Special Edition Newsletter: Dhaka

FACILITATING & PROMOTING INVESTMENT FOR MALAYSIAN REAL ESTATE | malaysiapropertyinc.com

DHAKA EDITION 2012

SPOTLIGHT A “New High” for Malaysian FDI ...3

OPINIONAn Expat Destination ...4

SPECIAL PREVIEWBandar Sunway: A Model Worthy of Recognition ...6 Mont’ Kiara: A Vertical City ...11 Iskandar Malaysia: A Mega City in the Making ...15

FAQ SHEETGuidelines to invest in Malaysian Real Estate ...17

Sunway Integrated Properties Sdn. Bhd.Sunway Integrated Resort City is a successful “Resort-in-the-City” that attracts 35 million foreign and local visitors annually. Complete with residential units, a shopping mall, hotels, lagoon and themed park. Sunway Integrated Resort City is also home to sought after Monash University Malaysia, Sunway University, Sunway International School and Sunway Medical Centre.

Ireka Property Ser vices Sdn. Bhd.The Ireka Group is a boutique developer with a focus in Mont Kiara, the expatriate enclave of Kuala Lumpur. Mont Kiara is located 10 minutes drive to KLCC and has 3 international schools. The Ireka Group developed, owned and managed The Westin Kuala Lumpur before it was sold to an international investor.

UEM Land Holdings BerhadUEM Land, is undertaking the development of Nusajaya, Johor that will benefit from the spill over effects from Malaysia’s affluent neighbour, Singapore. Integrated and comprehensive, Nusajaya’s Educity has global colleges and universities such as New Castle Medical (NuMed), Marlborough College, University of Reading and Raffles College. Legoland is scheduled to open at the end of 2012.

Malaysia Property Inc (MPI) is a Malaysian Government initiative that acts as a bridge between institutional, corporate and private investors to real estate investment opportunities in Malaysia. MPI works to fast-track retail interest and commercial partnerships by connecting prospective foreign investors with Malaysian industry players.

A non-profit government agency under the purview of the Economic Planning Unit (EPU), MPI is funded by the government of Malaysia. In line with improving data transparency on the Malaysian real estate sector, MPI also publishes a monthly intelligence report on the current Malaysian investment climate and latest developments.

MPI’s debut event to cater to the Bangladeshi homebuyer market is its first “MALAYSIA PROPERTY EXHIBITION” in Dhaka. This event will be held at Pan Pacific Sonargoan Dhaka on 24th, 25th and 26th May 2012, from 10:00am to 07:00pm.

MPI brings a showcase of 3 of Malaysia’s exciting property developers and their projects:-

• SunwayIntegratedPropertiesSdn.Bhd• IrekaPropertyServicesSdn.Bhd.• UEMLandHoldingsBerhad

This event will also discuss supporting sectors such as the Malaysia My Second Home (MM2H) programme, tourism, education, healthcare, legal, finance and taxation.

DEVELOPER:

ORGANISER: IN COLLABORATION WITH:

Introducing Malaysia Property Incorporated

2 real estate malaysia Dhaka Edition 2012

important foreign direct investor overtaking the place of US. In the past, USA, Singapore and Japan contributed more than a-quarter of the total FDI to Malaysia for the period of 2000 to 2010.

Investment inflows have been channeled mainly into the manufacturing, services and oil and gas sectors. Brazil Vale Group, the world’s second largest mining company, Agilent Technologies and Infineon Technologies are among the foreign companies that expanded their operations in Malaysia in 2011. Looking at some notable investments by the UAE and Chinese companies recently, the real estate sector will also play an important role as a foreign direct investment contributor moving forward.

The government’s continuous implementation of the ongoing Economic Transformation projects will be a catalyst to induce more FDI inflows to the country. As a result of these efforts, domestic investments in 2011 continued to increase and accounted for 55.4% of the total approved investments.

By state, Sarawak (RM14.3 billion) attracted the most approved investments followed by Penang (RM14bn) and Sabah (RM13.68 billion). In terms of realized investments, the nation had surpassed targets (RM83billion) for realized private investments by achieving RM94billion in 2011.

The full report of The 2012 A.T Kearney FDI Confidence Index® is available from http://www.atkearney.com/

Crisis, in the FDI context, strikes in many forms. Investment values could fall marginally if not drastically or existing investments made may not expand as much as initially agreed upon. At its worst, approved projects may be put on hold, delayed or cancelled.

Global FDI inflows typically decline post-crisis, exacerbating downturns in global or regional economies. This pattern recurs post-AFC 1997/98 for regional economies in Asia as well as post-global financial crisis. The declining pattern of global net FDI inflows in the aftermath of the global financial crisis is seen in Figure 4 and these inflows have yet to recover to levels prior to the crisis. In Malaysia’s case, the crisis caused a sharp deterioration of 65.5% from 2008 to 2009.

These numbers reflect a strong vote of confidence by investors. This positive investor sentiment is captured in A.T. Kearney’s FDI confidence index survey that raised Malaysia’s ranking by 11 positions to reach 10th place, an improvement from 21st position in 2010. The confidence factor can be attributed the fact that Malaysia remains disaster- free and has not been affected by hurricanes, earthquakes, floods or the cold wave that has affected China and Europe. Moreover, the stigma that investors once had of Malaysia in implementing capital controls during the Asian Financial Crisis is no longer seen as a “taboo” as IMF now endorses the use of capital controls to stabilize heavy currency outflows.

According to a recent press release statement by the International Trade and Industry Minister, the manufacturing sector accounted for half the FDI inflow (50.1%), followed by the services sector (27.3%) and mining & quarrying at 22.2%. Asian countries accounted for 72% of FDI inflows, with Japan topping the list (RM10 billion), followed by South Korea (RM5.1 billion) and Singapore (RM2.47billion). South Korea has become an

Source: DOSM, Bank Negara, MPI Research

Malaysia is back in the international

investors’ radar - moves up 11 notches and

ranks within top 10 in an FDI confidence index survey by A.T

Figure 1: Global Foreign Direct Investment (FDI) inflows, 2005-2010

Source: United Nations Conference on Trade and Development (UNCTAD)

2005

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Figure 2: Malaysia Foreign Direct Investment (FDI) inflows, 2000-2011

Y2K Bubble bust & Sep 11

terrorist attact crisis

2008/09 subprime crisis

Support level

Resistant level

RM32.9b

The year 2010 proved to be a recovery point for most countries including Malaysia, with a sharp V-shaped rebound amounting to close to US$10 billion of FDI inflows last year.

Malaysia staged a remarkable spurt in FDI inflows amounting to RM33 billion in 2011, eclipsing the pre-crisis level of RM28.1 billion in 2007. The achievement was remarkable because not only did the FDI inflows into Malaysia exceed its pre-crisis high while other countries are still lagging behind, the Malaysian economy has been given a headstart with strong higher foreign private investments inflows driving its growth into higher value-added products and services at a time when its exports may be slowing due to the global scenario.

A “New High” for Malaysian FDI

By Hazrul Izwan

FDI IS A KEY COMPONENT OF THE NATION’S GROWTH ENGINE


Malaysian ringgit has surged 8% against the U.S. dollar over the past year. According to Malaysian Institute of Economic Research in their 2Q11 Malaysian Economic Outlook report, MYR/USD is projected to average around 3.00 in 2011 and improving macroeconomic fundamentals will see an average MYR/USD of 2.95 in 2012.

Malaysia subsidises petrol prices for its local consumers. However, to better manage the country resources, it is slowly trying to reduce subsidies of various items including petrol and looking at ways to further improve public transportation system to reduce impact on consumers. Nonetheless, with current subsidised petrol and no congestion charges, transportation cost has been kept minimal.

Property prices in Kuala Lumpur city centre is considered affordable compared to neighbouring countries’ capital cities. As reported in National Property Information Centre’s 2010 Property Market report, a condominium in Bangsar is transacted at about RM611 per sq ft in the city centre while the rental average of the same unit is RM5,500 per month.

With about four million sq ft of office space located in the Golden Triangle slated to complete by the end of 2014, Kuala Lumpur aspire to attract 100 multinational companies (MNC) by year 2020. Malaysia is wooing MNCs to set up regional operations here to create dynamism in the service industry and enhance the local economy. Cost of living is one of the most important factor expatriates look at when planning to relocate and live.

Figure 3: Cost of Living Index by City as at July 2011

Cost of Living Index

Source: www.numbeo.com

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Base City: New York = 100 Driven by economic growth, it is inevitable that cost of living will continue to rise with time. To continue being a viable business destination, Malaysia is working hard towards making Kuala Lumpur one of the top livable cities in the world.

Plans are underway to achieve this through economic transformation initiatives such as public transportation system revamp with the construction of 150km of an initial MRT line to supplement existing LRT and Komuter rail services which will begin this year at an estimated cost of RM36.6 billion. It is through these initiatives and more that rising cost of living could sustain and remain attractive to prospective MNCs.

Kuala Lumpur’s cost of living is ranked 104 by consulting fim Mercer, indicating a relatively low cost of living compared globally. Cost of Living Index as characterized by Mercer takes into account 200 odd items constituting a basket of goods including property-based commitment, household expenses, transportation cost and currency fluctuation to reflect a fair expatriate compensation package.

Inflationary pressures are plaguing many Asian cities and Malaysia is not spared. Consumer prices rose 3.5% in June 2011 from a year earlier, the most since March 2009. Malaysian ringgit has also strengthened against the US dollar to an average of In July, the ringgit exhibited a mixed performance. In recent months, ringgit has strengthened against the US dollar, the euro and Chnese renminbi.

140

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94.57

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City Country March 2011 March 2010 Change in Rank Rank Rank

Tokyo Japan 2 2 0Singapore Singapore 8 11 +3Hong Kong China 9 8 -1Rio De Janeiro Brazil 12 29 +17Sydney Australia 14 24 +10London United Kingdom 18 17 -1Seoul South Korea 19 14 -5Beijing China 20 16 -4Paris France 27 17 -10New York United States 32 27 -5Prague Czech Republic 47 47 0Kuala Lumpur Malaysia 104 138 +34

Figure 4: Mercer’s Cost of Living Ranking by Selected CIty, 2010 and 2011

Source: Mercer

Figure 5: Index of Ringgit Performance against Major Trade Partners*

Source: Bank Negara MalaysiaNote: *Currencies in the index: USD, CNY SGD, JPY, EUR , Each currency carries equal weight

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MYR appreciation

An Expat Destination

By Afiq Syarifuddin

DESPITE RISING INFLATION AND RINGGIT APPRECIATION, THE COST OF LIVING IN MALAYSIA IS STILL LOW AS COMPARED TO OTHER COUNTRIES IN THE REGION


Thirty years ago, Bandar Sunway was an abandoned mining land on the periphery of the city. It has now evolved into a township with various development clusters that have sprung over the years. Gravitating away from the city centre this 800 acre development enclave presently has two leading universities, hospital, hotels, one of the country’s largest shopping malls and a theme park. All this amenities and entertainment outlet provides an integrated lifestyle living.

Flanked by 4 major highways, Bandar Sunway has a large catchment area with over 50,000 residents and there are more than 7,000 residential, commercial and light industrial units surrounding the development.

ResidentialThe latest residential development in Bandar Sunway is the 178 acre South Quay development. It comprises a mix of bungalows and luxury condominium developments surrounding a 28 acre lake. The 77 units bungalow development, ‘BayRocks’, has a build up area of 6,400 sf to 6,700sf with prices ranging from RM 708psf to RM 923psf.

sufficient township. Approximately 20% of the total properties are owned by foreigners.

Office and Industrial Presently there is only one office building, Menara Sunway, which was built in 1993. This 19 storey building has a net lettable area of 268,978 sq ft and a competitive rental rate of RM4.50 psf. Upcoming grade A office building in this area is a 27 storey tower, The Pinnacle and 18 storey office tower which is part of the Sunway Pyramid extension. This office towers are scheduled for completion by end 2013 and will supply 780,000 sq ft net floor area more space into the office market.

The industrial development area covers 3.2 million sq ft space of factory lots built in the early 90’s. There three types of factory lots available; Terrace Factory 25’ x 80’, Terrace Factory 30’x 80’ and Semi-Detached Factory 65’x150’. Over the years the price psf of the factory lots has increased almost 75%.

LeisureThe highlight of the Bandar Sunway development is Sunway Pyramid shopping mall and the Sunway Lagoon theme park. Sunway Pyramid Shopping Mall is the first shopping and entertainment theme mall in Malaysia which was opened back in 1997. It has 1.7 million sq ft of floor area housing over 800 units of retail outlets. The rental rate fetches an average of RM10psf.

Sunway Lagoon theme park opened in 1992. There are 88 acres of parks to explore namely Water Park, Amusement Park, Wildlife Park, Extreme Park and Scream Park. It draws close to 35 million visitors both local and foreign every year.

(continued next page)

The luxury condominiums, A’marine and LaCosta are commanding prices from RM900,000 onwards. The new launches take up rate hovers around 70%. Residential properties command a higher price due to thematurity of the township and strong brand image of the developer, Sunway City Berhad. Capital appreciation of properties in this area has been growing at a steady rate of 25%-35% over 5 years. Sunway South Quay is culmination of 30 years of development and effort into perfection. It jells together all the existing developments into a complete self

Project/ Area Price Take up Details Development (acres) Range (RM) rate

BayRocks 21.63 4.7 million 75% 77 units Luxury Bungalows onwards

A’marine 3.45 0.9 - 1.2 million 80% 242 unitsCondominiums

LaCosta 5.39 0.9 - 2.4 million 70% (Phase 1 - 2 blocks) 377 unitsCondominiums 30% (Phase 2 - 2 blocks launched in July ‘11)

Figure 6: New Residential Developments

Source: Company data

Bandar Sunway has a large catchment

area with over 50,000 residents and there are more than 7,000

residential, commercial and light industrial

units surrounding the

BayRocks Luxury Bungalows

Bandar Sunway:

A Model Worthy of Recognition

By S.Sulocana

BANDAR SUNWAY OFFERS A MIX OF EDUCATION, SHOPPING, HEALTHCARE, LEISURE AND HOSPITALITY ALL IN ONE


(from previous page)

Education & HealthcareThere are two universities located here, Sunway University and Monash University Sunway campus. Sunway University and Monash University was opened in 1987 and 1998 respectively. These universities have over 11,000 students, out of which 30% are international students from more than 80 countries. Sunway International School offers programmes for grades7-11 programmes which are taught by fully Canadian certified teachers. It currently has almost 16,000 students from 80 different countries.

Sunway Medical centre, a private healthcare offers specialised and tertiary care services. Equipped with state of the art medical facilities, it has a total of 350 beds, more than 100 consultation suites, 12 operation theatres.

Hospitality5-star Sunway Resort Hotel & Spa and 4-star Sunway Pyramid Tower Hotel and Pyramid Suites & Studio offer comfortable stay for the burgeoning tourist visiting the theme park. This 1,234 room hotels has a high occupancy rate of 70%.

Moving Forward Bandar Sunway is also been earmarked as a leisure and entertainment cluster under the Economic Transformation Program. As such, more developments can be expected happening notably in the leisure segment. Remaining land bank in Bandar Sunway is about 18 acres with a gross development value of up to RM5.8 billion mostly earmarked for real estate investment projects like The Pinnacle, extension of Sunway Pyramid shopping mall, residences, retail outlets and shop offices.

Like a jigsaw puzzle everything fits together in creating a sustainable and self sufficient township worthy of recognition.

Project/ NetLettable Rent Details Development area (NLA) (RM / psf)

Menara Sunway 268,978 4.50 Completed in 1993

The Pinnacle 580,000 5.50 Under construction. Expected completion: Year 2013 Sunway Pyramid(extension) 200,000 5.50 Under construction. Expected completion: Year 2013

Figure 7: Office Space

Project/ NetLettable Average Rent No. of retail outletsDevelopment area (NLA) (RM / psf)

Sunway Pyramid 1,700,000 10.00 > 800

Sunway Pyramid(extension), expectedcompletion: Year 2013 11,000 n/a n/a (6 level retail podium)

Figure 8: Shopping Complex

Factory Built-up Current Launch DetailsLots area (sf) Price Price (RM / psf) (RM / psf)

Terrace Factory 2,500 - 3,800 300 - 360 68.00 323 units25’ X 80’

Terrace Factory 3,200 - 4,800 300 - 360 73.00 146 units30’ X 80’

Semi Detached 3,200 - 4,800 300 - 360 55.00 48 unitsFactory 65’ X 150’

Figure 9: Industrial Offerings



Bandar Sunway is also been earmarked

as a leisure and entertainment cluster

under the Economic Transformation

Program


Sunway Resort Hotel & Spa


Entry qualification:

• If you are below the age of 50, you will need to show proof of liquid assets worth a minimum of RM500,000 (IDR1.41 billion) and offshore income of RM10,000 (IDR28.17 million) per month.• For applicants above the age of 50, you will need financial proof of RM350,000 (IDR0.99 billion) and also RM10,000 (IDR28.17 million) a month in income.• If you have purchased a property worth at least RM1 million (IDR2.82 billion), you also qualify for a lower fixed deposit amount upon approval.• Once your application is submitted and approved, you will then need to open a fixed deposit account with a minimumof RM150,000 (IDR0.42 billion) for those above the age of 50 and RM300,000 (IDR0.85 billion) for those under 50 years of age.

Incentives and benefits of Malaysia My Second Home:

• Eligible to bring in his/her own personal car OR to purchase a locally-assembled car without the need to pay import duty, excise duty and sales tax• Eligible to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia

• Eligible to bring their children who are under 21 years old and not married as their dependents and children who intend to continue their schooling in Malaysia are required to apply for a “Student Pass” and should be insured throughout their stay• Tax exemptions are given to pensions remitted into Malaysia. Participants are required to obtain endorsement from the Authorities in their country of origin on the total amount of yearly pension received• You can bring family pets together with you. Please check the Veterinary Import Regulation to confirm that your pet can be brought into Malaysia at www. dvs.gov.my

For more information on the Malaysia My Second Home Programme (MM2H), please visitwww.mm2h.gov.my/index.php

Malaysia: Your Home Away From

TO DATE, OVER 17,000 FOREIGNERS HAVE TAKEN ADVANTAGE OF THE MALAYSIA MY SECOND HOME (MM2H) PROGRAMME. WITH STRONG PROMOTIONAL EFFORT AND TERMS THAT ARE CLEAR AND TRANSPARENT, GETTING ON THE SCHEME IS A HASSLE-FREE PROCESS.


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Who would have thought that what was previously part of a rubber plantation would one day become a sought-after high-rise residential address? The tale of Mont’ Kiara’s evolution is one worthy of note, not just because it’s a true blue Malaysian real estate success story, but also because of the lessons it offers both developers and property investors alike.

In a period of just 15 years, Kuala Lumpur’s Mont’Kiara enclave has garnered the respect not just of Malaysians, but also of the international community in Malaysia, many of whom make a bee-line to there to find a place to live. Attracted by the concept of community living and the developer’s focus on quality of life, their presence has helped turn it into a vibrant, desirable place to live and this has increasingly drawn Malaysians to high-rise living in the area.

Today, Mont’ Kiara has turned into a suburban township complete with amenities and lifestyle outlets. It is the only suburban township that constitutes primarily high-rise developments in Kuala Lumpur. Its reputation has grown in tandem with its size and it is now considered by many to be the “Damansara Heights of high-rise living” (Damansara Heights is one of Malaysia’s premier landed residential property enclaves).

Mont’ Kiara comprises mostly condominium developments, with a some supporting retail and office components. The residents are, interestingly, made up of 30 different nationalities, of which Japanese and Koreans constitute a majority. Mont’ Kiara also hosts a multitude of businesses located in the office space and shoplots located around the township.

Figure 10: Map of Mont’Kiara

Source: Ho Chin Soon Research

into the area with ARA Asia Dragon Fund through One Mont’ Kiara. This retail-office development is valued at RM321 million.

The competitive edge that Mont’ Kiara has is its location which is 8km away from the bustling city centre of Kuala Lumpur and proximity to exciting townships with various amenities.Accessibility to Mont’ Kiara from Petaling Jaya and Bangsar is convenient through the SPRINT Expressway and the North-South Expressway’s Jalan Duta exit.The area also boasts excellent infrastructure and easy access to the recreational facilities of nearby Bukit Kiara.

International schools have also found their way into this township to serve and cater for the educational needs of the residents’ children. For instance, Mont’ Kiara has Garden International School, Mont’ Kiara International School, Australian International School and Lycée Français de Kuala Lumpur which offer British, American and and French curricula. (continued next page)

Mont’ Kiara: A Vertical City

By Afiq Syarifuddin

THE TRANSFORMATION OF WHAT WAS ONCE PLANTATION LAND INTO ONE OF KUALA LUMPUR’S PREMIER HIGH-RISE RESIDENTIAL ENCLAVES OFFERS A DEVELOPMENT MODEL WORTHY OF EMULATION

The main business hub is known as Plaza Mont’ Kiara, where many established multi-national companies have taken up office space. Other commercial hotspots are Seni Mont’ Kiara, Solaris Mont’ Kiara and Solaris Dutamas. A notable foreign investment in Mont’ Kiara is Cheung Kong Group’s foray

Ireka is a boutique developer with a focus

on upmarket properties in prestigious addresses

such as in Mont Kiara, the expatriate enclave of Kuala Lumpur. Mont

Kiara is located 10 minutes drive to KLCC

and has 3 international schools. The Ireka Group developed,

owned and managed The Westin Kuala

Lumpur before it was sold to an international

investor.


Therefore it is pertinent that the proposed new development’s pricing is in tandem with the supply and demand situation.

On top of strategic location and accessibilities, developers also need to put extra weight on the building design, facilities and amenities that will improve the overall resident’s quality of life. The environment also has to be designed to include amenities such as schools, shopping complexes and parks, as these are necessary to create a self-sustaining enclave that offers a convenient and vibrant lifestyle.

Once the “hardware” is in place the developer of such an enclave would need to put in the “software”, which is the services, activities and other offerings that will give residents


Due to its desirable location and good accessibility, Mont’ Kiara has experienced healthy capital appreciation over the years. Prices here hover in the region of RM500 to 750 per square foot and have been rising steadily due constant demand. The average rental and yield is RM2.86 psf and 6.89% respectively.

There are currently 142,059 condominium units in the market, reported by the National Property Information Centre (NAPIC) in the Property Market Report 2010. Of note is the fact that 17,922 units are coming into the market, further increasing the supply in Kuala Lumpur alone.

Although there are concerns of oversupply in the market, this is a broad-based phenomenon and occurs only in specific pockets in Kuala Lumpur City Centre where branding, positioning and planning are ambiguous. In this respect, Mont’Kiara has been way ahead of the rest right from its inception, thanks to the smart strategies employed by Sunrise Berhad, the developer that was instrumental for first carving a vertical city out of plantation land.

It is little wonder why investors are attracted to Mont’ Kiara. Key factors for a successful property market can be determined through the saleability and offer price. However, once the initial developer price has reached a certain threshold, the asking price would then only attract the upper-tier market and no longer be affordable to the masses.

Project Name Developer Gross Floor Subsale Price Asking Rental Rental Completion Area (sq.ft) (RM/sq.ft) (RM/sq.ft) Yield (%) Date

Amarin Kiara Amarin Group 4,073-6,141 600 2.89 5.78 Jan-08Kiaramas Sutera Asia Quest Holding 1,347-4,100 400 3.00 9.00 2004Hijauan Kiara Bukit Kiara Properties 2,090-3,732 600-800 3.20 6.40 Mar-08Verve Suites Bukit Kiara Properties 633-1,213 800 6.00 9.00 OngoingCasa Kiara I Dijaya / Sunway 1,235-4,573 430 2.50 6.98 Apr-06Flora Murni Tian Gloval 1,615-5,490 455 2.62 6.91 2006Laman Suria Sunrise Bhd 931-2,147 520 2.50 5.77 Jan-04Mont’ Kiara Meridin Sunrise Bhd 1,787-4,487 650 2.50 4.62 Jan-09Mont’ Kiara Damai Sunrise Bhd 2,272-11,000 590 3.00 6.10 Jul-04Mont’ Kiara Bayu Sunrise Bhd 798-2,300 500 3.00 7.20 Oct-02La Grande Kiara Nikmat Kuasa 1,961-7,335 456 3.04 8.00 2005

Figure 11: Existing Condominium Developments in Mont’ Kiara

Source: MPI Research

a lifestyle experience unlike any other. In Mont’ Kiara, for example, even residents’ transportation needs are taken care of through a shuttle service that takes them to major shopping areas in the vicinity. Exciting activities in the form of a weekend bazaar offer the opportunity for community shopping and family outings, while the nearby commercialprecincts hold out the taste of vibrant entertainment and dining out experiences.

Mont’Kiara appears to have avoided being marred by oversupply and slow take-up, a fact that developers of high-rise enclaves would want to take note of. Its secret lies in ensuring a winning formula right from the start and in sustaining the formula for the long term.

Mont’ Kiara Skyline



Healthcare

If you're searching for medical tourism, look no further than Malaysia. The medical and dental services offered by medical facilities in Malaysia are on par with those in fully developed nations. Malaysian doctors and specialists are highly qualified, having received their training at industry-leading overseas medical schools in countries such as the United Kingdom, United States and many others as well as in local universities.

1. Affordable procedures - Malaysia's favourable exchange rate and the cost of healthcare services comes at a comparably lower cost within the region.

2. Modern facilities - Extensive investments have been made to ensure that all medical centres are equipped with modern facilities, internationally accredited hospitals of Malaysia are capable of handling the latest techniques and procedures.

3. Professionals with internationally recognised credentials - Doctors in Malaysia are highly experienced. Having been involved in numerous groundbreaking procedures and revolution-ary researches which have garnered international recognition.

4. Short waiting time - Upon patients’ arrival, examinations and work-up tests are usually addressed promptly.

5. Ease of entry - With the relevant letter from the medical centre at which you will receive your medical treatment, you may enjoy up to six months of visa extension.

6. Low cost of living - Prices in Malaysia are reasonable and afford-able, be it accommodation, food or even shopping.

7. Affordable accommodation and excellent infrastructure - From five-star hotels to services apartments, Malaysia provides you with a choice for individuals or accompanying family, for short stays or event extended stay for treatment. All cities in Malaysia are also easily accessible.

8. Lots to see and do – Malaysia’s sights, activities and infrastruc-ture all combine to make Malaysia an exciting destination for healthcare tourism.

COST COMPARISON (USD)

Source: KPJ

Study: In Malaysia

•30 years of experience in international education

•Topursueaninternationalqualificationatacompetitive rate

•YoucanchoosefromUS, UK, Australian or Malaysian academic qualifications in Malaysia

•Morethan80,000 international students from more than 100 countries pursuing courses ranging from diplomas, English language course, degree to PhDs at private higher educational institutions, public universities and foreign university branch campuses in Malaysia

Item Australian Branch Campus Australian University Savings(%) in Malaysia (Estimated Cost) (Estimated Cost) Tuition Fees USD7,566 USD17,489 56.7 Living Cost USD2,970 USD11,351 73.8 Health Insuranc e USD54 USD223 75.8 Average Education Cost for one (1) year USD10,590 USD29,063 63.6

Total Education for Three (3) Years USD31,770 USD87,189 63.6

Source: MPI Research, StudyMalaysia

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RenaissanceKuala Lumpur

Shangri-La

Paci�c RegencyHotel Suites

Sheraton ImperialKuala Lumpur

KL Tower

MandarinOriental

JALAN SULTAN ISMAIL

KLCC

DangWangi

Bukit NenasMonorail

Raja ChulanMonorail

KLCC

G l o b a l C o m m u n i t y B u i l d e r

Central regionHome To The Capital City & Modern Townships

Southern regionThe World In One City

UEM Land Holdings Berhad (“UEM Land”) is the flagship company for the real estate investment and development businesses of UEM Group Berhad (“UEM Group”) and Khazanah Nasional Berhad (“Khazanah”). UEM Group is wholly-owned by Khazanah, the investment holding company of the Government of Malaysia.

UEM Land is currently undertaking the development of Nusajaya into Southeast Asia’s newest regional city with diverse signature developments to create and promote economic growth and development in the area, supported by several strategic initiatives to meet various economic activities and market demands. Its wholly-owned subsidiary, Sunrise Berhad, is the award-winning property development company largely responsible for the iconic Mont’Kiara development in Kuala Lumpur.

UEM Land is also the owner and developer of an urban development in Cyberjaya, Malaysia’s ICT hotbed located just south of Kuala Lumpur. The development, Symphony Hills, is an exclusive residential development and the country’s first Connected Intelligent Community (“CIC”) offering smart-home features and community connectivity through high-speed broadband.

UEM Land is listed on the Main Board of Bursa Malaysia Securities Berhad.

For further information, please visit www.uemland.com.

aboutUEM Land HoLdings

BErHad

• Developer: UEM Land Berhad (90894-P) • ImpIana CondomInIum • Developer’s Licence No.10555-3/05-2014/449 Valid from 07.03.2011–05.03.2016 • Advertising & Sales Permit No.10555–7/451/2012(03) • Valid from 09.03.2011–08.03.2012 • Date of completion: 36 months from SPA • BuildingPlan Approving Authority: MPJBT • Building Plan Approval No.: MPJBT (RP) 9/10/2007(9) • Tenure of Land: Freehold • E ncumbrances: Nil • Total Units: 488 • Price: RM453,000–RM3,782,000 • ImperIa CondomInIum • Developer License: 10555-5/12-2015/130 • Validity period : 27/1/2011–26/12/2015 • Sales & Advertising Permit No.: 10555-5/1805/2012(09) • Validity period: 9/9/2011-8/9/2012 • Land Tenure: Freehold • Land Encumbrances: None • Approving Authority: Majlis Perbandaran Johor Bahru Tengah (MPJBT) • Approved Building Plan: MPJBT(E2)OSC/22/8/2010(JB)RP9A/1/2010(4) • Expected Completion Date: September 2014 • No. of units: 246 • Type of property: Serviced apartment • Min Price: RM 667,888 - Max Price: RM 8,416,888 • Built-up area: Studio 1 – 1,519 sf; Studio 2 – 1,754 sf; Studio 3 – 1,409 sf; Studio 4 – 1,322 sf; Studio 5 – 1,714 sf; Studio 6 – 1,853 sf; Typical 1A – 813 sf; Typical 2A – 1,673 sf; Typical 3A – 2,508 sf.; Typical 3B – 1,828 sf; Penthouse 4A – 3,266 sf; Penthouse 4B & 4C – 4,336 sf; Penthouse 4D – 6,640 sf. • Bumiputera discount: None • Other restrictions : None • SChubert 3-Storey Parklink Terrace • Developer’s License No: 11186-1/04-2015/407 • Validity: 16/4/2010-15/4/2015 • Advertising and Sales Permit No: 11186-1/1034/2012(05) • Validity: 15/5/2011 – 17/5/2012 • Expected Date of Completion: May 2013 • Land Tenure: Freehold • Land Encumbrances: Malaysia Building Society Berhad • Type 1: 3,132 sq ft. 4+1 bedrooms. 31 Units. Price: RM1,080,888(min)–RM2,593,666(max). • Type 2: 3,208 sq ft. 4+1 bedrooms. 38 Units. Price: RM1,080,888(min)–RM2,686,666(max) 7% discount for Bumiputera. Building Plan Approval: Majlis Perbandaran Sepang-Ruj (10) dlm MP.SPG.9/CYB/142/08 • All illustrations and images are artist impressions only. The information contained herein is subject to change without notification as may be required by the relevant. Approving Authority and cannot form part of an offer or contract.

Headquarters Office:16-1 Mercu UEM, Jalan Stesen Sentral 5, Kuala Lumpur Sentral, 50470 Kuala Lumpur.

Sunrise +603-2718 7777Symphony Hills 1 300 888 555

Nusajaya Office:Nusajaya Centre, 8 Ledang Heights, 79250 Nusajaya, Johor.

+607 277 3777

Singapore Office:UEM Land Property Gallery 21 Tan Quee Lan Street, #01-03A Heritage Place, 188108 Singapore.

+656 835 7652

Singapore

Malaysia

Iskandar Malaysia:A Mega City in the MakingA SUSTAINABLE METROPOLIS OF INTERNATIONAL STANDING

By S. Sulocana

According to McKinsey Global Institute’s Urban World report titled; “Mapping the economic power of cities”, China’s rapid growth is fueled by the continued growth of its megacities and the emergence of new ones. Emerging cities are important as they spread wealth, reduce concentration and enhance per capita income.

The largest city in Malaysia is the capital, Kuala Lumpur, which contributes eight times the GDP of any other city in Malaysia and about RM263 billion to the nation’s Gross National Income. In order to spread the wealth of the nation, the government has announced five “economic corridors” to develop the various states and propel Malaysia into a fully developed nation by 2020.

Iskandar Malaysia development, launched in November 4, 2006, is one such corridor that has been strategically planned to jumpstart the urbanisation of Johor Bahru (JB) and its surrounding areas.

Johor as a hub

JB, the state capital of Johor, is strategically located within six to eight hours flight radius from Asia’s growth centres such as Bangalore, Dubai, Hong Kong, Seoul, Shanghai, Taipei and Tokyo and has a reach of a global market of some 800 million people. With an urban population of 2.2 million and rural population of 1.1 million, the state of Johor is serviced by three major ports, Pasir Gudang Port, Port of Tanjung Pelepas and Tanjung Langsat Port.Johor’s business concentration has been primarily on the manufacturing and agricultural industries. The state was the third largest contributor to the nation’s GDP at 9.3%, behind Selangor and Kuala has announced five “economic corridors” to develop the various states and propel Malaysia into a fully developed nation by 2020. Iskandar Malaysia development, launched in November 4, 2006, is one such corridor that has been strategically planned

to jumpstart the urbanisation of Johor Bahru (JB) and its surrounding areas.

Developing Iskandar Malaysia

Iskandar Malaysia was established on 30 July 2006. Spanning across 547,830 acres, it is divided into five flagship zones and each flagship has its own sector concentration. These flagships are designed to create a conurbation that completes the characteristics of an emerging city.

Flagship A: JB City Centre

This comprises the Central Business District and the State Capital of Johor. It is also the main gateway into and out of Singapore; thus it will be the primary business district complementing Singapore’s vibrant financial industry and act as a platform to support local businesses.

To improve accessibility between JB City Centre and Singapore, both Governments are in talks to implement the RTS-MRT project, connecting Polytechnic station (Singapore) to JB Central. The project is in its initial study stage and the transportation linkage will support the heavy traffic that is flowing in and out of JB to Singapore.

Flagship B: Nusajaya

Nusajaya is the 2,400 acres of residential and commercial development that comprises seven signature developments: Kota Iskandar

(Johor state’s new administrative centre); the Southern Industrial and Logistics Clusters (SiLC); Puteri Harbour Waterfront Development (residential and commercial development); EduCity (Education Cluster); Afiat Healthpark; International Destination Resort; and Nusajaya Residences. Nusajaya is positioned to be primary residential and commercial enclave.

Flagship C: Western Gate Development

This industrial development area covers 30,000 acres comprising a port terminal, Port of Tanjung Pelepas (PTP) and Tanjung Bin Power Plant. PTP spans across 3,500 acres comprising 2,000 acres of port Terminal and 1,500 acres of free trade zone. It is Malaysia’s busiest container terminal - handling approximately one-third of Malaysia’s total containers. The terminal handled 6.5m TEU’s in 2010 and is expected to handle 7.5m TEU’s in 2011.

Flagship D: Eastern Gate Development

This development is the industrial and manufacturing hub covering 31,132ha comprising Pasir Gudang Port, Pasir Gudang Industrial Park, Tanjung Langsat Port and Tanjung Langsat Industrial Complex.

(continued next page)


JOHOR STATE ADMINISTRATION CENTRE


Key economic activities in the Pasir Gudang area are electrical and electronic, chemical, oleochemical, chemical biofuels, food products, engineering-based industries, ports and logistics, warehousing, research and development and plastics. Heavy industries relating to Oil & Gas activities like engineering, fabrication and shipyard are also located this area.

Currently more than 10 Oil & Gas related multinational corporations have set up operations with over RM4 billion (USD1.3 billion) invested. Notable Oil & Gas investments are:

• TechnipGroup’sRM700million(USD225.8 miilion) plant to make flexible pipes in Tanjung Langsat

• EEW’sinvestmentofRM250million(USD80.6 million) in building its fifth plant in Tanjung Langsat to produce steel pipes

• Halliburton’sRM200million(USD64.5million) manufacturing centre in Johor Technology Park to supply completion equipment and cementing tools.

• DialogGroupBerhadandVopakinvestedRM5 billion (USD1.7 billion) to develop a deepwater petroleum terminal and storage capacity in Pengerang.

Flagship E: Senai-Skudai

This project is synonymous with Senai International Airport and Universiti Teknologi Malaysia (UTM). Senai Airport is envisaged to become the No. 2 airport in the region after Changi Airport by 2025. It takes only 30 minutes to drive from Johor Bahru to Senai Airport.

Another major development is the opening of Johor premium outlets by Premium Outlets, a division of US-based Simon Property Group and Genting Berhad by the end of 2011. The RM149 million outlet with 330,000 sq ft built up area on a 17.8ha site, is the first of its kind in South East Asia and is expected to open in the third quarter of 2011.

Mohamed Basir bin Mohamed Sali, the General Manager of the Johor State Investment Centre (JSIC) reiterates that the primary motive behind Johor’s flagship developments is to increase investment in the manufacturing and oil and gas sector which can lead to a spillover effect into the real estate and services sector.

At the same time, JSIC is adopting a holistic approach to development by improving the infrastructure landscape, healthcare, education facilities and improving the

government’s delivery process to increase the ease of doing business in Johor and sustain investors’ interest.

Real Estate Outlook

The real estate sector is also booming due to the Iskandar Malaysia development. Presently, the residential and industrial segments are experiencing consistent growth.

The steady inflow of operational plants relocating from Singapore has increased the demand for industrial land. Hence, the price of industrial land has increased from RM20-25 psf in 2008 to RM35-40 psf in 2010.Southern Industrial and Logistics Clusters (SiLC) developed by UEM Land Berhad in Nusajaya, comprising 1,300 acres of managed industrial park, is set to cater for the increasing demand.

Prices of residential properties have started to pick up and the take-up rate is strong, averaging about 70 per cent. The prices of medium cost and high-end residential properties hover around RM250,000 – RM400,000 and RM 401,000 – RM2 million respectively, almost similar to prices in the Klang Valley. The residential sector is burgeoning due to interest from foreigners, especially Singaporeans. Presently, 60 per cent of the residential properties are owned by foreigners and 40 per cent by locals.

The Singapore Factor

Partly due to its proximity to Malaysia, Singapore is the country’s largest investor. Statistics from the Malaysian Investment Development Authority (MIDA) have put Singapore’s investments at approximately USD700.2 million in 2010.

Prime Minister Datuk Seri Najib Tun Razak’s two day visit on May 21 and 22 in 2009 to Singapore has strengthen and forged closer bilateral relations between the two countries. Cross-border investments have since seen a steady increase.

An investment worthy of note is the joint venture investment by Malaysia’s Khazanah Nasional Berhad and Singapore’s Temasek Holdings Pte Ltd in a USD8.9 billion mixed-development project comprising hotels, apartments, offices and shops in 5.4 million square feet of space in Singapore and a USD980 million project in Iskandar Malaysia comprising residential development, retail space and a wellness centre. These investments fortify Iskandar Malaysia’s position as the hinterland to Singapore; similar to that of Shenzhen to Hong Kong.

2012 Tipping point

The tipping point for Iskandar Malaysia is expected to be in 2012 with the launch of the Educity Cluster, Indoor Theme Park, Legoland and Marlborough College. Investments in various sectors are also taking shape in this region. Increasing population growth, retaining human capital and rising living standards are among issues that need to be addressed as cities are moulded through high per capita gross national income, commendable lifestyle benefits and capacity to attract higher investments and talented workers.

Johor is on its way to becoming a force to be reckoned with, balancing the robustness of Kuala Lumpur and Penang and making its way to become Malaysia’s next metropolis.

UEM Land Holdings Bhd is listed on the Malaysian Stock Exchange and is the real estate arm of the UEM Group. A Government-linked company, the UEM Group is wholly owned by Khazanah Nasional Bhd, an investment holding company of the Government.

UEM Land won the global FIABCI award in 2012 for its Nusajaya Master Plan. UEM Land also garnered 4 accolades at the Asia-Pacific Property Awards 2012 for its architecture, innovation quality and sustainable development.

Figure 12: Residential Projects in Nusajaya - Launched - Total Area (acres) as at July 2011

Note: * One Medini Condominium is a 99-year leasehold development with no minimum threshold value for foreign purchase



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