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Thursday, March 26, 2009

Mudra Tropika to launch projects in JB’s prime area

JOHOR BARU: Mudra Tropika Sdn Bhd sees RM200mil in gross development value (GDV) from its three property projects in Johor Baru.

Executive chairman Datuk Mohd Rashidi Mohd Nor said the locations of the projects in three of the most-sought-after areas in the district were the main attractions to potential buyers.

Datuk Mohd Rashidi Mohd Nor (right) and Mudra Tropika director Mohd Nzaim Sabtu with a model of the Nong Chik Heights.

The projects are sited along Jalan Sungai Chat opposite the 95-year-old English College, Nong Chik area, well known for its middle and upper-class Malay residents, and Jalan Mustapha opposite near the Mentri Besar’s official residence Saujana.

“We will launch two projects by the middle of the year – Nong Chik Riverside and Nong Chik Heights,’’ Rashidi said at the signing of a sale and purchase agreement between Mudra Tropika and Dynac Capital Sdn Bhd yesterday.

Under the agreement, Dynac Capital agreed to buy 44 of the 54 three-storey shop offices in Nong Chik Riverside from Mudra Tropika for RM43mil.

Nong Chik Riverside is an international leasehold commercial project on 6.8 acres and comprises shop offices in seven blocks.

Nong Chik Heights is a housing project on 36 acres of Malay reserve land, to be sold only to Malay buyers.

The 11.2-acre Mustapha Gardens will comprise 17 bungalows with an indicative selling price from RM1mil and they are open to international buyers.

Mudra Tropika is a company under Johor Government State Secretary Inc and all the land for the three projects belong to the state government.

“Nong Chik Riverside and Nong Chik Heights projects will keep the company busy for the next five to eight years,’’ said Rashidi.

He said the first two blocks in Nong Chik Riverside would be completed within two years of the project launch in mid-2009.

Rashidi said phase one of Nong Chik Heights, comprising 120 houses priced from RM290,000 to RM400,000 each, would also be launched in the middle of this year.

The second and final phase will offer 40 bungalows and semi-detached houses.

He added that traffic flow at the three areas would improve once all the state government offices moved to Nusajaya by the end of next month.

By The Star (by Zazali Musa)

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