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Tuesday, May 13, 2008

IJM Properties to unveil Summer Place

Comprising 500 units, Summer Place, would be priced from RM250,000 upwards per unit. Built-up space range from 990sq ft to 1,440sq ft.

PENANG: IJM Properties Sdn Bhd is launching the RM140mil Summer Place condominium project at the Bandar Seri Pinang mixed-development scheme, off the Jelutong Expressway, in the third quarter.

Teh Kean Ming

Managing director Teh Kean Ming said Summer Place, comprising 500 units, would be priced from RM250,000 onwards, depending on the built-up areas, which range from 990 sq ft to 1,440 sq ft.

“The key attraction is the 6km sea-front promenade we are constructing in front of the Summer Place.

“We have spent RM9mil so far to construct the first two km,” Teh told StarBiz.

“Our plan is to develop 28 landed commercial properties designed to accommodate food and beverage business along the promenade at the end of this year,” he said.

He pointed out that the Summer Place would also have comprehensive clubhouse facilities.

The latest project by IJM at Bandar Seri Pinang was The Spring project, which enjoyed brisk sales during its launch in May.

“The Spring, comprising 396 condominium units, was 75% sold during the first day (of launch).

The key attraction is the 6km sea-front promenade.

“It was about 80% completed when we launched it, which explains the overwhelming response it received, as the purchasers get to save substantially on interests for loans,” he added.

According to Teh, the RM190mil Nautilus Bay project, launched in March, consisting of 78 three-storey terrace houses, is IJM’s first project in Penang to employ the build-then-sell concept.

By The Star (by S.C.Cheah)

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