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Monday, February 25, 2008

Purcon banks on its construction experience

Tan: Our own construction arm helps keep our properties' prices lower

PETALING JAYA: With more than 30 years of experience in the construction industry, Purcon Group is confident of doing well with its maiden highend project in Bukit Segambut, its general manager Angie Tan said.

“Despite it being our first such project, we have already been involved in the construction of several high-end properties, including semi-dees and bungalows in Glomac Bhd’s Aman Suria and the show unit in Changkat Kiara by Plenitude Kiara Bhd,” she told theSun.

The freehold development, known as Laman Damansari, will comprise 16 units of 3- storey semi-dees and two units of 3-storey bungalows, priced between RM1.6 million and RM3.8 million, with built-ups from 3,800 sq ft to 5,800 sq ft.

Scheduled for launching by the end of this year, the project has a gross development value (GDV) of RM40 million.

Tan said the properties would be built based on a zero-defect concept, where purchasers would require minimal renovations. “Although we aim to launch the project in November, we expect the show house to be ready for viewing in August,” she added.

The group recently completed 53 units of 3 ½-storey shop offices in Serdang Raya and is currently developing Taman Impian Putra, its flagship project in Bangi, Selangor.

The113-acre Taman Impian Putra has been receiving a good response since the leasehold township’s first phase, which consists of 1 ½- and 2-storey link houses, was first launched in 2005. Since then, the developer has also introduced 1-storey and 2-storey shop lots and recently launched 365 units of 2-storey terraces and 58 units of 2-storey semi-dees in its latest phase.

Priced at RM178,988 onwards, the terraces have built-ups from 1,658 sq ft while the semi-dees with built-ups of between 2,653 sq ft and 2,690 sq ft are priced from RM358,888. About 60% of the units have been sold to date and the developer is planning to launch low- and medium-cost apartments in future phases. The township has a GDV of some RM200 million.

Tan said the group has about 300 undeveloped acres in its landbank but is constantly on the lookout for potential tracts for development. “Being a small developer, we usually go for land the bigger players may forego. This way, we do not have too much competition in the market and can cash in and cash out quickly,” she said. Purcon has land in Sungai Petani, Kedah; Jasin, Melaka; Kuala Pilah and Gemas, Negri Sembilan; and Tangkak, Johor.

She also said that having its own construction arm benefits the group, as they would be able to save on construction costs and price their properties lower by up to 10%. “We are be able to save on building time while offering better products and maintaining quality control,” she added.

On the property outlook for this year, Tan said the demand for medium-end properties is still there but the high-end property market might be slightly slower due to economic uncertainty.
“However, it also depends on the location of the project, as highend developments located in affluent areas do well because of steady demand,” she explained.

By theSun (by Yap Yew Jin)

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