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Monday, November 17, 2008

New projects a boon to DNP

DNP Holdings Bhd has lined up high-end residential properties for launch in Seberang Prai and on the Penang island in 2009 and 2010 in tandem with its efforts to raise the revenue contribution from property development.

The group’s main revenue generator is presently the garment manufacturing business arm.

The properties planned for the first half of 2009 have a gross sales value of RM160mil, comprising 396 units of terraced, semi-detached, bungalows, and catalogue shops.

Its property arm, DNP Land Sdn Bhd, plans to launch the Sentral Greens project on the island in the first half of 2009 while in Central Seberang Perai, it aims to launch the second phase of BM Utama in Bukit Minyak and Taman Seri Impian in Alma.

K.C. Tan (right) and Marketing Manager Joe Ang Kean Joo showing the Sentral Greens project

The BM Utama launch would comprise 200 double-storey terraced houses, semi-detached, bungalows, and catalogue shops while the Sentral Greens project comprises 54 units of three-storey terraced and semi-detached properties.

The double-storey terraced and semi-detached homes in BM Utama are tentatively priced at RM290,000 and RM420,000 respectively, while the Sentral Greens properties are from RM808,000 onwards.

The Taman Seri Impian properties, comprising 142 terraced, semi-detached, bungalow, and commercial properties, are priced from RM240,000 onwards.

DNP Land general manager K.C. Tan said the group was focusing on development in central Seberang Perai because it was the district with the fastest growing population.

“There are more job opportunities in central Seberang Prai, as there are many industrial facilities in the district. There is also room for infrastructure to grow in central Seberang Prai,” he said.

Big overseas corporations such as Ibiden Co Ltd, Honeywell International, and St Jude Medical Inc are injecting billions of ringgit into their manufacturing facilities in Seberang Prai and Bayan Lepas.

These investments would create job opportunities and demand for housing in affordable housing estates in Penang.

In view of the sluggish market, DNP Land is taking a very cautious approach on selecting the type of properties for launch.

“During such times, the challenge is to launch projects that can attract buyers, taking into consideration that consumers are more particular in their taste when it comes to purchasing properties,” Tan said.

He said although the price of steel had come down by about 20%, the selling price of properties had yet to drop, as the prices of other raw materials such as cement and other aggregates remained high.

Tan said the only way to go since property prices had not come down was to add value to the projects by introducing guarded community projects for the higher income group working in the industrial estate such as the second phase of the BM Utama project.

“We’re creating homes with a variety of designs and equipped with quality finishing, located in a guarded community,” he said.

He added that because there are few guarded housing schemes on the mainland, the project should attract attention.

“The homes are located within lush greenery and have amenities such as a cycling track,” Tan said.

Meanwhile, he said the company wanted to carve a name for itself in the high-end segment of the residential property market on the island with the Sentral Greens project.

Tan said the project was located within walking distance to an 11-acre state metropolitan park and 150 acres of forest reserve. “The properties are aesthetically designed with modern architectural facades and designs,” he said.

DNP Land’s other planned projects include a guarded community project of super-linked terraced, semi-detached, and bungalow houses on a 100-acre site in Alma, Central Seberang Prai.

This project was scheduled for launch in late 2009, he said.

Tan said DNP Land also planned to launch the Alma Commercial Hub, comprising shop offices and a retail complex on a 60-acre site, in late 2009. He said this would cater to the needs of Alma residents and complement the existing business park.

Tan said the third phase of BM Utama project on a 20-acre site, comprising double-storey terraced and semi-detached properties, would be launched in 2010.

By The Star (stories by David Tan)

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