The Group’s focus is on real estate and property-related services and financial services, with operations and investments in Malaysia, Vietnam, Singapore, People’s Republic of China, Hong Kong and Australia.

Over the years, Mulpha has leveraged on its expertise abroad to become Malaysia’s largest real estate investor and developer in Australia, owning world-class assets that include Sanctuary Cove and Hyatt Regency Sanctuary Cove in Queensland, InterContinental Sydney, Hilton Melbourne Airport, Norwest Business Park Sydney, The Hotel School Sydney, Bimbadgen Estate in New South Wales’ Hunter Valley and the world-renowned and award-winning Hayman Great Barrier Reef.

Today, Mulpha has been transformed into a diversified group with its core business focused on property development and investment.
Our business network is spread across the Asia Pacific region, namely Malaysia, Australia, People’s Republic of China, Hong Kong, Vietnam and Singapore.

Over the years, Mulpha leveraged on its expertise abroad to become Malaysia’s largest real estate investor and developer in Australia and presently has estimated assets worth A$1 billion. With the solid foundation and successful track record established in Australia, we strive to excel the same in other regions as well.

At Mulpha, we are committed to continually unlocking potential in our ventures, and deliver better value and returns to our shareholders and stakeholders.

Contact Information

• MULPHA INTERNATIONAL BHD
  No. 17, Jalan Semangat
  46100 Petaling Jaya
  Selangor Malaysia
• Tel: (603) 7957 2233, (603) 7957 1344
  Fax: (603) 7957 2234
• Email: postmaster@mulpha.com.my

The name “Malaysian Association of Real Estate Agents” (MARAE) was changed to “Malaysian Institute of Estate Agents” (MIEA) on May 3, 1989 to reflect a more professional image of the organization as it progressed through the years.

Presently, all practising Estate Agents are required to be approved and registered with the Board of Valuers, Appraisers and Estate Agents, Malaysia in accordance with the Valuers, Appraisers and Estate Agents is under the purview of the Ministry of Finance.

VISION

To unite all Registered Estate Agents in Malaysia to becomes an Independent Body and to promote greater excellence and professionalism in the Real Estate Industry toward higher ideals and greater profitability.

OBJECTIVES

• Address Critical Issues Which Affect Our Industry;
• Cultivate A Positive Public Perception For The Interest Of Our Profession;
• Safeguard And Protect The Interest of Our Members And The General Public;
• Uphold High Professional Standards, Ethics And Integrity Amongst Members;
• Commitment To Continuous Education To Keep Members Progressive And Current On Issues To Stay Competitive;
• Encourage The General Public To Use The Services Of Registered Estate Agents Only, Through Public Awareness.

Contact Information

• Enquiries: MIEA 03-7960 2577
  Malaysian Institute of Estate Agents (MIEA), Unit C-27-05, Dataran 3 Dua, No. 2 Jalan 19/1,
  46300 Petaling Jaya, Selangor Darul Ehsan

Incoming search terms:

• malaysian institute estate agent

President K. Soma Sundram said the 2,213sq ft office space located on the fifth floor of a building at the 3 Two Square commercial hub in section 19 of Petaling Jaya, Selangor, was bought for RM695,000 with savings and contributions from its members and well wishers.

These include RM125,000 raised from the Malaysian real estate convention last year, RM218,000 from members, contributions of RM100,000 from OCBC Bank (M) Bhd and RM50,000 from American International Assurance Bhd, and donations of RM18,000 by David Ong of Reapfield Properties Sdn Bhd, RM15,000 from O&L Real Estate, and many others.

He said the office premises, which incurred renovation costs of RM120,000, is currently estimated to be worth close to RM1 million.

According to him, MIEA had the idea of having its own premises since the eighties but it was aborted due to recession and the fact it had just a little over RM60,000 then until 1991, when Datuk Leslie Lee Kim Guan of New Bob Realty Sdn Bhd initiated a building fund with an initial contribution of RM500.

And the rest, like they say, is history.

With its own premises, he said MIEA can now conduct training sessions for real estate negotiators as well as carry out research and development and other activities in a more conducive environment.

He added MIEA plans to introduce an examination programme for negotiators who want to enter the real estate selling profession, in a move to reduce the number of illegal ones.

It also intends to have a “black book for bad tenants” to weed out those who abuse the law by not paying rent as well as.

Property News

Based in Petaling Jaya, the Association was established on 21 May 1970 with 13 pioneer members to represent the private sector in property development in Malaysia. Today, REHDA boasts a membership of over 800 developers across the nation who are responsible for some 80% of the total real estate built.

REHDA has grown as the leading voice of development of developers in all property categories, from traditional housing projects to condominiums, townships, towering commercial complexes, shopping malls, state-of-the-art golf courses, hospitals, theme parks and industrial estates.

Being the sole national representative body for property developers, REHDA plays a pivotal role in ensuring that developers’ views are heard by the relevant authorities and government agencies. REHDA is highly respected by both the public and private sectors for its commitment to nation building and betterment of life. The Association’s quest to provide affordable and quality housing for the nation through its members has also yielded great success. These remarkable achievements reflect REHDA’s growth from strength to strength, and this record is set to continue well into the future.

Objectives

REHDA’s guiding principle is to provide responsible leadership to all property developers in building quality housing and real estate for the nation.

Specifically our objectives are :

• To promote and co-ordinate the development of land and construction of buildings for residential, commercial, industrial, tourism and other related purpose by members with a view towards contributing effectively to the economic development of the country ;
• To promote measures aimed at securing improvements pertaining to the techniques and methods of the development of land and construction of buildings for residential, commercial, industrial, tourism and other related purpose by members throughout the country;
• To study problems arising from the development of land and construction of buildings as well as to propose solutions to the government, through the relevant ministries, departments and agencies;
• To protect the legitimate interests of members, in particular, to dialogue with the government and its agencies on matters pertaining to policy, finance, legislation, technical standards and administrative procedures, affecting the development of land and construction of buildings.

Code Of Ethics

That it shall be known to all men that members of REHDA Malaysia are distinct by their integrity, reliability and fairness, this Code of Ethics shall serve to guide and inspire all developers to faithfully honour as well as observe the principles herein under stated :-

• to act in accordance with the rules and constitution of REHDA Malaysia;
• to uphold at all times the dignity and reputation of REHDA Malaysia;
• to be guided at all times in dealings with clients, fellow developers and others by a sense of honour, fairness, propriety and mutual respect; and to strive for excellence in the daily conduct of one’s business as well as maintain the dignity of the real estate and housing industry.

In cognizance and support of the nobility and worthiness of the abovementioned principles we hereby set our hand in testimony.

Contact Information

• REHDA Malaysia
  No 50G-3, 50H-3, 50I-3, Kelana Mall
  Jalan SS 6/14, Kelana Jaya
  47301 Petaling Jaya
  Selangor Darul Ehsan
  T: +603 7803 2978
  F: +603 7805 1206
  +603 7803 5285
  E: secretariat@rehda.com

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Heritage comprises six blocks: a single office building called The Heritage Tower, five residential blocks named The Heritage Residences, and the two-storey retail space called The Heritage Village. The Heritage capitalises on the current worldwide demand for waterfront properties, and attracts the kind of enlightened, discerning and affluent people who naturally desire a residence by the water.

The Heritage is also surrounded by a RM3 billion green luxury township called Bluwater Estate, a theme park, a shopping mall, an exclusive golf club, exceptional bungalows and various educational facilities, including the prestigious Australian International School Malaysia (AISM).

A draw for discerning locals and expatriates

The Heritage’s luxury accommodation, resort style facilities and round-the-clock security would be a draw for discerning locals and expatriates. The superior facilities and top-class education choices – AISM, Alice Smith International School and Nexus World School in Putrajaya – enhance an already sterling location.

Home is not just a rest stop but a destination at The Heritage. You are right on the water’s edge; you have panoramic views that stretch as far as the eye can see; you immediately leave the real world behind and allow yourself to escape to a realm of relaxation and tranquillity. As your mind eases into a calmer state, your senses are rejuvenated. Once you are home, you may never want to leave…

Highlights of a home at The Heritage include spacious layouts with 11.5ft ceilings, lake views, three-tier security access at the main entrance, car parks and lift lobby, and 24-hour security with CCTV and smart card access.

Yet another aspect of The Heritage Residences is the 100,000 sqf recreational space dubbed 7th Heaven. This seventh floor recreational area comprises facilities such as a gymnasium, swimming pools, saunas, restaurants and cafes, a children’s play area, snooker and pool tables, a laundrette, a dedicated barbeque area, tennis courts, a function area, a table tennis room and dedicated landscaped gardens.

The Heritage Village

The two-storey The Heritage Village is a neighbourhood mall with two distinct features – a waterfront alfresco F&B haven on the ground floor, and a high-security child enrichment centre on the upper level.

So, while children are happily engaged in their activities, parents can safely indulge in their own relaxation with nary a worry. While waiting, parents can savour a cuppa at the many cafes within the mall, surf the net or even engage in a spot of grocery shopping at the organic food mini mart.

Billed as “a dream place to work”, The Heritage Tower boasts a total of 135,832 sqf over eight floors that have been fully leased. Great views of Bluwater and the surrounding area make it an oasis of peace – the perfect backdrop for closing deals and achieving great success.

The importance of being accessible to people and places need not be overstated at The Heritage. It is strategically located between Kuala Lumpur and Putrajaya and well connected to seven major highways: BESRAYA, SILK, North-South Highway, North-South Central Link, Damansara-Puchong Highway, KESAS and MRR 2.

In addition, The Heritage is only 30 minutes from Kuala Lumpur International Airport, and just 10 to 30 minutes from Cyberjaya, Petaling Jaya and the city.

For more information about The Heritage Residences, The Heritage Village and The Heritage Tower, please visit G-2, Office Tower, The Heritage, Jalan SB Dagang, 43300 Seri Kembangan, Selangor; call (603) 8947 9998; fax (603) 8945 8528, or visit www.theheritage.com.my.

“In view of the slowing economy, we reposition our development to suit the market demands,” Lim told StarBiz. “We (downsized) the development because we anticipated that the retail mall business would be tough going forward.”

Lim said the decision would also “lighten up” the company’s cash position, adding that the project’s profit margin could be maintained at 25% to 30% of sales value.

“Magna Prima is able to retain a healthy profit margin because we may not keep any of the assets in the amended RM600mil (project),” he said, revealing that the company had planned to retain 45% to 55% of the original project.

As of end of October, the group had RM230mil in unbilled sales.

The Magna City will have over 1.6mil square feet of net floor area while the construction is targeted to commence in the middle of 2009.

It sits on 10.23 acres of freehold land comprising 67 units of lifestyle shop offices, two levels of retail lots, two levels of corporate offices and 800 units of service apartments.

Magna City project to be downsized

However, as the economy faces tough challenges in view of the current global financial crisis, the local property market has also experienced a general slowdown. The consensus among property developers is that times would be “bad” next year, although few would admit it openly.

Some developers who joined the office market craze in Petaling Jaya in the past few years may be lucky as they have managed to complete their projects and sold or tenanted out most of their office and retail spaces.

These are the new generation strata office developments where some of them have retail components. They are mainly found along the Federal Highway (mostly purpose-built integrated offices like PJ City, PJ8) and in Section 13, 14 and 19 like Jaya 33, Jaya One, The Quill 9 and 3 Two Square.

Affluent townships like Bandar Utama and Taman Tun Dr Ismail (TTDI) are also seeing several new office projects (Menara Surian next to Ikano Power Centre and three in Bandar Utama City Centre viz Plaza IBM, KPMG Tower and 1, First Avenue. With Bandar Utama being awarded the MSC Cybercentre status in October, it would enhance the value of properties there).

Ken Group is also planning to build an office block in TTDI.

Coming up in the Kampung Kayu Area is 10 Boulevard and nearby, just after the Damansara toll plaza is the new Merchant Square.

There are many more being planned or under construction.

Those that have just been launched or just completed may face an uncertain future. This may be partly due to a softening market that is expected to get worse next year.

Although oil prices have dipped recently, there are still fears that it might jump next year, causing another round of fears and uncertainty. The global financial “tsunami” may hit our shores hard next year.

Meanwhile, a rough poll shows that generally the office market in Petaling Jaya, especially for the new developments, are holding up fairly well.

Businesses today want to be seen as progressive and not holed up in some old shop houses. They do not mind paying a premium to own or rent offices that are well located and have lots of amenities.

S K Brothers Realty Sdn Bhd general manager Chan Ai Cheng points out that employees are also choosy in not only who they are working for, but also where they work, as in location.

“An interesting thing while marketing 3 Two Square is that we noticed that businesses were moving out of the older shop offices and shop houses to new developments as their former image had made it difficult for them to hire staff, much less retain them. Young graduates today are looking at working in fine offices, and places with a nice address plus extra perks. It reflects the changing times,” she says, adding that many companies who had their roots in Petaling Jaya were also reluctant to relocate elsewhere.

SK Brothers, she says, is one such company that had bought office space in 3 Two Square which is very near its former office in Paramount Garden that it had been operating since 1979.

“When we bought our office space in 3 Two Square, prices were around RM260 psf to RM280 psf but it has since gone up. We transacted a unit at 3 Two Square early this year for RM315 psf. Recently, we transacted another office space just above our unit at RM380 psf. Office rental rates there are in the region of RM2.30 to RM2.70 psf,” says the daughter of SK Brothers founder Charlie Chan.

Chan says she has a friend who bought a unit at 3 Two Square a few months before completion and managed to almost immediately rent out her unit to a pharmaceutical company; for a year now, she has been enjoying rental returns of close to 10% per annum.

Chan says her company’s decision to buy a unit in 3 Two Square was based on factors such as accessibility, matured neighbourhood, track record of the developer, ample car park bays and unique features including its wide frontage lots with a minimum of 28ft for high advertising exposures.

She said Quill 9 at Jalan Semangat which is due for completion soon has BMW as its ground floor tenant. Developed by the Quill Group, it has big floor plates of 20,000 sq ft to 50,000 sq ft with rentals from RM4.30 psf.

“All these new developments are a welcoming change for residents of Petaling Jaya. I have lived in PJ all my life and in the early days there was only Jaya Supermarket and the Right Angle in Section 14,” she adds.

“Today with Jaya One, Jaya 33 and others, residents have more choices in terms of dining and shopping, As more companies relocate their offices here, it has also enabled PJ residents to find jobs nearer their homes. PJ people can now work in PJ and this has helped to reduce traffic jams and improve people’s life,” she adds.

Instead of developing traditional type shop houses, developers have differentiated themselves with new products and concepts.

For example, Jaya 33 has a hyper office concept, VSQ (pronounced as V Square) has corporate offices with serviced apartments, 3 Two Square is marketed as hybrid shop offices while Jaya One in Section 13 (along Jalan Universiti) has a mix of stand alone office block, and restaurants designed in courtyard styles.

The new projects along the Federal Highway include the newly completed PJ8, PJ City and fairly new Menara LYL.

A 6-storey office block with two basement car parks is under construction two lots from Menara LYL. These, along with Menara Axis, Crystal Plaza and the row of motor showrooms (Mercedes-Benz, Chevrolet, Mazda, Ssyangyong, VW, Naza World, Subaru and Ford on the opposite of the highway) are transforming this part of Petaling Jaya into a vibrant office cum retail hub.

BizWeek