Monday 22 July 2013

UEM Sunrise to fully develop Mont Kiara landbank within eight years

KUALA LUMPURL: Property developer, UEM Sunrise Bhd, is aiming to fully develop its 36.42 hectares (90 acres) landbank in Mont Kiara within eight years, said its Chief Marketing Officer, Siti Mariam Mohd Desa.
"At the moment, we have not really thought out in detail, the sort of development for that prime land. We will look at the market (demand) and are not in rush to develop it," she told press conference on an update to the company's Arcoris Mont'Kiara project here today.
She said due to its strategic location and easy accessibility, the company also planned to expand the landbank in the related areas.
To date, UEM Sunrise, the master developer of Nusajaya, has a landbank of 4046.85 hectares (10,000 acres)in Peninsular Malaysia.
Arcoris Mont'Kiara, a mixed-use commercial high rise development project, comprises business suites, small office home offices (SoHo), service residences, a retail plaza and boutique hotel.
Providing an update on the sales progress, Siti said the business suites had been fully sold, residences at 95% and 70% for the SoHo. The retail plaza and hotel are not for sale.
The company is currently looking for suitable food and beverage tenants, as well as potential hotel operators, to run the 275-room boutique hotel.
The projected RM1bil gross development value project is targeted to be fully complete by the first quarter of 2016. - Bernama (19 July 2013)

New lease of life for ageing buildings

There are a few things you can do to an ageing building: abandon it, live with it, knock it down or redevelop it to adapt to the times.
In space-hungry cities, the first option is rarely the solution. On the contrary, the scramble for a central location means that developers are willing to buy old buildings and rebuild it higher.
As developers build taller structures, should they also be building to last?
Ranhill Bersekutu mechanical services deputy director Arvind Menon notes the importance of building adaptability.
In his presentation at the Veritas Design Group seminar on tall buildings recently, he speaks of the need for foresight, to build for future use rather than only current needs.
“A building can stand indefinitely if it is maintained and or rebuilt as required,” he tells StarBizWeek. “Iconic towers such as the Chrysler building, over 83 years old, have remained functional.”
In a building’s life span, he says, the way it is used, viewed aesthetically and its adaptability towards technology ensures its survival.
“Great buildings and iconic structures can revive its surroundings when they are upgraded,” he says.
He gives a local example of the old Empire Tower which is now the landmark Intermark.
Arvind believes that all buildings regardless of usage should consider the provision to adapt for the future, although this is more so for commercial developments.
“Adaptability would be more important in commercial high rise than residential as residential developments have a fixed usage with residential amenities. Commercial building are usually built with higher floor-to-floor heights, which allows them to be converted to residential if necessary,” he says.
That said, there is no denying that the cost to maintain a building will also eventually exceed its functional value. However, a well-designed building with sufficient room for expansion would delay this eventuality.
Arvind points out that there have been few buildings in Malaysia that have “lived out” their life expectancy, unable to cater to the needs of the current times. The Pekeliling Flats and Wisma Angkasaraya are some examples.
“Both have been demolished to bring forth new development, but similarly there are also buildings, like the Empire Tower, which have had a new lease of life through new technology and risers,” he shares.
Under Ranhill’s portfolio, Arvind notes that its recently completed project, Menara Binjai, has provision for vertical and horizontal services expansion, “allowing the building to meet its tenant needs now and in the near future” as a land-scarce city continues to expand upwards.
As Veritas CEO David Mizan Hashim puts it: “We should embrace this evolving urban paradigm (building higher) that offers humanity the promise of an energy-efficient ecosystem wherein populations have migrated to dense and tall cities.”
The Star July, 13

Sime Darby's City of Elmina sees near 100% take up

KUALA LUMPUR: Sime Darby Property’s latest development, City of Elmina saw a near 100% take up during its soft launch which involved 255 units of double-storey link houses valued at RM188.18mil.
Chief operating officer Datuk Wahab Maskan said the township provided buyers with a balanced lifestyle where it boasts a 300-acre parkland that is an extension of the existing 2,700-acre forest reserve adjacent to the township.
“The township will also feature, amongst others, a 70-kilometer cycling track, a well-marked marathon-distance (42km) jogging track and a wellness cluster of retail shops, facilities and amenities centered on health and well-being.
“In addition, safety and security of our residents will also be a priority and have been incorporated from the design stage of this township,” he added.
Sime Darby said the industrial component within City of Elmina had also been well received where the group recently saw all 51 vacant lots amounting to 95.46 acres with a sales value of RM370.07mil being completely taken up.
The group added it is planning to unveil the next phase of homes in the existing township in the fourth quarter of 2013.
The township is a part of the Selangor Vision City, where the entire Guthrie Corridor is set to be the growth center and catalyst within Greater Kuala Lumpur and Klang Valley.
(The Star, July 10)