UOA Development acquired 6 parcels of freehold land at Jalan Ipoh for RM130.33mil

The land to be bought by UOA's unit Tiarawoods Sdn Bhd will be an addition to the group's existing land of 16.8 acres in the same area. Once the purchase is completed, UOA will collectively own about 28 acres of prime development land there.

The Land measures in total approximately 483,322.71 square feet (11.1 acres) and is presently free from encumbrances save and except for the followings:

(i) portion of the land held under GM5909 Lot 950, Mukim Batu, Daerah and Negeri Wilayah Persekutuan Kuala Lumpur (“Lot 950”) are occupied by 3 tenants (“Lot 950 Tenants”);

(ii) the land held under GM1173, Lot 4052, Mukim Batu, Daerah and Negeri Wilayah Persekutuan Kuala Lumpur (“Lot 4052”) is occupied by a tenant (“Lot 4052 Tenant”);

(iii) registrar caveat(s) registered on the Land (“Registrar’s Caveats”);

(iv) squatters (“Squatters”); and



UOA Development acquired 6 parcels of freehold land at Jalan Ipoh for RM130.33mil

(v) use of way granted on Lot 4052 to Ng Beh Leow Sdn Bhd (“NBL”) and Lot 950 Tenants (“Use of Way”).

Rational for the acquisition

UOA is committed to continue its fast turnaround development strategy that focuses in the Klang Valley. The Proposed Acquisition is in line with UOA’s strategy and will further grow its development activities within Klang Valley.

The Jalan Ipoh Land is strategically located at Jalan Ipoh, less than 10 kilometres from Kuala Lumpur City Centre. The location is surrounded by densely populated residential areas such as Taman Kok Lian, Taman Impian, Taman Sri Kuching and Taman Rainbow. The Proposed Acquisition will be an addition to UOA’s existing land of approximately 16.8 acres, owned by the Purchaser. On completion of this Proposed Acquisition, the Purchaser will collectively own approximately 28 acres of prime development land in this location. The development will be highly accessible via major highways such as Duta-Ulu Klang Expressway (DUKE) and Jalan Kuching.

UOA is proposing to develop the Jalan Ipoh Land, combined with the existing land, into an integrated mixed development and is expected to commence in the year 2014.

The total development costs for and the expected profits to be derived from the development of the Jalan Ipoh Land have yet to be ascertained at this juncture as the detailed development plan is pending finalisation.

The proposed acquisition is expected to be completed by the second quarter of 2014.

New township by MKH, Hillpark Shah Alam, focuses on nature and environment

MKH Bhd, an established property developer in Kajang, recently unveiled part of its 550 acre integrated township, Hillpark Shah Alam, to the public.

The new integrated township, with an estimated GDV of RM1.3 billion, comprises double storey link houses, superlinks, semi-dees, bungalows, shop offices, service apartments, mixed commercial component, a proposed school and a police station.

“Due to the overwhelming response, we opened our second phase, Cherry, for sale, which also received an encouraging response from the public,” said MKH managing director Tan Sri Eddy Chen.

“Hillpark Shah Alam is strategically located in the Northern Corridor of Shah Alam, with easy access to six major highways; Latar Expressway, GCE, NKVE, DASH, Federal Highway and the Puncak Alam Highway. The distance is just 20 minutes away from Shah Alam, Petaling Jaya and Kuala Lumpur,” added Chen.

The project is near University Teknologi Mara, an existing McDonalds, medical centre and an Econsave supermarket. There are plans for a hypermarket to be built soon for the convenience of residents.

Chen said, besides its strategic location, the township was designed with nature in mind throughout the planning stages and caters for people from all stages of life. For those seeking active lifestyles, there will be mountain bike tracks, jogging tracks and innovative playground among other features.

Thematic parks such as Herb Farm, English Orchard, Spanish Courtyard and Japanese Rock Garden within the development will offer residents havens from the daily grind of working life

KH is keen on making Hillpark Shah Alam a green development.

The company says what set its township apart from other nature-inspired development is the sheer size of its Forest Park and Central Lake Park, providing 50 acres of greenery for all residents to enjoy.

This excludes the neighbourhood parks that will be built in each precinct. As part of the project’s green design, all the units will be built in a north-south orientation to reduce the heat from the sun which effectively lowering the energy required to cool houses.

As safety is also of paramount importance, MKH has incorporated CCTV coverage into the development and perimeter fencing along pedestrian walkways.

The group believes that this latest addition to its growing list of developments will help to meet the high demand for landed properties in Malaysia as well as introducing MKH to a new and wider market in the Northern Klang Valley.

Pines, the first phase of the township, offers 311 double-storey link homes with built-up areas ranging from 20ft by 70ft to 22ft by 70ft. The second phase, Cherry, offers 412 double-storey link and superlink homes that range in size from 22ft by 65ft to 26ft by 80ft. Another phase called Olive consists of 343 22ft by 75ft double-storey link houses.

These units are targeted at house buyers who want larger homes for a growing family. The units in the township start from RM440,000.

“Considering the great value we are offering to the market, the development has attracted young families and first-time buyers,” said Chen, adding that Hillpark Shah Alam has registered over 7,000 interested buyers to date.

Following the successful launch of the Pines phase, Cherry and Olive are now open for sale, with more phases to follow. While both phases will feature their own parks, the more exclusive Cherry phase will have extra greenery in the shape of the Pines Linear Park, Neighbourhood Park, Central Lake Park and the Forest Park.

“We expect Cherry to enjoy quick sales when it is officially launched for sale,” added Chen.

The Star, 5/10/2013

More demand for secondary property

Prices of new homes in primary market too high for most people

Some 70% of residential property transacted in the country today are in the secondary market, while the remaining 30% are newly launched projects.

Raine & Horne Malaysia (Penang) director Michael Geh said more people were going after secondary property because of the pricing which ranged between RM72,000 and RM350,000.

“This market has been very active in the last 12 months and I foresee that it will be very active for the next six months, in terms of sales and rental,” he said at the recent Malaysian Secondary Property Exhibition (MASPEX) Penang 2013 at the Penang Times Square.

“Another reason for its popularity is that the secondary property is already built which means buyers can move in immediately.”

Geh said that in the primary market, many residential units were now being sold at a high price due to market demand and inflation among other factors.

“It is only due to the recent Bank Negara credit curbs that the rise in property prices has slowed a bit,” he said.

“These high price tags for new residential projects has made owning a home a distant dream for the middle class.

 “The rental market will thrive in such circumstances as more turn to renting instead of buying their own homes.”

On the affordability level of new houses, Geh said that according to the Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan, about 76% of urban wage earners in the country earned RM5,000 or less each month.

“This means 76% of the urban working population can’t afford to purchase their own homes in the primary market,” he said.

Meanwhile, Malaysian Institute of Estate Agents president Siva Shanker said between 5,000 and 7,000 people visited the three-day fair.

“We received some 2,000 enquiries, and about 200 of them turned into sales,” he said.

“We are still gathering information on the deals closed at the fair.”

An estimated RM1.5billion worth of secondary property was showcased during the three-day event.

The event featured more than 1,000 units of residential property in Penang and a few in Kuala Lumpur.

The Star, 8/10/2013