ASSIGNMENT 1: DEVELOPMENT

APPRAISAL
ELMINA, SHAH ALAM
BACHELOR OF TOWN AND REGIONAL PLANNING (HONS),
DEPARTMENT OF BUILT ENVIRONMENT & TECHNOLOGY STUDIES,
COLLEGE OF BUILT ENVIRONMENT, UNIVERSITI TEKNOLOGI MARA
PERAK BRANCH, SERI ISKANDAR CAMPUS

PREPARED BY:
MUHAMMAD IDLAN SAFY BIN ZAWAWI (2022964181)
NUR AMIRAH ADLINA BINTI MOHD SARFAWI (2022963975)
NURIN JAZLINA BINTI SHAHARANI (2022964117)
SITI BALQIS BINTI MOHD AFRAJ (2022964099)

SESSION: MARCH - AUGUST 2023

CLASS: AP2216A (GROUP 2) PREPARED FOR: DR ARINA BT RAHMAT

 LIST OF
COMPANY PROFILE
CONTENT
01
• COMPANY BACKGROUND
•
•
COMPANY VISION
COMPANY MISSION
PRESENTATION
• COMPANY INFORMATION

INTRODUCTION OF

02
FEASIBILITY STUDY
VIABILITY ANALYSIS

04
• THE DEFINITION OF FEASIBILITY STUDY
• TOTAL DEVELOPMENT UNITS
• OBJECTIVES OF THE STUDY
• SELLING PRICE PER UNIT
• LOCATION OF STUDY AREA
• TOTAL GROSS DEVELOPMENT VALUE
• GROSS DEVELOPMENT VALUE PER ACRE
DESCRIPTION OF
PROPERTY

03 •
•
•
•
PARTICULAR OF THE SUBJECT SITE
MASTER PLAN OF THE STUDY AREA
DEVELOPMENT BENCHMARKING
REAL ESTATE SENTIMENT 05
ANALYSIS SUMMARY
• CONCLUSION

• RECOMMEND DEVELOPMENT CONCEPTS

• CONCEPT LAYOUT DESIGN PROCESS
• DEVELOPMENT CONCEPT BASED ON
SUSTAINABLE
1.0 COMPANY PROFILE
1.1 COMPANY BACKGROUND

Sime Darby Property is Malaysia’s leading property developer

with over 50 years of experience in building sustainable
communities. With more than 100,000 homes across 25 active
townships and developments under its belt, as well as a total
estimated GDV of RM103 billion, Sime Darby Property has a
wide reach throughout the country. Its townships and
developments are connected to major highways and
transportation hubs within key growth areas from the central
region of Klang Valley to Negeri Sembilan and Johor in the
South. Sime Darby Property marked its presence in the United
Kingdom as part of a Malaysian consortium that
redeveloped the iconic Battersea Power Station in Central
London. As of December 2022, it has approximately 14,700
acres of land bank, most of which are located strategically
on the west coast of Peninsular Malaysia.

Sime Darby’s take pride as a developer of sustainable

communities and our townships have matured and remain
as sought after addresses with vibrant population centres
throughout the years. With that, Sime Darby Property will
continue the progress with more new addresses at prime
locations in the country. 1
 VISION AND
MISSION

1.2 VISION VALUES

Advancing real estate as a force for collective
progress, in harmony with the planet’s resources.

1.3 MISSION Together we do We lead with We embrace new We Make it

To develop, own and manage a thriving asset what’s right Excellence Approaches happen
portfolio, creating value for all stakeholders.

2
 3
SIME DARBY PROPERTY ERA DAMANSARA (HQ)
Address
Block G, 10th Floor
No.2, Jalan PJU 1A/7A, Ara Damansara, PJU 1A,
1.4 COMPANY Sime Darby was the first Malaysian
property developer to be awarded the
47301 Petaling Jaya, Selangor INFORMATION International FIABCI Prix d’Excellence
Awards twice for its Subang Jaya and
Contact Number UEP Subang Jaya townships.
1-800-88-1118

General Enquiries
group.communications@simedarbyproperty.com

Location of Sales Gallery Awards and Achievements

Kl East & Melawati, KLGCC Resort, Ara In 2019, Sime Darby were selected as an
Damansara, City of Elmina, SJCC, Putra Heights, index component of the Dow Jones
Bandar Bukit Raja, Serenia City, Nilai Impian, Sustainability Indices (DJSI) for the second
Bandar Ainsdale, Planters’ Haven, Taman Pasir consecutive year. Sime Darby Property
Putih, Bandar Universiti Pagoh and The became a public listed entity on 30
International Gallery at KLGCC Resort. November 2017, the beginning of a new
era for the company. Sime Darby have
received 119 awards both locally and
internationally.
 2.1 INTRODUCTION TO
FEASIBILITY STUDY

A feasibility study is a through evaluation that considers all

the important factors of a proposed project to ascertain the
chances of success. Return on investment, which indicates
that the project will produce enough profit to justify the
investment, is one way to describe success in business. On
the plus or negative side, many additional significant
aspects, such as the influence on the surrounding
neighborhood and the environment, may be found.

4
2.2 OBJECTIVES 1 To study on the whole 2 To analyse the project's 3 To assess the viability
development process, feasibility, profitability and of the development
OF THE STUDY beginning with the hunt financial development project.
for potential property. with an emphasis on
The objectives of this study are: these factors.

5
2.3 LOCATION OF STUDY AREA 6
SHAH ALAM, SELANGOR

• Global Oak Tree Scholars (15 km)

• SK Taman Bukit Subang (2 km)
• Help International School (4 km)
• Sekolah Seri Cahaya (6 km)
Shah Alam: 28 km • SK & SMK Saujana Utama (9 km)

Klang: 36 km • SMK Bukit Jelutong (10 km)

• UiTM Puncak Alam (10.3 km)
Sungai Buloh: 11 km
Subang Jaya: 26 km
Petaling Jaya: 25 km
Kuala Lumpur: 32 km • Jaya Grocer Bukit Jelutong (9 km)
• Sunway Giza (13 km)
• Hospital UiTM Puncak Alam (13 km)
• Tropicana Gardens Mall (14 km)
• 1 Utama Shopping Mall (17 km)
• Empire Shopping Gallery (18 km)
• Citta Mall (14 km)
• Ara Damansara Medical Centre (15 km)
Elmina is located in Shah Alam, Selangor. The township has 1,118 acres of parkland,
The City of Elmina is a 6,500- complemented by the Subang Forest
acre integrated township along the Reserve nearby. City of Elmina is Sime
Guthrie Corridor. After years of meticulous Darby Property’s pride and joy, and it has a • Denai Alam Recreational & Riding Club (5 km)
planning and investments on physical 40-year development plan. This wellness- • Monterez Golf & Country Club (7 km)
and social infrastructure, residents get to themed township is built based on 8 pillars • Shah Alam National Botanical Park (14 km)
live in a township with wide roads for of wellness. There’s also commercial • Oasis Ara Damansara (14 km)
hassle-free traffic, acres of green space, vibrancy upon the opening of commercial • Tropicana Golf & Country Club (18 km)
jogging and cycling tracks and even a shop offices Elmina East and West. • Kanching Waterfall (23 km)
community farm.
3.0 DESCRIPTION
OF PROPERTY
3.1 PARTICULAR OF THE SUBJECT SITE

01 02 03
LAND AREA TENURE SHAPE & TERRAIN

2,662 acres Freehold Flat terrain

04 05

CURRENT CONDITION PLANNING PROVISION

Developed Housing Residential and

Development Commercial

7
3.2 MASTER PLAN
OF STUDY AREA
LEGEND

Residential

Commercial

Industrial

8
3.3 DEVELOPMENT BENCHMARKING

Sungai Buloh

Saujana Utama Range Price:

From RM 332,50 to
RM 3990,000
Range price:
From RM 244,82
to RM 980,000

Range Price:
From RM 283,33 to
RM 1700,000

Damansara Damai

Study Area

Range Price:
From RM 342,11
to RM 650,000

Subang Bestari

Denai Alam

Range Price:
From RM 400,11
to RM 1,140,300

9
3.4 REAL ESTATE
SENTIMENT

1 Accessibility located in a location with easy access

to major thoroughfares like the GCE, ELITE and DASH
Expressway.

2 Maintained and concentrated on more mature

facilities and amenities including mosques, schools,
and corporate support centers.

3 Promoting a healthy lifestyle and well-being by

creating neighborhood parks, jogging trails, and
bicycle lanes.

10
3.5 RECOMMENDED
DEVELOPMENT CONCEPT

Step into a life of WELLNESS concept

Wake up to refreshing cool air from the adjacent

1
2,700-acre forest reserve.

Rest your eyes on the luscious greenery from the 300-

2
acre Central Park and 480 acres of the local parks.

Spend quality time together with your children and

3
elderly parents in your open plan home, designed for
multigenerational living.

4 Commute to the city hassle-free with easy access to

an extensive network of highways including the GCE,
NKVE, LATAR and newly opened DASH Expressway.

11
8 Pillars of Wellness Concept
The City of Elmina's approach to wellbeing is aligned by the 8 pillars of
wellbeing, which serve as a guiding concept. It enables a methodical
approach to each choice that determines how this township is shaped. Each
element has been carefully developed to reflect the various dimensions of
wellbeing. In this case, healthiness is a reality, and it is an attitude.

Occupational Wellness

Environmental Wellness

Defining a workspaces Creating inspirational spaces

conducive for an attainable full of natural beauty in
work-play balance. harmony with nature.

Emotional Wellness Intellectual Wellness

Defining spaces designed Providing spaces for people to

to inspire positive attitudes be stimulated intellectually,
and an optimistic outlook learn and grow.
on life.

Mental Wellness Physical Wellness

Providing spaces for people Welcoming spaces driving

to achieve balance and a active living and healthy eating
state of harmony with for a higher quality of life.
themselves and others.

Family Wellness Community Wellness

Planning spaces to support Designing spaces that

mutual respect and encourage harmonious
upholding of family values. interaction between people.
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 3.6 CONCEPT LAYOUT DESIGN PROCESS

PUBLIC
FACILITIES
SPACE CENTRE

RESIDENTIAL

PUBLIC
SPACE
RESIDENTIAL FACILITIES
CENTRE
COMMERCIAL

PUBLIC RESIDENTIAL
SPACE
PUBLIC
SPACE

PUBLIC SPACE

WELLNESS COMMERCIAL

CONCEPT
PUBLIC
SPACE

LEGEND
COMMERCIAL

RESIDENTIAL
RESIDENTIAL
PUBLIC SPACE

FACILITIES CENTRE

CONCEPT IDEA 13
 14

3.7 DEVELOPMENT
CONCEPT BASED ON
SUSTAINABLE

The 2700-acre forest

reserves of the Elmina city

84-acre forest park

45 km
73 species of bird were
counted

10 species of mammals
were discovered

city wide track and

neighborhood track
 4.0 VIABILITY ANALYSIS
Referring to the graph above, the total development unit in Elmina
is 1050 units. The selling price for 2 storey terraced house (22’ x 70’)
is RM 808,000.00, 22’ X 75’ is RM 911,888.00, 22’ x 80’ is RM
968,888,00 and semi-detached house (40’ x 80’) is 1,850,000.00.
Meanwhile, the selling price of 2 storey shop office (24’ x 80’) is
RM2,138,888.00, 22’ x 70’ is RM 11,827,888.00, 22’ x 78’ is RM
12,284,888.00. Next, for the 2 storey shop office cornet lot and end
lot (33’ x 78’) is RM 13,721,888.00, 33’ x 80’ is RM13,368,888.00 and
36’ x 70’ is RM13,254,888.00. Elmina comprises of various types of
residential area and the selling price per unit is in high cost range.

Total Development Units Selling Price per Units (‘000)

2 Storey Shop Office (36' x 70) 2 Storey Shop Office (36' x 70)

2 Storey Shop Office (33' x 80') 2 Storey Shop Office (33' x 80')

2 Storey Shop Office (33' x 78') 2 Storey Shop Office (33' x 78')

2 Storey Shop Office (22' x 78') 2 Storey Shop Office (22' x 78')
2 Storey Shop Office (22' x 70') 2 Storey Shop Office (22' x 70')
2 Storey Shop Office (24' x 80') 2 Storey Shop Office (24' x 80')
Semi Detached (40' x 80') Semi Detached (40' x 80')
2 Storey Terraced House (22' x 80') 2 Storey Terraced House (22' x 80')
2 Storey Terraced House (22' x 75') 2 Storey Terraced House (22' x 75')
2 Storey Terraced House (22' x 70') 2 Storey Terraced House (22' x 70')

0 100 200 300 400 RM0 RM4,000 RM8,000 RM12,000 RM16,000

15
TOTAL OVERALL GROSS
DEVELOPMENT VALUES
AND GDV PER UNITS

The total overall of GDV is RM RM 1,029,531,144 and the total units

is 1105. Next, a 22’ X 70' terrace house with 349 units has the
greatest GDV value for residential units with a GDV total of RM
281,992,000. Followed by 2 storey shop office (22’ x 70’) with 30
units and total GDV is RM 354,836,640.

Gross Development Value (GDV)

2 Storey Shop Office (36' x 70) RM53,019,552

2 Storey Shop Office (33' x 80') RM534,475,552

2 Storey Shop Office (33' x 78') RM54,887,552

2 Storey Shop Office (22' x 78') RM147,418,656

2 Storey Shop Office (22' x 70') RM354,836,640

2 Storey Shop Office (24' x 80') 310,800,000.00

Semi Detached (40' x 80') RM310,800,000

2 Storey Terraced House (20' x 80') RM247,066,440

2 Storey Terraced House (20' x 75') RM189,672,704

2 Storey Terraced House (20' x 70') RM281,992

16
5.0 ANALYSIS SUMMARY 17
When creating their project and financial evaluation, real estate investors and developers usually need a matrix evaluation. This
important assessment is known as Gross Development Value (GDV). Gross Development Value (GDV) or real estate investment projects it
can be calculated to provide a fairly accurate estimate of the value of a real estate development project or real estate once all
development work is completed. The total profit compared to GDV for the total project for Elmina West is 49%. In a nutshell, gross
development value is the estimated value that a new property or development would fetch on the open market if it were sold in the
current economic climate.

Proposed Development Concept

NO ITEMS LAND AREA (ACRE) UNITS GROSS DEVELOPMENT COST (GDC) TOTAL COST (RM)

HOUSING UNIT Land Cost RM15,963,868.8

1 Elmina Green 4
12.34 349 Building Cost RM373,921,640.2
(2 Storey Terraced House) 22’ x 70’
2 Elmina Green 5 Preliminary Cost RM24,416.73
7.88 208
(2 Storey Terraced House) 22’ x 75’
3 Elmina Green 6 Professional Fees RM37,616,517
10.30 255
(2 Storey Terraced House) 22’ x 80’
4 Eight Elmina (Semi Detached) Landscape Cost RM15,254.73
12.34 168
40’x 80’
COMMERCIAL UNIT Infrastructure Cost RM315,000.00

1 Type A (2 Storey Shop Office)

0.71 16 Project Management Cost RM2,160,000.00
24’x 80’
2 Type B (2 Storey Shop Office) TOTAL GROSS DEVELOPMENT COST (GDC) RM523,084.160.7
1.06 30
22’ x 70’
3 Type C (2 Storey Shop Office)
0.47 12
22’ x 78’
Gross Development Value (GDV) RM1,029,531,144
4 Type A (2 Storey Shop Office)
0.24 4
Corner Lot and End Lot 33’ x 80’
Gross Development Profit (GDP) RM506,446,983.3
5 Type B (2 Storey Shop Office)
0.23 4
Corner Lot and End Lot 36’ x 70’ Profit over GDV 49%
6 Type C (2 Storey Shop Office)
0.24 4
Corner Lot and End Lot 33’ x 78’ Profit over GDC 97%
CONCLUSION
Property has essentially analyzed a few pieces of literature on
real estate market modeling and evaluated how it has evolved
in Malaysia. To characterize the existence and behavior of
specific real estate market features that exist, real estate market
models are created. Based on the fact that Sime Darby Property
sold this property, it is clear that it has a complete idea and the
amenities needed to accommodate people with more modern
lifestyles. Researchers often use models to describe a variety of
market-related circumstances. They simulate homes to reflect
variations in the real estate market. A model may therefore be
applicable in one context but not in another. The process of
developing models for real estate research is ongoing and takes
many different shapes.

Selling price start from

RM800,000

18