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Monday, November 15, 2010

Melati Ehsan looking for land outside prime areas

MELATI Ehsan Holdings Bhd is on the lookout to buy more land to develop a range of mix property development including condominiums and shoplots.

Its sales and marketing manager Tan Lai Huat said the company is scouting for land in not so prime areas in the Klang Valley.

"Unlike other developers, our target market is for a different segment of people. Hence, we go and look for land in not so prime areas as we feel that we can cater to a different market," Tan said at the launch of the show units of Laman Bayu in Kota Damansara yesterday.

Melati Ehsan has so far completed eight projects in Kota Damansara, which were mainly residential areas like semi-detached homes and bungalows.
Besides Laman Bayu, it is also developing a project in Kota Damansara comprising 90 terrace houses and 12 semi-detached units. It will be completed by the end of next year.

The company also plans to launch a new project at Bukit Tengku in Section U10 in Shah Alam, Selangor comprising 133 units of two-storey bungalows to be priced between RM5 million and RM6 million each.

"Although there has been some revisions towards the bank loan whereby third homeowners are only allowed loans up to 70 per cent of the amount, we believe it will not affect the sales of our new projects as most of the buyers for our projects are upgraded young families," Tan said.

By Business Times

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