Putrajaya Holdings optimistic

Putrajaya Holdings Sdn Bhd, the master developer of the country's federal administrative centre, is confident of the continued appeal of any new property launches it may have in the pipeline, despite the global economic slowdown.

"We believe genuine buyers with the capacity to buy will still buy," its chief executive officer Azlan Abdul Karim said.



"Speculators may have reservations about buying new units, but genuine buyers keen to live in Putrajaya will buy ... and here, people who have bought their units are genuine buyers," he said in Putrajaya yesterday.

According to Azlan, all of Putrajaya Holdings' residential and commercial units launched last year have been sold, including 500 residential units, 200 shop-lots and 37 light industrial units.

Next year, 23 semi-detached residential units will be launched, with prices starting from RM1.7 million per unit.

"We have not advertised, but based on registrations the response has been good."

"Uniquely designed" apartment units will also be launched next year, he said.

Replying to a question, he said that prices of properties in Putrajaya rose last year in line with the increase in prices of raw materials.

"But now, with the (raw material) prices going down, we may lower our prices.

Earlier, Azlan attended the groundbreaking ceremony for the new Election Commission (EC) headquarters in Precint 2, officiated by outgoing EC chairman Tan Sri Ab Rashid Ab Rahman.



He said that tenders for the 10-storey building will open in one to two months.

The building, estimated to cost between RM70 million and RM80 million, will have a total gross floor area of about 22,400 sq m. It is expected to be completed by mid-2011.

By Business Times (by Roziana Hamsawi)