The Valley@Bentong will have a gross development value (GDV) of RM152.7 million.
Bina Puri purchased the land measuring 647.5ha in 2013 for RM47.5 million.
The project, located 3.5km away from Karak town, aims to create a farming community by offering agriculture-based concept of farming and homesteads.
Bina Puri group executive director Datuk Matthew Tee said the development has four zones and the first zone is known as “The Kerau” (Phase 1 & Phase 2).
The Kerau, with total development area of about 243ha, consists of homestead development, including a clubhouse.
The soft launch for Phase 1 started in December 2016 with 158 lots, with each lot 0.40ha or slightly more.
Phase 1 was sold at between RM5 and RM6.50 per sq ft (psf).
“We achieved more than70 per cent sales within six months and it has exceeded that today. Due to the overwhelming response, we subsequently decided to open Phase 2 which comprises 138 lots for sale with prices starting from RM5.88 to RM8.09 psf,” said Tee after launching the project recently.
Primary Industries Minister Teresa Kok, Bentong member of parliament Wong Tack, Bina Puri chairman TanSri Wong Foon Meng and Bina Puri group managing director Tan Sri Tee Hock Seng were present during the ceremony.
Tee said for zone 2 involving Phase 1 and Phase 2, Bina Puri has allocated around 93.08 ha for cash crops and durian plantation.
Currently, for Phase 1 involving 40.47ha has some2,600 trees planted while for Phase 2, which is also 40.47 ha, has about 2,500 trees planted, said Tee.
“The first harvest is expected within five to six years. For zone 3 and 4, we have sold 433 acres of leasehold land and the balance 333 acres will be reserved for future development,” he said.
Tee expects The Valley @ Bentong to become one of the most sought-after developments in Karak due to the proximity to Kuala Lumpur and tourist hotspots such as Genting Highlands and Berjaya Hills in Bukit Tinggi.
Karak is also the best orchard location to grow durians, especially the popular Musang King, he said.
“All these encourages city folks to create their home away from home, thus providing a more enriching lifestyle and enabling residents and owners to enjoy the fruits of their labour,” Tee said.