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Friday, August 7, 2009

Tempo Prop sees more bookings

PETALING JAYA: Tempo Properties Sdn Bhd expects another 30% of the second phase of its The Atmosphere commercial development in Seri Kembangan to be taken up by this weekend.

The 20-acre phase comprises five components and encompasses shop offices, designer small office/home office (SOHO) suites, boulevard shops and retail outlets.

»We are optimistic that our pricing strategy, the project design and the incentives we are providing will appeal to buyers« KHOO BOO HIAN

Chief executive officer Khoo Boo Hian said type A, comprising 30 units of three- and four-storey shops, was already sold out following a series of previews. It will be launching 106 more units under types B, C and D tomorrow.

“We are optimistic that our pricing strategy, the project design and the incentives we are providing will appeal to buyers,” he told StarBiz in a telephone interview yesterday.

The second phase was targeted at investors and business people, he said, adding that the units were priced from RM860,000.

“We will be covering the (loan) interest during construction. We will also be providing a 6% rental guarantee for the third and fourth floors for a year for type-D units. This is so that the owners can take their time to look for tenants.”

Types B to D comprise four- and five-storey units.

Khoo also said The Atmosphere was being developed in a “fast growing area”.

“The area is fairly developed. There is already a Jusco (supermarket cum department store) there, with Giant and Tesco (hypermarkets) also coming up. The Atmosphere is being developed in what we like to call the heart of the golden triangle of southern Klang Valley.

“We see great potential for growth,” he said.

The commercial development is accessible via major highways such as Lebuhraya Damansara-Puchong Expressway, South Klang Valley Expressway, Maju Expressway and the North-South Highway.

The Atmosphere, with a gross development value (GDV) of about RM900mil and comprising three phases, is located on over 40 acres that are being jointly developed by Tempo Properties and main market-listed Eksons Corp Bhd.

Khoo said the first phase was sold for RM23mil for the development of the Giant hypermarket.

Phase 2 has a GDV of RM300mil. The third phase, with a GDV of up to RM600mil, is expected to be launched within two years, said Khoo.

“Development of The Atmosphere is expected to be completed by early 2014,” he said.

By The Star (by Eugene Mahalingam)

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