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Friday, November 14, 2008

YTL Land plans another project near Lake Edge

WINNING QUALITY: Lake Edge has won top honours at the 16th FIABCI Malaysia Property Awards in the residential award category for Best Low-Rise.

YTL Land & Development Bhd, the property arm of YTL Corp Bhd, plans to develop another 8ha of land next to its Lake Edge gated community in Puchong, Selangor.

The plan is to build 45 units of high-end terrace homes with a gross development value of RM50 million, senior manager for sales and marketing Judy C.L. Loo said.

Loo told Business Times during a site visit yesterday that the design and layout plan is on the drawing board and it will be ready to launch in a year or two.

"YTL is confident of the take-up rate, looking at sales achieved from our earlier units and positive response from our ongoing registration exercise," Loo said.

The existing Lake Edge features courtyard, terrace, semi-detached homes and bungalows totalling 375 units, worth some RM450 million.
Launched in phases since 2004, YTL has sold and handed over 309 units of the courtyard homes and terraces to buyers, majority of whom were from Puchong.

Loo said construction and sales of products in Lake Edge were not affected by recent developments in the market.

"Our products have been selling well with positive feedback from buyers. We are also getting new registrations from potential buyers," she said.

Still under development are 50 units of two-and-a-half storey semi-detached homes with private lap pools known as Waterville, each worth over RM1.6 million.

This month, YTL will launch Waterville, which is due for completion by December next year, and also Parkville.

Parkville comprises eight units of double-storey semi-detached homes, worth over RM1.8 million each, and eight units of bungalows valued at more than RM2.1 million per unit, which have been built under a build-and-sell concept.

"YTL is optimistic the Waterville and Parkville units will be snapped up by June next year despite a downturn in the global financial markets. It has secured pre-sales from the two," Loo said.

Lake Edge won top honours at the 16th FIABCI-Malaysia Property Awards ceremony recently in the residential award category for Best Low-Rise.

By Business Times (by Sharen Kaur)

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