Tag Archives: ipoh property development

Le Greene by Energiser Properties Sdn Bhd

Le Greene Development – Committed to Healthy Living

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By Olivia Teh

Le Greene by Energiser Properties Sdn BhdProspective home-buyers are often, and all too conveniently, exposed to the terms “healthy living”, “green” and “affordable” in property-development descriptions; but which development can fully live up to its promises?

Apparently Le Greene, a housing project by Energiser Properties Sdn Bhd, can. The development, comprising a total of 290 units are slated to be fully completed by end of 2014, and will deliver a “first-in-Ipoh” project plan catered specifically to address and fulfil all three promises in a consistent, professional and sustainable manner. As Operations manager Joesephiine Chor affirms in our meeting with her, “we want to give our home-owners their Dream Home; and we want to give it to them at an affordable price.”

Healthy Living

“We have qualified personal trainers in our gym. At a low price, they can give residents a personalized service, and provide them with a fitness regimen most suitable to their body and health types.”

Le Greene by Energiser Properties Sdn BhdFitness is top of the agenda at Le Greene as part of fulfilling their promise on healthy living. In fact, the fitness amenities available on-site is Le Greene’s biggest selling-point, its niche.

Spanning over 1,600m square, the land consists of an impressive 2 storey, 5-roomed gym furnished fully with state-of-the-art US-imported equipment, a 25-metre length swimming pool, a badminton court, a personalised ‘track’ course for cycling and jogging enthusiasts, and a pantry and barbecue area for convenient after-work refreshments. A private sauna house, tennis and basketball courts will be built in the near future.

Joesephiine is quick to highlight that these luxuries are merely reserved for the residents. “Outsiders who want to join The Gym will have to pay a joining fee of RM1,000 and monthly payments of RM180. Memberships are by invitation and recommendations only.”

Le Greene by Energiser Properties Sdn BhdLatest Fitness Classes

Indeed there is a good reason as to why non-residents may be interested in gaining such a privilege. “The Gym”, aptly called, provides residents and members with the “latest fitness classes in town”, ranging from step, pilates, yoga, circuit trainings, cardio dance and spinning classes. Before embarking upon any exercise regimen, residents and members are also expected to stretch in the “Stretch Room”, which features a TRX wall – Ipoh’s only strength rope-training equipment. Other rooms include the cardio room, which is fully equipped with brand-new treadmills and elliptical trainers, and furnished with floor length windows overlooking Ipoh’s iconic limestone hills; the weight room which takes up the whole ground floor of the gym, and the “Spinning Room” which contains 26 state-of-the-art bicycles.

Security Top Priority

Ancillary to the ‘healthy living’ concept is also the developer’s goal to provide residents with safety. “We want to make sure that our residents feel safe here, so that they can freely use the compound as they wish. We train our guards in-house, and all the roads are completely surveyed by CCTVs. We have regular patrolling every 2 hours and a CCTV is attached beside the pool for constant monitoring in case of emergency. Everything is done in-house to maintain a high level of security”.

Green

“People want to escape the concrete jungle. They want to come back from work, and be greeted by the green landscapes and surrounding scenery of the limestone hills.”

Le Greene by Energiser Properties Sdn BhdHaving scrapped prior plans to build apartments and additional unit lots in order to “limit the number of residents and to preserve the scenery”, the developers of Le Greene have turned their attention to providing their residents with a holistic, eco-conscious life. Accordingly, paver stones, instead of tarmac, are utilized to line the road as washing it would be easier, thus reducing aggregate water usage.

Furthermore, Le Greene has hired in-house landscapers to design the parks. “We want to make sure that our residents are greeted by lush flora from the entrance, to the end of the compound. We want this place to blend in with nature, with the mountains.” Joesephiine adds that some spaces may also be utilized as an orchard for residents to promote organic farming.

Affordability

“Although the majority of our buyers are mid- to upper-range income earners, we want to make sure that young families and young executives can afford the houses too.”

Le Greene by Energiser Properties Sdn BhdPerhaps this is why Le Greene offers interested buyers the option of choosing between the 20×70 single, double or triple storey terraces, and the semi-D houses. These properties are being offered at market prices ranging from $233,800 to “around a million” for the semi-D properties, which will only be launched in the middle of next year.

So far, the response for the single and double storey developments have been well-received. “Around 90% of our single storey houses have already been snapped up at a private showcase held mid-this year”, says Joesephiine, adding that “our main customer base was made up of exactly who we wanted to cater to – the young executives and some Japanese expatriates.”

Increased Capital Value

Such encouraging response could well be positively correlated to the increasing capital value of the properties. The single-storey houses which were sold for $165,800 at launch date in November 2010 now have an alleged resale value of at least $233,800. Purchasers wanting to rent out the property can expect a rental rate of around $1,200 for a fully furnished unit. All single storey units are built on a “Built and Sell” concept; meaning the houses are fully completed with CCC (Certificate of Completion and Compliance) before the units are sold. Purchasers can shift in immediately upon signing the sales and purchase agreement and having fully paid for their units.

Similarly, the value of the double storey developments have increased by $90,000 from $298,000 to $388,000, with next year’s value being currently evaluated as exceeding $400,000. Rental rates start at $2,500 fully furnished.

Ideal Location

For those worried about the sustainability of these figures, Joesephiine assures that the supply and demand of the properties will remain robust going into the near future, as the developers are firmly committed to providing “exclusivity within this compound, whilst continually generating market and buyer interests in the properties”. Moreover, Le Greene happens to be minutes away from the North-South Expressway, as well as Giant, Tesco, Jusco, Maybank, Pantai Hospital and Sunway Lagoon. Convenience and the centrality of its location are most definitely important factors to this development’s success.

Sales Office: No. 10B & 10C Persiaran Greenhill, 30450 Ipoh, Perak.
Tel.:
05-253 2463   Fax: 05-253 2469   Email: ee7813@gmail.com
Joesephiine – 012-402 9109

Property Boom in Kinta District?

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By Jerry Francis

Indications of a property development boom in the Kinta District are everywhere. Large advertising billboards and banners displaying new property development projects are seen strategically located, particularly around Ipoh. Meanwhile, at the project sites, construction works are in progress as developers rush to meet their deadlines. Among the projects are a number of new townships, such as Bandar Baru Sri Klebang, Bandar Sri Botani, Sunway City and Bandar Meru Raya. Other major projects like The Haven, The Thompson Flora Tropika Residences, and Meru Desa Park vie for attention. Commercial projects too like MH Tower and Riverside….are all gearing up for completion.

Construction work in progress in Bandar Baru Meru Raya – mini Putrajaya of Ipoh

Property Buyers on the Increase

Contrary to the signs, there is no boom yet ‘but there are definite and encouraging signs that the property market is stirring. It started about a year ago,” commented Mr. Peter Chan, CEO of Superboom Projects Sdn. Bhd.

On whether the encouraging situation in property development can go on for a decade, he said, “it would depend on how the nation and Perak is doing. From present indications, two to three years is most likely because the trend has started and sentiment has reversed from negative to positive.”

No Property Bubble Noticed

Dato’ Francis Lee, chairman REHDA Perak

His view has been further supported by the Perak Real Estates and Housing Developers Association (REDHA). Its chairman Dato’ Francis Lee stated there is no property boom or bubble existing in the Kinta District.

“In most circumstances a property bubble is evidenced by the existence of an increasing percentage of buyers who purchase properties with speculative intent only with the hope of yielding some short term financial gains.

“This abnormal increase in demand has the effect of escalating the price of properties, often pushing prices of properties beyond the affordability gap of genuine purchasers,” he said.

“In tandem with this increasing pricing, developers respond by increasing delivery well above the true effective demand which will ultimately cause the bubble to burst. However this is not the case in the Kinta district or anywhere in Perak.”

In the case of residential properties in the Kinta district, Lee said almost all the purchasers are  effective home buyers or long term asset class investment buyers. It should be noted that all housing developers in Perak are only making normal profits out of the housing industry and any exception is due to a capital appreciation of the developmental property.

Lee added that the price increase of some 15% over last year is due to increasing costs of delivery, including land procurement, building cost and cost of bureaucratic compliance.

Housing Deliveries Fall Short

“In fact housing deliveries in Perak for the last few years have fallen short of the Ninth Malaysia Plan 2006-2010 target of 58,200 units for the planned period. This is equivalent to 11,640 units per annum for the corresponding period,” he explained.

This is not in keeping with the population growth of Kinta district which has increased from 549,198 in 1991 to 735,601 in 2010 and Perak which has increased from 1,877,471 to 2,258,428 in 2010.

Urbanisation

With this increasing urbanisation of the Kinta district within Perak and the fact that the urbanisation tempo will gain further momentum in the longer term, there will be a corresponding increase in demand for residential housing.

Sunway

According to the report, the number of residential units in existing stock in Kinta is 183,118. Single storey terrace houses and 2 and 3 storey terrace houses account  for

102,631. Detached houses total 24,198, single-storey semi detached 4,990, low-cost h

ouses 36,379 and low-cost flats 5,560. The balance is made up of town houses, clusters, flats, service apartments and condominiums.

Single storey terrace and double storey terrace houses represent a 56.0% of total residential housing stock in the Kinta district as of last year. Consistent with the Perak State Government policy for a mandatory delivery of a percentage of total housing deliveries by way of low cost housing, there is a 23% housing stock of low cost houses/flats in the Kinta district.

Future Delivery

The total numbers for future delivery of residential houses in Kinta as of last year was 13,974 “incoming supply” (physical construction works in progress), 1,796 “starts” (foundation and footing works in progress), and 18,968 “planned supply” (units with building plans approved).

All types of houses are in demand as they cater to  different markets. However, quality housing is preferred as more people demand better quality.

Buyers are both locals and from outside of Perak with an increase in foreigners as well. Their purposes are for own stay, vacation stay, retirement stay and/or investment.

Site for Meru Raya town centre

Criteria for Buyers

As secured location is the most important in the minds of prospective buyers, developers are wooing them with gated and guarded enclaves and with CCTV cameras on every street. Some developers are even providing individual alarm systems and auto-gates to every unit. Other criteria such as pricing, location (how close to public amenities such as schools), value for money (quality finishings compared to other similarly valued units), architectural designs (with minimal “white zones” to enable all parts of building to be used), and the reputation of the developers all play a role in developers’ strategy to woo buyers.

“Some prospective buyers are very fussy. They would look at the Feng Shui aspects,” remarked a leading developer. “They are interested whether the location and the architectural design of the building are favourable according to Feng Shui.

He said most developers are aware of such demands from the buyers and are doing everything possible to win them over.

“A right property investment is the best hedge against inflation,” said another developer. The property market this year and next year could still see 10%-15% growth, driven by scarcity of land and higher input costs.