RUMOURS

We keep an ear out for upcoming developments from our verified sources.

These rumours are only indications of intent from developers and therefore subject to change.

PROPOSED REDEVELOPMENT OF TAMAN KIARA RIMBA

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::UPDATED::Developer Memang Perkasa has received approval for the resubmitted proposal in August. The proposal has 4 phases of construction.First phase includes a block of 38-storey of affordable h...

::UPDATED::Developer Memang Perkasa has received approval for the resubmitted proposal in August. The proposal has 4 phases of construction.First phase includes a block of 38-storey of affordable housing with resident facilities and two blocks (Tower 1 & 2) 45-storeys and 52-storeys with a total of 578 units of service apartments.Phase 2 will have two blocks (Tower 3 & 4) of 60 storeys service apartments that consist of 324 units with residential facilities and mechanical car parks.Phase 3 comprises of another 2 blocks (Tower 7 & 8) with 288 and 290 service apartment units in 52-storeys and 45-storeys respectively.The last phase finishes the project with 2 blocks (Tower 5 & 6) of 60-storeys service apartments with 324 units and commercial development.Conclusion, there will be one block of 350 units of affordable housing and 8 blocks of service apartments which has a total of 1,804 units. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------Alarms have been sounding over the proposed redevelopment of Taman Rimba Kiara in Taman Tun Dr Ismail.Plans submitted by developer Memang Perkasa Sdn Bhd (a private company linked to Pavillion's Tan Sri Desmond Lim Siew Choon) include a 29-storey block of affordable housing with 350 units; 8 blocks of serviced apartments (from 42 to 54 storeys) with a total of 1,766 units; and a future commercial development. The land in question, estimated to be 12 acres, is located next to Plaza VADS at the end of Jalan Tun Mohd Fuad, and borders the western side of the Kuala Lumpur Golf and Country Club (KLGCC).It owned by the government, via social economic foundation Yayasan Wilayah Persekutuan (YWP), or Federal Territories Foundation.Residents have been vocally unhappy over such a high density project on a much treasured green lung in an upmarket neighbourhood. The park is a popular spot for morning walks, bird watching and recreational activities.Member of Parliament for Segambut, Lim Lip Eng, for one, has objected to the project with the clarion call "Let's fight this!" on his Facebook account.Affected owners of adjacent properties may submit their objections to DBKL before June 30, 2016.Drama and controversy is not new to this land in question.Back in 2009, another company Damai Kiaramas had been negotiating with YWP on the development of the land. They signed a joint venture agreement in September 2013 to build a mixed development.Plans included low-cost apartments for former estate workers who have been living in the area for more than 30 years, after the estate they were working in was closed down and redeveloped into KLGCC.DBKL had housed them in 100 "temporary" longhouses since, and as of 2015, there were more than 180 families living in those homes.Subsequently, YWP decided to go ahead with Memang Perkasa instead, as it claimed that Damai Kiaramas was not financially able to carry off the project. Damai Kiaramas filed a court injunction against the parties involved for wrongful termination of its joint venture agreement.The outcome of that injunction is not clear. But it looks like Memang Perkasa is pressing ahead with its plans.SIGN UP with Propertypricetag.com to check the latest transacted prices in these neighbourhoods. List your property for FREE or check out our many cool 360 videos. Follow our Facebook page for more insights and updates on the property market in Malaysia. 

PROVENCE VILLAGE IN MALAYSIA

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Sunsuria Bhd, and their joint-venture partner Ever Rich Land Co Ltd, will be bringing a taste of Korea into their 525-acre Sunsuria City development in Putrajaya South, Salak Tinggi.Everrich Group'...

Sunsuria Bhd, and their joint-venture partner Ever Rich Land Co Ltd, will be bringing a taste of Korea into their 525-acre Sunsuria City development in Putrajaya South, Salak Tinggi.Everrich Group's Dr YuanKuo Tong (3rd from left) and Sunsuria Bhd's chairman Datuk Ter Leong Yap (4th from left) and team recently announced their upcoming Provence Village-inspired development in Sunsuria City.Sunsuria Provence Village, a Korean-themed, French-styled development, covers 8 acres in Sunsuria City. It will encompass serviced apartments, the boutique Hotel Everrich of Incheon fame, a glass-wedding house, a niche Korean-themed mall with all things Korean (or specifically beauty, fashion and K-Pop segments), and colourful themed gardens  that would transport you to the famed Provence Village in Paju Island, Korea. No flight ticket needed. But if you are coming in from abroad, KLIA is only 10km away from Sunsuria City, or 6 minutes by ERL.The project is expected to be launched in 2017 and will take about 5 years to be completed.Sunsuria City also consists of the Xiamen University Malaysia campus, commercial offices, malls and the KL International Outlet.SIGN UP with Propertypricetag.com to check the latest transacted prices and to list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia. 

TA GLOBAL's GLOBAL REVENUE

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TA Global Bhd will realise most of its profit this year from its successfully completed Trump International Hotel & Tower Vancouver, according to director Datin Alicia Tan Kuay Fong (center) af...

TA Global Bhd will realise most of its profit this year from its successfully completed Trump International Hotel & Tower Vancouver, according to director Datin Alicia Tan Kuay Fong (center) after the company's 2015 AGM.The 63-storey development, the second tallest building in the Canadian city, comprises 147 hotel rooms on the first 23 floors and 218 residential suites on the remaining storeys.Key handover for the Trump residences will be in July 2016, and the Trump Hotel is expected to open in August.Jointly developed by TA Global and Canadian property company Holborn Group, the project is considered sold out, and the group will keep three penthouses for recurring income.While TA Global has been holding back on new launches due to poor market conditions, , such as its Dutamas condo, it plans to launch two projects this year -- Little Bay Cove in Australia and Ativo Suites in Malaysia -- worth about RM1 billion.Little Bay in Sydney comprises 179 units and eight land lots, which may be sold or further developed. "We have already achieved AU$138mil, or 83%, in sales for Little Bay," said executive director Kimmy Khoo. TA Global is expected to recognise A$138 million from the project on a progressive basis over 18 months starting 3Q16.Ativo Suites at Damansara Avenue consists of two blocks with 668 units, which are more bite-sized compared to the higher end and larger Dutamas units. Some 70% of the units are between 500 and 650 sf, while the remainder are between 1,000 and 1,200 sf.For the 11-month period ended Dec 31, 2015 (FY15), TA Global recorded a net profit of RM43.62 million on revenue of RM534.95 million. The Trump development contributed RM46.4 million, or 57.4% of the groups profit. SIGN UP with Propertypricetag.com to check the latest transacted prices and to list your property for FREE today. You can also follow our Facebook page for more insights and updates on the property market in Malaysia.