| Ireka Land
Expects To Carry Out Projects Worth RM1 Bln |
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KUALA LUMPUR, July 12
(Bernama) -- Ireka Land Sdn Bhd expects to carry out projects
worth over RM1 billion in gross development value (GDV) over
the next four to five years, its chief executive officer, Lai
Voon Hon said Wednesday.
He said although the company's
land bank size (yet to be developed) was considered small,
their locations were in prime areas, including four hectares
in Mont Kiara here, another 20 acres in Kota Kinabalu and in
Sandakan.
"We are continuously looking for additional
land banks both local and overseas," he told reporters at the
launch of the company's latest condominium project, Tiffani by
i-Zen, here, today.
Ireka Land is in talks with
overseas partners for high-end residential and commercial
joint-ventures particularly in India and Vietnam.
"We
also continue to have high regards for the China market.
However, there is no rush to go into China as it offers vast
opportunities," Lai said.
As for the company's latest
offering, Tiffani by i-Zen, it is being jointly developed with
Singapore-based CapitaLand Financial Limited.
It offers
a total of 399 condominium units and has already registered
close to 50 percent in pre-launch sales.
CapitaLand
Financial is a subsidiary of CapitaLand Limited, which is one
of the biggest listed property companies in Asia.
"We
hope the units would be fully taken up before its completion
which is expected to be in middle of 2009. We are confident
due to the location and the partnership," said
Lai.
Tiffani by i-Zen, which is expected to rake up
sales of up to 70 percent in three to four months time, has a
GDV of RM350 million, and has a mix of local and foreign
clientele.
The units range in sizes from 815 sq ft to
8,011 sq ft, and are priced from RM390,000 to RM4.6
million.
Managed in association with Ascott
International, the property offers concierge services at each
lobby, optional housekeeping, 24-hour state-of-the-art
security and other facilities and amenities.
-- BERNAMA
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