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Wednesday, July 30, 2008

Talam plans to deliver 7,000 homes

PETALING JAYA: Talam Corp Bhd intends to deliver 7,000 homes to buyers this year, says executive director Chua Kim Lan.

“So far, we have delivered 700 units and more are expected in the next few months,” she told StarBiz in a telephone interview yesterday.

Next year, it will deliver another 6,000 homes, bringing the total gross development value (GDV) of the 13,000 units to almost RM1bil.

As the main structure works of the properties are already completed, the developer is marginally affected by the rise in steel prices.

“The impact to total construction cost is less than 10%,” Chua said, adding that this, however, would eat into its margins.

The company’s Serenia Gardens project, which is a joint venture with IJM Corp Bhd, was launched earlier this year while the launch of Sierra Selayang, also with IJM, has been put on hold until next year.

The two projects have a combined GDV of RM1.5bil.

Serenia Gardens, which is on a 90-acre leasehold land in Ulu Kelang, involves the development of 225 terraced houses in the first phase and 104 units in the second.

Sierra Selayang, on the other hand, comprises semi-detached houses and bungalows.

Talam was considering to convert some of its residential land bank in Puchong and Bukit Beruntung to industrial status given that the Selangor government was keen on removing backyard factories. Chua said: “There may be launches of industrial properties early next year.”

By The Star - StarBiz

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