El Outlook09

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Complete Property Services

First Pacific Group Services 2009

5.30 am

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PROPERTY MARKET

OUTLOOK 2009 & BEYOND

TTDI / Uptown/Bandar Utama/Damansara Utama

Mont’ Kiara – high end condo & serviced residence

KLCC Vicinity – high end condo & serviced residence

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FIRST PACIFIC VALUERS Started in 1993 Registered Valuers & Registered Estate Agents with

Board of Valuers, Appraisers and Estate Agents Malaysia

V596 & E565 2 Directors – P L Lee & Tuan Haji Mohamad Sarip Saleh Work experience prior FIRST PACIFIC

Real Estate Professional Group (Adelaide); Richard Ellis International (Auckland); Jones Lang Wootton (KL) City Valuers & Consultants Sdn Bhd (KL)


1. INTRODUCTION

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2 main core services Valuation Real Estate Agency

Valuation Mortgages

Buying & Selling

Corporate Valuation

IPO & RTO

Estate Agency Residential

Retail

Commercial & Industrial

Development land

Agriculture & Plantation landComplete Property Services

2. PROFESSIONAL SERVICES

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3. ACHIEVEMENTS


Valuation - from 2004 to date over MYR 1.5 billion Real Estate Agency - 2004 over MYR 100 million Danaharta – Remarkable Success – 300 REA

2002 – 3rd Runner Up 2004 – Best Performance – Champion


• MARKET ANALYSIS ON

• TOP 50 BUILDING TRANSACTIONS &

• TOP 50 DEVELOPMENT LAND TRANSACTIONS FOR THE PAST 3 YEARS


4. TOP 50 TRANSACTIONS

TOP 5 DEVELOPMENT LAND TRANSACTIONS

No Land Transacted Price (RM)

Date

1 Pavillion Site Bukit Bintang 144.5 million Aug’ 05

2 YNH Site * Opp. Concorde Hotel 107.9 million* Feb’ 97

3 Jalan Raja Laut Next to Sogo 100 million Jan’ 04

4 Jalan Kia Peng Next to KL Convention Centre

65 million Aug’ 04

5 YNH Site * 63 million* Jul’ 04


TOP 5 OFFICE BUILDINGTRANSACTIONS

No. Building Transacted Price (RM)

Year

1 Vision City 430 million Jul’ 07

2 KL Sentral, Lot A 404 million Jul’ 07

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*

Proposed CAHB HQ, KL

Menara CIMB

375 million

460 million

Jan’ 04

Dec’ 07

4 Kompleks Daya Bumi

270 million Jan’ 04

5 Empire Tower 270 million Aug’ 07


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5. AMERICAN INVESTMENT RULE 72

Capital Value should DOUBLE in 10 years time at the interest cost of 7.2 %

FV = PV (1+i)n

i % = 7.2 %

Term = 10 yearsEquivalent to

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6. UPTOWN SURROUNDING

PROPERTIES

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DAMANSARA UTAMA 4STOREY SHOP OFFICE

TRANSACTED PRICE

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DAMANSARA UTAMA (LAND AREA 1540-1725 SF)

TERRACE HOUSE

TRANSACTED PRICE

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DAMANSARA UTAMA

SEMI D

TRANSACTED PRICE

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BANDAR UTAMA

2.5 STOREY TERRACE HOUSE

TRANSACTED PRICE

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BANDAR UTAMA

2 STOREY TERRACE HOUSE

TRANSACTED PRICE

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TAMAN TUN DR ISMAIL (LAND AREA 1800-1900 SF)


TRANSACTED PRICE

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TAMAN TUN DR ISMAIL (LAND AREA 1920 SF)

SINGLE STOREY TERRACE HOUSE

TRANSACTED PRICE

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TAMAN TUN DR ISMAIL

2 STOREY STANDARD/ INDIVIDUAL BUNGALOW HOUSE

TRANSACTED PRICE

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TAMAN TUN DR ISMAIL

2 STOREY SEMI-DETACHED HOUSE

TRANSACTED PRICE

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DESA SRI HARTAMAS (LAND AREA 1760 SF)

4 STOREY SHOP OFFICE

TRANSACTED PRICE

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DESA SRI HARTAMAS (LAND AREA 1650-1760 SF)


TRANSACTED PRICE

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7. HIGH END CONDO SUPPLY IN KLANG

VALLEY

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Cumulative Supply of High End Condominiums & Serviced Residences

Units

SUPPLY SITUATION

Since 2006 supply of condo increased about

30,000 units

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EXISTING & FUTURE SUPPLY- KLANG VALLEY

Existing Supply No. of Units Percentages Developments

Ampang Hilir/U-Thant 45 1,999 9% Bangsar 23 2,371 11% City Centre/Bukit Bintang 12 3,378 15% Damasara Heights 9 1,034 5% Kenny Hills 10 617 3% KL Sentral/Brickfields 2 1,000 5% Kuala Lumpur City Centre 29 4,613 21% Mont' Kiara/Sri Hartamas 25 7,059 32% Total Existing Supply 155 22,070 100% Future Supply Ampang Hilir/U-Thant 13 1,769 8% Bangsar 6 832 4% City Centre/Bukit Bintang 11 3,688 17% Damasara Heights 3 433 2% KL Sentral/Brickfields 3 668 3% Kuala Lumpur City Centre 222 6,005 27% Mont' Kiara/Sri Hartamas 20 6,260 29% Pantai/Kerinchi 2 2,288 10% Total Future Supply 80 21,942 100% Grand Total 44,012

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FUTURE INCOMING SUPPLY- KLANG VALLEY

7,169

4,042

6,552

4,180

21,942

29 14 29 8 800

5,000

10,000

15,000

20,000

25,000

2009 2010 2011 2012 Total

Estimated Incoming Supply (Units) No. of Developments

TOTAL

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FUTURE DEVELOPMENTS (Klang Valley) - Supply

2009 2010 2011 2012

(29 Developments) (14 Developments) (30 Developments) (10 Developments)

1 Iringan Hijau 1 Amarin Wickham 1 9 Madge (lot 126, Sec 89A) 1 Vida SOHO

2 Jutawarna Condo (Lot 215, 216 & 84) 2 Brunsfiled Embassy 2 Damai 206 (Lot 206) 2 Platinum Park - Platinum Concierge Suites

3 U-Thant Residence 3 Eminet Garden 3 D'Rapport @ Ampang Ph 1 - Festa 3 Platinum Park - Platinum Residence 1

4 Bangsar Peak (Lot 40395 & 40396) 4 Gallery @ U-Thant 4 Karana Residency 2 4 Platinum Park - Platinum Residence 2

5 Ken Bangsar Serviced Residences 5 Regalia @ Sultan Ismail 5 Lot 19, Section 89A (Bandar Park) 5 St. Mary Project

6 One Menerung 6 Hampshire Place 6 Ssangyong Residences 6 The Four Seasons Place

7 Chearwater Residence 7 The Crest 7 D9 Bangsar 7 Kiara 3

8 231 TR 8 D'Tiara 8 Gaya Bangsar 8 The Park Residences - Phase 2

9 Bintang Fairlane Residence 9 Gateway Kiaramas (Lot 2375, K5) 9 Suasana Bangsar 9 The Park Residences - Block Acacia

10 Taragon Putri KL - Residences Tower 10 Palazzio Sunway 10 Zephyt Point 10 The Park Residences - Block Begonia

11 The Pavilion Residence 11 Verve Suites 11 Exquisite Skyline by UMLand

12 163 Suites 12 Matahari 12 Millennium Residence

13 Ampersand @ Kia Peng 13 Lumina Kiara 13 Swiss Garden Residence

14 Hampshire Residences 14 Twins @ Damansara Heights 14 Cap Square Residence 2

15 Idaman Residence 15 12 Kia Peng

16 One KL 16 51 Gurney

17 Zehn Bukit Pantai 17 Ritz-Carlton Residences

18 Kiara 1888 18 Menara DNP

19 Mont' Kiara Meridin (MK23) 19 Regent Hotel & Residences

20 One Residency 20 Setia Sky Residence

21 Solaris @ Dutamas (Park/Boulevard/Urban) 21 The Pearl @ KLCC

22 Seni Mont' Kiara 22 Residential Mutiara

23 MyHabitat 1 & 2 23 11@Month' Kiara (MK11)

24 633 Residency (Lot 633, Section 55) 24 Duta Kingsbury Park - Tower Residences

25 10 Mont' Kiara (MK10) 25 (Parcel K3 Sri Hartamas)

26 Casa Kiara 2 - 11/2009 26 Kiara 9 (Lot 1897)

27 Ceriaan Kiara (Radiant Mont' Kiara) 27 MK28 - Lot 1870 & 1871

28 Tiffani by Izen 28 One Kiara

29 The Troika 29 Sunway Vivaldi

30 Panorama @ KLCC

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8. SUMMARY OF NEW LAUNCH, UNDER CONSTRUCTION AND

UPCOMING CONDOMINIUM

DEVELOPMENTS WITHIN THE MONT’ KIARA AREA

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COMPLETED

Development Name No. of Storey/ Blocks

1. Kiaraville 1 block 28 storey & 1 block 33 storey

2. Hijauan Kiara 7 blocks

3. Kiaramas Ayuria 3 blocks of 35 storey towers

4. Kiara Banyan 1 block of 33 storey tower

5. Kiara Designer Suites 1 block of 29 storey tower

6. i-Zen@Kiara I 2 bloks of 35 storey towers

7. i-Zen@Kiara II 2 bloks of 35 storey towers

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Development Name No. of Storey/ Blocks Developer’s Name

1. Changkat View 4 Towers Plenitude

2. Kiara 1888 2 buildingss of 9 and 33 storey

Mitraland Group

3. Ceriaan Kiara 2 blocks of 28 and 29 storey towers

YNHB

4. Tiffani by i-Zen 2 blocks of 26 and 38 storey towers

Aseana Ireka

5. The 1 blocks of 33 storey

Bukit Kiara Properties

6. Solaris@Dutamas Commercial

Sunrise Group

7. Windsor & Waldorf Sri Hartamas -

Mayland

COMPLETING SOON

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UNDER CONSTRUCTION


1. Palazzio Sunway 2 blocks 20 storey each

Suncity Berhad

2. Matahari Luxury Condos@ Desa Sri Hartamas

- Maymont

Development SB

3. The Icon Mont’ kiara 1 block of 27 storey tower Mah Sing Group

4. Amverton Rise 2 blocks of 18 qand 30 storey tower

A & M Realty

5. The Verve Suites Phase II - IV - Bukit Kiara Properties

6. Casa Kiara II 1 block of 34 storey tower Suncity-Dijaya

7. Gateway Kiaramas 2 blocks of 11 and 30 storey Quest

8. ’ Kiara 2 towers of 40 storey each Aseana Ireka

9. ’ Kiara 2 blocks of 28 and 16 storey tower

Aseana Ireka

10. MK Meridian 1 blocks of 31 storey tower

Sunrise Group

11. 10@Mont’ Kiara 2 blocks of 40 and 43 storey tower

C

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TO BE LAUNCHED


1. Lumina Kiara 3 blocks of 23, 29 and 52 storey towers

ECH Development & Mgmt SB

2. One Kiara 2 blocks of 38 and 32 storey towers

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3. Kiara 9 1 block of 41 storey tower Mitrajaya

4. 3 blocks of 23, 42 and 42 storey towers

YNHB

5. Duta Kiara 163 Suites 3 blocks of 23, 42 and 42 storey towers

YNHB

6. Crest Builder’s ’ Kiara - Crest Builder

7. HR United’s Mont Kiara - -

8. 11@ ’ Kiara 3 towers Sunrise Group

9. MK 20 - Sunrise Group

10. MK 28 2 towers Sunrise Group

11. 10@Mont’ Kiara 2 blocks of 40 and 43 storey tower

C

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TO BE LAUNCHED


12. ’s Commercial MK -

Sunrise Group

13. ’s Solaris@ Dutamas Phase II Office Tower

- Sunrise Group

14. Aseana Ireka’s 2nd Phase SENI Mont’ Kiara

- Aseana Ireka

15. Sime Darby’s Mont Kiara - Mayland

16. Asia Quest’s Kiaramas Danai@Mont’ Kiara

- Quest

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9. INCOMING SUPPLY OF CONDO WITHIN

KLCC AREA & MONT’ KIARA

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ESTIMATED INCOMING SUPPLY(No. of Units)


Year KLCC Mont’ Kiara

2009 1,740 2,980

2010 465 1,470

2011 2,000 1,650

2012 1,800 160

Total 6,005 6,260

KLCC AREA & MONT’ KIARA

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10. MONT’ KIARATRANSACTED PRICE

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MONT’ KIARA- TRANSACTED PRICE

MONT KIARA

CASA KIARA II CONDOMINUM

TRANSACTED PRICE(NEXT TO KIARA DESIGNER SUITES)

http://www.ahyer.com/real-estate-11/10438-74-xlwcn.jpg

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MONT KIARASUITES

KIARA DESIGNER

TRANSACTED PRICE(NEXT TO GARDEN INTERNATIONAL

SCHOOL)


http://thinkproperty.com.my/realestate/components/com_propertylistings/thinkproperty_images/th/558c0c1bd62ca45214d0696ac3964db2.jpg

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MONT KIARACONDOMINIUM

LA GRANDE KIARA

TRANSACTED PRICE(NEXT TO DUTA TOLL/SOLARIS)


http://thinkproperty.com.my/realestate/components/com_propertylistings/thinkproperty_images/th/b641f3764291855fa8db34b781a3825e.jpg

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LANAI KIARA

TRANSACTED PRICE(NEXT TO PENCHALA LINK)


http://www.geocities.com/vistakiara/LanaiKiara.JPG

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SUTERA/AYURIA

TRANSACTED PRICE


http://realestate.net.my/photoclass/data/8/3708KiaramasOV.JPG

http://thinkproperty.com.my/realestate/components/com_propertylistings/thinkproperty_images/th/423326625777931458aa067244e532f2.jpg

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PRICES IN MONT’ KIARA


Residential Property Launch Prices(RM psf)

Selling Prices(RM psf)

Mont’ Kiara Damai 350 620

Mont’ Kiara Aman 400 580

I-Zen Kiara II 350 480

Kiara Designer Suites 340 400

Kiaraville 425 500

Verve Suites 575 770

Seni Mont’ Kiara 689 740

Kiara 9 700 780

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Sunway Vivaldi 2,600 sq. ft to 3,500 sq.ft Above RM 2,500,000 per unit Completion on Feb 2011 228 units

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Seni Mont Kiara•2,347 sq. ft to 3,541 sq.ft•RM 1,790,00 to RM 2,818,000•RM 763 psf to RM 796 psf•Completion on August 2010•605 units

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Hijauan Kiara 2,090 sq.ft to 3,792 sq.ft RM 1,400,000 RM 669 psf Current Asking Price RM600-650 psf 188 units Complication on early 2008j

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Verve Suites 462 sq.ft to 932 sq.ft RM 400,000 to RM 988,000 RM 865.80 psf to RM 1,060 psf 399 units Completion on 2012

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Kiara 1888 Condo & Villas 1,238 sq.ft to 3,983 sq.ft RM 567,970 to RM 2,051,760 RM 458.78 psf to RM 515.13 psf 182 units Completion of end 2008

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10 @ Mont Kiara 3,478 sq.ft to 7,500 sq.ft RM 1,778,000 to RM 5,043,000 RM 511 psf to RM 672 psf 332 units Completion on Sept 2007

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Casa Kiara II @ Mont Kiara 1,375 sq.ft to 1,574 sq.ft RM657,191 to RM 1,647,366 RM 478 psf 206 units Completion on Nov 2009 Selling Price RM480 psf

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Matahari Luxury Super Condos 3,909 sq.ft to 10,823 sq.ft RM 3,107,666 RM 850 psf to RM 1000 psf 158 units Completion on March 2010

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Palazzio – SOLD OUT 2,507 sq.ft to 5,327 sq.ft RM 2,219,000 RM 840 psf 160 units Completion on 2010

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11. KLCC AREATRANSACTED PRICE

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KLCC AREA- TRANSACTED PRICE

KLCC VICINITY STONOR PARK

Launch Price RM500 psfAsking Price RM980 psf

http://images.google.com.my/imgres?imgurl=http://www.iproperty.com.my/property/realtors/images/240/UP73241.jpg&imgrefurl=http://www.iproperty.com.my/property/listing.asp?pid=73241&usg=__hNKl1zqKcROmrU_m2K234rwZkVI=&h=237&w=240&sz=11&hl=en&start=12&tbnid=MVFMMIYiXnqkOM:&tbnh=109&tbnw=110&prev=/images?q=STONOR+PARK&gbv=2&hl=en

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KLCC VICINITY MARC

TRANSACTED PRICE


http://images.google.com.my/imgres?imgurl=http://www.iproperty.com.my/property/realtors/images/240/UP73241.jpg&imgrefurl=http://www.iproperty.com.my/property/listing.asp?pid=73241&usg=__hNKl1zqKcROmrU_m2K234rwZkVI=&h=237&w=240&sz=11&hl=en&start=12&tbnid=MVFMMIYiXnqkOM:&tbnh=109&tbnw=110&prev=/images?q=STONOR+PARK&gbv=2&hl=en

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KLCC VICINITY K RESIDENCE



http://images.google.com.my/imgres?imgurl=http://www.luxist.com/media/2006/02/kresidence.jpg&imgrefurl=http://www.luxist.com/2006/02/13/the-k-residence-in-kuala-lumpur/&usg=__x4ccIX_SmPivVM1CyAQTas-4PQY=&h=290&w=200&sz=56&hl=en&start=6&tbnid=XpyU3GKK4Y5IRM:&tbnh=115&tbnw=79&prev=/images?q=K+RESIDENCE&gbv=2&hl=en&sa=X

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KLCC VICINITY DUA RESIDENCY



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KLCC VICINITY PAVILION



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KLCC VICINITY 3 KIA PENG

TRANSACTED PRICE


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The Troika 2045 sq ft to 9053 sq ft RM1,881,400 to RM8,328,760 RM 920 psf 164 units Completion on 2009 Selling Price above RM1,400 psf

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Binjai Residency 2100 sq ft to 2326 sq ft RM1000 psf to RM1300 psf 100 units Completion in 2007 Selling Price RM900 to RM1,100 psf

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K-Residence 1400 sq ft to 12,000 sq ft RM700 psf to RM1,000 psf 188 units Completion on 2008 Selling Price RM1,100 to RM1,200

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Avare 3600 sq ft to 5700 sq ft RM3,970,000 to RM10,900,000 RM800 psf 78 units Completion on 2008 Selling Price RM1000 to RM1,100

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KL Pavilion 1234 sq ft to 7174 sq ft RM975 psf 368 units Completion on 2009 Selling Price RM1200 to RM1300 psf

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The Binjai at KLCC 2213 sq ft to 3700 sq ft RM1000 psf onwards 171 units Completion on 2009

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American International Group Inc (AIG)1.10 unchOpen: unch High: unch Low: unchPrevious Close: 1.10 Volume: 1,919,050 After Hours: 1.03 -0.07 / -6.36% Vol. 1,850,936Eastern Time

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Citigroup Inc (C)2.81 unch REAL ESTATE INVESTMENTS Vs STOCK MARKETOpen: unch High: unch Low: unchPrevious Close: 2.81 Volume: 2,408,069 After Hours: 2.70 -0.11 / -3.91% Vol. 2,346,333Eastern Time

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PRICES IN KLCC


Residential Property Launch Prices(RM psf)

Selling Prices(RM psf)

Stonor Park 500 980

Dua Residency 500 850

Park Seven 750 1,350

Pavilion Residences 975 1,300

Ampersand@Kia Peng 820 1,200

Panorama 1,250 1,400

Regent Residence 2,500 -

Binjai on The Park 2,800 -

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12. CURRENT REAL ESTATE

MARKET SCENARIO

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Due to:1. External factors – global economy2. Negative sentiment from Global RE market3. US & European economic crisis prolongs4. Incoming over supply situation 5. Foreign investors – not appearing

RE market → prices – plateau, shows slim signs of

RECOVERY → overall still facing weak market ahead → sales volume down → prices & rental expected to level off/decline

furtherComplete Property Services

MARKET OUTLOOK FOR HIGH END CONDO

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NPL cases expected to increase further Proclamation sale/Auction cases have been increasing in the last 12 months NPL cases – First Pacific valued RM285.0 mil for

Banks Even KLCC and good location properties auctions eg. TTDI CSH2 → 13 bidders → Reserved Price RM945,000.00 → Sold for RM1,215,000.00


FORECLOSURE CASES

SOME OF THE ABORTED DEALS


1 Location : Development Land @ Jalan Yap Kwan Seng

Vendor : E&O Bhd

Purchaser : Magna Universe Sdn Bhd

Transacted Price : RM84.3mil

2 Location : 2 Factories @ Senai, Johor

Vendor : Well-Built Holdings Sdn Bhd

Purchaser : Axis REITS

Transacted Price : RM27.0 mil

3 Location : Kenny Heights Land 25 acres

Vendor : Dutaland Bhd

Purchaser : Stonehage Westcity Property Fund Ltd

Joint Venture Partner : Merrill Lynch (Asia Pacific) Ltd

4 Location : Menara Citibank, @ Jalan Ampang

Vendor : Invertin Sdn Bhd

Purchaser : IOI Corp Bhd

Transacted Price : RM586.73 mil

Forfeited Deposit : RM73.36 mil

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5 Location : Mont’ Kiara 20 Commercial Space (retail office & serviced apartments)

Vendor : Sunrise Bhd

Purchaser : Malaysia Commercial Development Fund (MCDF)

Transacted Price : RM767 mil (mutually terminate)

6 Location : Shoplot Summit City USJ

Vendor : SYE Resource Bhd

Purchaser : AM Ara REIT Managers Sdn Bhd

Transacted Price : Sell & Leaseback @ RM8.0 mil

7 Location : JV to build Laman Duta

Vendor : Warta Development Sdn Bhd

Purchaser : IJM

Transacted Price : JV aborted

8 And many more….

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MARKET OUTLOOK 2009 & BEYOND

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RE Prices

High End Condo 5% to 10%Situation – just got out from the ICU

suffered from Heart Attack, - still weak&- recuperating state

Hopeffuly - No Re attackComplete Property Services

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RE Market Plus Points1. BLR is low Interest decline ↑ purchase affordability2. High End Condo Value and Office Value are much lower than most other cities in the regions3. Malaysia Property Incorporated - promoting Malaysia as Property Investment destination - having road shows to : - South Korea - China - Japan - Britain - India Complete Property

Services

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Investors adopt cautious movewait and see attitudeSome taking advantage of GOOD buy

GOLDEN RULE : EVEN THE BAD TIME CAN HOLD GOLDEN OPPORTUNITIES FOR INVESTORS

IF THEY BUY RIGHTComplete Property Services

CONCLUSION

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Complete Property Services First Pacific Group Services

2009

The End

THANK YOU

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