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Saturday, September 1, 2012

I&P sees another good year

The company’s Chinta homes in Bandar Kinrara, Puchong. The Chinta units have a combined GDV of RM119mil, and are due to be completed by the end of this year.

Property developer I&P Group Sdn Bhd is on track to launch properties with a combined gross development value (GDV) of RM3bil this year, says its group managing director Datuk Jamaludin Osman.

He tells StarBizWeek that sales in 2012 will be driven by new property launches in Bandar Kinrara, Alam Damai, Alam Impian, Alam Sari, Temasya Glenmarie and Bandar Baru Seri Petaling in the Klang Valley as well as Taman Pelangi Indah, Taman Rinting and Taman Perling in Johor.

The group is a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB).

Jamaludin says in 2012, the group hopes to do better than the RM1.4bil in revenue it recorded last year.

Jamaludin: ‘We are on track. Our 2012 turnover has crossed the halfway mark (of last year’s revenue) to date.’

“We are on track. Our 2012 turnover has crossed the halfway mark (of last year's revenue) to date,” says Jamaludin.

In the final quarter of this year, the group is planning to launch three-storey terrace houses and apartments at its freehold 200-acre Temasya Glenmarie mixed development in Shah Alam.

“The exclusive apartments with limited units has a view of the golf course.

“They will be competitively priced and be value for money”, says Jamaludin.

It should be noted that at Temasya Glenmarie, I&P has recorded impressive take-up rates for its launch of 154 units of Citra double-storey superlink and 60 units of Anggun double-storey semi-detached homes in March this year.

Observers have described the buying response to the launch as “overwhelming”, with a few thousand people turning up to enter the ballot for the units, which were priced from RM975,888 to RM3.55mil.

In September, the group will offer additional three and four-storey shop offices in Bandar Baru Seri Petaling.

The three and four-storey shop offices, with built-ups ranging from 4,498 sq ft to 11,673 sq ft, will have price tags starting from RM3mil.

Jamaludin is expecting a strong response to the Zone J8 shop offices launch, based on the success of past launches of the group's commercial units in Bandar Baru Seri Petaling.

This year, the total GDV of shop offices launched in this township is RM441.2mil.

Meanwhile, I&P is also optimistic about sales for its high-end landed homes in Bandar Kinrara, Puchong.

Bandar Kinrara, which is on 1,904 acres of freehold land, is the group's largest township development in the Klang Valley.

Launched in 1991, Bandar Kinrara is a matured township with double-storey terrace and semi-detached houses and bungalows as well as the Kinrara Golf Club (KGC) that offers an 18-hole public golf course and club facilities.

I&P describes Bandar Kinrara as a low-density and integrated township that offers a range of exclusive home design concepts and a proven track record of continuous growth in capital appreciation.

One highlight here is the Chinta units, consisting of 11 double-storey bungalows and 22 semi-detached homes, which are designed based on a contemporary tropical concept.

Built on elevated ground overlooking the KGC, the living rooms of each bungalow and the semi-detached homes get a commanding view of the golf course.

The Chinta bungalows feature built-ups ranging from 4,994 sq ft to 5,730 sq ft and are priced from RM3.89mil to RM4.88mil.

Land area for the bungalows ranges from 7,332 sq ft to 11,920 sq ft. As for the Chinta semi-detached homes, they feature built-ups ranging from 4,874 sq ft to 4,994 sq ft and are priced from RM2.88mil to RM3.89mil.

Land area for the semi-detached homes range from 4,856 sq ft to 8,610 sq ft.

The Chinta units have a combined GDV of RM119mil, and are due to be completed by the end of this year. Limited units are available for sale now.

Also available are the Chantek double-storey semi-detached houses, which have limited units available, and are priced from RM1.83mil to RM2.58mil.

With built-ups ranging from 3,097 sq ft to 3,579 sq ft, the Chantek units also have a contemporary tropical design concept and are due to be completed by end-2012.

Meanwhile, four units of the Astana double-storey bungalows were launched in June, with price tags ranging from RM3.48mil to RM5.49mil.

The exclusive Astana units, featuring built-ups ranging from 5,394 sq ft to 7,940 sq ft, are completed and ready for immediate occupancy, as they adopted the build-then-sell (BTS) concept.

Land area for the Astana units range from 8,116 sq ft to 14,728 sq ft.

Two Astana units have been sold, and the bungalows come with a special sales package comprising fully sponsored stamp duty for transfer as well as legal fees for sales and purchase agreements, free kitchen cabinets, air-conditioning units for selected bedrooms and a central vacuum cleaner.

In Bandar Kinrara, there are also plans for serviced apartments, semi-detached homes and bungalows as well as retail and commercial elements with a combined GDV of RM2.1bil on the remaining 400 acres of undeveloped land.

The group has a remaining landbank of 5,175 acres for future development, with 64% of the landbank located in the Klang Valley and the balance in Johor.

By The Star

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