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Tuesday, October 16, 2007

Mitrajaya heads for Sri Lanka

By The Star (News posted 13Oct'07)

KUALA LUMPUR: Mitrajaya Homes Sdn Bhd, a subsidiary of Mitrajaya Holdings Berhad, plans to launch its maiden property project in Sri Lanka next year.
Sales and marketing director Kok Siew Leng told StarBiz building plans for high-end condominiums had been submitted and the company was now awaiting approval from the relevant authorities.

Mitrajaya had in 1999 ventured into property development in South Africa where it still has some 300ha, which Kok said should keep it busy for the next few years. "We have been in South Africa for eight years. Sales of our bungalows and bungalow lots have been encouraging," she added.

On the local front, the company will launch a 90-unit condominium block and 243 double-storey houses by year-end. The condominium block is its eighth in Desa Impiana, which is part of the 250-acre Puchong Prima being developed by sister company Prima Harta Development Sdn Bhd.

Situated on 16 acres of freehold land, Desa Impiana also features 144 duplex units housed in four blocks. The project has an estimated gross development value (GDV) of RM 160 million.
"Sales have been encouraging with about 20% left of the total number of units," Kok said, adding that the last condominium block would be launched by month-end.

She also said the double-storey houses, which have a GDV of some RM 68 million, would be sited on 11 acres near Desa Impiana. For next year, the company plans to unveil its high-end condominium and low-rise villa development on three acres in Mont Kiara.
Named Kiara 9, the project with an estimated GDV of RM 30 mil, would be launched by the first quarter, Kok said. She said the company's Desa Idaman project, comprising low-rise apartments, had also seen promising sales since its soft launch a month ago.

Spanning 10 acres in Puchong Prima, the project comprises 540 units with an estimated GDV of RM 100mil. Kok said the project would feature a private water park complete with life size animals and rivers. With built-up areas from 950 to 1,100 sq ft, the apartments are priced from RM160,000 - RM280,000. Kok said the company also has seven acres in the Klang Valley and was in the process of acquiring 100 acres in Banting.

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