NBC to expand in Klang Valley
Posted on | March 26, 2007
NBC group of companies wants to expand its foray into the Klang Valley’s high-end residential market and is looking for land in upmarket addresses such as Bukit Tunku for lifestyle residences.
A household name in the Klang-Meru-Kuala Selangor property market, NBC is moving into other growth areas in the Klang Valley.
“Our current focus is on high-end developments as demand for such units is still strong. We want to build up our presence in niche residential projects in well-located areas,” president Datuk Ng Bee Chai told StarBiz.
NBC’s maiden foray into lifestyle residences will be the Jelutong Heights gated development in Bukit Jelutong. It bought 20 acres in Bukit Jelutong from Guthrie Group for the development of semi-detached houses and bungalows.
Jelutong Heights comprises 112 units of 2½-storey semi-detached houses at Bukit Jelutong, Shah Alam. Located on 14.4 acres in Seksyen U8, Bukit Jelutong, the units on lot sizes from 40′ x 80′ to 45′ x 100′ and built-up from 3,500 to 4,000 sq ft are priced from RM1mil to RM1.6mil.
The low-density development has a gross development value (GDV) of RM140mil and will be completed in 18 months.
The houses have two master bedrooms of more than 400 sq ft each. There are four designs – Balinese, classic, contemporary and modern.
Construction work is scheduled to start in April and to be completed in 18 months.
Ng said the adjacent project, Beverly Hills, would comprise 21 bungalows ranging from 8,000 to 23,000 sq ft land area and 3,000 to 4,000 sq ft built up. The bungalows will be priced from RM2mil to RM4mil for a GDV of RM60mil
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Ng Bee Chai in front of Jelutong Heights homes
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“We are really excited about Jelutong Heights. The neighbourhood is exclusive and the location is almost perfect. In fact, Bukit Jelutong is a suburb where the density is among the lowest in the country,” Ng added.
Being the company’s maiden high-end project, he said Jelutong Heights marked a new beginning for NBC Group. “We have every intention to make it our best and most prestigious project. We are planning to work on other high-end projects after this.”
The company aims to stamp its mark as a provider of top quality, smart and state-of-the-art residences, with contemporary designs and user-friendly layout.
“These homes will be within environment-friendly estates with landscaping Our homes will give the owners a real haven to come back to after a long day at work,” he added.
On the company’s expansion plans, Ng said the company still had 100 acres of undeveloped land in Klang, Shah Alam and Kuala Selangor.
With gross annual turnover of more than RM200mil a year, the group was previously involved in building low- and medium-cost projects. In the past two years, the biggest contributor to NBC’s revenue comprised Kota Pendamar, a 161-acre mixed development in Pandaraman, Port Klang.
In Kuala Selangor, the company’s 45-acre Kota Alam project comprising single and double-storey terrace houses, semi-detached houses and bungalows, has become a landmark.
Ng said as a pioneer in introducing new concepts in the Klang property market since 1970, the group was still looking at setting industry benchmarks.
“The onus is on developers to put in greater effort to differentiate their projects. We now need to build true quality and value-for-money houses, be environment friendly, and in the best locations.
“With the abolishment of the real property gains tax by the Government from April 1, it is time to pull up our socks and put in our best to build property that both local and foreign buyers will proudly declare as My Home, My Haven,” Ng said.
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