Building Investment (Mar - Apr 2015).pdf
As our magazine grows to become more of a regional publication, we will be bringing you even more news from around the region and beyond. e biggest change in Malaysia was the implementation of Goods and Services Tax on 1 April 2015 which impacted on property prices, raising costs by up to 2.6 per cent. As an oil-exporter, it is likely to see slower growth due to low oil prices and GST dampening private consumption. Singapore will continue to see property prices falling due to government cooling measures while both Indonesia and Philippines are expected to show strong growth even as China slows its pace to 6.7 per cent growth (World Bank). Overall, growth outlook for the region is expected to hover at 6.4 per cent for 2015 (Asian Development Bank). As we approach the second quarter of 2015, we will continue to work even harder to ensure that our magazine reaches a wider audience as we explore the various distribution channels for the electronic version of our magazine – more on these will be announced in later issues. Meanwhile in this issue, we highlight projects like the futuristic development called Harbour City in the historic city of Melaka (front cover feature); Sherwood Kinrara South residential project in Selangor; Epic Suites also in Selangor; and developer SP Setia’s new corporate headquarters in Shah Alam. In our features section, we report on Malaysian Timber Industry Board’s initiative to promote Malaysian-designed furniture; and market reports from some of the expert analysts like WTW and REHDA. Elsewhere in the magazine, we bring you a roundup on market news and updates on products and services while in the Design Feature section, you can read about some of the exciting designs from US and Canada. If you have suggestions to oer or events that you would like us to cover, please feel free to drop us a note.
As our magazine grows to become more of a regional publication, we will be bringing you even more news from around the region and beyond. e biggest change in Malaysia was the implementation of Goods
and Services Tax on 1 April 2015 which impacted on property prices, raising costs by up to 2.6 per cent. As an oil-exporter, it is likely to see slower growth due to low oil prices and GST dampening private consumption.
Singapore will continue to see property prices falling due to government cooling measures while both Indonesia and Philippines are expected to show strong growth even as China slows its pace to 6.7 per cent growth (World
Bank). Overall, growth outlook for the region is expected to hover at 6.4 per cent for 2015 (Asian Development Bank).
As we approach the second quarter of 2015, we will continue to work even harder to ensure that our magazine reaches a wider audience as we explore the various distribution channels for the electronic version of our magazine
– more on these will be announced in later issues.
Meanwhile in this issue, we highlight projects like the futuristic development called Harbour City in the historic city of Melaka (front cover feature); Sherwood Kinrara South residential project in Selangor; Epic Suites also in
Selangor; and developer SP Setia’s new corporate headquarters in Shah Alam.
In our features section, we report on Malaysian Timber Industry Board’s initiative to promote Malaysian-designed furniture; and market reports from some of the expert analysts like WTW and REHDA. Elsewhere in the magazine,
we bring you a roundup on market news and updates on products and services while in the Design Feature section, you can read about some of the exciting designs from US and Canada.
If you have suggestions to oer or events that you would like us to cover, please feel free to drop us a note.
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News & EventsTropicana unveils The Residences with itsunique take on modernist luxuryDesigned by renowned architectural firm Skidmore, Owings & Merill, The Residencessits on the last remaining premium freehold land in Kuala Lumpur city centre.PROPERTY DEVELOPER TROPICANA Corporation Berhad(“Tropicana”) unveiled its most ambitious development to date,The Residences. Launched simultaneously on 21 <strong>Mar</strong>ch <strong>2015</strong> acrosssix countries – Malaysia, Singapore, Taiwan, China (ChengDu& Shanghai), Indonesia and Hong Kong – this internationaldevelopment is situated above W Hotel, offering discerning andwell-travelled purchasers an opportunity to own a piece of luxury onthe last few parcels of premium freehold land in Kuala Lumpur CityCentre (“KLCC”).The main launch of The Residences was held at the chic <strong>Mar</strong>ini’son 57, Malaysia’s highest rooftop bar that is located intimately closeto the Petronas Twin Towers KLCC. The venue offers the best 360°panoramic views of the Kuala Lumpur city skyline. This distinctsetting provides Tropicana the perfect opportunity to furthermesmerise its guests by presenting the incredible 3D projectionmapping that showcases the development’s chic and unique take onmodernist luxury. In recognition of this brilliant 3D presentation,Malaysia Book of Records has awarded Tropicana the Biggest OutdoorHD Projection Mapping Screen in Malaysia.Strategically located in the heart of Kuala Lumpur’s centralbusiness district, at the original Millionaires Row, The Residencesis just two minutes’ walk to the famous Petronas Twin Towersbuilding. The development is in close proximity to Malaysia’s premiercommercial and shopping hubs, educational institutions (bothlocal and international), state-of-the-art medical centres and highlyacclaimed recreational clubs and local attractions such as KL Tower,China Town, Central <strong>Mar</strong>ket, and the KLCC Park.Dato’ Yau Kok Seng Group CEO of Tropicana (third from left) receivingMalaysia Book of Records Award for the Biggest Outdoor HD ProjectionMapping Screen in Malaysia. Present was Tan Sri Datuk Danny Ooi(second from left) Founder and Managing Director of the Malaysia Bookof Records together with his team from Malaysia Book of Records.With an approximate gross development value of RM800 million,The Residences is sited on 1.28 acres of freehold land and offers fourtypes of swanky layouts with built-up area ranging from 710 to 2,973square feet. Rising 55 storeys skywards, The Residences consists of353 units of luxurious, fully-furnished serviced residences that areuniquely created; mixing cutting-edge design with local influences.The Residences occupies the 25th to 53rd floors of the building,sharing spaces with the hip and upscale W Hotel below, whilstthe rooftop facility floor offers the perfect place to chill with anunobstructed view of the cityscape.Designed by the celebrated architectural firm of Skidmore,Owings & Merrill (“SOM”), The Residences is earmarked for globalrecognition; joining the ranks of other well-known SOM projectssuch as Dubai’s Burj Khalifa and New York’s One World TradeCentre, The Residences is set to be an iconic landmark in KLCC. TheResidences is also forecasted to be a serious contender for expatriateswanting to make an investment in Malaysia. With an increasingappreciation of capital in the designated area, analysts have predictedthat The Residences will fetch in a steady traffic of those wanting torent a space with close proximity to neighbouring office areas thathouses global companies.The Residences will be managed by Tropicana CorporationBerhad, a pioneer in resort-style home concepts with a strong trackrecord in high-end residential and commercial developments. Theproject is expected to be completed in 2017 and has been categorisedas a green building with resource and energy-efficient features indaily operations like powering lifts and other utilities. More information at www.tropicanatheresidences.com.28 <strong>Building</strong> & <strong>Investment</strong> | www.b-i.biz
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