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Monday, October 4, 2010

Properties earmarked for My Second Home programme

KUCHING: Naim Holdings Bhd has earmarked three high-end property developments in Miri and here for the largely untapped Malaysia My Second Home programme in Sarawak.

Corporate services and human resource senior director Ricky Kho said the three projects with gross development value (GDV) close to RM400mil were scheduled for launch next year and in 2012.

“The first property to be developed in Miri will comprise apartments, semi-detached and detached houses,” he told StarBiz yesterday.

There will be two blocks of six-storey service apartment (72 units) and a 15-storey apartment (168 units) with a clubhouse.

The proposed project with GDV of more than RM250mil will also comprise 53 units of semi-detached and detached houses, 44 detached vacant lots, a double-storey shophouse, a mini market and a restaurant.

Naim is undertaking the joint-venture project on a 20ha land owned by Miri Malay Charitable Trust Board.

Kho said the service apartment would be priced from RM800,000, semi-detached houses from RM750,000 and detached houses between RM1mil and RM2mil each.

He said the second property scheduled for launch in 2012 would be a condominium project overlooking the scenic South China Sea near to Piasau Beach, Miri.

With a GDV of RM80mil, the project will comprise 96 units which would be sold from RM800,000 each.

Kho said the third project under planning in Jalan Upland here would comprise of town houses.

“We see great potential in My Second Home programme in Sarawak as it is a largely untapped market. Sabah is doing quite well in promoting the programme.

“There are many foreigners, including Singaporeans and Europeans, who are keen to participate in the My Second Home programme in Sarawak,” he added.

Kho said Naim would market its proposed property developments under the programme abroad, targeting particularly the expatriates and retirees.

He is confident that Miri as a resort city and its scenic beaches would appeal to foreigners looking for an ideal relaxed lifestyle.

By The Star

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