Any progress update at promenade 8 waterfront?

Friday June 21, 2013

Cyberjaya continues to focus on sustainability as a key economic driver
By JOY LEE
joylmy@thestar.com.my

A view of Cyberjaya on a clear day.
AWARENESS about sustainability is growing among urban populations and this is driving cities around the world to establish their “green branding”.

While some cities are merely scratching the surface on going green, many are coming to the realisation that creating a smart and sustainable city means attaining a high level of economic efficiency and quality of life in a desirable place to live and do business.

And this comes with a meaningful commitment to environmental responsibility.

As countries around the world become increasingly conscious of the economic benefits of addressing environmental issues, major cities are becoming the new frontline in their efforts to go green.

In Malaysia, Cyberview Sdn Bhd has been tasked to drive the green agenda in Cyberjaya, which was accorded pioneer green city status in 2010 when the government acknowledged green technology as one of the new economic drivers for the country.

“In today’s global economy, national and international efforts to promote green development as a new source of growth have intensified in recent years. We are on the road towards evolving green technology further as a way of life and a catalyst for new economic growth.

“We are now embracing this concept and acknowledging some of the benefits associated with it. Sustainable economic development is an important agenda in our long-term plan and it is essential not only to ensure a continuous growth for the future, but also to support the sustainability of the country economically, socially and environmentally,” said Cyberview managing director Faris Yahaya.
Solar-powered street lamps (above) are an example of an environmentally friendly initiative that would help lower the use of electricity.
Cyberjaya was launched in 1997 and Faris noted that there were already plans then to make the ICT hub a green city.

Some 30% of Cyberjaya’s 7,000 acres is reserved as a green lung and the hub has committed to reduce 21% of carbon emissions by 2020.

Cyberview is also working with the Energy, Green Technology and Water Ministry as well as other stakeholders in Cyberjaya to develop the Low Carbon City Framework 2020.

Cyberview has also collaborated with various partners to launch several green initiatives in Cyberjaya, including fitting solar panels on bus shelters and carparks, installing composting machines and setting up of GreeNomad kiosks, which utilise innovative green technology.

However, Faris points out that the green initiatives are not merely a matter of following the lastest trend as more multinationals (MNC) and, small and medium enterprises (SME) in Cyberjaya realise that they need to meet carbon targets and build business confidence in order to pull in more sustainability-based investments.

Additionally, sustainable practices also make economic sense, Faris added.

An example is Cyberview’s partnership with Europe-based Cofely GDF Suez. The partnership formed Pendinginan Megajana Sdn Bhd, a local district-cooling system provider in Cyberjaya.

The district cooling system generates chilled water for air-conditioning requirements within an area. Megajana currently has two plants that serves 37 buildings in Cyberjaya and plans are afoot for a third plant thanks to growing demand.

Megajana’s general manager Azharuddin Ismail said having a district-cooling system helps reduce energy costs for its clients.

“It is environmentally friendly and uses 40% less electricity than traditional cooling systems. The district-cooling system can reduce annual CO² emissions by about one tonne for every tonne of district cooling refrigerant demand served. It is also 40% more efficient and requires lower capital costs from building owners,” Azharuddin said.

Cyberview has allocated more than RM400,000 for more green initiatives this year.

Faris says Cyberview’s immediate focus is the implementation of “low-hanging-fruit” initiatives and would continue to grow its expenditure after more projects are confirmed.

Cyberjaya’s gross development value for the next five years is expected to be at RM20bil with Cyberview pouring in some RM8bil in investments during the period. Investments in Cyberjaya since 1997 total RM32.6bil.

Currently, Cyberjaya houses more than 700 companies (35 of which are MNCs) and a population of about 55,000 people. Population is expected to double by 2017 with the robust developments in the ICT hub.

“In achieving the green vision, companies in Cyberjaya are also enforcing best-planning practices and striking a balance between development and the environment. The sustainable eco-system enables these companies to grow progressively,” said Faris.

Data centre CSF Group plc president and chief executive officer Adrian Yong notes that sustainable practices have not only established a healthier and more enjoyable work experience at the company, but also earned it the Frost & Sullivan 2013 Data Center Service Provider of The Year award.

“One of our primary initiatives was to provide an indoor air quality assurance in the data centre area for better comfort for those who need to work in there for an extended period of time. We also installed autonomous lighting controls to ensure minimal electricity wastage and tweaked our plant rooms to include segregation of cooling and ventilation and right-sizing the electrical power used for protection of equipment,” Yong said.

The group’s facility, CX5, is the first data centre in Malaysia that has been awarded provisional Green Building Index certification.

Cyberview also expects more green projects in Cyberjaya in the future including the Centrus Mall by Setia Haruman Sdn Bhd and Setia Eco Glades development by SP Setia Bhd.

Setia Eco Glades sits on a 268acre site in Cyberjaya. SP Setia has reiterated its commitment to promote sustainable development with a masterplan that adheres to Green Building Index certification criteria.

Faris says all the initiatives are in line with the government’s aspiration to turn Cyberjaya into a pioneer green townships and as a showcase for the development of other townships.

“Cyberjaya Malaysia is proof that so much can be achieved with likeminded partners who are committed to creating a healthy and green city,” he said.

was one of the 1st batch of MMU (then Telekom Uni) students in Cyberjaya more than 13 years ago!! Graduated and left cyberjaya, never returned.

Just took a ride to visit cyberjaya again this week to find the site of Cristal, jaw dropped looking at the developments that is now in Cyber...

I think this can be the next Setia Alam... can it?

Anyone staying in Cyberjaya can give some pointers? or 16 Siearra?

Cyberjaya and Setia Alam are two different type of township la.....
They are not on the same par...not even close ler ooi abang ......

Property cheong in short term?

Bank Negara is studying the risks arising from DIBS with a view of potentially imposing curbs on it
Posted on June 25, 2013 - Featured, Property News.
By GURMEET KAUR
gurmeet@thestar.com.my

PETALING JAYA: Bank Negara is studying the risks arising from the developer interest-bearing scheme (DIBS) with a view of potentially imposing curbs on it, sources said.

Although it is unclear if or when such curbs would be put in place, Hong Leong Investment Bank (HLIB) said that it may be “later this week”, adding that such a move would be a negative for future sales in the primary property market.

Other industry players think that the measures might be introduced in the second half of the year.

DIBS has become a popular easy financing package offered by property developers in joint-promotion activities with banks in recent years.

Under the scheme, buyers need not fork out much initial downpayment to buy properties, as the developer supposedly absorbs the initial interest. This is until the buyer takes possession of the property.

A high number of buyers enter this scheme with the intention of flipping the property when they gain possession of it, making a profit without having to come up with much capital in the process. Such a scenario fuels speculation.

“Typically, under the scheme, buyers only foot between 5% and 10% of the house price upon signing the sale and purchase (S&P) agreement and only begin payment when the project is completed,” a property consultant told StarBiz.

“There are caveats to this scheme, as buyers commit to a financial obligation upon the signing of the S&P and the interest cost has actually been already passed on to buyers via the higher selling prices.”

DIBS is mainly offered to the high-rise residential segment. Some property consultants have opined that the presence of DIBS in the market has caused prices to be set on an artificially higher trajectory.

Notably, the Singapore government banned DIBS in 2009.

“While the exact measures are yet to be revealed, we believe the curbs would impact this easy financing scheme,” HLIB said in a note yesterday.

According to analysts, most of the sales in the recent property bull cycle were tied to the attractive DIBS scheme at the expense of the secondary property market which has remained sluggish. And given the persistent rise in household debt, the Government is mulling over measures to limit it.

“In the recent past, Bank Negara has been compiling information on the scheme and studying its impact on the sector,” a source said.

Bank Negara had yet to respond to StarBiz’s queries as at press time.

“The difference between the non-DIBS and DIBS pricing can range from as low as 5% to as high as 30% if other incentives like early-bird discounts, stamp duty waivers and cash payments are taken into account,” said Elvin Fernandez, managing director of Khong & Jaafar group of companies.

He advocates regulators to compel developers to be transparent on the various incentives, as it may be difficult to do away with DIBS packages.

“Developers should inform buyers and bankers of the actual value of the discounts they are getting so that house buyers know the true value of the house they are buying,” he said.

UOB Kay Hian Research noted that new launches in selective high-rise projects in the suburbs of the Klang Valley were transacted at over RM1,000 per sq ft (psf) vis-a-vis RM450 psf two years ago.

“Household debt has risen to 80.5% of nominal gross domestic product as at end-December 2012, up from 60.4% as at end-2008.

“We also note that outstanding banking sector loans in the household sector has risen 3.6% year-to-date as at end-April to RM638.5bil from RM616.5bil as at December 2012. As the rise in consumer credit is partly linked to housing, curbs may be introduced to dampen speculation,” UOB Kay Hian said in a report yesterday.

On the financial impact of curbing DIBS on property companies, HLIB said that it would be “negative for future sales in the primary market but the extent of damage varies with the degree of exposure to the high-rise segment for each individual developer”.

UOB Kay Hian reckons that if DIBS or similar schemes were to be tightened, it could “significantly dampen new property launches as speculators will be filtered out”.

The company also does not rule out the possibility of a further upward revision in real properties gains tax (RPGT) to dampen speculation.

In Budget 2013, the Government had raised the RPGT for the second time since 2011, stipulating a 10% to 15% tax for the disposal of properties within two years of purchase, and 5% to 10% for the disposal of properties within three to five years. However, properties sold five years after purchase are exempted from the RPGT.

Fast leg fast hand implement leh. I want to buy discount highrise for rental.

xyyap noblebaby Soros007 blowwater101

Hi cyberjaya sifus, is there any landed DSL that are available?

me small prawn wanna have a look.

thanks for the link blow. im newbie to cyber. There is no less than 1mil for landed. It seems cyber is poised to be high-end residential area. Oversupply on highrise.. no middle class property, 600k to 700k. i m presuming high risk investment, with possibility of low return, lesser purchaser. those can only can afford less than 1 mil can only settle in condos. 

last time I saw someone let go Serin Res by less than rm500 psf....good buy...but I not sure if serin is good...

Personally I think condo within the mixed development is better as the developer cant abandon the condo bcos of the nice landed property and take k of the entire project. another point is u can enjoy million dollar club house, landscaping & facilities even tho u just stay in a condo. (mirage for eg. 400++ unit condo, 60++ villas share the entire landscaping & facilities)

I just saw many old condo not manage well by the management after some times...thats y i prefer condo in mixed development.

Do u happen to know the launch price bro?

Malaysia PSI:

http://www.doe.gov.my/apims/

finally i had gone through fr page 1 to 213! It took me 1 week.
xyyap, soros007 and noblebaby...three of u really awesome! learned a lot new info from this topic...thanks for all the precious sharing! keep it on!

duplex 795sf, partly furnished ..rm583k..after 17% disc , rm489k...dibs...
they say 2nd phase, price will go up 10%..

earlier it was with 3 carparks..but yesterday SA called n apologies as it was only with 2 carparks..

thus, if i want to cancell booking, they willing to give me full refund on the booking...

if this is not a good buy...i want to take the opportunity to cancell booking as i dont loose anything

really appreciate all taikorrs advise ...

(i only read thru this forum after i placed booking ...so not smart of me )

project expected to complete in 2017...betting cyber will be matured a bit...so the environment/facilities for own stay should be just nice  rite?

but if for investment, reading thru propcafe...scared la pulak got no tenant -- the oversupply issue predicted...

3 good condo for own stay asking RM 600k+:
1. Mirage by The Lake
2. Cristal Residence (BUT developer risk?)
3. Verdi @ Symphony Hills
4. MCT Lakefront (BUT too many?)

loan can go up to rm500k only..cannot go more than that..not that kaya yet ....
(and dreaming very high like one kaya man by trying to have a property in cyber )

looking at subsale..entry cost oso high...

googling n searching rite away !!

but what about the 'too many' concern ?
own stay ok..but for investment, the fight will be tough?