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Wednesday, November 19, 2008

TH Properties to build township for the elderly

TH Properties Sdn Bhd has teamed up with PrimaNora Sdn Bhd to develop a RM30 million resort-style township in Bandar Enstek for the aged and elderly.

TH Properties chief executive officer, Zaharuddin Saidon, said the 12-hectare development was expected to commerce in June next year and would be completed two years later.

“The township, called Resort Living@enstek, is targeted at those 60 years and above.

“It will comprise 60 bungalows priced between RM500,000 and RM1 million each,” he said after signing the memorandum of understanding (MOU) with PrimaNora in Kuala Lumpur yesterday.
Zaharuddin said under the MOU both companies would also collaborate to develop a women and children’s hospital, medical wellness centre, specialist healthcare facilities and comprehensive health Hajj programme, focusing on providing comprehensive and holistic healthcare.

“We are currently studying the strategic location for the hospital (for women and children). It might be within the Bandar Enstek or somewhere else in Kuala Lumpur,” he said.

He said the companies also planned to develop the same type of township in Penang and Ipoh.

“We have identified a few locations. We will duplicate Resort Living@enstek and build the township, maybe in Penang and Ipoh,” he said.

Asked if this was the right time to introduce new development due to the current global crisis, he said: “The health industry is recession-proof. People still get old. They have to prepare themselves.”

Zaharuddin said the company was fortunate not to rely on one product.

“For other developers who rely on one product, especially the high-end, investors might hesitate because of the current financial crisis. So they will be affected.

“But for us we have different products. So if the high-end have problems, we will go for other products such as middle- and lower-end.

“People still need houses. So we will identify the products the market wants,” he said.

By Bernama

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