The Z Residence at Bukit Jalil - Bukit Oug

09/10/2020

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09/08/2019

【Bukit Jalil Properties】>>> Facebook.com/BukitJalil/

"The RM266.4mil payout is Ho Hup’s portion from MALTON BHD’s proposed sale of a 49% stake in ᴘᴀᴠɪʟɪᴏɴ ʙᴜᴋɪᴛ ᴊᴀʟɪʟ Mall for RM1.48bil"

PETALING JAYA (July 15, 2019): After five years of dwindling profits, a reversal in Ho Hup Construction Co Bhd’s fortunes is may be on the cards.

Ho Hup gets new lease of life

For starters, this is on the back of a RM266.4mil entitlement stemming from the sale of the Pavilion Bukit Jalil Mall.

The RM266.4mil payout is Ho Hup’s portion from MALTON BHD’s proposed sale of a 49% stake in Pavilion Bukit Jalil Mall for RM1.48bil.

The buyers are the Qatar Investment Authority (QIA) and Malton’s controlling shareholder, Tan Sri Desmond Lim Siew Choon.

Under a joint-venture arrangement, Malton would take the lead and fund the cost of development, whereas Ho Hup would provide the said piece of land in return for an 18% share of the gross development value of the entire project that includes the mall.

The sale of the mall is subject to approval from Malton shareholders. It is understood that the EGM to vote on this would be called for sometime next month. The deal is also subject to regulatory approvals.

Should all approvals be secured, the sale of the mall becomes unconditional and Ho Hup can expect the first portion of its entitlement soon after, with the balance of payments in the subsequent quarters.

Besides the mall, Ho Hup will also earn the entitlements from Malton’s construction progress in Phase 2 and Phase 3 of the Bukit Jalil City (BJC) development.

The project comprises the Pavilion Bukit Jalil Mall and several blocks of apartments with an estimated gross development value of RM4.2bil.

Ho Hup chief executive officer Datuk Derek Wong told StarBiz that “the amount payable to Ho Hup for Phase 2 and Phase 3 is some RM200mil.”

“This money is expected to come in over the next one to two years.

“This is a game changer for us. With the sale of the Pavilion Mall and billings from the BJC development, we can expect the next three financial years to showcase a very strong momentum,” he said.

“We are also considering a dividend policy following this, especially with our shareholders having been so patient and weathering the slowdown with us all this while,” Wong added.

He said Ho Hup also planned to utilise some 40% of the Pavilion proceeds to reduce its borrowings while the rest will be allocated for capital expansion.

“The monies aside, we are expecting better prospects ahead because of our ongoing marketing events to promote sales of The Crown in Kota Kinabalu and the revival of the East Coast Rail Link project. We will also be launching our own project, Aurora Duo in Bukit Jalil, later this year,” said Wong.

Last year, Ho Hup launched The Crown Service Suites in Kota Kinabalu. The project has a gross development value of RM540mil.

The Crown is a seafront development that consists of 323 suites. So far, it has recorded a 45% take-up rate.

Next to these apartments, Ho Hup is also building a 378-room five-star Crowne Plaza Hotel, which is to be managed by InterContinental Hotels Group IHG. The hotel is slated for completion in 2021.

Speculation is rife that interested parties have approached Ho Hup to outwardly acquire the Crowne Plaza Hotel.

Ho Hup has three divisions – property, construction and building materials.

For the last five financial years, Ho Hup’s profits have been on a declining trend. A huge part of this was because its flagship development, Aurora Place in Bukit Jalil, was at its tail end by 2017. As it was contributing some 40% to Ho Hup’s bottom line, the drop in profit was significant.

For example, Ho Hup recorded a net profit of RM65.65mil for its financial year ended Dec 31, 2014 (FY14). By FY18, net profit had dwindled to RM28.89mil.

For its first quarter to March 31, 2019, net profit dropped to RM5.3mil from RM8.64mil in the same period of the previous year. Revenue dropped to RM42.36mil from RM58.5mil.

Ho Hup was uplifted from being a PN17 firm in May of 2014, after it completed its financial regularisation exercise. Prior to that, it had been unprofitable for some eight years.

Its fortunes turned after it struck a deal with MALTON BHD to co-develop the 50 acres it owns in Bukit Jalil. The land was acquired by Ho Hup in 1995 at a cost of about RM30 per sq ft.

Since the BJC’s launch in June 2015, it was seen as the major catalyst to further transform Bukit Jalil into a vibrant and versatile metropolis, backed by two premium brands – Malton and the Pavilion Group.

Ho Hup’s share price has almost doubled on a year-to-date basis. From 32 sen on Jan 2, it closed last Friday at 58 sen. At this price, the stock has a market capitalisation of RM217.44mil.

The largest shareholder of Ho Hup is the Low Chee Group with some 17.37%. This is followed by Insas Bhd with an indirect stake of 13.5%.

News Source: https://www.thestar.com.my/business/business-news/2019/07/15/ho-hup-gets-new-lease-of-life

09/08/2019

【Bukit Jalil Properties】>>> Facebook.com/BukitJalil/

"Healthcare hub - an added jewel for the Bukit Jalil neighbourhood"

KUALA LUMPUR (July 4, 2019): BERJAYA Land Bhd (BLand) has remaining 4.9ha of undeveloped land in Bukit Jalil which is expected to generate a gross development value of RM2 billion.

According to executive director Syed Ali Shahul Hameed, BLand plans to build a multi-generational living-managed healthcare hub with conducive green living space, an added jewel for the Bukit Jalil neighbourhood.

Syed Ali expects the project to commence early next year.

“The 12.2 acres (4.9ha) is probably the last prime land here that is facing the Bukit Jalil Golf & Country Resort... We want to add prime healthcare within our golf resort development. We estimate the project will take about four years to complete,” he told NST Property.

Syed Ali said the healthcare hub would offer more than1,000 units of low-and high-rise apartments for families and some would come with a dual-key concept.

He said the apartments would be complemented with an administrator providing multiple services for health and retreat including 24-hour nurse assistant, a hydrotherapy pool, and a special gymnasium for the elderly.

“This development will be very luxurious. We are talking to local operators to do this. The operator who comes on board will work with International Medical University (IMU) to serve the healthcare hub.”

Syed Ali said the apartments would be launched next year.

“We are bullish about this development... it is the first of its kind in Malaysia. The country needs this kind of healthcare offering for the young and old generation and with that we can promote medical tourism,” he said.

Syed Ali said the company is targeting long-term stay as the emphasis is on community living.

“Bukit Jalil is now seen as a new growth area in the south of Kuala Lumpur. The population is growing as it is well-connected by major roads and highways. From Bukit Jalil, you can easily head to Puchong, Shah Alam, KLIA (Kuala Lumpur International Airport), Seremban or Melaka and beyond. We feel this healthcare development project will be a huge success because of the location,” he said.

This quaint suburb is located not too far off from Kuala Lumpur and accessible via five major highways including the Damansara-Puchong Expressway, Puchong-Sungai Besi Highway, Shah Alam Expressway, Maju Expressway and New Pantai Expressway.

INCREASING POPULATION

Syed Ali said Bukit Jalil is attractive as there are a lot of greenery and unobstructure views, which are not available in most other neighbourhoods.

The area has a strong green lung with the 67ha Bukit Jalil Golf and Country Resort, and the 32ha Taman Rekreasi Bukit Jalil (Bukit Jalil Park).

“When the Pavillion Bukit Jalil Mall comes on board, I don’t think people will want to leave Bukit Jalil,” he said.

The Pavillion Bukit Jalil mall is the crown jewel of the 20.2ha RM4 billion Bukit Jalil City integrated development.

Developed by Malton Bhd, it is among the biggest developments in the area. It has four components namely the mall, Signature Shop Offices, The Park Sky Residence, Park Point Shop Office and The Park 2.

Slated for completion by March 2021, Pavilion Bukit Jalil is poised to be an entertainment and

retail hub in the southern corridor of the Klang Valley.

The mall with a net lettable area of 1.8 million sq ft, coupled with the offices, will provide thousands of employment opportunities. Bukit Jalil’s population and employment are projected to increase by about 24.2 and 51.6 per cent to 464,300 and 273,121 respectively from next year.

Pavilion Kuala Lumpur retail chief executive officer Datuk Joyce Yap had in 2017 said Pavilion Bukit Jalil was expected to achieve retail sales turnover of RM1.7 billion in the first 12 months of operation.

Malton’s controlling shareholder Tan Sri Desmond Lim, together with the Qatar Investment Authority, are partaking in the development of the mall.

Property News Source: https://www.nst.com.my/property/2019/07/501438/healthcare-hub-be-added-jewel

09/08/2019

【Bukit Jalil Properties】>>> Facebook.com/BukitJalil/

"Bukit Jalil - Good connectivity, offerings attract buyers"

KUALA LUMPUR (July 11): ONCE an estate, Bukit Jalil has turned into one of the most sought-after neighbourhoods thanks to catalytic developments, such as the National Sports Complex (NSC) and the 18-hole Bukit Jalil Golf & Country Resort.

A suburb of Kuala Lumpur, development activities in the area started in 1992.

The NSC, the largest sporting venue in Malaysia, was built by United Engineers Malaysia Bhd (UEM) for the 16th Commonwealth Games, which was hosted by Malaysia in 1998.

It comprised five stadiums, the National Sports Council’s headquarters, the Bukit Jalil Sports School and parks.

UEM also built three condominium blocks known as Vista Komanwel to house the games’ officials and contestants from participating countries.

The high-density project, also known as Athletes Village, once ended up as a ghost town when the Commonwealth Games was over.

The situation, however, changed when developers like Berjaya Land Bhd (BLand) and Bukit Jalil City Sdn Bhd came in and slowly started buying up land in the area.

The first development by BLand was Bukit Jalil Golf & Country Resort, and this prompted many more players to venture in Bukit Jalil as they anticipated demand for houses to increase.

The entry of higher education institutions, such as the International Medical University (IMU) and Asia Pacific University of Technology and Innovation (APU), helped boost demand for properties in the area.

It also gained from major improvement in the infrastructure.

Bukit Jalil today is linked to other parts of the Klang Valley via the Damansara-Puchong Expressway and the Puchong-Sungai Besi Highway. It is also accessible via the Shah Alam Expressway, Maju Expressway, and the New Pantai Expressway.

The quaint suburb is also served by a light rail transit (LRT) line, with two stations — Bukit Jalil LRT station and Sri Petaling LRT station.

When the Commonwealth Games ended in 1998, there was another hiccup. The conditions of the stadiums in the NSC started to become an eyesore.

In 2015, Malaysian Resources Corp Bhd (MRCB) was awarded a RM1.6 billion contract to rejuvenate the NSC in two phases, and transform it into a new sports city that could rival Singapore’s iconic Sports Hub.

MRCB completed Phase One in time to host the 2017 Southeast Asian (SEA) Games. It involved refurbishing, renovating and upgrading the National Stadium, Putra Stadium (now renamed Axiata Arena), the hockey stadium and the aquatic centre.

This phase was crucial in creating KL Sports City — a fully-integrated sports hub that consists of new, world-class infrastructure, including high-performance sports training facilities, a sports rehabilitation science centre, youth park, public sports facilities, sports museum, youth hostel, convention centre and a sports-focused retail mall.

STEADY GROWTH

With the NSC rejuvenation, there has been more interest in Bukit Jalil from house buyers, investors, retailers, multinational companies and businesses in general.

Exsim Group, which developed its first project in the suburb in 2009, said developers could easily sell apartments at gross selling price from RM800,000.

“There is steady growth in Bukit Jalil. The area has existed for a long time, but people had not really paid much attention to it. But in the last 10 years, people started looking at Bukit Jalil. Based on feedback we have received, people want to live in Bukit Jalil to be close to the golf course, the 80-acre (32.37ha) green lung that is already here and the new Pavillion Bukit Jalil Mall that is coming up.

“Apart from IMU and APU, there is SJK (C) Lai Meng, the NSC and LRT station. The way I see it, Bukit Jalil is a city on its own. It has everything from primary, secondary and tertiary education, medical centres, shopping mall, retail, office towers, landed properties, apartments, a golf course and recreational park,” said Michelle Siew, head of marketing and corporate communications of Exsim Development Sdn Bhd.

Exsim has launched 21 projects with total gross development value of about RM8 billion since 2008. It has completed 14 of those projects and seven are ongoing.

The company started with Nouvelle Industrial Park, an industrial development in Kota Damansara.

Exsim launched its flagship residential project in Bukit Jalil, The Treez, in 2009.

“We launched The Treez at RM400 per sq ft (psf). Today, in the secondary market The Treez is selling at RM800 psf. We entered the right time in 2009. It was a booming period back then,” said Siew.

In 2017, Exsim launched The Leafz at RM400 psf. In the secondary market, it is currently selling at about RM700 psf,” she added.

Property News Source: https://www.nst.com.my/property/2019/07/503432/good-connectivity-offerings-attract-buyers

14/07/2019

【Bukit Jalil Properties】『NEWS』
Follow Page >>> https://www.facebook.com/BukitJalil/

"Local property market is in correction mode and this is good as it can find a balance between supply and demand"

Bukit Jalil, surrounded by mature neighbourhoods such as Serdang, Puchong, Happy Garden, Taman OUG and Sri Petaling, has expanded to include Mutiara Jalil, Puncak Jalil, Jalil Sutera, Taman Esplanad and Taman Yarl.

“We see it expanding further just like Bangsar, where there is Bangsar South, which otherwise is Kampung Kerinchi. We see developers riding on the popularity of Bukit Jalil to create new areas under the brand name.

“When there is a new area being developed, it will sell well as they are all connected,” said Michelle Siew, head of marketing and corporate communications of Exsim Development Sdn Bhd.

One of the biggest property players in Bukit Jalil is Tan Sri Desmond Lim Siew Choon who, through Malton Bhd, is developing the RM4 billion Bukit Jalil City.

The 20ha Bukit Jalil City, which is a collaboration with the Pavilion group, is the most high-profile and highly-anticipated project in the area.

It has four components, namely Pavillion Bukit Jalil shopping mall, Signature Shop Offices, The Park Sky Residence, and Park Point Shop Office and The Park 2.

The first phase comprising 112 signature shop offices has been fully sold since its launch in 2015.

The second phase consists of 1,098 units of luxury serviced apartments and 44 units of retail shops, and the units are also sold out.

The third phase is The Park 2, comprising two serviced apartment towers.

Back in 2012, another company controlled by Lim, WCT Holdings Bhd, acquired the entire equity interest in Timor Barat Properties Sdn Bhd, which has three parcels of land totalling 23ha in the matured Overseas Union Garden (OUG) area for RM450 million, or an average of RM180 per sq ft (psf).

The land is situated in Taman Yarl, off the Old Klang Road, and WCT has started a project there called Paradigm Garden City, with a total gross development value (GDV) of RM8 billion to RM10 billion.

The integrated project will be anchored by a mega mall and complemented by a corporate office tower, retail offices, luxury residences and hotel.

The first phase of the project, The Waltz Residences, comprising two tower blocks and 419 units, was launched in 2016. Units were priced from RM754,000.

NO BULL RUN FOR PROPERTY MARKET

Exsim’s Siew said the local property market may rebound in the next two to three years, but there would be no bull run.

“The end of 2008 to 2011 were golden years for the property market. Wrong product, wrong location, wrong pricing, you still made money. Those who bought properties during those years, they managed to get good returns of up to 100 per cent. Fundamentally, Malaysia is still strong.

“Public-listed companies are still enjoying good results and banks are doing well. As a developer, I still think the local property market is okay compared to other markets. But I don’t think those golden years will come back again so soon,” she said.

Siew said the local property market is in correction mode and this is good as it can find a balance between supply and demand.

“This industry is still growing healthily as banks are doing their job, in terms of strict lending. Imagine what will happen if banks give loans to buyers to buy up to 10 properties. If you can’t serve (the loans), you will harm the economy.

“Many people use property to make big money. But the role of property is to hedge against inflation. Property should go back to... ‘property to stay, for long-term investment, for rental return and to hedge against inflation’.

“Property shouldn’t be (made) for speculators as they spoil the market. If prices increase by three to five per cent or 10 per cent a year, it is good. Prices shouldn’t increase by 20 to 30 per cent,” she said.

Siew added that next year, Exsim would look at developing a 0.5ha plot in Bukit Jalil, where it plans to build 300 to 400 units of serviced apartments.The company’s target will be owner-occupiers.

Property News Source: https://www.nst.com.my/property/2019/07/503427/exsim-expects-further-expansion

31/12/2017

Happy New Year 2018🎉🎊

08/02/2016

Happy Chinese New Year! Wishing you prosperity on the Year of the Monkey. I wish you all the luck, health, and fortune and all those you love!

31/12/2015

🎉🎉 HAPPY NEW YEAR 2016 🎉🎉

30/10/2015

MRCB participates in 3 megaprojects; Kwasa Utama, KL Sports City and Cyberjaya City Centre

Government-linked company Malaysian Resources Corporation Berhad (MRCB) has clinched two major jobs totalling RM4.78 billion and also announced it wou...

27/09/2015

Happy Mid-Autumn Festival 2015 中秋节快乐 2015
祝福中秋佳節快樂，月圓人圓事事團圓。人順心順事事都順。祝全家幸福、和氣滿堂、合家歡樂！
#中秋节快乐2015

21/06/2015

Happy fathers day to all beloved daddies out there!

17/02/2015

祝各位，新年快乐，羊年快乐福气多