Detached for rent at Kg Katok & Terrace for rent/sale at Mata-mata

I have a detached for rent and a terrace for sale . Below are the details :

Detached : for rent

Double storey detached , newly built , 5 bedrooms and bathrooms. Dry kitchen counter, island counter plus Ariston built in oven included.Hse no. 18, spg 162-27-13-8,jln tungku, kg katok .


Terrace : for sale

Kg mata - mata, spg 74-41-13-20.. House no. 10, terrace, good condition, kekal, 4 bedrooms,2100 sq ft,rented to telbru contract 1050 per month, selling 200k

Land for sale near LABI junction

Land for sale 0.5 acre(kekal), near Labi junction 15 minutes from Soon Lee Sungai Liang.
Asking for 200k (nego)

Contact person: Juliyamin - 8925858

juliyamin.shahbud@paprashidah.moe.edu.bn

Properties for rent...

U-Niche Real Estate

8757188

uniche.realestate@gmail.com

1.  Detached House for rent at Jln Serasa big compound fully furnished  Price BND2800 per month

2.  Detached House at Jalan Muara 5 bedrooms fully furnished on matured garden BND2800 per month

3.  Behind Mabohai Petro Station 6 bedrooms ensuite on matured garden BND4000 per month

Detached house at Masin

Jerudong Shophouse spg 201

AIRPORT MALL UNITS FOR RENT

Aaryan - 8812301/8838013

aaryan.property.investor@gmail.com

2 units available at Airport Mall for rent. Contact 8812301/8838013

Exclusive Brand New house for rent in Tungku Gadong

Email us for pictorial view of house

House Status: Brand New ( You shall be 1st tenant)

Type of Rooms:
1 Master Bedroom with Large Closet Area and Master Toilet
2 Guest Rooms with Sharing Toilet (Upstairs)
1 Guest Room- Downstairs ( can be transformed into Dining Room)

3 Toilets available
TV Area available
Large Living Room available
House elegantly curtained
Elegant Kitchen,marble fixture topping
Car space fits 2 cars

Water tank available and house fully conditioned in every rooms

Location : Tungku next to Main Jerudong-Bandar Highway and 5 mins away from Jerudong International School

Rental: Unfurnished @ BND 2500
Furnished @ BND 3500 (furnished upon request)
Deposit : 1 month rental
Please contact Mr Tajudeen 7112750 / 8854415 for house viewing
info@nollybook.com

Property Sale

Proposed 6units Located Kg Lumut next to LNG,
Proposed 4units Sutera1 residence Kg Lambak(A),
Proposed 3units Sutera2 residence Kg Lambak Kanan,
Proposed 5units Panca residence Located Kg Pulaie to sg Akar,
Proposed 6units residence Kg Terunjing Residence.

LET'S SHARE WITH US IF YOU NEED - consultation for your future,join our beautiful architectural drawing,to Develop your Land and to Contra/exchange our property

Arash Group Company
Contact numbers: 2341299/ 7198099/ 7133899/ 8738099
Arashzimra@hotmail.com

Law Society makes firm stand on PA

BANDAR SERI BEGAWAN Friday, May 11, 2012
BRUNEI'S Law Society yesterday issued a strongly-worded statement condemning the potential passing of any law that would have a retrospective effect on property owned through power of attorney (PA).

The Law Society, in a statement signed by its President Hj Muhammad Zainidi Hj Abdul Hamid, expressed deep concern over the recent government move to invalidate all property owned through PA or trust deeds, and convert them into 60-year leases.

"This type of action would ignore any accepted standards of the rule of law; and would set a very grave precedent which would not foster confidence both locally and internationally," the society stated.

The new policy, which effectively ends the only means for permanent residents and foreigners to own land or housing in Brunei, has caused an outcry among certain sectors.

The government says the move will increase transparency in land ownership - as the 47,000 property deeds issued through PA are not registered with the Land Department - but critics say it deprives property owners of assets they bought in good faith, and could lead to legal disputes between buyers and the lawyers and agents who issued the PAs.

"The Law Society believes that as far as possible, changes in the law should not create uncertainty, lead to disputes and unduly cause unfairness or hardship."

The society said it hoped authorities "would consider with care" any proposed amendments or changes to the law, adding that any draft proposals should be circulated for the purpose of public consultation.

The Minister of Development Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Hj Suyoi Hj Osman made the controversial announcement last March during the eighth session of the Legislative Council, saying all property purchased through PA or trust deeds would be converted into temporary leases "effective immediately". He also said amendments to the Land Code were being drafted to enforce the policy.

However, both property owners and realtors remain in limbo, unclear whether they can still buy or sell property to "ineligible persons" without black and white laws to sanction such transactions.

The Law Society noted that since the policy was announced, there have been no amendments to the laws relating to land ownership, and that the government has yet to clarify the issue.

It added: "Brunei courts have on the basis of the laws of contract and equity given effect to the unregistered interests in land in Brunei ... There have been no published laws that specifically prohibit non-citizens from holding interests in landed property."

"In the recent past there has also been implicit acceptance of ownership of beneficial interests in land, in relation to applications for permanent residency by temporary residents, and the requirement for proof of investment in Brunei."

The minister has rebuffed suggestions that the policy would deter foreign investment in Brunei, saying authorities were still reviewing conditions that would allow PA to be used for commercial land development.

"For the purpose of development it will still be allowed on a case-to-case basis, that will be no problem ...

"But for the purpose of ownership, that's something that we want to control," he said in an interview last March. - Quratul-Ain Bandial The Brunei Times

Woes of a worried Bruneian developer

Monday, March 19, 2012

Dear Editor,

I AM a local Bruneian property developer, desperately in need of help.

Following recent news reports on the use of Power of Attorney (PA) in purchase of property, I have been facing challenges as the announcement has left many property developers like me in a lurch. I hold a PA from a landowner for property development.

Last week, I tried to apply for water supply for my project in Mumong, Kuala Belait. However, due to the new norm my application was not considered as the authorities felt my PA was invalid.But how can I explain this to my clients (buyers), who have paid for their houses? It is very unfair to them.

And not only this, a Bruneian buyer was unable to purchase the home from me because my PA was invalid.

I am extremely worried now as I am unable to honour my responsibilities and obligations to my buyers and landowners as a result of the new norm.

If I can't sell the houses, I won't be been able to pay my contractors, suppliers and complete the project for my local landowner.

This would adversely effects to my financial position, making it difficult for me to fulfil my obligations to my bankers.

I have consulted several lawyers, officials, bankers and other authorities for a solution but nobody could help me.

I am a Bruneian single mother, looking after my five children .

I highly appreciate if someone can advise me on the following matters:

1) Is my PA from my landowner invalid? Can't I sell any of my houses , apply for any water, electric or occupational permit for my home buyers?

2) Will I have to cease all my Mot appointment with my buyers who has paid me and signed agreement? 3) What do I do now with my the projects in projects?

4) Are all kinds of PAs now invalid, resulting in a freeze of all operations?

Please, help me find a solution!

Worried Bruneian Developer

BSB

Source: http://www.bt.com.bn/letters-editor/2012/03/19/woes-worried-bruneian-developer

New PA rule may hit investment

Goh De No
BANDAR SERI BEGAWAN

Sunday, March 18, 2012

THE new Power of Attorney (PA) rule has forced many investors residential or commercial to consider moving out of Brunei to other investment-friendly destinations for the security of their investments, a Legislative Council (LegCo) member mentioned yesterday.

In his closing remarks on the last day of the Eighth Legislative Council (LegCo) session, Yang Berhormat Hj Ahmad Morshidi Pehin Orang Kaya Di-Gadong Seri Di-Raja Dato Laila Utama Hj Abdul Rahman said that the matter must be taken "seriously" by the ministries concerned so that the investors do not make any hasty decisions."If delayed, Brunei could lose out on investment because investors may withdraw their money from Brunei and added that they may continue their businesses here, however they may not reinvest in the Sultanate," he said. YB Hj Morshidi said those affected were worried because the rule was not yet clear about what will happen in future.

The Minister of Development announced on March 8, 2012, that permanent residents and foreigners will no longer be able to purchase property or land through PA or trust deeds (TD), making it clear that land can only be owned by those eligible, namely Bruneian citizens.

However, Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Hj Suyoi Hj Osman said that effective immediately all property purchased through PA or TD will be converted into 60-year leases.

Yesterday, YB Pehin Dato Hj Suyoi explained that the reason for implementing the PA/TD rule was to safeguard the interests of Bruneians and to ensure that the land in Brunei does not end up in the hands of those who don't have the right to own it.

YB Pehin Dato Hj Suyoi urged the public not to misunderstand the motive behind the new law.

"Those who are not Bruneian, can still use part of the land, or property owned, by the registered owner of the property through the Land Code Strata Act, Chapter 189, for commercial purposes. This includes shopping areas, residences and so on," he said.

The minister stressed that: "We did not do this to discourage investment in the country; or restrict non-Bruneians from staying in the country, or engage in economic activities in Brunei. That is not the purpose."

YB Pehin Dato Hj Suyoi said he hoped that residents and citizens in Brunei will welcome this change, as an effort to maintain ownership of land for Bruneians.

"This new rule, is the same as what is done in other countries," he said.

The minister informed that there are more than 47, 243 PAs issued and registered in the Attorney General Chambers (AGC) with a total land area of 4,959.3223 acres throughout Brunei.

He added that currently, there are three times of PA/TD, the first, is equitable ownership where the real owner is registered with the Land Department, whilst the PA holder is registered at the AGC.

The second PA is for development, whereas the third is for the purpose of collateral for bank loans, where the PA will be terminated and returned to the original landowner.

The Brunei Times

Source: http://www.bt.com.bn/legco/2012/03/18/new-pa-rule-may-hit-investment

PA deeds to be converted into 60-year leases

Quratul-Ain Bandial and Rachel Thien

BANDAR SERI BEGAWAN

Sunday, March 11, 2012

THE government's move to convert all property owned through power of attorney (PA) into temporary leases is aimed at increasing transparency in land ownership but PA will still be allowed in certain cases, said the Minister of Development yesterday.

In an interview with The Brunei Times, Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Hj Suyoi Hj Osman explained that with the new regulations, all 47,000 deeds issued through PA will be converted to 60-year leases that must be registered with the Land Department. Previously, land and property deeds issued through PA were not required to be registered with the Department.

"A lease is more transparent. Ownership is very clear for the span of 60 years that they will own the land," said the minister on the sidelines of a meeting for the Eighth session of the Legislative Council (LegCo). "(Our objective) is more transparency. Anytime we can prevent the transfer of (land) to people who are not entitled to own these lands."

The move, announced on Thursday during a LegCo meeting, predominantly affects permanent residents and foreign investors who have used PA to purchase assets such as housing or land. Under Brunei law, only citizens are eligible to own land outright. PA is a written authorisation for an attorney to act on a person's behalf in private or business affairs.

The minister rebuffed suggestions that the new policy would deter foreign investment in Brunei, saying the authorities were still reviewing conditions that would allow PA to be used for commercial land development.

"For the purpose of development it will still be allowed on a case-to-case basis, that will be no problem.... But for the purpose of ownership, that's something that we want to control," he said.

The announcement of the new regulation, which closes a legal loophole for non-Bruneians to buy land, has caused a stir amongst the community and members of LegCo.

During yesterday's meeting of LegCo, YB Hj Ahmad Morshidi Pehin Orang Kaya Digadong Seri Diraja Dato Laila Utama Hj Abdul Rahman raised the issue of PA once again:

"On the issue of buying and selling property, most land owners who wish to sell their land choose their payment to be settled by a Memorandum of Transfer (MOT). If the PA is terminated, are there other ways to secure the purchase of property so that brokers will not use the settled payment, even though the request of ownership was not approved?" he asked.

The Minister of Development responded by saying full payment can be settled prior to the end of the 60-year lease or at the term's end, and the PA-issued deed can also be used as collateral with banks.

The decision to convert PAs into leases was made on October 1, 2011 after discussions between the Ministry of Development and the Attorney General's Chambers. Amendments to the Land Code are currently being drafted in order to enforce the policy. The Brunei Times

Source: http://bruneitimes.com.bn/news-national/2012/03/11/pa-deeds-be-converted-60-year-leases

New curbs on PR, foreigners buying land

Quratul-Ain Bandial
BANDAR SERI BEGAWAN

Friday, March 9, 2012

PERMANENT residents and foreigners will no longer be able to purchase property or land through power of attorney (PA) or trust deeds, with the Minister of Development making it clear that land can only be owned by those eligible, namely Bruneian citizens.

During a meeting for the Eighth session of the Legislative Council (LegCo) yesterday, Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Hj Suyoi Hj Osman said effective immediately all property purchased through PA or trust deeds will be converted to temporary leases, although the length of the lease was not disclosed.

"PA and trust deeds have been used by many, especially parties not eligible to own land... So the purpose of terminating PA is to stop turning land over to people who are not eligible to own it," he said. Second Minister of Finance at the Prime Minister's office YB Pehin Orang Kaya Laila Setia Dato Seri Setia Hj Abdul Rahman Hj Ibrahim added that the decision came into effect on October 1, 2011 and amendments to the Land Code are being drafted in order to enforce the policy. The decision will also affect land previously purchased through PA, meaning all property currently owned through PA or trust deeds will be converted into a lease. To date, 47,000 trust deeds or PAs have been issued.

PA is the primary method of property ownership for foreign investors and permanent residents, who can use PA a written authorisation for someone to act on an individual's behalf in private or business affairs to buy assets such as land or houses.

However, the Minister of Development added that there are two sections under PA which are being reviewed, as "we still need other parties" to develop land. He declined to discuss the issue further, stating the matter was "still under review".

The statements from both ministers were made in response to a question from LegCo member YB Pehin Kapitan Lela Diraja Dato Paduka Goh King Chin, who asked if there was a way that land owned through PA could be registered under the Land Department, to stop people abusing PA to buy large swathes of land.

The Brunei Times

New House for rent at Selayun

Kg Sengkurong B. Spg 136-53.

4 bedrooms 4 toilets:-

Groundfloor: One bedroom, living room, kitchen and one toilet.

First floor: Master bedroom come with own bathroom and one big balcony. Two other bedrooms with own bathrooms

Available in March or April 2012

Rental B$1000 unfurnished. If furnish, nego with owner. Thanks

8712608/8810886 (SMS only)