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Thursday, July 29, 2010

UEM Land expects average margins from Cyberjaya property launch

CYBERJAYA: UEM Land Holdings Bhd, which will launch its maiden property project in the Klang Valley this weekend, expects “mediocre margins” from the 122 units on landed strata homes offered under the first phase of its high-end residential development known as Symphony Hills in Cyberjaya.

Managing director and chief executive Datuk Wan Abdullah Wan Ibrahim said he is confident buyers would be willing to pay more for future launches at the site, once the main components of the development were completed.

“I have managed to convince the board of directors that our margins will improve to a decent level in upcoming launches after they can see what we have delivered,” he told a media preview at the site today.

A number of UEM Land’s project in Johor had already won international acclaims, and the company is setting a high target for Symphony Hills in Cyberjaya.

By The Star

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