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Tuesday, March 18, 2008

UM Land identifies three sites for projects

All the land is within Iskandar Development Region

From left: UM Land general manager, projects division, Goh Hong Seong, Mohd Noor Abdul Salam and assistant general manager, finance division, Tan Siew Peng with the model of the Arista Homes.

JOHOR BARU: United Malayan Land Bhd (UM Land) has identified three new locations in south Johor for future development projects.

UM Land Johor region general manager Mohd Noor Abdul Salam said all three were within the Iskandar Development Region (IDR), including one in Nusajaya city.

He declined to give details on the other two locations and how much the company would invest to acquire the land.

“We can’t say much now but our headquarters in Kuala Lumpur will make the announcement soon,” he said.

Noor said this on Sunday after Johor Baru mayor Datuk Mohd Naim Nasir handed over house keys to buyers of the company’s Deanne Homes in Seri Austin.

UM Land is currently undertaking two integrated township projects in Johor – Seri Alam in Masai and Seri Austin in Tebrau – both within the IDR that spans 2,216.3 sq km.

Covering 1,497.33ha, Seri Alam was started in 1992 and is now 60% developed. Seri Austin was launched in 2005 and 20% of its 202.34ha has been developed.

At the event, the company also launched 40 double-storey link houses – Arista II – with expected gross development value of RM35mil.

Noor said the construction of new intersections, highways and road upgrading worth RM4.9bil for the IDR this year augured well for the property sector here.

“Better connectivity and accessibility will boost demand for residential and commercial properties within the IDR,” he said.

Noor said prices of new houses would increase this year due to high construction and building materials cost resulting from high petroleum prices in the world market.

He said the main challenge now for developers in the country was to offer affordable houses for buyers and make profit at the same time.

By The Star (by Zazali Musa)

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