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Tuesday, March 18, 2008

Malton going into more high-end projects

It is embarking on brand building initiatives

Yeoh Teng Tatt and Tracey Lai showing a model of the VSQ project.

MALTON Bhd is making efforts to further strengthen its branding in the residential and commercial property segments with a line-up of more exciting projects over the next two to three years.

The company is looking at adding more value to its land bank of more than 600 acres in various parts of the country.

“At present, some 70% of the company's projects are high-end while 30% are projects in the various existing townships, including in Puchong and Bukit Rimau, Shah Alam,” chief operating officer Yeoh Teng Tatt told StarBiz.

He said that having multiple projects at the right addresses would drive the company's earnings over the next three to five years.

“We are moving into more prestigious developments and will offer more superior and higher end products as part of our brand-building initiatives,” he added.

Malton director of sales and marketing Tracey Lai said the company had RM2.1bil worth of new projects lined up for launch in the next two to three years, including the unveiling of new phases in existing developments.

“For the current financial year ending June 30, Malton is targeting sales of RM400mil compared with RM120mil recorded last year,” Lai said.

Niche developments to be launched this year include Ukay Springs, an upmarket residential enclave on 56 acres in Hulu Klang, comprising 150 units of 2½-storey semi-detached house and bungalow.

In Sungai Long, Malton will build high-end residences on a 67-acre site worth a gross development value (GDV) of RM330mil, while in Taman SEA, plans are afoot to build 35 bungalows, semi-detached houses and zero lot residences.

A mixed commercial development on 2.7 acres in Taman Maluri, Cheras, will comprise service apartments, office suites and a retail mall worth a GDV of RM195mil.

In Penang, a 36-storey condominium block on 0.7 acre along Cantonment Road will mark Malton's maiden entry into the state's property market. The RM47mil project will be launched later this year.

Malton's recently launched projects include Pearl Villas, comprising 42 units of 3-storey semi-detached villa and two bungalows on 4.8 acres in Petaling Jaya's Section 16, with a GDV of RM110mil.

Another flagship project is Amaya Saujana @ Saujana Subang in the vicinity of the Saujana Golf & Country Resort comprises three blocks of 13-storey residential suites. The project has a GDV of RM250mil.

Planned as a resort lifestyle development, Amaya offers generous spaces in its unit layout and its surrounding landscape. The initial soft launch of phase one has attracted 80% take up rate so far.

Meanwhile, an integrated commercial project is underway on a 2.6-acre plot in Jalan Utara, Petaling Jaya, which used to be the site of a Lutheran Church.

V Square (VSQ) features two blocks of corporate tower, a block of corporate business suites, and two blocks of corporate offices, with retail space on the ground floors. The project will have a GDV of RM207mil.

“Vibrant, vital and visionary, VSQ is designed to offer a stylish working environment in a prime location,” she added.

Lai said Malton was also the project development manager for The Pearl @ KLCC, which comprises a high-end condominium project along Jalan Stonor in Kuala Lumpur.

The 41-storey block of 177 luxurious condominiums is located on a 1.8-acre site, opposite the Embassy of Vietnam, within the KL City Centre enclave.

The spacious residences, including seven duplexes and three penthouses, will have built-up areas from 3,000 to 20,000 sq ft.

“Its international architecture design and futuristic concept have won admiration from many interested buyers, including foreigners and expatriates.

“Besides state-of-the-art security system, the residences will be fitted with smart home features. There will also be a well-equipped clubhouse,” she said.

In Seremban, a 17-acre plot will be developed into bungalows and shop offices worth a GDV of RM160mil.

By The Star - StarBiz - (by Angie Ng)

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