EPF has year been in carrying out investment , with the purpose to secure better return. Under its portfolio mix, property development accounts for 2% of the total return. It says by developing this piece of "satelite township" of Petaling Jaya, the RM3 billion land will reap a gross development value of RM10 billion.
From the norm and my educated experience (whom I have been in the property development for more than 20years, the land cost per development is 3 times higher than the norm which is in the region of 10% to 15% from GDV. If the land RM3 billion, I expect the GDV should exceed RM20 billion. The expected Gross contribution after the land cost should be RM4 billion (20%). It is not logical that the government to dispose, whereas the Government may be able to build more equitable township. I must say, we do not have a luxury space anymore for the kind of development style that happened in Shah Alam, Kota Damansara, Kota Kemuning, Bangi, Setia Eco Park, Bukit Tinggi Klang, Bandar Baru Selayang, etc.
WE MUST DEVELOPED A CITY with modernized situation and suit to the younger generation and thereafter. In the good old days, we build a lot of single and double storey terrace houses. We build 5 storey walk up apartment to cater for the lower income group. These apartment units are without lift. Many choose not to stay in these apartments. Instead, it houses with the immigrant and foreign workers. We should not build these kind of apartments anymore. We should not build too many of these single and double storey landed property. It curtailed too much of our valuable land.
In the past, we build roads and highways, thinking to alleviate and to reduce traffic congestion. We spend too much money in bothering the household and motorist. Instead, we neglect public transport. We do not build new railway line. Instead we choose to build more and more highway. We never develop enough of the public transport. There are too much of missing links among the public transport network. We spend too much money on locating the best possible toll motorway. Motorist in Klang Valley not less than RM200 per month ( on average for normal people living in Klang Valley).
Today, we have a situation to decide and to defend the right of our future generation. We must do it properly. If given to EPF, and like others, EPF too a profitable organization. They too will consider to reap the profit margin from investment. Are they willing to spend more money in preparing the infrastructure facility in catering the public transport. Are they willing to give ithe land for MRT/LRT line.
Many people look at thing in a specific picture. An investment is an opportunity to increase value of the investors. And many will look at the profit in cash, and neglecting the long range outlook and benefit from the investment. Many has assumed that the return in kinds is irrelevant. Putting a shoe on the hand of the administrator and politician, they will definitely look at the point of gaining more popularity rather than the number. Surely, if the land is disposed to EPF, EPF will definitely look at the profit and return. Knowing that the profit from the subsales of land in pieces, will generate handfull profit.
Mocking the change in prescription of political climate, our Premier mentions the Government will build affordable houses at a price tag of RM220,000.00 oer unit of house. Here, policymaker will force the developer to build more affordable homes. If Government choose to invest and build it, we can access to the land here in. Disposing to the public at a control price will definitely stiffened the price upward movement of houses in Klang Valley.
The site of the land is located next to Sungai Buloh, neighbouring Kota Damansara (formerly known as Bandar Baru Sungai Buloh), its no difference from creating another sizeable and compact township. We should develop higher density development. More high rise apartment, means effective land use, and much higher (in compare with Putrajaya). Its a sister township of the now Putrajaya. By now, we can name it say Bandar Puteri Jaya. Catering the need for handsome growth, we build less highway and toll road across herewith. We should build a range road of buslane (thru and flow - similar to that in GuangZhou) instead. We target the youngster and younger generation; building more high density affordable homes. There is no way that we ought to follow the regime method of Selangor , where it is highly restricted with fall out and unwanted land use program. Currently, any thing that with density more than 4, will not even consider to register at One Stop Centre (OSC).
The government should look at it in a broader perspective, it should build multi lingual primary schools (namely Chinese Primary and Tamil Primary ), apart from the conventional National Primary Schools). In attracting a fairer representation in the participation, the Government should call open tender instead letting alone for EPF to buy at the stipulated price. I think it should fetch higher price if it goes on open tender. For that matter, the Federal Government should consider to add value by getting the master layout approve first, before ended up selling the raw land (and some of them - are new breed of various rubber species).
I sincerely hope that the Government not to dispose the land now. Instead, it should form an SPV, and this entity will ensure the whole master layout approved. Thereby generating an value that double the selling price that EPF obtain. Thereafter, the government will enjoy long range benefit, by initiating the affordable and quality living lifestyle in Klang Valley. We can imagine how convenience we are of, when the people in Putri Jaya can travel to the heart of KL within 2o minutes - with the build in public transport.
hahahahahahahahah
No comments:
Post a Comment