More upmarket launches from YTL

The Star Online, July 19, 2004


YTL LAND & Development Bhd is leveraging on the good demand for its lifestyle homes in Lake Edge, Puchong, to launch more upmarket properties in the gated community enclave and other parts of the Klang Valley.?

“Demand for our properties has been very encouraging and we are in a good position to take advantage of the strong demand for well-designed homes, especially those in good locations and having strong community living environment,” executive director Datuk Yeoh Seok Kian told StarBiz.?

As part of a 10-year programme to nurture it into one of the leading developers in the country, the group is working towards building up its land bank in strategic locations and promoting a strong brand identity for YTL Land.?

YTL Land has a land bank of more than 1,500 acres, which would keep the group busy for at least the next seven to eight years. Yeoh said the group’s target of achieving an annual compounded growth of 20% of group earnings was achievable based on the strong sales recorded so far.?

Since the launch of the Lake Edge gated community in April, all the 175 courtyard homes priced from RM380,000 to RM788,000 have been sold, for a gross development value (GDV) of RM100mil.?

Yeoh said that in response to the many enquiries for the Lake Edge homes, it would launch three more home types next month.?

They comprise 41 units of Pavilion Terraces with built-up of 3,186 sq ft, 46 units of Garden Terraces (3,117 sq ft), and 33 units of Promenade Homes (3,300 sq ft). The 2?-storey homes would be priced from RM580,000, RM500,000 and RM650,000 respectively.?

Pavilion Terraces offer buyers an additional living room at the back portion of the house while Garden Terraces come with an outdoor jacuzzi that overlooks a 25-ft private back garden.?

The lake-fronting Promenade Homes will be the last of the link home series at Lake Edge. ?

To take advantage of its prime location, the living room has been intentionally designed to sit on the first floor with floor-to-ceiling windows to offer full views of the lake.?

The last phase of Lake Edge to be launched by the year-end will comprise eight semi-detached homes, with built-up of 3,500 to 4,000 sq ft, and 14 bungalows of 4,500 sq ft. ?

The GDV for this phase is expected to be between RM20mil and RM30mil.?

“Lake Edge is fast taking shape and the project’s completion is targeted for July 2006. The proposed clubhouse for the community has been approved while the linear park and promenade along the beach-front is already underway.?

“The development has set a new benchmark for residential homes in Puchong and raised Lake Edge's profile as an upmarket residential address,” Yeoh said.?

Besides Lake Edge, other notable YTL Land projects include the Sentul Raya development in Sentul and Pantai Hillpark in Pantai Dalam, Kuala Lumpur.?

The urban renewal exercise for the 298-acre prime freehold land in Sentul will see the emergence of two distinct areas – Sentul West and Sentul East, each characterised by its own unique personality.?

The development, with an expected GDV of RM7bil, would comprise 7,000 residential units, commercial offices and retail outlets, to be undertaken over the next seven to eight years.?

Since the project’s launch in 2002, properties worth RM216mil had been sold, comprising The Tamarind at Sentul East and The Maple at Sentul West.?

Of the RM130mil properties available at The Tamarind, 88% had been sold while 68% of the RM150mil The Maple had been sold.?

Earmarked for launch in the last quarter of this year will be 407 more units of The Saffron at Sentul East, with GDV of RM200mil, and 398 units of The Mulberry at Sentul West, worth RM350mil.?

Yeoh said Pantai Hillpark, another signature development by YTL Land, had also become one of the most sought-after residential addresses in Kuala Lumpur.?

Based on the unique Andalusian architecture of southwest of Spain, the 90-acre Pantai Hillpark boasts the city’s first Mediterranean inspired condovillas.?

So far, properties worth RM300mil had been sold, including the latest phase that featured Andalucia homes.?

He said launches in the fourth quarter of this year would include a 5-acre commercial centre with food and beverage outlets, two to three storey retail and office outlets combined with lofts and studio apartments on the upper floors, a child care centre and a community hall.?

The remaining 40 acres will be reserved for an exclusive enclave of 100 semi-detached homes and bungalows. The estimated GDV for these future launches would be RM400mil.?

Another YTL Land project scheduled for launch later this year is a new mixed development on 236 acres in Sungei Besi.?

The project featuring a mix of medium-cost to higher-end properties including terrace houses, semidetached homes and bungalows would have an estimated sales value of RM800mil.?


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