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Monday, March 14, 2011

New Age to launch Kota Kinabalu project by June

Boutique developer New Age Portfolio Sdn Bhd, expects to launch its second housing project, the RM350 million Celebrity Residence project, by the middle of this year.

Set up two years ago, the company will launch the project in Kota Kinabalu, Sabah, via its associate, Laser Plus Sdn Bhd.

New Age and Laser Plus have common shareholders, which include Lai Yeng Fock, formerly the executive director for WCT Land Bhd. The rest are private investors.

Lai said New Age will use its internally-generated funds and loans for the development.

He said after the successful sale of its maiden project in Puchong, Selangor, it is geared up financially to launch a new product.

The project in Puchong comprises 50 high-end three-storey semi-dees worth more than RM1.3 million each, or a combined RM77 million. New Age sold the units, which will be built by June, in less than two months last year by word of mouth.

"Our selling point was to extend the defect liability to 36 months and offer a three-year customer care service where buyers can call us during the period for minor repairs to their homes without a fee.

"While it is an extra cost for us, we are going to work on these two areas for all our future projects," Lai said in an interview.

As for Celebrity Residence, it will comprise three 24-storey blocks with 432 luxury condominium units on a 6.25-acre leasehold tract, which the company bought in 2009 for RM13 million.

Lai said the units, with an average build-up of 1,600 sq ft, will be priced from RM600,000 onwards. New Age is targeting expatriates and Sabahans.

By Business Times

PKNS plans to sell its properties

SHAH ALAM: The Selangor State Development Corporation (PKNS) aims to sell 80% of its properties worth RM608mil this year, its Deputy General Manager (Administration and Development) Noraida Mohd Yusof said.

She said the properties included new housing projects being developed in Alam Nusantara, Antara Gapi, Kota Puteri and Kuala Selangor. “Consumers are confident and are realistic about our properties which are strategically located and priced reasonably,” she told Bernama after attending the PKNS 2011 Clients Day celebration at Kompleks PKNS last Saturday. PKNS sold 89.7% of its properties last year worth RM669mil, involving a total of 2,244 residential units. Bernama

She said PKNS would also take advantage of the My First House scheme launched by Prime Minister Datuk Seri Najib Tun Razak last Tuesday.

The scheme, a government initiative with the cooperation of Cagamas Bhd and financial institutions, has been launched to reduce the burden of young people facing the high cost of living and the high prices put on properties in specific locations in Malaysia.

Through the scheme, individuals, especially the younger generation with income of less than RM3,000, would be able to get 100% loan from the selected financial institutions to buy houses priced between RM100,000 and RM220,000, with a repayment period of up to 30 years.

On the programme, Noraida said it was in line with PKNS' efforts to form a new division under its Customer Services Division starting from April.

The focus will be on enhancing the quality of services to customers, she said.

Besides being the place for looking into clients feedback and so on, PKNS would also use the platform to promote its latest products, she said.

Six counters were opened to clients today including the property sales division, land matters, technical and public relations.

By Bernama

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