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Categories
| Hua Yang plans RM350m property project in Johor |
| Business & Market 2009 | |||
| Written by The Edge Financial Daily | |||
| Wednesday, 02 September 2009 23:34 | |||
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In a statement today, the company said the commercial units, double-storey terrace houses, cluster homes, semi-detached units and bungalows would be sold from RM220,000. Hua Yang said it recently purchased 140.87 acres of freehold land in Johor worth RM35.15 million for the township. The site is along the Skudai-Pontian highway and 1km away from Hua Yang's present RM1.2 billion mixed development, Taman Pulai Indah. Taman Pulai spans 477 acres and is Hua Yang's flagship development in Johor. The acquisition is Hua Yang's second land deal for the year after it sold a sizable plot of land in Perak for RM3.23 million to Tesco earlier this year. Hua Yang chief operating officer Ho Wen Yan said the ongoing Iskandar Malaysia project in Johor would result in positive take-up rates in surrounding areas, including the Skudai-Gelang Patah Corridor. "Having operated in Johor for the past eight years, we are positive our newly acquired land is in a good location, considering there is a ready catchment of buyers and an existing development just 1km away," he said. Ho said the company's philosophy of affordable, quality homes would ensure that the new project will meet the community needs. "Hence, even as we embark to enter the mid-high end segment in Johor, the pricing is likely to remain competitive," added Ho.
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