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Tuesday, May 13, 2008

Zalam to go for affordable high-rise projects

The 20-storey block with 196 units come with three types of three-bedroom designs. Prices range from RM219,888 to RM292,888 or an average of RM240 psf.

KUALA LUMPUR: Zalam Corp Sdn Bhd will develop more affordable high-rise condominiums in prime locations here, chairman Tan Sri Wong See Wah said.

The company was constantly looking for prime land to build affordable condominiums, and in areas where there were lots of amenities.

From left: Zalam Corporation executive director Dr Kor Fook Heng, chairman Tan Sri Wong See Wah and managing director Ho Lee Beng with a model of the Alam Puri condominium project in Jalan Ipoh.

“We are very particular that the land must be prime and our project must have trendy designs with high-quality finishes and yet affordable,” he told StarBiz.

Wong said an example was its latest project, the freehold Alam Puri condominium, located in the fast-growing Jalan Ipoh area.

The project, with a gross development value of about RM50mil, has achieved over 70% sales within a month of its soft launch. The official launch is on May 19.

“As at May 6, we have sold 142 of the 196 units, leaving only 24 bumiputra and 30 non-bumiputra units. Many of our buyers are from the Jalan Ipoh area,” he said, adding that piling works on the project had been completed.

The 20-storey block with 196 units will have 347 parking bays, with most buyers getting a free bay while those at the higher level will get two bays each. There are three types of three-bedroom designs, and they are priced at RM219,888 to RM292,888, or an average of RM240 psf.

Facilities include a swimming pool, gymnasium, cafetaria and meeting room with broadband Internet access.

Wong said Alam Puri would have a three-tier electronic card access security system, with 24-hour guard patrols on every floor, and plenty of CCTV cameras, including inside the lift, lift lobby and car parks.

Managing director Ho Lee Beng said the pricing was still affordable despite the expensive finishes normally seen in high-end properties and the 25% increase in building costs over the last one year.

“We are able to do this because we are also the contractor and we can manage our costs well. If not, the selling price could be more than RM300,000,” he said.

Ho said most of the company’s projects were completed ahead of schedule. “Our Laman Midah project in Cheras was completed a year ahead of schedule. Completed two years ago, the residents still want us to manage the property for them,” he said, adding that Alam Puri, targeted for completion at end-2009, would also be completed a year ahead of schedule.

By The Star - StarBiz -(by S.C.Cheah)

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