committee of' Sheda would also visit each division in the State to explain the contents and functions of the CoP. "For those who have not joined us, we will also invite them to join us so that this code can be enforced effectively," Wei told reporters after the signing of master agreement between Assar Chemicals Engineering Services Sdn Bhd and Sheda cum the launching of Sheda Code of Practice. Wei, however, did not state how long the educating process of the code would take; pointing out that this would be determined by the working committee. He also noted that most of the housing developers were happy with the implementation of the CoP. "Most of the developers are professionals like CEOs or general managers. Maybe less than 10 per cent are being run China-man style. Ninety per cent of our members are professional people. That's why they are happy this CoP is being implemented." Wei noted that once the CoP had been effectively implemented, the Housing Ministry would then be able to work together with Sheda to ensure that those intending to be housing developers must become Sheda members. Earlier in his speech, Wei disclosed that more than 75 per cent of the registered housing developers in the State were Sheda members. He noted that the CoP would keep Sheda members in check, and ensure that houses purchased by the people would be delivered on time, within budget and of acceptable quality. "The CoP will allow greater accountability on the part of the developers with regards to alleged breach of conduct. Developers who cannot meet the standards of the CoP, we have to release them from Sheda." He said the CoP was launched with the objective to enhance the ethical conduct of housing developers and promote the best practices in all stages of housing and real estate development in the State. "With the CoP, Sheda members have to ensure long-term impact on the lives of house buyers in the years to come," said Wei.

Source from: The Borneo Post, 2007-04-21 Author: Violet Tay