The sun is cooperative; the skies blue. The venue: Forest Reserve Institute Malaysia (FRIM) in Selangor. It is against this backdrop of natural beauty that Dian Lee, eldest daughter of veteran property developer Tan Sri Lee Kim Yew, presents Clearwater Group’s upcoming and most ambitious property development project. Someone remarks during the two-hour photo shoot at the site that the poses struck by Dian and her team of ladies bear a resemblance to scenes from the popular TV series Sex and the City. But the likeness ends there. (more…)

By Sharen Kaur
sharen@nstp.com.my

THE market for residential properties has softened since the beginning of this year and is likely to continue into 2009, market experts say. The potentially negative influence on the sector is supply, said real estate valuer Regroup Associates Sdn Bhd executive chairman Christopher Boyd.

In a recent survey undertaken by Regroup, it showed that there is an existing supply of 19,183 condominium units in Kuala Lumpur, with 13,902 units more under construction.
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22-08-2008: Selangor Dredging sees challenging FY09
by Yantoultra Ngui Yichen & Venus Hew

KUALA LUMPUR: Property developer Selangor Dredging Bhd (SDB) expects the remainder of its fiscal year ending March 31, 2009 (FY09) to be a challenging time, given rising development cost and interest rates that dampen demand for property.

“Due to the general slowdown in the economy, we have to be selective as to when to launch. Our immediate launch is in Ampang (by year-end), and by the first quarter of next year, we’ll be launching our next Singapore development in Gilstead,” said its managing director Teh Lip Kim.

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Clearwater Development will be launching their next development called Clearwater Estate at Bukit Tunku, an exclusive five villas only development. Their first maiden development is Clearwater Residences in Damansara Heights, launched last year and was sold closed-door. Utilizing their best assets to promote this new development, they have of course opted to splash Dian Lee, the 24-year old daughter of property tycoon Tan Sri Lee Kim Yew, on the cover of City & Country (The Edge) issue this week. She is the founding partner of Clearwater Development together with Sim Boon Yang, a Singapore-based architect. Here are some of the details of Clearwater Estate.

• Comprises five individually crafted villas, inspired by five different art movements
• Sits on 15,000sf plot, built-ups ranging from 16,000 to 19,000sf
• Each villa spread over four levels, with uninterrupted views of KL skyline
• Each villa will house six bedrooms, a covered garage, a car lift, a passegner lift, home theatre, home spa, walk-in wine cellar, a lap pool, ‘floating’ pavillions
• Launch date: 8th August 2008

Indicative price at RM1,200psf to RM1,500psf. That’s about RM20million for each villa. More photos after the jump

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By Tim Leonard (The Edge)More forward purchases and higher benchmark prices are expected in the sale, purchase and rental of office space in Klang Valley this year. Knight Frank Malaysia’s executive director Sarkunan Subramaniam, presenting The Edge/Knight Frank Klang Valley Office Monitor for 4Q2007, says the lack of premium office space in the Klang Valley will also be a contributing factor towards the downward movement of yield compression.

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