Negara Prop to make comeback with 5 projects
Posted on | April 5, 2007
By BERNAMA
PROPERTY developer Negara Properties (M) Bhd, which has been quiet for the past several years, wants to make a comeback in the Malaysian property market by launching up to five new property projects, starting this year.
Its chief executive officer Wan Hashimi Albakri Wan Ahmad Amin Jaffri said these projects, with an estimated gross development value of RM300 million, will comprise both mixed development and commercial units.
“We have been around for 30 years, but the 1997/1998 Asian financial crisis made the property market sluggish and this dragged down our performance as well as our projects,” he said.
“However, this year the local property sector is expected to become vibrant following the relaxation of property-related policies, mainly the abolition of the real property gains tax.
“We want to ride on this feel-good situation by rolling out up to five projects, with innovative and quality products, for both residential and commercial,” he said in Bangi yesterday.
He said these projects will be concentrated at the company’s Taman Melawati and Nilai Impian areas.
Wan Hashimi said among the projects that will be developed at Taman Melawati are retail offices and home offices, high-end distinctively designed semi-detached and medium high cost condominiums.
For Nilai Impian, Wan Hashimi said the company plans to develop a total of 73 units of bungalow and semi-detached houses.
“Our aim is to develop the products based on market needs and at affordable prices,” he added.
Negara Properties, the main property arm and subsidiary of plantation firm Golden Hope Plantations Bhd, is synonymous with the 4.731-hectare Taman Melawati, its flagship and first property project which started in the 1970s.
The company has also developed the 2.84ha Kuala Lumpur International Airport workers housing and commercial complex in Sepang and the 58.18ha golf club and golf course in Impian Golf & Country Club, Kajang.
Some of its current projects are in Taman Melawati and Nilai Impian, with both mixed residential and commercial units.
“We have been known for our quality-made Taman Melawati township with enviable property prices. Now we want to boost the branding of our Nilai Impian township via some marketing campaigns,” Wan Hashimi said.
About 57 per cent of the company’s Nilai Impian township has been developed.
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