HONG Kong-listed Country Garden will launch Plot B of Country Garden Diamond City in Semenyih, Selangor, by September and is upbeat on property sales, against the backdrop of a sound investment market.
Country Garden Diamond City is a 102ha freehold development that is divided into Plot A and B.
It is a 55:45 joint venture between Country Garden, one of China’s top 10 developers and Mayland Group.
Plot A was launched last November, comprising 415 units of luxury link houses, bungalows and mansions worth about RM710 million.
According to Country Garden Malaysia regional sales and marketing general manager You Li, 70 per cent of the units were sold during the first week of its launch.
Each unit was sold for between RM700,000 and RM5.4 million. Eighty per cent of the buyers were Malaysians and the rest were from China.
Li said the joint venture decided to keep the remaining units in Plot A and are now opening them to the market again.
“We have increased the prices by over 20 per cent because of on-going infrastructure development here, and also the entry of big boys like Eco World Holdings Group Bhd and SP Setia Bhd, which is boosting property prices here.
“I am quite confident we will be able to sell all the remaining units this month,” he said.
For Plot B, the joint venture will have more than 500 units of semi-detached homes and bungalows, worth about RM1.7 billion, Li said.
Diamond City is supported by large facilities that include a clubhouse and world-class golf-themed landscape garden elaborately designed by China’s chief golf course designer.
It is located opposite the University of Nottingham Malaysia campus and is 30km from Putrajaya and 45km from the Kuala Lumpur city centre.
Country Garden, which has achieved RM5 billion sales from Country Garden Danga Bay in Johor within one year, will consider more developments in Malaysia, Li said.