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Monday, August 2, 2010

UEM Land expects brisk Symphony Hills sales

UEM Land Holdings Bhd, the real estate investment and property development arm of UEM Group Bhd, believes its first phase of landed properties launched in Cyberjaya will be snapped up within weeks as homebuyers see value in the properties.

"When one sells, one must sell value," said managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim in Cyberjaya last Saturday.

Its new development, dubbed Symphony Hills, was unveiled to special invited guests on Saturday.

Wan Abdullah said the response has been "very good" so far as there were interested buyers keen to book the properties prior to the official launch.

Based on its opening weekend alone, it has sold more than 40 units valued at about RM60 million.
He said these landed properties are sold for about RM320 per sq ft, which is competitive against its other landed property developers within the vicinity.

However, he believes Symphony Hills offers greater value to its peers because it is based on the "Connected Intelligent Community" platform. It will also have a clubhouse.

"It's like buying a condominium, only that it is a landed property. So, at about RM320 per sq ft, homebuyers should be able to see the value and potential of it," he said.

The company's residential property development project in Cyberjaya will comprise of 450 units of terrace and semi-detached houses, as well as over 500 units of low-rise apartments.

For the first phase, it will only unveil 122 units of landed properties.

Symphony Hills is also the company's maiden project in Cyberjaya.

There will be four designs of houses under the first phase, namely Beethoven, Mozart, Schumann and Schubert.

The Mozart and Schubert units are terrace houses, while the Schumann units are townhouses, and Beethoven units are semi-detached houses which the company calls it as twin villas.

Mozart and Schubert terrace houses come in various sizes, ranging from 3137 sq ft to 3703 sq ft.

The Schumann townhouse comes in studio and duplex units, while the Beethoven twin villas comes in two types: the three-storey Twin Villa with a total built-up area of 5,661 sq ft and the two-storey version (4,620 sq ft).

Wan Abdullah said more and more people are considering living in Cyberjaya these days, as it is now "more convenient" for people to travel to Cyberjaya.

By Business Times

Dijaya plans RM3.8b Danga Bay project

Property developer Dijaya Corporation Bhd has bought two parcels of prime land totalling 37 acres in Danga Bay, Iskandar Malaysia, for RM308 million.

The land is being acquired by Goldhill Quest Sdn Bhd, a joint venture between Nagasari Cerdas Sdn Bhd (a wholly-owned subsidiary of Dijaya Corp) and Global Corporate Development Sdn Bhd, owned by Iskandar Waterfront Sdn Bhd.

Johor Menteri Besar Datuk Abdul Ghani Othman, who witnessed the signing of the sales and purchase and joint venture agreements, said the expected gross development value of the land is RM3.8 billion, spanning 12 years.

"The RM3.8 billion investment of Dijaya Corp in Danga Bay is yet another milestone in our continuing efforts to promote and position Iskandar Malaysia as a premier economic zone," he said in Johir Bahru today.

According to him, the sizeable investment by Dijaya and Iskandar Waterfront will have a massive impact on the local economy.

"Local supliers, contractors, professionals and even the man-in-the-street stand to benefit from the investment, which in turn will spur the Johor economy significantly," he said.

Abdul Ghani said more good news were expected as several other prospective investors were now eyeing major property developments in Iskandar Malaysia and Danga Bay.

"In the case of Danga Bay specifically, I'm told several interested parties are now literally knocking on Danga Bay's door, wanting a slice of the action here. This speaks volume about investor confidence and the prospect for world-class developments coming up here," he said.

Abdul Ghani said that investor confidence on Iskandar Malaysia was on the rise.

As at July 2010, the total cumulative investment for Iskandar Malaysia is RM62.32 billion, of which RM25.44 bilion or 40 per cent has been actualised, he said.

Dijaya Corp's group chief executive Tan Sri Danny Tan said the development in Danga Bay will include prestigious commercial, residential and leisure projects.

"This will include office and commercial properties, hotel, shopping complex, condominiums and a full range of world-class waterfront lifestyle projects," he said.

By Bernama