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Thursday, October 16, 2008

70pc of Danga Island Villas snapped up

NEARLY 70 per cent of the luxury waterfront villas in Danga Island Villas, located within Iskandar Malaysia, have been snapped up by buyers from all over the world eventhough the project will only be launched in November.

Danga Bay Sdn Bhd chief executive officer Datuk Lim Kang Ho said the Danga Island Villas managed to secure RM230 million sales at the Cityscape international property show in Dubai last week.

Investors’ bullish perception on the project was further testament to their confidence in Iskandar Malaysia and Danga Bay, he said.

“Despite the prevailing global economic conditions, they are still willing to spend and invest in our project, reflecting their confidence in Danga Bay and Iskandar Malaysia backed by the government,” he told a media conference.

Lim said Danga Bay Sdn Bhd had not deferred any project planned for Danga Bay due to the global economic uncertainties.

Lim also said the value of completed projects in Danga Bay, for example, apartments, commercial blocks and Casa Almyra residential development, had doubled, further proving its lure to investors.

The Danga Island Villas project, worth RM900 million in Gross Development Value, is the first high-end waterfront lifestyle living concept in Iskandar Malaysia, straddling over 45 acres of a natural island off Danga Bay.

The 152 villas, which come complete with private berths for yachts, is priced between RM4 million and RM15 million each.

Of the 70 per cent Danga Island Villas units sold todate, Lim said 27 per cent of the buyers were Johoreans, 28 per cent from those living in Kuala Lumpur and Penang and six per cent from Sabah and Sarawak.

Buyers from Middle East countries, India, Pakistan, Canada and Spain accounted for 38 per cent, five per cent from Singapore and two per cent from Hong Kong.

The project is targeted primarily at wealthy retirees, jetsetting businessmen, expatriate families and the well-heeled from Malaysia and the region keen to make Iskandar their home.

Other upcoming property developments in Danga Bay are refurbishment of the Danga Bayleaf Restaurant into a RM30 million convention hall and construction of office blocks.

A budget hotel and a six-star luxury hotel are on the drawing board, he added.

By Bernama

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