IJM Land eyes RM250mil sales from new home ownership plan
Posted on | April 2, 2009
By THE STAR
SUBANG JAYA: IJM Land Bhd hopes its newly launched home ownership package, My Space Plan, will rake in RM200mil to RM250mil sales in three months.
Managing director Datuk Soam Heng Choon said the new plan was applicable for the company’s existing and new property projects.
“This plan will cater to all our buyers as we want to help potential buyers or investors during these difficult times. Although some developers have already come out with their own promotion packages, our unique tailor-made home ownership plan with additional incentives will appeal to those looking to own properties,” he said yesterday after the launch of the plan.
Among the incentives under the plan are low downpayment from RM500, cash rebates up to a maximum of 10%, low interest rates for the 5:95 payment schemes and 0% interest during a project’s construction period.
Soam said the current economic situation should not deter Malaysians from purchasing their own homes. He said although the current property market was softening, he believed developers could still sell their products with the right products and good location.
This year, IJM plans to launch more than 10 new projects worth about RM750mil in Penang, the Klang Valley, Johor and Sandakan, Sabah.
“However, the launches will depend on market conditions. If the market turns softer, we will review a launch and not simply go ahead with it,” Soam said.
IJM still has about 8,000 to 9,000 acres with potential gross development value of RM17bil that would take 20 years to be developed. Currently, IJM’s property projects are located in Penang, the Klang Valley, Seremban 2, Sabah and Sarawak.
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