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Monday, March 14, 2011

Focal Aims looks for more land in the Klang Valley

JOHOR BARU: Focal Aims Holdings Bhd is looking for land in the Klang Valley for future development when its maiden project is completed by 2013.

Group executive director Yee Yok Sen said the company has started negotiations with several land owners to expand its landbank.

He said there would always be demand for houses in the Klang Valley.

“We will either buy land to develop it ourselves or set up a joint venture company between us and the land owner for the project,'' Yee told StarBiz after the company AGM recently.

He said the company was confident of getting potential buyers for its future launches as it has a track record with its project - Saujana O-Lot in the Klang Valley.

The project, which comprised of high-end residential properties on 10.48ha in Mukim Damansara in the Petaling district, is entering the final stage of development.

The 48 units of three-storey semi-detached houses are selling from RM1.5mil under phase one. Thirty units of semi-detached houses and 10 bungalows under phase two are sold out, he said.

Yee said the last phase of the project consisting of 37 units of semi-detached houses and four bungalow, priced from RM2.5mil per unit would be launched in the middle of this year. It has a gross development value (GDV) of RM105mil.

“We have many repeat buyers from our phase one who also purchased the units in phase two,'' he said.

In Johor, the company will focus on offering more high-value residential properties for its Kota Masai township project, as it had received enquiries from buyers for the properties.

He said 566.55ha of the 1,011.71ha township have already been developed.

When it started the township about 15 years ago, the main focus was on offering affordable homes to the low and low-medium income earners. “This segment is growing in the Masai and Pasir Gudang areas and we want to offer them better quality homes in term of living space and designs,'' said Yee.

For the financial year ended Sept 2010, Focal Aims Holdings recorded RM3.96mil net loss on RM63.91mil revenue against RM8.33mil net loss on RM30.95mil revenue registered in FY2009..

By The Star

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