Hi All,

I am newbie here. Hope can learn from all the sifu & master around. I have bought a 731 sqft at level6 facing swimming pool. I have signed my bank offer letter earlier before I signed my snp last week.


Hi Citydude,

I guess they are still selling the Central Residence Soho. According to their SA last 2 weeks, they have bulk (around 80 units) which were released out again due to loan rejected. But now, less than 10 units left. I am quite impressive with this developer (Yuk Tung Land/ HR Group) because they have sold quite some units to foreigner (according to the SA). Their Central Residence Courts for the first months sales is 30% sold. I feel that their SA are genuine in the sense that they are honest and telling the truth. Not like some SA from other projects claim that their units are almost sold out and push you to grab one before sold out. I think this project is the slowest in term of sales compare to the condo around Kuchai lama/Old klang road which are BBB mode either sold out/ or almost sold out as they claim....

Hi Citydude,

Me too. I kinda like the SOHO concept. My current office is at Damansara Intan and the built up around 500 sqft. 4 person workings. The rental here is not cheap. >RM 2,000 ++. It is a conventional commercial office building. I am dreaming how good if my boss willing to rent a SOHO unit at Central Residence (after completion) where the staff can enjoy all the facilities especially the sky gym/sky pool. Is a win-win situation. Is like giving Fitness Membership to the staff to enjoy the facilities like gym and swimming. The staff can also be healthy and can do something to avoid the peak hours jam.

Hi Citydude,

The trend has changes. Mostly buyer for the central residence are youngster. They don't mind their units are facing cemetary. There are a lot of people condemn this projects saying that facing cemetary and is used to be abandoned project. Abandon projects already bring bad luck to previous developer and now sure will bring bad luck to current developer. The fact is that 526 units of central residence soho is almost SOLD OUT. People buy the whole concept of development of this development.

I wonder if 196 hectare Bandar Malaysia @ sungai besi new and vibrant landmark reflecting the Greater Kuala Lumpur really put into construction, most of the high rise building will able to view the vast biggest chinese cemetary hill in KL/Sungei Besi. My question is , Will it drag down the price of the properties there? Will the developer lower down their selling price? Will people not buying?? I doubt the answer is 'NO'.

A cemetery view of course will definitely minus a point but people will still buy because if the whole concept of the development. That's why not everyone is rich. Only the people can see it as a gold will benefit from it. The poor will keep on complaining.

Hi All,

IMHO, I feel that the Central Residence is a good buy either for own stay or investment. I buy this Central Residence SOHO after consideration which I think is important to me beside the facilities that a condo should have.

1) The accessibility
I live in Sungai Long and I have to travel to KL (KLCC area) to send my wife to work before I go to my office (Damansara Intan). So, I need to passby the Central Residence construction site everyday. If anyone need to work around KL, I think this one of the best buy area. The reason is that you can reach KL (including Jam) between 20 to 30 minutes via Besraya Highway - Jalan Tun Razak - Jalan Ampang - KLCC (without stopping any traffic lights) during peak hours. Same goes when finished work, you need to jam a bit inside KL and is smooth all the way to your home via Besraya highway. (The Seremban/Melaka highway is very jam). I find this location is a lot better than the Leaf project opposite where you need to jam everyday going to work and going home by getting out of the traffic lights in front of the Leaf condo. If you stay in southern part of KL/Cheras, my observation is that during morning peak hours, there is a long jam along Jalan Cheras/Kajang ( from Jalan Sultan Ismail - Loke Yew - Leisure Mall - Batu 9 toll). It takes you at least 1 hour to reach KL. If you stay at Kepong/Selayang area , same goes to Jalan Kuching to reach KL (All the way jam from Kepong - Jalan Kuching – Duke highway interchange- Duta interchange - Jalan Sultan Ismail). If you stay at Damansara /PJ is also very jam to KL, the jam start near Tropicana Citymall - Phileo Damansara - Jalan Semantan - Mahameru highway - Jalan Tun Razak-KLCC). Anywhere going to/out KL is very jam during peak hours. Therefore, Central Residence is one of the choice nearer to KL if you don’t want to stay in KL.


2) Developer Credibility
Yuk Tung Lang/HR Group has been around more than 15 years and they register during the Asian financial crisis time, Feb 1997. They have gone thru few turbulence of crisis. Lately, they have been actively participate their projects in properties awards competition and manage to won a few since 2010. Their award winning projects such as The Peak and Kiara 3. Even this Central Residence manage to win 3 awards recently 2012 which surprise me (Best Apartment Malaysia, Highly Commended High-Rise Architecture Malaysia and Highly Commended Architecture Multiple Residence Malaysia). I think this developer wanted to raise their fame and credibility and to achieve a new height in future. I think Yuk Tung Land cashflow quite abundance. Actually , I have booked my units since Feb 2012 and only until last week around 18 June 2012, I signed my S&P. the developer really give ample of time to get my loan approve. They are now at piling stage and the SA told me they schedule to complete the whole development (Central Residence SOHO-526 units, Central Residence The Court – 335 units and Central Residence Central Centrina - 168 units by year 2015). They are not even selling the Central Centrina yet I dont know whether they are going to launch this 3th or 4th quarter 2012 or not) and they are now starting construction. They have another development, The Royce Residence at Jalan Yap Kwan Seng. They plan to sell it oversea due to the pricey price which mainly target foreigner. So, I will probably have the least worry that this project will be uncompleted within 3 years.

3) 2 Parking Lots
2 parking lots (in parallel) are provided for all units even the smallest unit 565 sqft. Some developers only provide 1 parking lot or even don’t provide any for smaller sqft units. Some even provide 2 parking lots in TANDEM. Tandem means = This is sometimes done with residential motor vehicle parking where two motor vehicles park nose-to-end in tandem. The first motor vehicle does not have independent access, and the second motor vehicle must move to provide access. As with attendant parking, the purpose is to maximize the number of motor vehicles that can park in a limited space. So, buyers need to check properly.


4) Green Building Index Compliant
Earlier, I am not aware that the developer is going to adhere to GBI which is an added advantage to this development. The developer has to fork out extra money to construct to GBI compliant. We as an owner has an extra point to rent out to the foreigners which are looking for a GBI compliant building instead of normal buildings.

5) Shuttle Bus Service
Even if you don’t drive or have no cars, you still can take the in house manage shuttle bus service to KLCC area, Terminal Bersepadu Selatan, etc.

6) Sky Pool/ Sky Gym/ Quadruplicate-height pocket garden
I quite like the concept of Sky Pool/ Sky Gym which only can be access by Central Residence SOHO resident only.

7) SOHO license
Allow you to operate as a small office.

8) A FREEHOLD KL Address
I have a friend who has a leasehold property still has another 30+ years before expiry. He has hard time selling the piece of property because the Bank rejected the potential buyer loan application due to the remaining years. On the other hand, he needed to pay very high premium to renew it. If there is better option, better go for freehold properties.

Hi Songaik,

Have you really been to the site and took a deep breathe there and smell the sewerage treatment plant?? The distance is at least 3 km away between the sewerage treatment plant and central residence. I think the most affected area will be Kuchai Entrepreneurs Park area if what you claim is true because it just opposite around 1 km distance. I don't smell anything unpleasant at that area which I often go. I do something drop by Salak Selatan Pasar (Behind the Leaf project) for makan and I don't smell anything there too. I think is better for the resident live around that area to clarify.

Hi Citydude,

Do you smell anything since you live at Midfields which is nearer to desa water park??

Hi Citydude,

Actually this morning, I been to the opposite road of the central residence actual site ( in front of the site can't stop due to traffic), I drop by for 15 minutes and I breathe the air. I don't smell "shit" at all but can smell a little bit of haze (today is a bit hazy). I even drop by at the Kuchai Entrepreneurs Park (Maybank) which is just opposite of the sewerage plant and I don't smell any 'shit'. So, at least can say that the 'shit' smell is not an issue at the area.

9th floor also can hear the traffic noise?? I thought the higher the level should hear lesser noise? But I know, night time will hear clearer bcos the air is less dense, so it able to transmit the sound ( wavelength) better.

Dear rumahrumah,

Since, this project is gbi compliant. The developer might use a better quality glass such as double glaze, low-e etc that can help to reflect uv sunlight and noise level. It is an add on and will enhance the building by the developer.

Yah, Yuk Tung Land Office is at 19 th floor, plaza See Hoy Chan at Changkat Raja Chulan and their sales showroom gallery is at opposite of Plaza See Hoy Chan which is Bangunan Kwsp top floor. Better to make an appointment with them if you want to visit their sales showroom gallery

---

Added on July 2, 2012, 6:31 pmYah, ur right, they release about 80 units due to loan problem. But according to the SA, now left few units.

---

Added on July 2, 2012, 6:44 pmAccording to the developer's lawyer, the previous abandoned development was related to agriculture. Now, Yuk Tung land has already convert to commercial status and already paid the premium and charge the land to Alliance Bank. Yuk Tung has already demolish the old existing building due to the current design don't suit. Central Residence has basement car park. Now, they are stacking big piles of rocks (They are testing the soil, I think so...). Piling will in progress soon. You need not worry, is a all new development (not continue from the existing abandoned project).

This post has been edited by jastan: Jul 2 2012, 06:44 PM

As you know, there are some projects which are just playing with sticker games. Some of the units being RESERVED by the agents, SA, VVIP and eventually it seem the projects are fully sold. This will worsen the situation if the Developer allow the buyer to change name if they want to cancel or loan reject. This will attract a lot of speculators that want to earn fast buck. Easy money with a few thousand ringgit by just booking a unit at the early birds stage and transfer the name to a genuine buyer before signing S&P. Is this often what we heard??

I fell that the current property development is stil sustainable. Our situation are different with US subprime problem. The bankers knew that their client are high risk group and they are wiling to lend them at higher interests rate. When most of the people started to default payment when the economy is down, thats where the problem begin. Our situation here is different, the banks evaluate their clients and have to meet minimum requirement before the banks approve the loans. As long as our economy is intact, the bubble won't exist. There are still a lot of high purchasing power buyer outside there although you see a steep hike in price these 2 years.

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

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.

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.

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.

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.

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.

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

central residence consist:

Central SOHO (Phase 1) - SOHO
Central Courts (Phase 2) - Service Apartment
Central Centrina (Phase 3) - Service Apartment