Updated News from NSTP 29 Jun 2012
http://www.nst.com.my/red/focus-steady-cli...the-top-1.99435



TRIPLE WINS: There is no stopping Yuk Tung as it sweeps three awards at the Asia Pacific Property Awards recently
Fresh from the resounding success of its signature development, The Peak @ Bukit Prima Cheras which won the coveted 5 Star Best Development
Award (Malaysia) under the Residential Property category in the prestigious Asia Pacific Property Awards 2010, Yuk Tung Group is on a roll with another award-winning project, Central Residence @ Sg Besi which recently won the Best Apartment (5 Star) at the Asia Pacific Property Awards 2012 – 2013.

Apart from great teamwork, the other factor that contributed to this string of awards, three for Central Residence alone, is the man helming the company, Tan You Hock, the Managing Director of HR Group, the management company for Yuk Tung Group.

Moderation and integrity are what best describes Tan, who immediately comes across as someone who has his feet firmly on the ground.
After all, Yuk Tung’s group turnover hit RM400 million last year and this year, the up-and-coming developer aims to add another RM100 million to its turnover making it cross the psychological
half-billion ringgit mark.

Not bad for a company which initially in 2009 faced an uphill task convincing people to take up units in The Peak @ Bukit Prima Cheras, a residential area not known for luxurious residential houses. Today, The Peak’s landed superlinks and semi-dees are fetching almost double the launch price. “Our Phase 3 super links were launched at RM600K, they are now transacted at RM1.2 million while our semi–dees are fetching RM2 million compared to its launch price of RM1.2 million barely two years ago,” Tan reveals.

“Since The Peak, our brand has become known in the market to the extent that we now have repeat buyers,” he says, adding that the two bungalows that they have built in the same location have been sold for RM3.3 million
and there are four more bungalow units available for sale at RM4.3 million.

As its name becomes more recognised, the company has forged ahead with another project, this time a high-rise GBI compliant building. Aptly named Central Residence @ Sg Besi, the freehold development sits on 4.16 acres of land on one of the most overlooked locations in Kuala Lumpur. Only seven kilometres from Kuala Lumpur City Centre (KLCC), the three towers stand majestically along the Sungei Besi Highway and the Terminal Bersepadu
Selatan (TBS-Transportation Hub) is just less than two kilometres away.

Best of all, there are no traffic lights all the way to the KLCC. Not surprisingly, Ho Chin Soon, a renowned property consultant, has given the location a big thumbs-up.

As Tan, an engineer-turned-developer points out, the central location is key to its success. “We have had very good response from buyers. Almost 85 per cent of Block 1 (526 units launched in August 2011) is sold. This is considered
very good in view of the cooling measures by Bank Negara.”

He further shares that 80 per cent of Block 1 buyers are local young professionals within the age range of 35 - 45, reason being that they prefer a location that’s near to the city centre. The price ranges between RM350K – RM650K for SOHO/service apartments with sizes of between 565 - 876 sq ft.

“Our second block has bigger units from 845 - 1,122 sq ft with prices ranging between RM490K – RM720K. I foresee more foreign interest for these as we have just started promoting them overseas after its launch on May 6,” the MD shares.

Block 2 features a high ceiling of 3.2 metres, more windows, pocket gardens, a unique marina-themed club like recreational floor that include facilities like two swimming pools and an amphitheatre.

The company targets to launch Block 3 comprising of 168 units (ranging from 785 - 1,132 sq ft) of service apartment units before the end of this year.

Majority of the SOHOs are like semi-dee units and come with two car parks. While Block 1 comes with a big swimming pool on the roof-top, all three blocks have roof top gardens. Every fourth floor boasts a sky garden with double volume ceiling height, which Tan believes contributes to the design excellence which won it good reviews from its buyers.

“Ultimately, it’s our commitment to the project, the location and design as well as the lifestyle facilities that won us the award,” Tan reckons, adding that they even provide shuttle bus service to the city centre as part of its after-sales service.

Ahead of schedule: The former engineer expects sales of the 1,000-unit development to top RM600 million in total and is confident that the project can be completed within 30 months from now. “At the current take-up rate, we are targeting to complete all three blocks at one go. The foundation work is in progress and there is no reason to slow down,” he says.

Judging from the major banks’ support on providing end financing facilities, the company has confidence to complete the project ahead of schedule.

Indeed, as a pocket developer, they are the least affected by the economic uncertainties, Tan reckons.

“We are not a public-listed company and are very hands-on. The commitment is there. We work very hard, all 80 of us to complete all the current projects. Indeed, our group made its name through hard work,” Tan reveals.

Neither does the company believe in holding vast tracts of landbank. Apart from a 42-storey single block of luxurious service apartment in Jalan Yap Kwan Seng, Kuala Lumpur, which is “ready-to-launch”, the company has acquired 75 acres of land near the waterfront in Port Dickson. It is currently in the planning stage, and the company is now sourcing and working with international consultants to develop it into a mixed development comprising a hotel, theme park, restaurants, bungalows, central park, service apartments and commercial facilities/retail businesses.

By all accounts, Yuk Tung, though a relative newcomer in the industry, has earned its stripes and is set to chart another milestone in its journey to provide distinctive homes.

Read more: FOCUS: Steady climb to the top - RED - New Straits Times http://www.nst.com.my/red/focus-steady-cli...5#ixzz20CQlfSt5

JASTAN

Many TQ for the except of YUK TUNG, giving confidence to CONFIRMED BUYERS, and PROSPECTS.

Shows, TUK TUNG is fast establishing itself as a PROPERTY DEVELOPER who delivers! Awards are earned, and not just passed on.

Being new, I believe, they will work harder to give us the LOYAL Buyers more meat. We believe in TUK TUNG by buying their units, and We believe, we will be rewarded by the developer with high Investment after sales values.

This is one developer who don't rely on hard core advertising. They rely on delivery. Past Developments already bear witness to their enthusiasm and hard work to come out with even better developments.

Central Residence once completed will be one of the city's icon towers!
I got the SOHO Central Residence. The Service Condo Units, if i got the extra money, I will not hesitate to buy another.

It is with that confidence, that i quickly snap up the 25th Floor of SOHO Central Residence. I am at the top of this great ICON Building in KL.

No regrets!!!

I have a chat with SA and asked about the sale progress for the Court Central Residence court. There are 6 types of built up available. If not mistaken is
Build Up Size:
845_2R+2B, 896_2R+2B, 945_3R+2B, 1089_3R+2B, 1115_3R+2B, 1122_3R+2B

To my surprise the 1115 and 1122 sqft built up are sold out which cost > RM600K. Normally, the smaller built up are faster sold out compare to the larger units due to the price tag is much cheaper but this theory don't apply to Central Residence.

Ummm that's good to know the larger units sold out than stuck there as unsold!

This clear the myth and superstitious that the Feng shui is yaks or you can see ghost

Put it this way, do you think is famous developer will put their Gold in this development if there don't have research and solid marketing about this area and it's future and all the Feng shui ??

I have 100% trust in their projections.

I am renting at midfields. I need a stay another area ( pref my own) by early 2013.
If not, I would like to buy the courts the larger units.

Another agent is trying to sell me Gembira Residence at jalan senang ria at taman Gembira.
That 1488 sq ft unit cost around 650k ! And freehold.
So if you look carefully, courts and soho both got the chance to up by value another 200k during good times and in years to come. It's FREEHOLD!!!
That's the catch!!!!!!
Go for it!!!

This post has been edited by Citydude: Jul 18 2012, 10:02 PM

Hi Citydude,

I totally agree with you. This developer started about 15 years ago since 1997 and they are of course not as famous as the well know developer but thay are gaining fame now with lots of awards that they accumulated. They have of course don't a lot of intensive research before embark into this project. We ought to know that they are not public listed company. All the investment cost are from their pocket money and with the help of banks loan. So, if any one of their projects failed, they will have drained all they hard earn profits all these years.

You really have the confidence in appreciation value for both the Courts and Soho. For me, is simple, as long as the property are well maintained by the management years to come will directly increase the value of the property. Good management play a very important role.

The feeder bus to TBS is provide free by developer or to be service by JMB later?

Hi peri peri,

The feeder bus is provided free by the developer but maintain by the JMB. The residents need to pay if wanna use the Feeder Bus service. This will be fair to other residents who don't use the service.

Today at Carrefour Midvalley .
The Courts Residence of Central Residence put up a side stall to sell the units etc.

The Sales guy told me. SOHO is SOLD OUT!!

Courts I noticed also selling fast.
Block 3 is soon open for Sale?

Another Masterpiece Award

Updated News from The Star 23 July 2012
http://www.yuktung.com.my/pdf/ad_20120723_TheStar.pdf


HEARTIEST CONGRATULATIONS TO HR GROUP OF COMPANIES FOR BEING AWARDED INTERNATIONAL STAR FOR LEADERSHIP IN QUALITY AT THE ISLQ AWARD PARIS, 2012

A RECOGNITION TO LIGHT UP THE FUTURE
The International Star for Leadership In Quality Award presented by Business Initiative Directions (B.I.D) recently held in Paris was participated by companies from 117 countries. During this time, participating leaders from all manner of industries had
submitted their proposals and among the few who triumphed were the HR Group, one of Malaysia's leading and fastest growing property developers with interests expanding out to China, the UK and Oceania. Over the years, the company has displayed prodigious strength in management quality, bringing success and profitable ventures through its numerous undertakings with The Yuk Tung Group, which today is yet again recognized internationally via this prestigious Star Quality Award.
The criteria for being awarded an International Star Leader in Quality Culture (ISLQ QC100 certification) involved demonstration of excellence in the designated industrial sector exhibiting increased market share, improved results and sustainability. This prestigious award, given to leaders by leaders is created by 26 media publications from around the world that orient themselves towards change and market trends, with special focus on innovation, growing brands, technology, and new products, covering
a multitude industries from property development and manufacturing to business and finance.
After months of vetting, the gala presentation was finally held at the Concorde La Fayette Hotel in Paris and the cited qualities for HR Group included valuing customer satisfaction while obtaining positive business results; meeting quality levels; encouraging teamwork for decision making; satisfying the needs of clients and meeting their expectations; providing human resources, both technical and economic to achieve continuous improvement for the environment; managing human resource
to achieve maximum potential; and making employees aware of the importance of the most profitable areas of activity in order to achieve the best business results.

Last time I asked them, they said still got few not yet sold but now all sold out for SOHO phase one.
Btw, if anyone got some picture of the current development / construction, can post it here as well ya.

Every time also at Carrefour mid valley outside

From The Star Advertisement
http://yuktung.com.my/pdf/ad_20120808_TheStar.pdf

INVITATION TO THE LAUNCHING of THE COURT Service Apartment,
Central Residence @ Suria Sungai Besi, Kuala Lumpur

DATE : 11August 2012 (Saturday)

TIME : 10.00 am – 6.00 pm (Refreshment will be served)

VENUE : Shangri-la Hotel , Kedah & Selangor Room, Basement II, 11, Jalan Sultan Ismail ,50250 Kuala Lumpur

SPECIAL EVENT
Event 1:
Property Outlook 2012 : by Mr Ho Chin Soon 11.30am & 2.30pm

Event 2:
Maybank Property Financing Solution 2012:
by En Masrul Affendy Manager, Business Relationship-
Consumer Finance, Community Financial Services 12.00noon

Feel like going and listen to Mr Ho Chin Soon expertise view about this project and Sungai Besi Area.

I did not go that property outlook talk

Anyone went?
What's the property outlook 2012!????

Any update for the latest launched the court serviced apartment??

How is their selling??

more discussion here
http://forum.lowyat.net/topic/2202643/all

I just booked one unit at Mid Valley yesterday. Now waiting for bank loan approval.....hehe.

ohh, they still set up the booth next to carefour there?

yup....i think still have some unit where some owners can't get through bank loan approval. I am still waiting for bank call too.

Updated News from article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 923, Aug 13-19, 2012

http://www.theedgeproperty.com/news-a-view...ala-lumpur.html


City&Country: Yuk Tung maintains niche in Greater Kuala Lumpur

By Haziq Hamid of The Edge Malaysia
Sunday, 09 September 2012 00:00

It was niche developments in Greater Kuala Lumpur that helped establish Yuk Tung Group in the local property sector. It has completed 10 projects in the last 10 years and raked in more than RM1.5 billion in sales in the last five years.

According to its managing director Tan You Hock, the group was formed 10 years ago through a merger between HR United Sdn Bhd, which was facing financial difficulties at the time, and Yuk Tung Group Sdn Bhd.

“We felt that as a group we were expanding into something bigger and better. So we decided to merge while maintaining HR United and Yuk Tung as separate entities, but under the Yuk Tung banner,” he explains.

The merged group’s maiden project was Suriamas Apartments in Bandar Sunway in 2005.

Yuk Tung built its presence in the property business over the years and by 2012, three of its developments — The Peak, a gated and guarded residential project in Cheras, Kiara 3 condominium in Mont’Kiara and Central Residence in Sungai Besi — had won awards.

“We are a niche developer, we don’t have big townships. Our projects are located in Greater Kuala Lumpur and most of them are pocket developments,” explains Tan.

Currently, Yuk Tung is keeping itself busy with a development each in Shah Alam, Selangor and Mont’Kiara and Sungai Besi in Kuala Lumpur.

The Shah Alam project, dubbed Menara U, is on 2.26 acres of leasehold land in Section 13. It is being developed in two phases — Menara U1 and Menara U2.

Menara U1 comprises a 27-storey serviced apartment tower with 531 residences and 38 retail units. The serviced apartments have built-ups of 527 to 622 sq ft and are priced at RM240,000 to RM290,000 (RM450 psf to RM480 psf). The retail lots have built-ups of 1,700 sq ft to 2,500 sq ft and prices from RM1 million to RM2.4 million.

The 1.47-acre Menara U2 consists of 474 small office home offices (built-up: 450 sq ft onwards). They are priced at RM237,000 to RM264,000 (RM527 psf to RM588 psf).

Menara U1, which was launched in November 2010 and is sold out, is expected to be completed in June 2013. Menara U2, which was made available to the public in October 2011 and is 82% sold, is set to be completed in December 2014.

In Mont’Kiara, it is developing Richmond, a condominium tower offering 160 units with built-ups of 1,518 to 5,349 sq ft. Prices range from RM750 psf to RM800 psf. The 0.809-acre freehold project was launched in June 2011 and has since achieved sales of 65%.

Central Residence
Called Central Residence, the 4.16-acre freehold development coming up in Sungai Besi is the largest of the three projects. It comprises SoHos, serviced apartments and shopoffices and has a gross development value of RM400 million.

Central Residence is being developed in three blocks. The first consists of 526 SoHos (built-up: 565 to 956 sq ft) that are priced at RM362,565 to RM569,205. This block was launched in September 2011 and has a take-up rate of 90%.

The second block — 27 storeys high and called The Court at Central Residence — was launched on Aug 11. It offers 365 serviced apartments (built-up: 845 to 1,089 sq ft) that cost RM486,000 to RM700,000 each. Facilities at The Court include a sky lounge, swimming pool, sauna, roof garden and an amphitheatre.

Open for registration and targeted for launch in the third quarter of the year, the third block offers 168 serviced apartments. It is expected to be completed in October 2014.

“Central Residence is considered very close to Kuala Lumpur. We consider this project to be well within the KL city area. The locals might say Sungai Besi is far off, but it is not. It is nearer to the KL city centre than Mont’Kiara,” Tan points out.

“Response to this project has been good, especially since the old Sungai Besi airport site is to be redeveloped into Bandar Malaysia and the Jalan Cochrane area is to be transformed into a new financial centre. Our project is a mere five minutes from these places.”

Tan is targeting young homebuyers for this project. “I would say that 35% to 45% of our buyers are young adults or parents buying for their children.”

Port Dickson Project
Early this year, Yuk Tung purchased a 75-acre (30ha) leasehold parcel with a mix of commercial and residential land in Port Dickson, Negri Sembilan, at an undisclosed price. The land is located next to the waterfront marina. Tan says the developer is still planning the project for this site and will submit a development plan soon.

“The land was reasonably priced and we are inclined to go for a hospitality project on the site. We might develop a hotel, theme park or marina. Definitely something interesting and fun targeting the young market.”

He adds that due to the location of the parcel off Jalan Pantai, he sees the potential to tap the Singapore market.

“The land is not only located next to the waterfront marina, but we can tap the Singapore market, especially with the establishment of the proposed Kuala Lumpur-Singapore double-tracking railway line. Once you have this fast train, you are talking about Kuala Lumpur to Singapore in 1½ hours. We feel that there is potential to tap Singapore’s overflowing market. For instance, the Chinese who come to Singapore will definitely come to Malaysia.”

Royce Residence
Yet another of Yuk Tung’s upcoming developments is Royce Residence. Comprising two blocks of serviced apartments in Jalan Yap Kwan Seng, near the KLCC area, the 42-storey Royce Residence has 440 serviced apartments. It is coming up on 7.82 acres of freehold land.

Tan says the developer has been wanting to officially launch Royce Residence for about a year now and has not decided whether to keep the project as an investment or sell it.

“We may keep it as an asset for recurring income. We have spoken to two or three serviced apartment operators in the market and they have presented some proposals on how to run them. We have yet to decide.”

He adds that it is possible to convert the two towers into a hotel as well. The developer is talking to investors and engaging the market for possible opportunities. Yuk Tung has also received a proposal to buy Royce Residence but Tan says the developer is unlikely to sell it.

According to Tan, the group has been invited to be involved in redevelopment projects in the Klang Valley and Penang. “We have submitted our proposals. One is pending while in another, the landowner had a last-minute change of heart.”

Tan, however, admits that Yuk Tung prefers to buy land and develop it on its own. “Redevelopment projects are not straightforward,” he explains. “They involve dealing with a lot of parties as well as authorities and our experience in development is limited, so we’re not keen on redevelopments.”
Yuk Tung will maintain its current strategy of being a niche developer until KL runs out of development land. “Then we will have no choice. But I think KL still has plenty of land. It’s just that the cost is very high,” remarks Tan.

Overseas Market
When asked about venturing overseas, Tan says the developer did explore foreign markets but decided against penetrating any of them. “We explored China but didn’t go in. All its developments are very big and we are financially not up to par.”

He maintains that Malaysia is still the developer’s preferred choice for property development and investment. “Personally, I feel Malaysia is a property haven. If the government promotes our market, the economy is good, our country is politically stable and our streets are safe, foreign investors will come.

“For instance, Japanese investors are already coming into our market. This is due to the properties in Malaysia being reasonably priced and the market being stable. Our property prices rise 10% a year and with improvements in our infrastructure, Malaysia can market its properties to selected countries like South Korea, Japan and Hong Kong.”

With this in mind, the developer is keen on joint ventures with foreign investors to develop projects in the Klang Valley.


This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 923, Aug 13-19, 2012

any update from buyers? seems 90% sold but still not active in this forum .. .