Monday, August 24, 2009

Ocean View Residences Starts to Take Shape (24/08/2009)

The foundation works for Ocean View Residences started a few weeks back and everything is on schedule. PJ Development has decided to adopt a new cutting-edge construction technology known as the MFE (Mivan Far East) Aluminium Formwork. This technology is practiced in countries like Dubai, Abu Dhabi, Hong Kong, China, Thailand and Singapore. The reason for PJD to follow suit is that this technology will be a able to provide stronger, more accurate, highly tolerant and higher quality finished concrete surfaces. This versatile construction technology virtually brings the "assembly-line" productivity to the construction site itself.

Just imagine that by July 2012, this empty piece of land will be replaced with one of the most innovative condominiums around.

Friday, August 21, 2009

Chic Urban Living comes to Penang Island

Ocean View Residences is holding a roadshow at the ever popular Gurney Plaza from the 21 to 23 of August 2009 to create more awareness of the project to the islanders.

PJ Development was among the few distinguished developers to exhibit their latest product at this property fair. The atmosphere was abuzz with activities as there were also quite a number of other non-property exhibitors as well.

Curiousity got the better of these ladies as they went closer for a better look and made enquiries about the project.

The Chic and Easy scheme seems to work like a charm here as well.

Tuesday, August 18, 2009

A positive property market

I came across this interesting article at the Penang Apartment website. Looks like the property market is starting to recover.

Signs of quick rebound in property sector

The slew of property launches and speedy take-up rates lately are signs that the local (property) sector is on a quick rebound from the global economic downturn.

In its latest report, HwangDBS Vickers Research said the local high-end property sector had been on an uptrend, with developers raking in quick profits from project launches.

Among them were DNP Bhd’s Verticas condominiums in Bukit Ceylon, Kuala Lumpur, which saw 60% of the 50 units soft launched being taken up.

En bloc buyers also snapped up 93% of non-bumiputra units launched (last month) at IJM Land Bhd’s Light Linear project in Penang.

“We see demand for high-end units returning, which could re-rate the sector,” said HwangDBS.

It also highlighted Eastern & Oriental Bhd’s St Mary serviced apartments in Kuala Lumpur (launched in June, 80% take-up in five days) and SP Setia Bhd’s Sky Residences condominiums in KL (previewed in September 2008, with an average 70% take-up so far).

“Developers are more confident now to resume launches, which should lead to faster earnings recovery. Selling prices may soon be raised and incentives gradually pulled back, resulting in margin expansion for developers,” HwangDBS said.

An analyst from a local bank-backed brokerage said the take-up rates were not surprising, given the developers’ good reputation.

“These developers aren’t your fly-by-night type of developers. They have very good reputation and solid track record. The average investor or house-buyer is more likely to park his money with a well-known developer, knowing that his money would be safe,” he said.

Another analyst said the property sector was making a comeback in the region. In the last few months, Hong Kong, Singapore and China had seen strong surges in property demand, she said.

“There’s so much liquidity with nowhere to go. This is one of the safest ways to fight inflation. Putting your money in the bank basically means being eaten up alive by inflation.

“Malaysian property is generally still very affordable. If you don’t buy one now, it will be even more difficult to afford it next time. The 2% interest you get from banks is nothing,” she noted.

HwangDBS also highlighted the Malaysia Property Inc, a joint public-private sector initiative aimed to attract foreign investments worth RM20bil in the domestic real estate sector over the next 10 years.

“The recent liberalisation measures (abolishment of local equity ownership requirement for mergers and acquisitions and Foreign Investment Committee approvals) should help boost both foreign and local demand for Malaysian properties.

“Previous policy changes (waiver of real property gains tax and monthly EPF withdrawals) introduced just before the financial crisis have yet to be fully felt and could be strong catalysts during a recovery,” it said. - By Eugene Mahalingam (The Star)

Monday, August 3, 2009

Sunway Carnival Mall Roadshow (29/07 -03/08/09)

Ocean View Residences decided to do its first roadshow to help create even more awareness for this project and what better than at Sunway Carnival Mall in nearby Seberang Jaya.

"CHIC + EASY Way to Property Ownership" was the theme - just like what it says on the backdrop...

The Exhibition Booth was quite attractive and in line with the Chic Urban Living concept.

The embedded cube boxes which was strategically placed around the exhibition area added colours and vibrant to the area.

As usual, the Chic Urban Living was drawing in the crowd...

While the parents are busy considering their new homes, the children had a great time at the play area...