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Tuesday, February 12, 2008

IOI Properties set to unveil project in IDR

Developer to launch Taman Kempas Utama by second quarter

JOHOR BARU: IOI Properties Bhd will launch a mixed property development along the North-South Expressway (NSE) in Kempas.

General manager (property division) Simon Heng said Taman Kempas Utama would be launched by the second quarter of the year.

He said the project, on a 101.171ha, would have 2,000 residential and commercial units. Of the land, 20.2ha will be allocated for light industrial buildings.

We plan to offer high-end doublestorey link houses with gated and guarded and smarthome concepts« SIMON HENG

“It is timely for us to have a project in the Johor Baru district after our success in the ongoing Bandar Putra Kulai project,’’ Heng told StarBiz in a telephone interview.

He said the location of Taman Kempas Utama in the Kempas-Tebrau growth corridor within the Iskandar Development Region (IDR) augur well for the company.

Heng said the project was easily accessible from the NSE after the Skudai toll plaza, Jalan Kempas Lama and Jalan Senai-Seelong.

He said the Kempas-Tebrau corridor was currently the hottest spot for property development in south Johor with more than 10 ongoing projects.

Heng said the outlook for the property sector in south Johor was promising and some of the biggest names in housing development were launching projects there.

He said IOI Properties was still working on the gross development value of the project, adding that it would take between eight and 10 years to develop the scheme.

“We plan to offer high-end double-storey link houses with gated and guarded and smart-home concepts,’’ he said.

Heng said the demand for high-end houses was growing in the IDR, especially with the presence of more developers from the Klang Valley.

He said IOI Properties was targeting upgraders, especially existing house owners in Kempas-Tebrau area, as they would prefer to buy houses within the vicinity.

He said the company was also looking at professionals and foreign buyers.

He said the continuous inflow of foreign investment and the creation of some 800,000 jobs over the next 15 years in the IDR would push up demand for houses there.

By The Star (by Zazali Musa)

1 comment:

Anonymous said...

As a potential buyer of IOI properties in KEMPAS UTAMA, I reckon that the well planned township will be a success.After viewing the various houses, Im impressed with the impressive designs which is built with safety features in mind.
Looking at IOI's financial standings in the current market,their financial capabilities and their succesfull runs with various projects in the country, I strongly believe that they would be a success in the KEMPAS-TEBRAU vicinity.
However, the estimated value of the houses are above market value. There are other projects at the KEMPAS-TEBRAU corridor where the market value of the houses are much lesser than what IOI is offering.
Just to name a few,SETIA TROPIKA, IMPIAN EMAS and KEMPAS INDAH are strong competitors which offer impressive homes(mostly 24x80) at affordable prices.If IOI intends to attract buyers and rocket their sales of houses, I strongly believe that the estimated value/starting prices of the houses should be brought down .
I hope the management will consider this and review all issues pertaining to their property prices in KEMPAS UTAMA.. Thank You