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Wednesday, March 25, 2009

PKNS plans RM300m property launches

The Selangor Development Corp (PKNS) will launch new housing and commercial projects worth RM300 million collectively in Shah Alam, Kota Puteri, Kota Damansara and Selayang in May.

At the same time, it will relaunch existing stocks valued in total at RM180 million in Bangi, Shah Alam, Kota Damansara, Bandar Sultan Sulaiman, Kota Puteri, Antara Gapi and Bernam Jaya.

Overall, it will launch 3,525 units of medium- to high-end houses, shop offices and factories, said PKNS general manager Othman Omar.

Half of them will be built by June. The rest will be built by early next year.

"We are confident to sell. Our pricing is affordable and not as expensive as private developers. And the impor-tant thing is, we will deliver,"Othman said at a property seminar in Kuala Lumpur yesterday.

PKNS will launch a month-long housing campaign starting May 8 to promote the properties.

Last week, it sold 20 units of semi-detached houses worth RM18.7 million in Bandar Baru Bangi.

Othman said PKNS will continue to launch affordable homes despite the economic slowdown but will focus on developed areas in the Klang Valley.

"We are profit-driven, hence, will focus on locations where there is demand, and the areas are developed. We will fine-tune the progress so there is no oversupply. We plan to maintain the rate of construction," he added.

PKNS will also develop projects jointly with private developers and will award contracts based on open tenders, Othman said.

By Business Times

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