Property

Property

The MET Corporate Towers Redefine Corporate Spaces with Innovation 3rd Space Concept

KUALA LUMPUR: Developed by Triterra, The MET Corporate Towers (The MET) represents a groundbreaking addition to Malaysia’s commercial real estate. As the first Grade A Strata office office in KL Metropolis, The MET redefines corporate spaces with an innovative blend of functionality, lifestyle integration, and cutting-edge tenancy management. Positioned as “The New Business Class,” The MET introduces a future-focused approach to office environments, supporting SMEs—the backbone of Malaysia’s economy—while seamlessly merging productivity, lifestyle, and community. Prime Location in Mont’ Kiara Strategically located in the prestigious Mont’ Kiara enclave, The MET is perfectly positioned to serve as a hub for global and regional business activities. Its proximity to key economic landmarks such as the Malaysia International Trade and Exhibition Centre (MITEC), the Malaysia External Trade Development Corporation (MATRADE), and the Ministry of Investment, Trade, and Industry (MITI) offers unparalleled access to Malaysia’s economic nerve centers. Situated in a culturally diverse neighborhood with over 50 nationalities, The MET fosters innovation and collaboration among professionals worldwide. The 3rd Space Concept: Where Work Meets Lifestyle A defining feature of The MET is its innovative 3rd Space Concept, which integrates work, leisure, and lifestyle. Its culinary directory boasts renowned outlets such as %Arabica, Lacher Patisserie, Fiancée, Culinart, OR Gelato, Brotani, and SOL, a rooftop lounge on Level 40. The Malaysiana Food Garden transforms from a vibrant daytime food court into an event-ready venue by evening, providing tenants and visitors with a dynamic dining experience. Upcoming additions, including JHOL, Niko Neko, and Atlas Super Bar, will further enhance this offering. The MET also features premium amenities, including a state-of-the-art gym, a business theatre with a 70-seat auditorium, and versatile event spaces on Level 9 with stunning views. On Level 10, “The MET Club by Colony” provides a luxurious coworking hub designed for startups, solo entrepreneurs, and small teams. Thoughtfully crafted green landscapes and hospitality-inspired features further elevate work-life balance, making The MET a hub for dynamic, inspiring experiences. Flexibility and Tenant-Centric Solutions The MET offers flexible office layouts, from compact spaces ideal for startups to expansive, full-floor offices for larger corporations. Tower A provides a variety of options across its low, mid, and high floors, allowing tenants to scale their operations without relocating. The introduction of Strata-Tenancy-Management, pioneered by Trilink Real Estate, has transformed the landlord-tenant relationship. This system improves operational efficiency, reduces vacancies, and minimizes downtime through centralized management. Commitment to Connectivity and Community The MET will also launch Trek Rides, a Demand Responsive Transit (DRT) service designed to simplify commuting for tenants and visitors. This initiative reinforces Triterra’s commitment to accessibility and convenience. Beyond the tower, Triterra actively collaborates with local councils, community leaders, and stakeholders to enhance the surrounding environment—beautifying pavements, improving pedestrian safety, optimizing traffic flow, and organizing community events. A Magnet for Industry Leaders As the first Grade A strata office in KL Metropolis, The MET has already attracted leading tenants, including Siemens Healthineers, Siemens Malaysia, and CIDB, cementing its reputation as a premier choice for businesses seeking innovation, growth, and long-term success. A Vision for the Future of Workspaces “Our goal with The MET was to create more than just office spaces. We envisioned a community that empowers success, fosters innovation, and enhances daily experiences,” said Christopher Lim, CEO of Triterra. “The MET embodies our commitment to delivering excellence and innovation.” With its strategic location, forward-thinking design, and tenant-focused solutions, The MET Corporate Towers sets a new benchmark for modern workspaces. By blending functionality, elegance, and innovation, it reimagines what a corporate environment can achieve.

News, Property

Knight Frank: 2024 Office Redevelopment to Focus on Premium Spaces

SINGAPORE: Asia-Pacific’s office sector offers compelling opportunities for value-add investments, according to Knight Frank Asia-Pacific’s latest outlook report, Charting new horizons – 25 trends shaping 2025. The report features its 25 key significant developments across sectors trends.   The report showed that 45% of office transactions earmarked for redevelopment or renovation focused on upgrading and enhancing office specifications in 2024. The issue of building obsolescence gained prevalence over the past year, as Grade B and lower-tier buildings face increasing challenges in leasing due to a growing ‘flight-to-quality’ trend among corporate occupiers. This shift presents significant investment opportunities in the value-add segment, particularly in revitalising older stock by incorporating ESG (environment, social and governance) and wellness features. Christine Li, head of research, Asia-Pacific and report author, says, “The Asia-Pacific office sector is evolving into a two-tiered market, offering opportunities for value-add investors. This transformation is driven by the widening gap between outdated and premium office spaces, increasing focus on sustainability and ESG compliance, and mandatory stock market regulations. Consequently, we are witnessing a sustained demand for ESG-compliant office spaces.” Neil Brookes, global head of capital markets, Knight Frank, says, “Despite ongoing challenges, we expect a steady recovery in the region as pricing stabilises, bid-ask spread narrows, and confidence grows. Investors are increasingly diversifying their portfolios with alternative real estate investments alongside traditional assets. Diverse market conditions and economies in the region offer opportunities for different investment strategies, requiring investors to remain adaptable and responsive in their strategic approaches to capitalise on the most attractive opportunities.”   16% Rise in APAC office investment, first uptick in two years The office sector led investment volume across Asia-Pacific. Annual investment volume in office assets grew 16%, the fastest growing asset class, to reach US$59.5 billion in 2024 from US$51.2 billion in 2023. This growth accounted for 37% of all capital received in the region’s real estate market.   A major draw of office assets in Asia-Pacific is the high occupancy rate compared with western counterparts. Utilisation rate averages to 80% in the region, far higher than the 65% recorded in major US cities and 70% in the UK and Europe.   Data centres lead alternative real estate amid shifting investor landscape   Investor appetite for defensive sectors remains strong, with data centres leading alternative real estate investments, despite anticipated rate cuts. Data centres have consistently ranked first in niche property type prospects, showcasing remarkable growth. In 2024, data centre investments reached US$6.3 billion (excluding the AirTrunk takeover) a 2.5-fold increase from US$2.5 billion in 2023. This trend is driven by persistent pricing expectation gaps and narrowing yield spreads, pushing investors towards assets that can meet their return targets. Fred Fitzalan Howard, data centre lead, Knight Frank, says “Asia-Pacific offers significant investment opportunities in the data centre sector due to strong live supply growth and a persistent supply-demand imbalance. From 2018 to 2023, the region experienced a compound annual growth rate (CAGR) of 19% in live supply, as reported by DC Byte. Yet, the current supply remains insufficient to meet the demands of its vast population’s digital growth. Malaysia continues to lead as the top data centre hub in Knight Frank’s SEA-5 Data Centre Opportunity Index 2024, while emerging markets such as Chennai, Melbourne, and Bangkok show promising potential in this sector as Cloud Service Providers and AI companies diversify away from tier 1 data centre hubs.”   Emerging markets drive industrial asset growth amid global supply chain shifts The industrial sector in emerging markets experienced remarkable growth, with total capital received for industrial assets reaching a record-breaking US$3.0 billion in 2024, marking a 50% increase from the previous year. This growth significantly outpaced the rest of Asia-Pacific, which saw only an 8% increase during the same period. Vietnam emerged as a leading investment destination in the region, leveraging its strategic proximity to Chinese mainland and strong export growth. As Southeast Asia’s largest exporter, Vietnam’s exports grew rising from US$320 billion in 2019 to US$440 billion in 2023 at a CAGR of 8.2%, as noted by IHS Markit, driven by substantial foreign direct investment in manufacturing.   To download Knight Frank Asia-Pacific Charting new horizons – 25 trends shaping 2025, report, please visit https://hubs.ly/Q033Fw0_0.

News, Property

Arte Corp Partners with COBNB for Short-Term Stays at Arte Solaris, Mont Kiara

KUALA LUMPUR: Arte Corp Malaysia, a leading name in iconic property development, has announced a strategic partnership with COBNB Malaysia, a luxury short-term stay operator, to manage serviced apartments at its iconic Arte Solaris development in Mont Kiara. This collaboration comes as Malaysia experiences robust growth in its tourism sector. According to the Ministry of Tourism, Arts, and Culture Malaysia (MOTAC), the country welcomed over 15 million international visitors in 2023, contributing RM50 billion to the economy. With the government targeting 20 million international arrivals by 2025, initiatives under the National Tourism Policy 2020–2030 emphasize embracing smart tourism, promoting experiential travel, and positioning Malaysia as a premier destination for premium hospitality services.   A Fusion of Luxury Design and Hospitality Expertise This partnership promises to redefine luxury living and hospitality in Mont Kiara, merging Arte Corp’s architectural brilliance with COBNB’s hospitality expertise. Arte Solaris, celebrated for its modern design and opulence, will provide seamless short-term accommodation options for travelers, expatriates, and corporate clients alike. With Arte Solaris close proximity to MITEC, this also makes it a great choice for visitors to various events and exhibition attendees. Arte Corp’s latest project, Arte Solaris, is a palatial themed development which comprises of 433 units of Office Suites and 170 units of Serviced Apartments. The project’s Gross Development Value (GDV) is RM460 million and is slated for completion in Q4 2026. Nestled in the prime location of Solaris Mont Kiara, the development promises flexible unit layouts and a suite of premium amenities, setting a new standard of luxury living in the area. “We are thrilled to partner with COBNB Malaysia,” said Joan Goh, Head of Sales and Marketing of Arte Corp “Their exceptional track record in managing high-quality short-term stays perfectly aligns with our vision to craft unique lifestyle experiences at Arte Solaris. Together, we aim to deliver optimum return to our investors and create a truly differentiated development in the market.” COBNB Malaysia: Elevating Guest Experiences COBNB Malaysia has established itself as a leader in managing luxury properties with a focus on optimizing returns for property owners and ensuring exceptional guest experiences.  Glenn Wong, Co-Founder of COBNB Malaysia, expressed his enthusiasm for the collaboration: “Arte Solaris represents the pinnacle of luxury and innovation, and we are honored to bring our expertise to this landmark project. Today’s travelers seek experiences that inspire and Arte Solaris stands out with its breathtaking architecture, reminiscent of a modern-day Vatican City, surrounded by palatial art and intricate sculptures.” For more information about Arte Solaris and COBNB Malaysia, please visit https://www.artecorp.com.my/  and https://www.cobnb.com.my/ .

Investment & Market Trends, Property

Pavilion REIT Adds RM480M Iconic KL Hotels to Portfolio

KUALA LUMPUR: Pavilion Real Estate Investment Trust (Pavilion REIT) has announced the proposed acquisitions of two prestigious hospitality assets in Kuala Lumpur, the Banyan Tree Kuala Lumpur (BTKL) and Pavilion Hotel Kuala Lumpur (PHKL), in a landmark deal worth RM480 million. MTrustee Berhad, acting for and on behalf of Pavilion REIT, entered into conditional sale and purchase agreements with Lumayan Indah Sdn Bhd for the acquisition of BTKL at a purchase consideration of RM140 million, and with Harmoni Perkasa Sdn Bhd for the acquisition of PHKL at a purchase consideration of RM340 million.   Both properties are located in the bustling Bukit Bintang area, at the heart of Kuala Lumpur’s Golden Triangle.   Dato’ Philip Ho, Chief Executive Officer of Pavilion REIT Management Sdn Bhd, which is the manager of Pavilion REIT said, “The acquisitions align with Pavilion REIT’s strategy which contributes positively to the overall portfolio and future growth, while also generating stable and sustainable income for unitholders.”   “Acquiring these iconic hospitality assets reinforces our commitment to delivering premium offerings while capitalising on synergistic opportunities with Pavilion Kuala Lumpur Mall”, he added.   The acquisitions will be funded via a combination of debt and/or equity, with Pavilion REIT proposing a private placement of new units to raise gross proceeds between RM264 million and RM552 million. Alternatively, it may issue up to RM246.5 million worth of units to settle part of the purchase consideration.   The transaction is expected to enhance portfolio diversification by reducing Pavilion Kuala Lumpur Mall’s contribution to Pavilion REIT’s total asset value from 61.4% to 58.0% via exposure to the hospitality sector.   BTKL and PHKL are seamlessly connected to Pavilion Kuala Lumpur Mall, one of Malaysia’s premier shopping destinations. The integration enables synergistic marketing and operational strategies, which are anticipated to drive higher revenue per available room for the hotels and further elevate the overall value proposition of the mall. Pavilion REIT’s ownership further enhances this synergy, enabling strategic partnerships that will maximise the long-term value.   The hotels are operated and managed by Banyan Tree Hotels & Resorts Pte Ltd since their openings in 2018. Banyan Tree Hotels & Resorts Pte Ltd is part of Singapore-listed Banyan Tree Holdings Limited, a global hospitality group renowned for its luxury offerings and award-winning services.   BTKL, an award winning five-star hotel within a 59-storey integrated building, features 55 premium suites, a rooftop bar, and the renowned Banyan Tree Spa. PHKL, located above Pavilion Kuala Lumpur Mall, offers 325 well-appointed rooms and extensive event and dining facilities.   BTKL and PHKL have consistently achieved average occupancy rates of 83.0% and 82.2% respectively up to 30 September 2024.   As part of the deal, the hotels will be leased back to the current operator for an initial 10-year term, with the option to renew for up to 20 additional years. The fixed annual rental income will commence at RM33.5 million for the first five years, generating an approximate annual gross yield of 7.0%. This rental income will be subject to incremental adjustments every five years.   This structure provides Pavilion REIT with a yield-accretive, stable and predictable income stream while offering potential upside through variable rental arrangements tied to the hotels’ performance.   These acquisitions come at a time when Malaysia’s tourism and hospitality industry is rebounding strongly. International tourist arrivals in 2024 are projected to reach 27.3 million, a significant increase from 20.1 million in 2023.   Dato’ Philip Ho said, “Within Kuala Lumpur’s Golden Triangle lies what we consider the ‘golden mile,’ Jalan Bukit Bintang. The area’s proximity to world-class attractions, premier retail, and excellent connectivity ensures the hotels and Pavilion Kuala Lumpur Mall are well-positioned to benefit from Malaysia’s ongoing promotion of the tourism sector.”   The proposals are subject to approval by Pavilion REIT’s unitholders and Bursa Malaysia Securities Berhad.   Upon completion, the hotels will represent 5.5% of Pavilion REIT’s enlarged total assets under management, further solidifying its position as a dominant player in Malaysia’s real estate investment trust industry.

Energy & Technology, Property, The Executives

AI’s Transformative Impact on the Real Estate Industry

In an interview with The Exchange Asia, Christophe Vicic, Chief Growth Officer of JLL Malaysia, discusses how the integration of artificial intelligence (AI) is reshaping the real estate sector. AI is transforming traditional operations, creating innovative solutions, and opening new possibilities for investors, developers, and property managers. As AI technologies continue to evolve, Vicic highlights that their impact on real estate is becoming increasingly significant, particularly in Malaysia, where the market’s unique dynamics present significant opportunities for growth and innovation. Traditional AI vs. Generative AI in Real Estate AI applications in real estate can be categorised into two primary types: traditional AI and generative AI. Each offers distinct capabilities: Traditional AI: Specialises in structured data analysis and decision-making based on predefined rules. Common applications include market analysis, predictive maintenance, and risk assessments. Generative AI: Excels with unstructured data, offering creative solutions. It is used for property design, virtual tours, and bespoke marketing strategies. “Generative AI’s creative potential enables real estate firms to deliver tailored experiences and innovative designs, setting new standards in customer engagement and operational efficiency.” Current AI Applications in Real Estate AI is already revolutionising real estate through various cutting-edge applications: Property Valuation and Predictive Analytics: Data-driven tools provide accurate pricing and market forecasts. Tenant Engagement: AI-powered apps offer personalised recommendations for amenities and events. Smart Building Management: AI optimises energy consumption, automates maintenance, and enhances security systems. Automated Customer Service: Chatbots handle tenant queries and maintenance requests efficiently. “By automating repetitive tasks and enhancing analytical capabilities, AI enables property managers to focus on high-value activities, resulting in greater efficiency and improved tenant satisfaction.” AI’s Role in Malaysia’s Real Estate Decision-Making In Malaysia, AI’s transformative potential is particularly compelling. By harnessing big data analytics and machine learning, AI can: Identify emerging property hotspots and predict the impact of major infrastructure projects. Offer localised investment strategies, tailored to Malaysia’s unique market conditions. Simplify compliance with the country’s complex property regulations. “Developers can leverage AI to design smarter buildings and meet the rising demand for sustainable living, aligning with Malaysia’s growing focus on green developments.” Challenges and Opportunities While the benefits of AI are significant, widespread adoption faces several challenges: Data Privacy Concerns: Adherence to local and international regulations is vital. Algorithmic Bias and Transparency: The need for explainable AI ensures fairness in decision-making. Workforce Reskilling: Automation of routine tasks increases demand for AI expertise. “Overcoming these challenges requires collaboration between tech firms and real estate players, alongside investments in workforce upskilling and robust regulatory frameworks.” Emerging AI Trends in Real Estate Looking ahead, several AI advancements are poised to revolutionise the real estate sector: Natural Language Processing: Facilitating sophisticated chatbots and document analysis tools. Computer Vision and Augmented Reality: Transforming property inspections and visualisations. Edge AI and Quantum Computing: Enhancing smart building functionalities and market forecasting. AI-Driven Blockchain: Streamlining property transactions with improved security and efficiency. “AI trends such as edge computing and federated learning promise enhanced personalisation and privacy, paving the way for smarter cities and more responsive real estate ecosystems.” Competing in an AI-Driven Landscape For smaller firms, competing with AI-enabled giants is achievable by: Leveraging open-source tools and cloud-based solutions. Focusing on niche markets and adopting agile innovation strategies. Partnering with tech start-ups to access expertise cost-effectively. “Adaptability and customer focus are key differentiators, allowing smaller firms to implement AI solutions quickly and tailor them to specific client needs.” AI is not merely a tool; it is a transformative force redefining the real estate industry. As Malaysia and the global market continue to embrace these advancements, stakeholders must navigate challenges while seizing opportunities to drive efficiency, innovation, and sustainability in real estate practices.

Property

Radium Development Expands Urban Presence with Ampang Land Buy

KUALA LUMPUR: Radium Development Berhad (“Radium” or the “Company”) has reached a significant milestone with the acquisition of a 2.56-acre leasehold parcel in Bandar Ampang, Selangor. The acquisition was executed through its indirect wholly-owned subsidiary, Mayang Sepakat Sdn. Bhd. This marks Radium’s first project outside Kuala Lumpur, aligning with its expansion strategy to strengthen its presence in key Klang Valley locations and deliver well-connected, high-value properties. Key Highlights 1. Strategic Land Positioning Prime location near Kuala Lumpur City Centre. Direct accessibility via major highways and the Cempaka LRT Station. A transit-oriented development (TOD) opportunity appealing to urban residents and businesses. 2. Development Potential Planned mixed-use development with approximately 1,128 residential units, including 340 affordable Service Apartment Mampu Milik (SAMM) units. Commercial spaces to complement residential offerings. Estimated Gross Development Value (GDV): RM470 million. 3. Financial Strategy Acquisition cost: RM45 million, funded through a prudent mix of internal funds and bank financing. Reflects Radium’s financial stability and commitment to sustainable, growth-driven developments. Strategic Rationale The acquisition aligns with Radium’s vision of securing prime urban land in high-demand areas. Located within a TOD zone, just 350 meters from the Cempaka LRT Station, the site supports Radium’s focus on sustainable urban living and enhances its project pipeline catering to Klang Valley’s growing population. Leadership Perspective Group Managing Director Datuk Gary Gan Kah Siong shared his optimism about the project: “This acquisition is a cornerstone in Radium’s growth strategy. It positions us to meet the rising demand for accessible, high-quality urban spaces in Klang Valley while reinforcing our commitment to creating sustainable, long-term value for shareholders.” Outlook As Radium expands its land bank and project portfolio, this acquisition reflects its dedication to delivering exceptional urban living spaces. The project is set to meet market demand and sustainability goals while strengthening the Company’s leadership in the Klang Valley property market. For more information, visit www.radiumdevelopment.com.

Property

Savvy @ Riana Dutamas Nears Completions and Handovers

Savvy @ Riana Dutamas, a vibrant and thoughtfully designed development by IJM Land and FCW Holdings Berhad, has reached a significant milestone by completing its serviced residences ahead of schedule and delivering vacant possessions to homeowners. Situated in the burgeoning township of Segambut, which is just a stone’s throw away from Mont Kiara and Solaris, this freehold property marks a significant achievement in IJM Land’s portfolio, offering modern urban living and a potentially savvy investment opportunity. Savvy @ Riana Dutamas has a Gross Development Value (GDV) of RM590 million and sits on 5.06 acres of prime land. The development has also earned the prestigious GreenRE Bronze certification in recognition of its sustainable features, including an impressive QLASSIC rating of 85%, reflecting its high construction quality. Additionally, beautiful murals painted by local artists support the local art scene and add a vibrant, artistic flair to the communal spaces. The development features 921 elegantly designed serviced apartments, with units sold at starting prices from RM454,000. The residences are available in various layouts, ranging from 722 sqft (2-bedroom) cosy units to spacious 1,232 sqft (3-bedroom + studio dual-key) designs, catering to both young professionals and even multigenerational families. Each unit is allocated 2 to 3 car parks, ensuring residents that they have sufficient access to parking. “Savvy @ Riana Dutamas offers the perfect balance between city living and a home that’s like a peaceful retreat. Our vision was to create a development that speaks to the needs of both the young and the young at heart, whether they are looking for a dynamic lifestyle in the city or seeking a secure and smart investment option. With its strategic location in Segambut and an emphasis on community-driven and interactive spaces, Savvy offers the optimal urban lifestyle, providing residents with a serene sense of calm and peace of mind when they return home,” said Datuk Chai Kian Soon, Senior General Manager of IJM Land. Urban Tranquillity Savvy’s design blends city vibrancy with communal areas that encourage mindfulness and reflection. The interlocking design of Towers A and B, joined by a central bridge, fosters interaction among residents. In contrast, the lower-ground central park offers a lush green space for relaxation and connection. This innovative architectural design creates a harmonious coexistence of community living and privacy. Residents enjoy seamless connectivity to Solaris Dutamas, Mont’Kiara, and KL Metropolis, with major highways such as DUKE, SPRINT, and NKVE providing easy access to Kuala Lumpur. Public transport is equally convenient, with a dedicated walkway to Segambut KTM Station, making commuting easy and efficient. “We aimed to create a home that embodies a complete lifestyle. Savvy’s design encourages a strong sense of community while offering privacy and personal space. Its unmatched location puts everything within reach, while still providing a peaceful retreat from the city’s hustle and bustle,” added Datuk Chai. Stellaris @ Riana Dutamas: The Final Phase Building on the overwhelming success of Savvy, IJM Land is ready to ensure continuity and progress with the highly anticipated launch of Stellaris @ Riana Dutamas in December 2024. Designed around the concept of urban retreat living, Stellaris will offer 1,143 exclusive freehold serviced residences spread across 5.78 acres. With unit sizes ranging from 760 sqft to over 1,200 sqft, featuring 2-3 bedrooms and dual-key layouts, Stellaris provides versatile living options tailored to modern lifestyle needs, making it a true redefinition of upscale urban living. Additionally, what sets Stellaris apart is the retail component that will include 4 units of strata shops for added convenience, making daily life even more accessible for both itself and even Savvy. As a transit-oriented Development, it will also feature a covered walkway to the Segambut KTM Station and the GoKL shuttle to the nearest MRT station, providing excellent connectivity. Class Leading With a GDV of RM818 million, this final phase will offer a vibrant blend of convenience and modern design. The development features 31 thoughtfully curated lifestyle facilities, ranging from sleek co-working spaces designed for productivity to peaceful relaxation areas for unwinding after a long day. With modern features such as 24 EV bays and GreenRE initiatives, Stellaris enables residents to enjoy cutting-edge conveniences while contributing to a greener future with sustainability in mind. “Stellaris will deliver the best of both worlds, offering high-end living with a conscious focus on sustainability. Every detail has been thoughtfully designed to complement the vibrant pace of city life while providing a much-needed sanctuary to unwind when necessary. Whether you’re working, relaxing, or enjoying all the city has to offer, Stellaris ensures a living experience that stylishly balances comfort and convenience,” said Datuk Chai. Stellaris will feature a sleek, contemporary design that integrates modern architecture with the surrounding natural landscapes. Its hallmark is IJM’s thoughtful unit layouts, along with the inclusion of strata shops and covered walkways to Segambut KTM Station, ensuring that both Savvy and Stellaris will eventually become coveted standout developments in the area. For more information about Savvy @ Riana Dutamas and the upcoming Stellaris @ Riana Dutamas, visit https://rianadutamas.com/.

Property

Sime Darby Property Shines with Success at Elmina City Centre Launches

ARA DAMANSARA: Sime Darby Property Berhad continues to attract homebuyers and investors, highlighted by the success of its recent launches at Elmina City Centre. JUMPA @ Elmina Valley, a premium commercial development just 500 meters from the City Centre, achieved a 100% take-up rate within a day. Meanwhile, Kanopi, the first phase of serviced apartments in the 350-acre Elmina City Centre, recorded a 70% take-up upon launch. These milestones underscore the growing demand for well-located, high-quality developments in the award-winning City of Elmina, positioning it as a dynamic, connected, and sustainable urban hub. JUMPA offers 44 freehold units of two and three-storey shop offices, with sizes ranging from 3,360 sq. ft. to 5,019 sq. ft., starting at RM1.93 million. Sime Darby Property’s COO of Township Development, Appollo Leong, shared, “The overwhelming response to JUMPA reflects the increasing need for accessible, well-designed business spaces. We’re committed to growing Elmina City Centre into a vibrant community hub that supports businesses and meets the needs of its rapidly growing population.” Kanopi, with a Gross Development Value (GDV) of RM299 million, spans 3.58 acres and features 499 units, including affordable housing starting at RM270,000. With over 35 lifestyle facilities and prime access to amenities like the Elmina Lakeside Mall and Central Park, Kanopi redefines urban living. Its location near major highways and a future MRT hub makes it a prime choice for first-time homeowners and investors. The City of Elmina’s master plan, celebrated for its sustainability and community living, continues to thrive with developments like JUMPA and Kanopi. Recognized for excellence, the township recently earned accolades at the Malaysia Landscape Architecture Awards and the Malaysia Urban Planning Awards. To learn more about Elmina City Centre properties, visit www.simedarbyproperty.com.

Property

Gen Starz Residences: Heritage & Modernity on Old Klang Road

Old Klang Road is one of Kuala Lumpur’s most vibrant and historic thoroughfares. It has long been a dynamic hub of energy, where the established rich texture of the community is infused with a new zeal for life. This evolution ensures continuity in culture, commerce, and convenience, enhancing the area’s livability and marking the introduction of Gen Starz Residences as a significant addition to Old Klang Road’s vibrant community. The enduring vibrancy of the neighbourhood makes it the perfect bustling backdrop for Majestic Gen to introduce Gen Starz Residences, the newest addition to reinvigorate urban living on Old Klang Road, in the heart of Klang Valley. This innovative development will redefine modern living while honouring the neighbourhood’s rich legacy. Occupying a niche pocket in the dynamic Old Klang Road corridor, Gen Starz Residences is a freehold, low-density development offering 360 handsomely designed serviced apartments. With a gross development value (GDV) of RM 272 million, this project serves as the headlining feather in the cap of Majestic Gen’s burgeoning portfolio and a significant milestone that is strategised to cater for the growing demand for an infusion of sophisticated urban living propositions that assimilates well into existing mature neighbourhoods. Gen Starz Residences draws inspiration from the close-knit community of Old Klang Road. The overarching design captures the spirit of the people and the character of the neighbourhood, blending contemporary living with the nostalgic charm of this beloved area. Building upon this rich local heritage, the Chroma-Vista theme celebrates a vibrant and enriching lifestyle, merging bold colours with stunning vistas to create a holistic development that radiates energy and warmth from every corner. “Gen Starz Residences reflects our vision of creating spaces where every resident is allowed to thrive and shine on their own accord, ” said Dato’ Hoo Kim See, CEO of Majestic Gen. “The shining ‘Star’ represents a recurring starring role in a great locale with a supporting cast of a lively, modern lifestyle that is in line with our tagline of ‘Sparkles every Hour’ that enhances the appeal of a home with a cohesive charm, no matter the time of day.” This is evident in the building, which is intentionally composed of linear and yet free-flowing forms that mirror the diverse connections made in the greater community, symbolising the journey of individuals coming together to foster meaningful relationships. The residence is designed to cater towards a youthful and creative congregation, promoting new entrepreneurial ventures, holistic education for the new generation, and cultural exchange, all within a space that seamlessly integrates urban convenience with diverse requirements and needs. MEASURED FIT At Gen Starz Residences, flexibility and modularity meet modern living with three thoughtfully designed layout options, each crafted to fit diverse lifestyles and increasingly preferred work-from-home preferences. For instance, Type A, with its compact 650 sq ft layout, features two rooms and one bath, making it an ideal choice for young professionals (or couples) seeking a stylish yet efficient space. For those who desire a bit more room, Type B offers a generous 756 sq ft space, complete with two rooms and two baths, providing extra comfort and much-needed privacy. For families and individuals who value spacious living, Type C is the perfect solution. Its large 874 sq ft layout includes three rooms and two cosy baths, offering more than ample space for growth and activities. “What sets Gen Starz Residences apart from other residences is our innovative use of flexible walls,” added Hoo. “These manoeuvrable walls allow residents to customise and transform their living spaces as their familial needs evolve. Whether you wish to modify the layout temporarily for an open-concept space for gatherings or create more permanent private areas with partitions, our adaptable walls allow you to shape your home exactly as you envisioned it, without too much hassle, thus reflecting and reinventing your own unique lifestyle as you wish.” NATURAL DESIGN It is with great pride that Gen Starz Residences has attained a Provisional GreenRE rating in the residential category, solidifying Majestic Gen’s commitment to eco-friendly, sustainable living solutions and applications. A key feature is its commitment to renewable energy, with 30% of the roof space dedicated to photovoltaic solar panels. Additionally, energy-efficient air conditioning, fans, and roof insulation have been carefully selected to meet strict energy-saving requirements. This approach, combined with enhanced ventilation, ensures optimal air quality in both individual units and common areas, including wet spaces frequently used by residents. A strong indicator of its green focus, Gen Starz Residences offers residents abundant natural light and expansive green spaces. Open lawns and the tranquil Little Forest provide a serene living environment for everyone to enjoy. Coupled with energy-efficient lifts and water-saving fixtures, such as flushing cisterns, these features further enhance the development’s sustainability focus. The use of green construction materials and responsible waste management underscores Majestic Gen’s dedication to reducing environmental impact while ensuring deliverables are met, and that residents can move into their units on schedule. The Modern Contemporary landscape concept at Gen Starz Residences focuses on creating open and functional spaces with clean lines and minimalist designs, resulting in a spacious and uncluttered environment. Elegant water features and sculptural elements enhance the visual appeal of this serene oasis, complementing the overall modern aesthetic while incorporating natural materials and contrasting colours. This thoughtful approach extends to the planned greenery, which is manicured to be symmetrical yet distinctive, further accentuating the landscape and providing a sense of proportion and balance. The result is an outdoor space that is both elegant and inviting, offering residents a harmonious retreat amidst the urban environment. EVERYDAY EXTRAORDINARY Gen Starz Residences boasts an impressive array of amenities across three levels that are meant to elevate the living experience to new heights. The podium deck offers a panoramic 360° Outdoor Gym, where residents can enjoy a workout with stunning city views at their beck and call, before they take a dip in the Infinity Swimming Pool for a healthy dose of recuperation and relaxation. For social gatherings, the Multipurpose Hall and

Investment & Market Trends, Property

Malaysia’s Property Sector Set for Growth in 2025

According to a recent report by UOB Kay Hian, Malaysia’s property sector is showing strong momentum as it heads into the final quarter of 2024, with significant year-over-year growth expected across many major developers. UOB Kay Hian has maintained an OVERWEIGHT rating on the sector, signaling its optimism about long-term opportunities. The report highlights developers like Mah Sing and Eco World as standout performers, especially as they strategically expand into data center projects and industrial property segments. Below are key insights and projections from UOB Kay Hian’s latest analysis. Strong Year-over-Year Growth Expected in 3Q24 UOB Kay Hian projects substantial YoY growth for the third quarter of 2024 across many developers within its coverage. Companies such as Mah Sing are expected to report 20-30% YoY growth, attributed to increased sales volumes and progressive billings from ongoing projects. This growth trajectory follows significant land sales and a series of well-received project launches earlier in the year, marking a positive trend for property developers as they wrap up 2024.  Sales and Project Launches Fuel Sector Expansion Developers are on track to meet their 2024 sales targets, having achieved around 50% of their goals by mid-year. UOB Kay Hian’s analysis suggests that 3Q24 sales figures will reflect strong performance, with major launches by developers contributing to robust demand. Notably, Mah Sing introduced five new M-series projects in August, and other key launches have met with similar market enthusiasm. These project launches indicate a sustained appetite for residential and mixed-use developments across Malaysia’s key markets. OVERWEIGHT Rating and Positive Long-Term Outlook UOB Kay Hian has reaffirmed its OVERWEIGHT stance on Malaysia’s property sector, reflecting confidence in a sustained uptrend that is expected to continue into 2025. The sector is benefiting from several supportive factors, including record-high levels of investment in Malaysia over recent years, rising land values, and growing demand for industrial properties. The report identifies several drivers behind this long-term growth outlook. Industrial developments are expanding, creating opportunities for developers to diversify beyond residential real estate. Additionally, rising land values are being buoyed by demand for data centers, the establishment of special economic zones, and major infrastructure projects that enhance Malaysia’s investment landscape. This combination of factors is creating a favorable environment for developers with diversified portfolios, particularly those with exposure to industrial and data center properties. Revenue and Earnings Growth Projections for 2025 Looking ahead to 2025, UOB Kay Hian expects Malaysia’s property sector to sustain double-digit revenue growth, projecting an increase of 11%, driven by continued sales growth and further billings from ongoing projects. The firm’s projections also include strong sector earnings growth, outpacing revenue increases due to high-margin land sales and a shift toward industrial property. Mah Sing, in particular, is expected to make a significant contribution to sector earnings, with a projected addition of at least RM120 million, largely from data center land sales. This focus on data center projects is enabling developers to tap into the growing digital infrastructure market, which has been driven by increased demand for data storage and processing capabilities. Policy Implications and Market Sentiment While the sector’s prospects remain largely positive, UOB Kay Hian points out that recent policy changes and economic conditions will shape market sentiment in the near term. The 2025 budget lacked significant new initiatives for homebuyers, with measures like the Home Ownership Campaign (HOC) and Madani Deposit Scheme notably absent. The budget did offer limited tax relief for first-time homebuyers, but this relief falls short of previous campaigns in terms of scale and potential impact. Despite these policy limitations, the industrial property segment is gaining momentum. Major corporations like Kuala Lumpur Kepong (KLK) and Sime Darby Plantation are shifting their focus to industrial property, in some cases repurposing agricultural land for industrial development. Increased foreign direct investment is also strengthening the industrial property segment, particularly as Malaysia enhances its appeal as a hub for green industrial projects in the ASEAN region. A Promising Outlook for 2025 UOB Kay Hian’s outlook on Malaysia’s property sector remains optimistic as developers are positioned to capitalize on both residential and industrial demand. The sector’s evolution reflects broader economic trends, including the rising importance of digital infrastructure, international investment, and the strategic growth of industrial zones. Developers with significant land reserves and diversified portfolios, such as Mah Sing and Eco World, are expected to continue performing strongly as Malaysia’s property sector transitions to a more balanced, growth-oriented landscape. This positive outlook is further supported by strategic urban planning initiatives and ongoing discussions about infrastructure projects like the Johor Autonomous Rapid Transit and potential incentives for the Johor-Singapore Special Economic Zone, which are expected to enhance the sector’s growth prospects. With these drivers in place, Malaysia’s property sector appears poised for continued growth and transformation well into 2025.

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