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Wednesday, February 16, 2011

Naim plans more affordable houses as demand rises

KUCHING: Naim Holdings Bhd, which is focusing on building more affordable houses, targets to sell 850 properties this year.

Corporate services and human resource senior director Ricky Kho said as houses below RM200,000 were in strong demand, the company would launch more such properties, particularly at its flagship satellite township Bandar Baru Permyjaya in Miri.

Naim, Sarawak's largest property developer, has built about 12,500 houses and other properties in Permyjaya.

“We sold about 480 houses worth RM150mil last year compared with 530 units valued at RM152mil in 2009.

“Houses of higher value were sold in 2010,'' Kho told StarBiz.

He said about 65% of the houses sold last year were in Permyjaya. Naim's other property developments are Desa Ilmu and the Riveria in Samarahan.

Kho said the construction of RM60mil Permy Mall in Permyjaya was progressing well and the mall was expected to open its door before Christmas this year.

The mall will house a hypermarket, 160 retail shops, a food court and other facilities to serve the increasing population in the township.

Naim has a landbank of some 1,050ha in Miri, Kuching and industrial town Bintulu which has a combined gross development value (GDV) of some RM6bil when fully developed.

Naim recently entered into a joint venture (JV) with Cahya Mata Sarawak Bhd (CMSB) and Bintulu Development Authority (BDA) to develop Samalaju township in Bintulu.

The JV company, Samalaju Property Development, is now constructing temporary camp facilities for construction workers of industries in the Samalaju Industrial Park within the Sarawak Corridor of Renewable Energy (SCORE).

The first industry in the park is Japan's Tokuyama Corp, which is expected to start the construction of a poly-silicon plant next month.

On Naim's proposed extension of its property development activities to Sabah, Kho said the company had set up an office in Kota Kinabalu.

"We have identified several properties for acquisition or joint venture in Sabah but nothing has been finalised," he added.

By The Star

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