Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Friday, November 2, 2007

I&P confident of good response to Alam Sari

New Township: (From left) Jamaludin explaining the project to Najib. Looking on are I&P chairman Tan Sri Mohd Zuki Kamaludin and PNB chief executive officer Tan Sri Hamad Kama Piah Che Othman

Island & Peninsular Bhd's (I&P) latest township project called Alam Sari in Bangi should boast a gross development value of RM 1 billion, chairman Tan Sri Mohd Zuki Kamaludin said.

The township is being built on one of Bangi's last parcels of freehold land, measuring 175.16 hectares.

The township will house about 3,435 residential units with an estimated population of 17,00 people on completion in eight to 12 years," Zuki said at the launch of Alam Sari by Deputy Prime Minister Datuk Seri Najib Tun Razak.

Sales of the first phase will be held on Saturday, with construction works due to start early next year.

I&P managing director Datuk Jamaludin Osman is confident that the project would be well received due to the scarcity of freehold land in Bangi.

"Last year, we introduced art into our township to create Alam Impian in Shah Alam. This year, our new township takes on a different concept - academia, inspired by its location," Jamaludin said.

Among the institutions and centres neighbouring Alam Sari township are Universiti Kebangsaan Malaysia, German Malaysian Institute of Technology, Nuclear Malaysia, Malaysian French Institute and the Petronas Management Training Centre.

It will develop 90 units of double-storey terraces called Ilmia in the first phase. The houses, measuring at 22x75 and with a built-up area of 2,099 sq ft to 2,271 sq ft, are priced from RM248,008 to RM512,760.

I&P said the response so far had been overwhelming with some 2,000 people registering to own one of the 90 units.

Jamaludin said the second phase is expected to be launched in January or February, offering 60 units of double-storey terraces.

I&P, he said, would try to keep the units available in the second phase affordable amid a 25-30 percent increase in material cost in recent months.

Besides the 175.16 hectares, I&P owns another two plots of yet-to-be-developed land in Bangi. One measures 283.5 hectares and the other 202.5 hectares.

By New Straits Times

1 comment:

Anonymous said...

I bought 1 unit in Alam Sari. Visiting unit owned by one of my friend (his unit is now completed), the finishing was shoddy - very disappointed. Even though I&P gives the warranty, if this kind of product they deliver, I&P can become Talam very2 soon!