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Monday, December 24, 2007

Negara Properties set to add vibrancy to Melawati

Melawati Urban 2 (MU 2) is expected to add more vibrancy to the town centre of Negara Properties (M) Bhd’s 1,200- acre, freehold, Melawati township, said its chief executive officer Wan Hashimi Albakri Wan Ahmad Amin Jaffri (pix).

The township located northeast of Kuala Lumpur’s city centre is about 70% completed and encompasses Taman Melawati, Desa Melawati and Wangsa Melawati.

“The overall mixed-development concept of MU 2 would meet today’s demand for a more sophisticated lifestyle by providing everything under one roof – facilities and urban ambience within a highly accessible location,” he told PropertyPlus.

MU 2 is second part of the Melawati Urban Renewal Project (MURP), following the successful full take up and handing over of Melawati Urban 1 (MU 1) in the middle of this year. The project is designed to satisfy the increasing needs of the township’s residents. It involves the development of commercial areas, enhancement of the built environment and rearrangement of the traffic circulation of the area.

“The MURP is carried out via a land swapping exercise between the Selangor state government and Negara Properties’ wholly owned subsidiary Melawati Development Sdn Bhd. The land swapping proposal had been submitted to the local authority in May and the privatisation proposal has been tabled to the state government with the decision still pending,” Wan Hashimi said, adding that the project has a gross development cost of RM125.3 million.

He said, whilst MU 1 is designated solely for commercial purposes, MU 2 is an integrated development, which consists of retail and office suites. “Being a first-of its kind integrated project within Ulu Kelang, it will bring a new pace of life (to the area), while enhancing the value of the other surrounding properties there,” he added.

Two 4-storey blocks comprising 30 units of strata retail and business suites with lift facilities were launched at the end of November, to a lot of interest.

The retail units have built-ups of between 1,747 sq ft and 2,075 sq ft with prices starting from RM751,210, while the business suites, priced at RM416,150 onwards, have builtups from 1,435 sq ft to 4,040 sq ft. It is scheduled to be completed in early 2011 with a gross development value (GDV) of RM23 million.

Wan Hashimi says the units are targeted at lifestyle retailers like bookshops, coffee shops, convenience stores, fitness centres and specialty salons, professional firms such as medical consultants, architecture firms and media promotions specialists as well as financial institutions.

“To attract potential buyers, we are offering special packages that include free legal fees for SPA, free air-conditioner unit as well as WIFI connectivity,” he said, adding that the units enjoy wider frontage and corridor space.

The development is located 13 km from KL’s city centre and is accessible via the Ampang Elevated Highway, Middle Ring Road 2 (MRR2), and the upcoming DUKE Highway. “In addition to the convenient accessibility, the development is surrounded by established neighbourhoods, including Wangsa Maju, Bukit Antarabangsa, Taman Negara Properties set to add vibrancy to Melawati Melati, Ukay Perdana and Ampang, which have a ready catchment of 250,000 within a 8 km radius,” he said.

MU 2 has another five phases yet to be launched with a total GDV of more than RM100 million when completed. MU 1, which comprises 24 units of commercial units with built-ups of 4,856 sq ft priced from RM1.6 million to RM5.5 million, has a GDV of RM67 million.

Meanwhile, Wan Hashimi said, “While there is a mixed sentiment on the property market in 2008 due to the escalating cost of materials, fuel, as well as various uncertainties in this year’s market, we are still confident the market will flourish, underpinned by interest from foreigners
and increased domestic demand, especially in niche to high-end residential and commercial developments, particularly those in strategic locations.” He added that spillover projects from the Ninth Malaysia plan, low unemployment and high saving rates would also contribute to the market’s positive run.

He said Negara Properties would continue to meet the expectations of homeowners looking for the right combination of price, locality and design by launching distinctive lifestyle residential and commercial properties in their ongoing Melawati, Saujana Impian and Nilai Impian developments.

“We believe the excellent location, combined with innovative marketing campaigns and attractive financing packages, will create a robust demand for these units,” he added.

By theSun (by Yap Yew Jin)

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