Posted on | March 28, 2009
By THE STAR
ISLAND & Peninsular Bhd (I&P) is “cautiously confident” that all the 103 properties under the next phase of its Alam Impian township in Shah Alam will be almost sold within six months of launch in May.
Priced under RM400,000 per unit, the 22ft x 80ft Canting 2 double-storey terrace houses have an estimated gross development value of RM40mil.
Group marketing and communication general manager Noor Lida Nazri says I&P is confident of strong response because of the project’s location.
“This is an integrated township, not a piecemeal development. It is very hard to get a good township in the Klang Valley.
“However, looking at the market condition now, we probably have to launch in stages as we do not want to flood the market.
“We have to be very cautious but we are confident that terrace houses are still something that people look for,” she tells StarBizWeek in an interview.
Alam Impian is a RM4.5bil township that is expected to be fully developed in 12 to 15 years. I&P plans to build about 10,000 homes on the 1,235 acres of freehold land.
Noor Lida says the next phase will only be launched when sales of Canting 2 have hit between 60% and 70%.
Since Alam Impian was launched in 2006, I&P has sold about 265 of the 309 units launched.
Two earlier phases, Canting and Tinta which were launched last December and in January, comprised 115 double-storey terrace houses and 106 semi-detached units respectively. Both phases are sold out and have been handed over to buyers.
Early this month, I&P launched Nukilan comprising 54 double-storey linked-houses with land area of 24ft x 80ft and priced from RM465,000 per unit.
Noor Lida says a lot of people are viewing the Nukilan show unit but making a commitment would take time due to the economic uncertainty.
“They need to check on financing and the downpayment. So far, we have sold 10 units,” she says, adding that the partial opening of Kemuning-Shah Alam Expressway (LKSA) has allowed quick access to Federal Highway and Shah Alam. The LKSA is expected to be completed by the middle of this year.
I&P has other township development such as Alam Damai (Cheras), Alam Sari (Bangi), Bayuemas (Klang) and Bandar Kinrara (Puchong). The company focuses on landed property and its products cater mostly for locals. It has a land bank of over 5,263ha in the peninsular.
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