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Tuesday, August 4, 2009

Strategic location a big selling point for IJM Land’s project in Nusa Duta

JOHOR BARU: IJM Land Bhd is banking on the strategic location of its latest property development project in Nusa Duta near here as the main selling point.

Managing director Datuk Soam Heng Chhon said another added attraction was its location within the development of Nusajaya regional city in Iskandar Malaysia.

“This is a niche development as it only consists of 1,000 units of medium-high to high-end residential properties on a 58ha site,” he told StarBiz at the launch of the project on Saturday.

Phase one of the project is made up of 191 units of double-storey link, clustered and semi-detached houses with prices ranging from RM381,600 to RM757,200 per unit.

Soam said the gated and guarded project, with a gross development value of RM400mil, would keep the company busy for the next four to five years.

Nusajaya, spanning 9,600ha, is the main key driver of Iskandar Malaysia, the country’s first economic growth corridor launched on Nov 4, 2006.

Nusajaya comprises seven signature developments – Kota Iskandar (the Johor State New Administrative Centre), Southern Industrial and Logistics Clusters, Puteri Harbour Waterfront Development, EduCity, Medical City, International Destination Resort and Residential Developments.

Soam said the project was also different from other existing and on-going projects within a 5km radius from Nusa Duta as it did not have commercial properties within its plot.

“We are quite fortunate as our project is well surrounded with existing and upcoming conveniences and facilities developed by other developers,” he said.

These include Bukit Indah AEON shopping mall, banks, schools, fast food outlets, a police station and Giant and Tesco hypermarkets which will open by the year-end and early 2010 respectively.

He said the on-going RM1.3bil new coastal highway linking Nusajaya and the Johor Baru city centre, which passed through the project, would also boost accessibility to Nusa Duta.

Soam said apart from first time buyers and upgraders, the company was also targeting Malaysian professionals working in Singapore and Singaporeans looking for landed properties here as the project was a short distance from the Second Link crossing.

“We are also looking at more land in Johor, especially within Iskandar Malaysia as it offers long-term economic prospects in the property segment,” he said.

Presently, IJM has 4.04ha in Permas Jaya and 101.17ha in Mount Austin, both within Iskandar Malaysia, and 477.52ha in Sebana Cove in Kota Tinggi district in the eastern part of Johor.

By The Star (by Zazali Musa)

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