Wed, Jul 29, 2009
The Business Times
TO help offset a drastic drop in private investment, Malaysia plans to aggressively internationalise its real estate and has set a target of attracting RM20 billion (S$8.2 billion) in foreign investment over the next decade.
It has tasked a new public-private entity called Malaysia Property Incorporated (MPI) with improving the level of foreign investment in the sector, which is currently a mere 2.5 per cent of the value of total properties transacted. In some other countries, foreign transactions as a total are in excess of 30 per cent.
Malaysia has turned to property investment following a plunge in private investment from a third of gross domestic product (GDP) in 1997 to 9 per cent at present. The drastic change in the global landscape and competition for global capital has forced Malaysia to liberalise a number of sectors - including property - where it was previously very protective.
Foreigners are allowed to own freehold residential property, and Malaysia's is some of the cheapest in the region with prime space going for RM1,000-plus per square foot.
The government also recently liberalised the sector by removing a key approval for foreign transactions except where the transaction exceeds RM40 million and involves a dilution of bumiputra interests.
But the current impediment, property players say, is widespread crime. Unless the government redoubles its efforts to contain crime, foreign investors will remain chary.
'To encourage foreign direct investment in commercial and shopping areas and in residences, we cannot but emphasise the increasing concern regarding personal safety and property security in our country,' MPI board of directors chairman Thong Yaw Hong said at the launch of the entity late last week.
'The business climate in Malaysia has, to some extent, been negatively impacted by the increasing number of companies indicating that crimes and thefts are a severe obstacle to investment.'
The perception of crime is also a reason hindering Malaysia's efforts to encourage multinational companies to establish their operational headquarters in the country.
Minister in the prime minister's department in charge of economic planning Nor Mohamed Yakcop acknowledged it was a problem - as is poor public transport - which leads investors to prefer markets such as Hong Kong or Singapore. 'We have taken note of it,' he said at MPI's launch.
The government will provide RM25 million in grants over the next five years to MPI 'to promote and brand Malaysia as a preferred real estate destination to international investors', with a matching amount from the private sector. MPI's target markets include the United Kingdom, West Asia, Japan, Korea, Hong Kong, Singapore and Indonesia.
This article was first published in The Business Times.
Wednesday, July 29, 2009
The Avare, KLCC.
Spacious Living Area with an unobstructed view of KLCC(pls click on pictures for enlarged view)
Swimming Pool with KLCC as a backdrop.
The Avare entrance statement.
FLOORPLAN
FOR SALE: from RM980 to RM 1800 per sq ft negotiable
3,800sq.ft (353.03sq m) - 2 units per floor
5,600 sq ft - duplex penthouse with its own garden and swimming pool.
7,696 sq ft - super penthouse
Features
Social kitchen with ample room for a central table that seats 8
Separate wet kitchen to discreet service entrance
Maid's quarters connected to discreet service entrance
Wardrobe and storage features integrated into wall design
6-Star Living in KLCC.
A super luxury home that stands tall and elegant in the heart Kuala Lumpur City Centre, fully cladded with glass curtain wall complemented by panoramic views of the iconic Petronas Twin Towers, KLCC Park and the capital city's charismatic skyline, from the living, dining area, master bedroom and also master bath!
- Strategically located in a sought after residential address.
- 360° panoramic view of the iconic Petronas Twin Towers and the Royal Selangor Golf Club.
- Exclusivity & privacy - Only 2 units per floor.
- High - 41 storey, 78 units.
- Modern and contemporary feel to façade and interior.
- Low E glass façade and high ceiling with frameless glass to maximize the view
- Immaculate finishes throughout the building.
Location
Set on Lorong Kuda, in the vicinity of Kuala Lumpur City Centre (KLCC.)
The Avare shares company with the iconic Petronas Twin Towers, and foreign embassies and puts you right in the heart of the cities world class facilities and amenities.
Email me at klprime.prop@gmail.com
Tuesday, July 28, 2009
One KL, KLCC.
Built up area: 3,285 to 3,706 sq ft. (Duplex)
Price for Sale: RM 1800 psf negotiable.
Rental per month: from RM 19,000 per month.
Tenure: Freehold
Choice units.
Rooms: 3+1+1
Bathrooms: 4+1
Comes with concealed (ducted) air cond vents and electronic curtains.
Separate dry & wet kitchen.
Private lift to individual units.
Every unit comes with its own private pool!
Developer's website
ONE KL, with a uniqueness that is its own, incorporates the power and grace of water as an all-important design element. Creating architectural perfection, ONE KL’s 95 glass-edged infinity pool complement 94 apartments, in an iconic feat bent on redefining the limits of creation. Your private address is located in the heart of Kuala Lumpur, in command of a visual paradise unlike any other. Designed by award winning architects, world class engineers and internationally renowned building contractors, your new home is the bar of sophistication.
Insights
With a design concept that has no rival, ONE KL is a revolution in architectural masterpieces. Synonymous with "94 Apartments, 95 Swimming Pools", ONE KL is unique, and is the only product of its kind in Malaysia. ONE KL is a new 94-unit condominium project, consisting of all duplex units, each with its own private swimming pool and lift operated by fingerprint access. With 3 basement car parks, ONE KL is sports car friendly. Designed by award winning architects and world class engineers, each phase of development is meticulously scrutinised and constantly tested, ensuring no stone is left unturned.
Towering at 155 meters high, this 35-storey condominium development marks an important step forward, in changing not only the world of architecture and engineering, but also lifestyles and communities. ONE KL is all about bringing expectations of the future to the present day.
Location
Located in the heart of the city, ONE KL is adjacent to the Petronas Twin Towers and the Malaysian Philharmonic Orchestra, opposite Suria KLCC, Kuala Lumpur Convention Centre, the KLCC Park and the Mandarin Oriental Hotel.
Price for Sale: RM 1800 psf negotiable.
Rental per month: from RM 19,000 per month.
Tenure: Freehold
Choice units.
Rooms: 3+1+1
Bathrooms: 4+1
Comes with concealed (ducted) air cond vents and electronic curtains.
Separate dry & wet kitchen.
Private lift to individual units.
Every unit comes with its own private pool!Developer's website
ONE KL, with a uniqueness that is its own, incorporates the power and grace of water as an all-important design element. Creating architectural perfection, ONE KL’s 95 glass-edged infinity pool complement 94 apartments, in an iconic feat bent on redefining the limits of creation. Your private address is located in the heart of Kuala Lumpur, in command of a visual paradise unlike any other. Designed by award winning architects, world class engineers and internationally renowned building contractors, your new home is the bar of sophistication.
Insights
With a design concept that has no rival, ONE KL is a revolution in architectural masterpieces. Synonymous with "94 Apartments, 95 Swimming Pools", ONE KL is unique, and is the only product of its kind in Malaysia. ONE KL is a new 94-unit condominium project, consisting of all duplex units, each with its own private swimming pool and lift operated by fingerprint access. With 3 basement car parks, ONE KL is sports car friendly. Designed by award winning architects and world class engineers, each phase of development is meticulously scrutinised and constantly tested, ensuring no stone is left unturned.
Towering at 155 meters high, this 35-storey condominium development marks an important step forward, in changing not only the world of architecture and engineering, but also lifestyles and communities. ONE KL is all about bringing expectations of the future to the present day.
Location
Located in the heart of the city, ONE KL is adjacent to the Petronas Twin Towers and the Malaysian Philharmonic Orchestra, opposite Suria KLCC, Kuala Lumpur Convention Centre, the KLCC Park and the Mandarin Oriental Hotel.
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