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Saturday, April 17, 2010

SunCity keen to develop govt land

Sunway City Bhd (SunCity) is the latest to join a growing line-up of property developers, which includes SP Setia Bhd, to express interest in developing government land identified for development by the private sector.

Under the New Economic Model (NEM) unveiled by Prime Minister Datuk Seri Najib Razak, several parcels of land in Jalan Stonor, Jalan Ampang and Jalan Lidcol in Kuala Lumpur will be tendered out for the purpose.

"Yes, we are interested to bid for the project. But we have to wait for them (the government) to disclose details of the proposed site," SunCity managing director Ngian Siew Siong told reporters on the sidelines of the "Future Trends in Property" seminar, organised by SunCity, in Kuala Lumpur yesterday.

Earlier, in his speech, Ngian said that SunCity aimed to embrace the "lifestyle of health and sustainability" (Lohas) concept in all its developments, marking a trend in the property market. The group sees such incentives as value-add to its developments.

"A Lohas customer is attracted to socially and environmentally responsible movements. Some of the offerings that will attract Lohas customers are spa and fitness centres, recycling activities, eco-tourism, and homes and buildings that promote the Lohas lifestyle," he said.

Lohas is already big in developed countries like the US and Japan where a rapidly growing group of consumers are becoming more earth-conscious and socially responsible.

Among SunCity projects that have adopted Lohas designs and offerings are Sunway Challis Damansara, Sunway Palazzio in Sri Hartamas, and Sunway Vivaldi in Mont'Kiara.

On a separate note, a speaker at the seminar - property valuer Ho Chin Soon - said that condominiums and apartments would still lead the property trend in the Klang Valley this year.

Developers tend to maximise the pockets of land available by building condo townships to cater for demand.

"The market trend in going green environmentally and socially is also among the upcoming trends picked by developers in their future developments," Ho said.

By Business Times

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