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Monday, March 15, 2010

Jaya Upaya sees brisk sales of new bungalows

Lee Cheng Bing with a model of the bungalows

KUALA LUMPUR: Property developer Jaya Upaya Corp Sdn Bhd expects to sell all its boutique bungalows at Milano@Kemuning by the end of this month after receiving overwhelming response during the project’s launch on March 6.

Managing director Lee Cheng Bing told StarBiz the company had already sold 50% of the 38 three-storey boutique bungalows.

“We are optimistic based on the feedback we received during the property’s launch where we managed to attract about 300 walk-in potential buyers and investors.

“With the economy heading for improvement and attractive interest rates from the banks, we should be able to sell all the remaining units by end of this month,” he said.

Lee said the bungalows were priced at RM1.5mil to RM2.3mil for lot sizes ranging from 4,000 to 7,500 sq ft. The project is located near the Kesas Highway.

“A new highway is under development now to connect Kota Kemuning to Shah Alam.

“Milano@Kemuning will be much more accessible once the highway is opened,” he said.

He said the outlook for the property market was improving with most big developers upgrading their developments to come up with more premium products.

“We can see in the areas surrounding Milano@Kemuning that people are still coming to buy properties from the developers though the prices have increased now.

“Our launch that day saw the participation of some buyers in their mid-30s and this is a good sign that more young professional buyers are coming into the market,” he said.

Milano@Kemuning is a gated residential scheme on 3.2ha of freehold land next to Alam Impian township and near Kota Kemuning in Shah Alam.

The project has a gross development value of RM80mil and targets completion by the end of 2011.

By The Star

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