Upgrading Lifestyles at Eco Sanctuary

Eco Sanctuary
The Grandezza viewing deck offers a stunning view of the project. (Photos by Eco World Development Group)

Since it first emerged in the mid-to-late 1990s in Shah Alam, Selangor, Kota Kemuning has flourished into a self-contained township with a population of more than 100,000 and growing.

The ebb and flow of real estate hot spots in recent years have shifted the focus to the southern region of the Klang Valley but Kota Kemuning and its surrounding vicinity in the south western corridor is fast gaining traction as the next suburban hot spot.

Although the original township master plan of Kota Kemuning has reached the tail-end of its development, it is now set to welcome a new wave of growth. A few prominent developers have already set their sights on transforming the south of Kota Kemuning into a major growth corridor in the region.

While Kota Kemuning itself spans about 1,800 acres, the south of Kota Kemuning covers more than 3,000 acres made up of secondary forests in addition to rubber and palm oil estates. In the pipeline, however, are upcoming gated-and-guarded township developments by top property developers in the country including Eco Sanctuary by Eco World Development Group Bhd (EcoWorld).

Eco Sanctuary
The grand entrance statement is an EcoWorld signature feature.

There is no doubt that the presence of key developers and their collaborative efforts in the area are helping to spur the growth of the region and build momentum towards capturing a market for their new township developments here. The total of each of the separate township developments in the south of Kota Kemuning is expected to produce more than 24,000 residential units to attract a population of up to 130,000 in the next 10 years.

Within easy reach from Kuala Lumpur city centre, Kota Kemuning is currently served by a network of major expressways and arterial roads which lead to neighbouring townships and various spots within the Klang Valley. It is accessible via the Shah Alam Expressway (KESAS), Kemuning-Shah Alam Highway (LKSA), South Klang Valley Expressway and North South Expressway Central Link (ELITE), which easily connect to Shah Alam, Subang Jaya, USJ, Petaling Jaya, Puchong, Cyberjaya and Putrajaya.

Connectivity to the new developments in the south of Kota Kemuning has been improved with the introduction of a main trunk road leading directly to KESAS and LKSA. Accessibility will be further enhanced with the completion of a connection to the ELITE link this year and the West Coast Expressway in 2018/19. With these in place, residents in the south of Kota Kemuning will have the benefit of living in close proximity to a myriad of facilities and amenities, including commercial areas, banks, medical facilities, education institutions, the Bukit Kemuning Golf & Country Resort and the Kota Permai Golf & Country Club.

Eco Sanctuary
The modern clubhouse at Grandezza.

Taking living to the next level

When Kota Kemuning was first established, its population mainly consisted of Generation X and baby boomers, particularly young couples who were planning to start a family or with growing children. Today, this demographic has evolved into an affluent, well-educated and mature market who are mostly in their 40s, 50s or 60s.

“Based on our purchasers’ profile, we see an upgrader market looking for lifestyle offerings like gated-and-guarded developments with enhanced security features, clubhouse with full-fledged facilities and green spaces which they can conveniently access,” reveals Ho Kwee Hong, Divisional General Manager of Eco Sanctuary.

Eco Sanctuary

Recognising the needs of an upgrader market, developer EcoWorld started the development on Eco Sanctuary, a 308.7-acre leasehold project with a gross development value (GDV) of RM8 billion.

Eco Sanctuary is a gated-and-guarded eco-themed haven which emphasises green spaces and a healthy lifestyle. It features seven precincts and a commercial hub offering a curated line-up of residential and commercial properties including landed homes, mid to high-rise residences, shopoffices, a strip mall and an abundance of green spaces.

A dedicated clubhouse is available in each gated-and-guarded precinct within Eco Sanctuary boasting modern architecture, swimming pool, timber deck and a glass-walled gym.

Eco Sanctuary
An artist’s impression of Grandezza super bungalow Altimo 80’ x 125’.

Delivering unique features that have unmistakably become hallmarks of EcoWorld township projects, the luxury enclave of Eco Sanctuary is teeming with lush landscapes and stunning views at every turn. Among them are the signature towers at the main entrance, the tree-lined roads with bicycle and pedestrian paths, the majestic gazebos and the back-lane gardens over an undulating terrain.

To create a tranquil and nature-infused ambiance, Eco Sanctuary is designed to retain much of the verdant splendour of its natural environment, including a central lake and the transplantation of 700 maturing trees comprising 50 species to all boulevards and main roads within the development, with the help of the Forest Research Institute of Malaysia. Green spaces make up for more than 30% of the entire development.

In terms of accessibility, Eco Sanctuary brings seamless connectivity to its residents with a direct connection to the ELITE expressway, putting residents just a 25-minute drive to the Kuala Lumpur International Airport as well as convenient access to Putra Heights, Subang Jaya and Puchong. By 2019, Eco Sanctuary will also become the designated exit point of the West Coast Expressway, which connects Taiping, Perak to Banting, Selangor.

Eco Sanctuary
An artist’s impression of Grandezza bungalow Rico 60’ x 100’.

The best of eco luxury

Built upon the seamless integration between landscaping, architecture and luxury resort living with a green approach, Eco Sanctuary presents itself as a modern-day sanctuary. This notion is best represented by Grandezza, the jewel of Eco Sanctuary, which features an eco-themed master plan with emphasis on privacy and an enhanced green living experience.

Grandezza’s collection of luxury homes comprises semi-detached homes, zero-lot bungalows, bungalows and super bungalows with built-ups ranging from 2,903 sq ft to 6,075 sq ft. Each home features modern tropical architecture with Cubism influences and comes with a deep cantilevered balcony and a linear garden spanning 30ft to 100ft along the back of the homes. The spacious homes feature open-plan layouts that seamlessly merge the indoor and outdoor, while features such as double-volume ceilings welcome natural light and ventilation into the interior spaces.

Each home is equipped with a 3R (Reduce, Reuse, Recycle) nook that offers residents the convenience of incorporating 3R practices into their daily lives. Additionally, the super bungalows come with a sentry post and a driver’s room to cater to the needs of the residents.

At the heart of Grandezza is a 22,000 sq ft clubhouse, designed to emulate a luxury resort which mirrors the modern Cubism-inspired architecture of the Grandezza homes. Built on an elevated landform to offer sweeping vistas of the landscape, the clubhouse comes with a 30m swimming pool with a Jacuzzi and timber deck as well as an elevated gym.

Launched end of 2016 and slated to be ready in September 2019, Grandezza is the final landed gated-and-guarded precinct in Eco Sanctuary with the lowest density in the township. It consists of only 260 units (of which 160 units are semi-detached homes) across 68 acres with a GDV of RM700 million.

Eco Sanctuary
Eco Sanctuary Care Hub.

Planning for tomorrow

Upgrading lifestyles does not only constitute expanding living spaces. “Downsizing is also a form of upgrading, especially for empty nesters. At the same time, smaller homes with comprehensive facilities also appeal to single professionals, couples and young families, explains Ho.

Considering current trends where families love to travel and children are more independent and prefer living on their own, The Parque Residences at Eco Sanctuary may just be what they are looking for. The low-density luxury condominium development is designed with a resort-like environment and supported by expansive greenery. Available are a variety of layouts that range from 516 sq ft to 1,388 sq ft, including double-volume living spaces and dual-key units, and which are complemented with deep balconies and ample windows for natural lighting and ventilation.

The Parque Residences boasts 42,000 sq ft of innovative facilities, including a private clubhouse, swimming pool, 360-degree garden, herb garden, forest park, fruit orchard, entertainment room, multipurpose hall complete with gourmet kitchen and terrace, multipurpose sports court, spa, steam room, café, as well as an indoor and outdoor gym, among others.

A highlight of the facilities within The Parque Residences is the Eco Sanctuary Care Hub, making it the first residential development in Malaysia to provide onsite care and wellness services to its residents. Eco Sanctuary Care Hub is a collaboration with Managedcare (a wholly-owned subsidiary of Aged Care Group Sdn Bhd) to provide the convenience of accessing care administration and wellness services, such as a 24/7 nurse-on-call service and a care manager to attend to any care service request. “Wellness has become increasingly important in today’s fast paced lifestyle. With the establishment of the Eco Sanctuary Care Hub, we hope to make living in Eco Sanctuary a more wholesome experience,” says Ho.

The Parque Residences with a GDV of RM379 million comprises two phases; the first phase was launched in 2016 with 594 units across three 20-storey and 25-storey blocks. It spans a total of 27 acres, of which 12 acres are dedicated to green spaces. The second phase will be launched in 2018 with 494 units.

Eco Sanctuary
The Parque Residences clubhouse.

Spurring commercial growth

Providing an extension of the commercial activities in Kota Kemuning is Eco Sanctuary City. The 62-acre project is poised to meet the various lifestyle needs with a plethora of facilities, including lifestyle shopoffices, a strip mall, office tower, convention centre, service apartments and hotel, wellness centre, education hub and more. 

Among the first developments to be unveiled within Eco Sanctuary City is the first phase of Eco Somerset lifestyle shopoffices, which consists of 88 two-storey and three-storey units with built-up sizes between 3,000 sq ft and 6,000 sq ft. Eco Somerset offers a premier retail and business address in the heart of Eco Sanctuary City. Another Care Hub centre will be established in the commercial precinct of Eco Sanctuary City upon its completion in 2018.

“The commercial sector in Kota Kemuning has been developing aggressively for the past 10 years, but we have identified a gap to cater to the niche market of Eco Sanctuary,” says Ho. To ensure the sustainable growth of commercial activities that fulfil the needs of its future residents, EcoWorld is offering complimentary commercial “match-making” services to help investors find the right tenants to occupy the commercial units.

The entire development of Eco Sanctuary is estimated to take eight years with a completion date in 2022 thus bringing into fruition the transformation of the south of Kota Kemuning into a perfect living environment.

This story first appeared in TheEdgeProperty.com pullout on Feb 24, 2017. Download TheEdgeProperty.com pullout here for free.

from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1079320/upgrading-lifestyles-eco-sanctuary

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Mitrajaya’s 4Q profit jumps 77%; buys more land via new JV

KUALA LUMPUR (Feb 27): Mitrajaya Holdings Bhd, which announced a 77% jump in its final quarter of financial year 2016’s earnings, has partnered up with private developer Gema Padu Sdn Bhd to jointly develop three plots of land that the pair is buying from the latter’s subsidiaries.

Two of the plots are situated in Dengkil, with one in Nilai on which a mixed development named Emville is in construction. The joint-venture partners are to pay RM181.2 million for the plots.

Mitrajaya will be responsible for 60% of the purchase price, which it will pay by cash (37%), construction cost of infrastructure works in Emville (35%) and a further 28% by cash on condition Gema Padu agrees to buy completed units or units under construction from the Mitrajaya Group.

Mitrajaya said the properties to be jointly developed are strategically located in the prime location of Kuala Lumpur’s southern corridor development, where demand for residential and commercial development is expected to remain positive and encouraging.

The lands in Dengkil are one each for commercial land and industrial use. With the exception of one Dengkil plot measuring 21.55 acres being a freehold land, the second Dengkil plot measuring 20.15 acres and Emville’s 291.7 acres are both leasehold lands.

Mitrajaya said it will fund the purchase with internal funds, adding that no liabilities will be assumed by Mitrajaya from the proposed JV.

Separately, Mitrajaya said its net profit for the fourth quarter ended Dec 31, 2016 (4QFY2016) came in at RM42.8 million versus RM24.3 million in the corresponding quarter a year ago, on higher contributions from construction and property development.

Revenue gained 10% to RM271.7 million from RM247 million a year ago, its bourse filing showed. Its directors recommended a first and final dividend of 5 sen per share in respect of FY2016.

For the full FY2016, the group’s net profit grew 36% to RM117.8 million from RM86.6 million in FY2015, while revenue climbed 12% to RM964.1 million from RM861.7 million.

Going forward, Mitrajaya said its construction division will continue to drive the revenue and profit for the group in 2017 on the back of its outstanding order book of RM1.53 billion.

“The total new contracts secured in financial year ended Dec 31, 2016 was approximately RM1 billion. This division has been participating actively in various projects tender to replenish existing order book,” it said.

It added that the property development division is expected to have higher contribution to the group in 2017 as the construction work progresses well for the existing ongoing project, Wangsa 9 Residency.

“The unbilled sales for this project currently stands at RM160.81 million. This division is currently looking at launching affordable homes project in Puchong Prima and a residential project in Bukit Beruntung,” it said.

However, it cautioned that its South Africa investment is expected to have lower contribution in FY2017, as its remaining unsold stands are bigger plot with higher selling price.

As of closing, Mitrajaya was unchanged at RM1.25 with 788,600 shares traded, giving it a market capitalisation of RM836.5 million. — theedgemarkets.com

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from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1079257/mitrajayas-4q-profit-jumps-77-buys-more-land-new-jv

Jaks drops 18% on 4Q net loss, proposes new shares placement

KUALA LUMPUR (Feb 28): Jaks Resources Bhd dropped as much as 22 sen or 18% after the builder and water-pipe manufacturer reported a fourth quarter (4QFY2016) net loss at RM24.03 million, against a net profit of RM29.22 million a year earlier. 

Jaks’ proposed private placement of up to 43.84 million new shares or about 10% of its existing issued share base could have also led to the stock’s decline. This is in anticipation of earnings per share (EPS) dilution due to a larger share base. 

Jaks shares fell to their lowest so far today at RM1.01. At 11:06am, the stock cut losses at RM1.06, with some 26 million shares traded. 

The fourth most active stock on Bursa Malaysia was also the 10th-largest decliner.

Affin Hwang Investment Bank Bhd wrote in a note today that the research firm maintained its “buy” call for Jaks shares, but with a lower target price (TP) at RM1.70 versus RM2 previously.

“We are still maintaining our BUY call on the stock, with a lowered TP of RM1.70, despite lowering our EPS by 22% and 8% for FY2017 and 2018E, to account for the changes recognition of EPC (engineering, procurement and construction) contract and also the dilution on the impending 10% new share placement,” Affin Hwang said. — theedgemarkets.com

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from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1079243/jaks-drops-18-4q-net-loss-proposes-new-shares-placement

Kimlun’s 4Q net profit up 13%, plans 6.5 sen dividend

KUALA LUMPUR (Feb 28): Higher profit contribution from the manufacturing, construction and trading divisions lifted Kimlun Corp Bhd’s net profit by 13% to RM24.2 million or 7.8 sen per share in the fourth quarter ended Dec 31, 2016 (4QFY2016) compared with RM21.4 million a year ago.

Revenue grew marginally by 1.5% to RM235.3 million from RM231.9 million in 4QFY2015, it said in a bourse filing today.

The board proposed a final single-tier 6.5 sen dividend for the financial year ended Dec 31, 2016 (FY2016) and has determined the dividend repayment plan will apply to the final dividend, subject to approvals.

For the full financial year ended Dec 31, 2016 (FY2016), net profit grew 15.9% to RM81.9 million or 26.77 sen per share from RM70.7 million or 23.52 sen per share while revenue dropped 10.7% to RM940.7 million from RM1.05 billion in FY2015.

Kimlun has an estimated construction and manufacturing balance order book of approximately RM1.67 billion and RM260 million respectively as at Dec 31, 2016. “The balance order book provides a good earnings visibility to the group. The board is optimistic that the Malaysian and Singaporean construction sectors would continue to be vibrant in 2017, thus offering orderbook replenishment prospects,” it said.

Kimlun’s share price closed unchanged yesterday at RM2.16 for a market capitalisation of RM670.2 million. — theedgemarkets.com

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from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1079224/kimluns-4q-net-profit-13-plans-65-sen-dividend

MRCB rises 2.10% on solid 4Q earnings

KUALA LUMPUR (Feb 28): Malaysian Resources Corp Bhd (MRCB) rose 2.10% in early trade today after its net profit for the fourth quarter ended Dec 31, 2016 (4QFY2016) jumped 7 times to RM188.1 million from RM26.8 million in the corresponding quarter a year ago, mainly due to the disposal of assets.

At 9.11am, MRCB added 3 sen to RM1.46 with 892,700 shares traded.

MRCB recognised a gain of RM144.9 million from the sale of Menara Shell, and RM56.1 million from the sale of a leasehold land to Mass Rapid Transit Corp Sdn Bhd during the quarter.

Correspondingly, quarterly revenue grew 166% to RM1.03 billion from RM388.2 million previously.

The directors recommended a first and final single tier dividend of 2.75 sen per share for FY2016, compared to 2.5 sen in FY2016.

Full FY2016 net profit, however, fell 19% to RM267.4 million from RM330.4 million in FY2015.

Though revenue gained 42% to RM2.41 billion — its highest in 10 years — from RM1.7 billion, operating expenses grew almost in tandem to RM2.17 billion from RM1.54 billion. Income tax expense also ballooned to RM73.53 million from RM6.08 million. — theedgemarkets.com

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from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1079215/mrcb-rises-210-solid-4q-earnings

UEM Sunrise sees 26% drop in 4Q net profit

KUALA LUMPUR (Feb 28): UEM Sunrise Bhd’s net profit in the fourth quarter ended Dec 31, 2016 (4QFY2016) slipped 26.4% to RM53.3 million from RM72.4 million a year ago, although its revenue climbed 2.9% to RM624.7 million from RM607 million previously.

The group said its increase in quarterly revenue was due mainly to revenue contribution derived from the progress made by Residensi 22 in Mont’Kiara, Serene Heights in Bangi and Teega Puteri Harbour in Nusajaya.

According to the group’s income statement, its expenses for the quarter jumped by 51.8% to RM131 million from RM86.3 million in 4QFY2015.

According to its filing with Bursa Malaysia, the group’s annual net profit slid 42.7% to RM147.4 million for the financial year ended Dec 31, 2016 (FY2016) from RM257.2 million mainly due to weaker performance of joint ventures and associates and the absence of several one-off items which were recorded in FY2015.

Revenue stood at RM1.84 billion, 5% higher than the RM1.75 billion seen last year.

“The Board of Directors is not proposing any final dividend for the current financial year as the company intends to conserve its cash balances to enable it to take advantage of landbanking opportunities in the near-term for future growth,” it said in a separate statement released today.

The developer added that total property development sales for the period under review was RM1.36 billion, 37% higher than the its sales target of RM1 billion, driven by projects in the Southern Region which contributed RM686.8 million or 50% of total sales compared with 12% in 2015.

It also revealed that property sales for both Malaysia’s central region and international business accounted for 25% each of total sales for the period.

“Serene Heights Bangi, a mid-market residential township development in Selangor was the main contributor for the Central region. Conservatory, an exclusive high-rise residential development overlooking Carlton Gardens and Melbourne’s Royal Exhibition Centre in Australia was the main contributor to International sales,” it added.

“Despite the tough current market environment influenced by a generally soft economy, weak consumers’ sentiment and tighter credit access, we noticed that affordable and landed mid-market type of residential developments are still the preferred choices of local buyers. Tapping on our vast landbank in both the Southern and Central Regions, we realised the opportunity and launched a series of affordable and mid-market products in both — Southern and Central Regions in 2016 and we are encouraged by our sales performance,” said the group’s managing director, Anwar Syahrin Abdul Ajib.

On prospects, the group said it will remain cautious and it is targeting to launch new projects with a combined gross development value (GDV) of RM1.7 billion and a total property sales target of RM1.2 billion.

“2017 is expected to be another challenging year for the local property sector. Headwinds include weak consumer sentiment, rising cost of living, low income growth, high household debt and a relatively high loan rejection rate by banks,” it said.

“Overall, the group is confident that it will be able to deliver satisfactory performance in 2017 on the back of the existing unrecognised revenue of RM4.1 billion from on-going projects that will continue to contribute towards the Group’s revenue and earnings,” it added.

UEM’s shares closed yesterday one sen higher at RM1.15 for a market capitalisation of RM5.22 billion. — theedgemarkets.com

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from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1079200/uem-sunrise-sees-26-drop-4q-net-profit

Penang govt urged to review locations of proposed

GEORGE TOWN (Feb 28): Penangites want the state government to review the proposed location of light rail transit (LRT) stations under the Penang Transport Master Plan (PTMP) for it to be sustainable in the long term.

Federation of Malaysia Manufacturers Penang branch vice chairman Hun Keng Kuan said although the federation supported the PTMP, changes needed to be made, particularly with regard to the locations of the stations.

“The LRT stations need to be strategically located at a highly populated and common public areas to attract commuters.

“We hope the state authority can make the necessary changes to the LRT stations proposed in the project, to make them more accessible and convenient for commuters,” he told reporters after viewing the documents related to the PTMP here yesterday.

Hun said more car parks needed to be built closer to the LRT stations, as they would make it convenient for commuters.

The RM46 billion PTMP is the Penang government’s mega transport project encompassing highways and a rail network, as well as the development of three artificial islands south of Penang.                            

The International Real Estate Federation Malaysia Penang branch chairman Datuk Khor Siang Gin hoped the federal and state governments would work together on the PTMP for the benefit of people.

He said Penang needed the PTMP as it would help boost the state’s socio-economic infrastructure, bringing in more investors that would provide job opportunities for the locals.

“I believe that despite the costs that we are paying for the PTMP, which included sea reclamation and land acquisition, the project will benefit the people, especially those living within this state in the long run,” he said. 

This article first appeared in The Edge Financial Daily, on Feb 28, 2017.

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from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1079171/penang-govt-urged-review-locations-proposed