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Monday, October 29, 2007

BLand eyes upmarket buyers

By New Straits Times

Taman Seputeh link bungalows expected to draw strong response

Land Bhd (BLand) hopes to attract upmarket homebuyers with its soon-to-be-launched link bungalows in Taman Seputeh, Kuala Lumpur.

The project, known as Vasana 25, spreads across two hectares of freehold land and will house 22 link bungalows and three bungalows.

The gross development value of the project is RM109 million and the selling price of the link bungalows will begin at RM3 million.

"By early next year we will launch (this project)," BLand properties marketing general manager Mah Siew Wan told reporters after the company's shareholders' meeting last Friday.

Mah said she expected the three-storey bungalows to be "very well-received", given its gated community concept but declined to provide the expected take-up rate.

The built-up area is 4,000 to 5,000 sq ft with land area of 5,000 to 7,000 sq ft.

She added that since some link bungalows would be built on higher ground, these units would come complete with elevators.

"As you age, it becomes more difficult to climb stairs hence we've factored that consideration into our design," she said.

Mah said another project to be launched by end-2007 is Savanna 2 in Bukit Jalil, which is currently awaiting building plan approval.

This project is a four-storey block with 32 units of condominium villas built on 0.49 hectares of freehold land.

This follows the success of Savanna, two blocks of condominium units fully sold after the launch in October 2005.

"One block was taken by Korea's Hanju I & D Co Ltd, which has also expressed interest in purchasing another development in Bukit Jalil," she said.

Hanju signed a memorandum of understanding mid-2007 for RM126 million in cash to purchase the KM3 project, which is a 20-storey condominium with 308 units on 1.18 hectares of freehold land.

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