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Wednesday, March 28, 2012

Bolton in its first build-then-sell development

KUALA LUMPUR: Bolton Bhd is embarking on its first build-then-sell residential development with a gross development value of RM80mil on a 2.34ha site in Setapak.

The company has entered into an agreement with CRSC Property Sdn Bhd to develop 70 three-storey superlink terraced houses on the leasehold site, which is part of an ongoing 26.97ha residential and commercial development in Taman Sri Rampai.

Under the agreement with CRSC Property, Bolton will construct and complete the development by February 2015.

“We expect this project to be a quick turnaround for Bolton as the land is currently vacant and ready for development,” said executive chairman Datuk Mohamed Azman Yahya in a statement yesterday.

“Although this is our first build-then-sell concept development, we are confident that Bolton's good and solid reputation has garnered us a strong following in the Klang Valley to ensure the saleability of the superlink terraced houses.”

He said Taman Sri Rampai was a sought-after mature township, which enjoys good accessibility to the city centre via several major highways.

“As this project is a landed development, this would ensure that the property would enjoy healthy capital appreciation upon its completion,” he added.

By Bernama

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