Legoland aims for one million visitors

Siegfried Borst (left) and Zainal Ashikin Muhammad Rejab looking at a model of pre-war shop houses made of Lego bricks.

NUSAJAYA: Legoland Development, the operator of Legoland Malaysia Theme Park being built here, expects to see one million visitors passing through its gates in the first year of operations.

Legoland Malaysia Project senior director of operations Siegfried Borst said the company was confident of achieving the target based on the high number of family institutions in the region.

He said unlike in developed countries where the birth rate was declining from year to year, most Asian countries still recorded high birth rate.

“Our theme park targets families with young children aged between two and 12 years old and this demographic serves our business strategy well,'' said Borst.

He was speaking at a press conference after a tour for the media to preview the ongoing development at the Legoland site.

Borst said work on the RM720mil project was progressing well and the theme park was expected to open its doors to visitors towards the end of 2012.

The 26ha theme park will offer 40 interactive rides, shows and attractions. It is located in the centre of a 59ha site in Medini North, a zone dedicated to lifestyle development.

Legoland Malaysia Theme Park is the first component to be developed within Legoland Malaysia Resort. The whole project will also have a retail mall, themed hotel, business hotel as well as office and residential areas.

“We are yet to determine the entrance charges. Our next priority is to talk with potential trade partners to market our park,'' he said.

Borst said unlike other Legoland theme parks which only operated eight months a year and closed during winter, Legoland Malaysia would operate all-year round.

He said the main challenge in developing the park in Malaysia was the “sun and rain”, thus more covered pedestrian walkways needed to be built and trees to be planted.

The other Legoland theme parks are Legoland Billund (Denmark), Legoland Windsor (near London, Britain), Legoland Deutschland (Germany) and Legoland California (the United States).

Legoland Malaysia will have miniature replicas of iconic buildings and structures from across Asia. These include Petronas Twin Towers and India's Taj Mahal.

IDR Resorts director Zainal Ashikin Muhammad Rejab said Legoland Malaysia would create about 1,000 jobs for locals and bring spillover effects to Nusajaya. IDR Resorts is part of Iskandar Investment Bhd (IIB).

IIB had, in December 2008, signed an agreement with Merlin Entertainment Group, which will design and operate Legoland Malaysia.

Zainal said with the opening of Legoland Malaysia, IIB would position Medini North as a tourism hub in the 9,712.45ha Nusajaya.

“An indoor theme park is also coming up at Puteri Harbour just a few kilometers away from Legoland Malaysia and both parks will complement each other to attract visitors,” he said.

The government-backed IIB was formed on Nov 3, 2006 to drive commercial initiatives in Iskandar Malaysia via joint ventures and by offering its land.

By The Star

New development planned for Jelutong

The thriving Penang property market has gotten off to a robust start this year with a new development planned for Jelutong.

Tambun Indah Land Berhad has proposed to acquire the entire equity of Premcourt Development Sdn Bhd, and will undertake a mixed strata development project in the area through Premcourt.

The project, with a gross development value (GDV) of RM180mil, involves a 1.69ha piece of land in Jelutong.

Tambun Indah managing director Teh Kiak Seng said the project was located “in the heart of the island” and would feature modern apartments, office suites and shoplots to meet the demand for commercial and lifestyle properties in the central business district.

“We anticipate to commence development in the fourth quarter of the year.

“Targeted completion is by the fourth quarter of 2014,” he said in a statement.

Teh said he was optimistic on the outlook of the Penang property market in light of the government’s commitment to continuously improve the infrastructure and provide incentives to attract corporations to establish and expand their facilities in the state.

He said besides Premcourt, Tambun Indah had proposed to acquire Pridaman Sdn Bhd and Ikhtiar Bitara Sdn Bhd.

“Pridaman and Ikthiar have landbanks on the mainland.

“The purchase consideration for the acquisition of all three companies is RM11.6mil which will be through internally-generated funds.

“Development projects via these companies are expected to contribute approximately RM38.7mil in pre-tax profits from 2011 to 2014,” he said.

He said the proposed acquisitions would increase the group’s GDV by RM245mil and its landbank to 96.3ha.

The layout plans for the projects in Pridaman and Ikhtiar Bitara have received the necessary approvals from the relevant authorities and work is expected to commence soon.

By The Star

Changing the face of Putrajaya

Towering: Skyscrapers in Putrajaya as seen from a distance.

The concept of Putrajaya is slowly changing with skyscrapers being built and Perbadanan Putrajaya (PPj) said the federal administrative capital was never planned as a low-rise development.

PPj City Planning Department director Omairi Hashim said Putrajaya was planned as a compact city especially on the Core Island where most of the ministries and goverment departments were located.

The buildings in the Core Island of Putrajaya are mostly five-storey tall.

Omairi said skyscrapers were the latest development and the masterplan was approved by the Cabinet in 1995.

“The skyline of the city along Persiaran Perdana (Boulevard) will rise to the maximum height of 40 storeys, becoming the landmark in the city,’’ he said.

He added that the development was being undertaken based on approved layout plans as set out in the Putrajaya Master Plan (PMP).

The master plan covers land use, categories of buildings, hosuing estates, mixed-use development as well green areas in Putrajaya.

Development on Core Island is based on plot ratio, gross floor area, building height and typology of each plot.

Omairi said building height was used to create an urban ambience at the Core Island.

“The PMP has always considered the ‘Flying Path’ determined by the Department of Civil Aviation and as such the buildings will be within the gazetted maximum height,’’ said Omairi.

Six skyscrapers, including four government buildings, are now being built in Precinct 4 and two in Precinct 5.

Omairi said apart from the Putrajaya Core Area, there were five main precincts which are designated as Putrajaya Core Area — Precinct 2, 3, and 4 in the Core Island and Precinct 1 and 5.

“The different height of buildings at the Central Business District (CBD), particularly along Persiaran Perdana (Boulevard) which links all the precincts on the Core Island are planned to create an interesting skyline,’’ said Omairi.

He said the building height of between 18 and 20 storeys in Precinct 2, would be scaled down to about 15 storeys in Precinct 3 and increased to a maximum of 40 at the southern Boulevard.

A long-time resident said he thought Putrajaya was meant to be unique with low-rise development.

“The tall buildings should not be along the Boulevard.

“The Putrajaya International Convention Centre (PICC) which was visible from the Prime Minister’s Office, is now partly blocked by the skyscrapers.

“The area has lost its uniqueness. Even the beauty of the Seri Gemilang bridge is lost,’’ said the resident.

He said the uniqueness of Putrajaya were the architectural buildings and the bridges and adding tall structures had defeated the purpose.

As for the Peripheral area, the approved building height for commercial development is between two and four storeys, while high-rise apartments will be allowed a maximum of 17 storeys.

By The Star

Red Carpet Boulevard designed by French architect

Dynamic: Red Carpet brings the outdoors, indoors to visitors.

In May, 500,000 Klang Valley residents and the immediate population of Kota Damansara will be in for a fresh and exciting experience when Encorp Strand launches Red Carpet Boulevard.

Inspired by the famous Champs-Elysees in Paris, Encorp Berhad’s Red Carpet Boulevard has been crafted by world-renowned French architect Nicolas Ayoub with a contemporary twist.

Its sculptured tree lines, French cafe-styled dining outlets and magnificent lights along the 800ft-long and 90ft-wide Red Carpet Boulevard are reminders of the elegant Parisian boulevard, while its glass canopy, suspended ‘flying’ red carpets above and climate-controlled environment provide a contemporary touch.

“The essence of Red Carpet Boulevard can be summed up in one word — experience. It is a versatile concept built around the experience of life and celebration, and an inspiration of Paris as an ‘emotion’ rather than a ‘city’. We can adapt this to the Malaysian culture because Red Carpet is all about the feeling of an experience,” says Ayoub.

The luxury in this landmark development is also the use of space, not just external but internal as well.

“The space at Red Carpet is dynamic rather than static. This flexibility is what we call ‘living space’, which is ideal for dining and entertainment in an urban setting. Red Carpet brings the outdoors, indoors to visitors. It is a unique embodiment of French cafe culture, combining exciting gourmet adventures with entertainment. It is a place to see and be seen, just like the Champs-Elysees!” added Ayoub.

Red Carpet Boulevard will be the longest and widest alfresco boulevard ever built in the Klang Valley, and it is poised to take its place as the most exciting dining and entertainment spot in the popular and prime “Damansara Belt” of Petaling Jaya.

The F&B outlets fronting the boulevard are second to none, providing alfresco dining and entertainment at its best. The boulevard has been designed to provide communities with a new experience in dining and entertainment. Although typically French in design and inspiration, the offerings will have an international flavour by F&B tenants offering a variety of cuisines and concepts.

A major attraction for Red Carpet Boulevard are its variety of both local and international thematic events and entertainment, which are currently being planned.

Red Carpet Boulevard is events-ready. Facilities such as state-of-the-art sound system,specially designed lighting and fibre optic cables have been seamlessly embedded for a complete ‘plug & play’ experience for those who wish to hold events such as performances, film premiers, fashion shows, product launches as well as music and cultural festivals. The entire Red Carpet area will also be equipped with high speed broadband infrastructure, offering free Wi-Fi access to its visitors.

“Red Carpet Boulevard is going to be a breath of fresh air simply because of its unique experience. What we are offering is essentially a winning combination of a complete dining and entertainment experience, which will be evident at every touch point when you first enter the Boulevard,” said Encorp’s executive chairman Datuk Seri Effendi Norwawi.

The immediate population within a 5km radius of Encorp Strand has a high average annual population growth rate, registering 10.9% between year 2000 and 2007 and it is projected to rise to over 500,000 by this year. A rapid growth of population in this area is expected due to the active residential development in this blossoming township and its surrounding neighbourhoods such as Mutiara Damansara, Taman Tun Dr Ismail, Desa Park City, Damansara Perdana, Sierramas, Valencia, Mont’ Kiara and Sri Hartamas. These communities have an above average spending power and tend to have greater expectations on quality shopping, dining, leisure and business activities.

More To Come At Encorp Strand

More components are progressing well at Encorp Strand, namely Garden Offices, the shopping mall and residences, all of which will transform this integrated development into a complete living, working, shopping, dining and entertainment experience.

Garden Office, which will be ready by 2012, is a unique vision for contemporary office space, where every unit as a corner unit and offers flexibility for both small and big business outfits. It has been designed with sky gardens on all blocks and 150-metre Skywalks, as well as green concepts and features such as rain water conservation, and natural sun shading.

The centre of attraction at Encorp Strand will be the lifestyle boutique neighbourhood shopping mall, which is expected to open in 2012. Offering the best selection of dining outlets, bistros, lounges and entertainment clubs of international standards, the European-inspired mall embodies an atmosphere that combines perfectly with the outdoor experience of the Red Carpet Boulevard.

Encorp Strand has attracted key anchor tenants for the mall. These include a cinema, bowling alley, fitness centre and grocer.

The Residences, to be built just above the shopping mall, will be the icing on the cake.

Characterised by its French architectural style, the 35-storey residential tower will exude high-end comfort, service, security and luxury with panoramic city views.

Residents will have the luxury of a complete 360 experience in their own backyard, complete with clubhouse amenities.

By The Star

Mah Sing may spend RM1b on properties

Mah Sing Group Bhd, the Malaysian developer that spent the most on land acquisitions in 2010, said it may pay more than RM1 billion (US$330 million) for new sites this year as the fastest growth in a decade spurs sales.

The developer is seeking to buy land with potential sales valued at RM7 billion to RM12 billion, managing director Leong Hoy Kum said in an interview in Kuala Lumpur yesterday. The properties, which will also include commercial buildings, will be developed in the next five to seven years.

Mah Sing is boosting acquisitions as home prices climbed 6.2 per cent to a record in the third quarter, according to government data. Mah Sing spent RM756 million buying 285 acres of land last year, more than double its 2009 investments and beating Malaysian rivals as it bet on increasing property demand with government efforts to boost economic growth.

“We have a war-chest of RM777 million to spend, land banking is part of our aggressive expansion strategy,” Leong said. “The economic outlook remains bright and consumers are more willing to buy big-ticket items like properties.”

Loans disbursed for home purchases in Malaysia rose to RM5.66 billion in December, the highest recorded in nine months, central bank data showed.

Shares of the Kuala Lumpur-based company have jumped 44 per cent this year, the best performer on the FTSE Bursa Malaysia Top 100 Index, which rose 0.9 per cent. SP Setia Bhd., Malaysia’s biggest developer by sales, climbed 6.2 per cent this year.

‘Big League’

“Mah Sing’s aggressive land-banking exercise will catapult it into the big league, making it too big for investors to ignore,” said Terence Wong, an analyst at CIMB Group Holdings Bhd., who rates the stock “outperform.” “For sales to climb over the longer term, it needs fuel to sustain that growth, which means it will have to keep expanding its land bank.”

Prime Minister Najib Razak’s government unveiled an economic transformation program in September aimed at attracting investment, including US$444 billion of programs this decade ranging from mass rail to nuclear power, led by private and government-linked companies.

Malaysia’s economy expanded 4.8 per cent last quarter, spurring full-year growth to the quickest pace in a decade and putting pressure on the central bank to take more steps to curb inflation. The central bank also placed a limit on the loan-to- value ratio for third mortgages in November, which Mah Sing said hasn’t derailed its investment plans.

“There is no property bubble yet,” Leong said. “We’re not overly concerned about inflationary pressures. Inflation is still at a level where the central bank believes is within market control.”

Mah Sing is targeting property sales to climb to between RM2 billion and RM2.5 billion this year, he said. The company sold RM1.5 billion worth of properties last year.

By Bloomberg