SHAH ALAM: Worldwide Holdings Bhd (WHB) is confident that its latest high-end project, Ametis in Bandar Pinggiran Subang here, will be fully sold by year-end despite signs of a soft property market.
This is based on the initial response from potential buyers to the project, which has a gross development value (GDV) of RM38 million.
WHB chief executive officer Datin Paduka Norazlina Zakaria told Business Times in a recent interview that Ametis has breached the 40 per cent take-up mark so far.
“This is almost half the number of units on offer,” she said, noting that most of the buyers are locals.
Norazlina believes Ametis
will do well in the market due
to its strategic location,
good quality, excellent
connectivity and matured surrounding.
She added that there is a growing trend of high-end buyers looking for low density living in green enclaves.
Expected to be completed in the third quarter 2016, Ametis is located on a 1.32ha leasehold site, nestled among several established developments of WHB’s premium landed properties, namely Zamrud, Safira, Nilam and Delima.
It comprises 20 units of semi-detached with built-up areas ranging between 3,284-3,743 sq ft. Prices start from RM1.7 million upwards.
According to Norazlina, Ametis is the last offering of luxury semi-detached within its low density Subang Bestari township. The 202.34ha Subang Bestari, which is worth about RM3.2 billion, has almost reached its tail-end of development.
The total population there now is estimated at 13,000 and expected to reach up to 33,000 when fully completed in the next four to five years.
WHB has a total landbank of 1,100ha amounting to a GDV of RM5.73 billion, which Norazlina said will last the company for up to five years.
For financial year 2013, the group achieved a profit before tax of RM117 million on a revenue of RM270 million, with the property development division contributing 60 per cent.