BERJAYA Land Bhd (BLand) is selling the remaining freehold bungalow lots at The Peak @ Taman TAR in Ampang Jaya, Kuala Lumpur and is capping their price at RM15 million each, says senior general manager of properties marketing Tan Tee Ming.
BLand launched The Peak more than a decade ago with 88 bungalow lots, priced from RM1.7 million to RM12.7 million, or RM150 to RM268 per sq ft (psf).
The Berjaya Corp Bhd subsidiary has to date sold 73 lots in the low-density guarded-and-gated (G&G) development.
According to Tan, the majority of the buyers are industry captains.
The Peak is sited on a 27.1ha freehold development with 88 carefully-gazetted bungalow lots of 8,624 to 71,944 sq ft. These ready-to-build lots allow buyers the freedom to turn their dream home into a high-value property.
“We have 15 bungalow lots left to sell. They are bigger lots and we are trying to cap the price at RM15 million each or around RM300 psf. We are confident of selling the remaining lots, despite the current market conditions.
“The Peak is one of few last G&G developments in the prestigious neighbourhood. G&G is a successful development type. Malaysians like G&G because of security and its concept,” he told NST Property.
Tan said The Peak is an elite sanctuary for families, a much-coveted address for those who desire a luxurious home amid “nature’s grandeur”. It is exclusive with private road access to the enclave.
“It is rare to find a development in Kuala Lumpur that is surrounded by greenery and located in a hilly area. Those who bought land at The Peak, they are slowly coming in to build their homes. In fact their investment in the land have increased a lot since the day they bought it,” he said.
Strategically located within a pristine green lung at Taman Tun Abdul Razak and against the undulating landscape adjacent to the Ampang Forest Reserve, The Peak offers spectacular views of Kuala Lumpur city skyline and Kelab Darul Ehsan Golf & Recreation.
There are International School Kuala Lumpur, Ampang Puteri Specialist Hospital and Ampang Point shopping mall nearby the development.
In addition, the project is close to business and financial institutions, restaurants and many more within the radius of a 15-minute drive.
The Peak’s gateway into the G&G community is impressing. The grand entrance assures uncompromised attention to each and every resident’s privacy and safety with 24-hour CCTV surveillance, intercom system and regular security patrols.
NEW LAUNCH IN SHAH ALAM
Tan said BLand is launching its next project, Timur Bayu Residence, in Shah Alam, Selangor.
The high-rise duplex condominium project has a gross development value (GDV) of RM330 million, he said.
“We are selling bigger units ranging from 1,300 to 1,800 sq ft. For the indicative selling price, we hope to break the RM500,000 mark.”
Timur Bayu also comprises landed villas with GDV of more than RM300 million.
The project is located on 3.4ha land within Berjaya Park (formerly known as Berjaya Industrial Park) near Bukit Kemuning Golf & Country Club.
Berjaya Park is an integrated residential, commercial and industrial township that is easily accessible via several highways including Kesas Highway, North-South Central Link, North-Klang Valley Expressway and Federal Highway.
Previous residential developments in Berjaya Park include Hazel, Hazel 2, Aspen, Mulberry and Maple, which were all sold-out.
BUILDING SMART AFFORDABLE HOMES IN MYANMAR
BLand was recently awarded a public housing and mixed development project in Yangon, Myanmar, which could generate a GDV of RM2.63 billion.
In a filing with Bursa Malaysia, the group said the contract was awarded by the Yangon Region government.
The 74.05ha project comprises 14 parcels of mixed development which will include affordable housing, mid- to high-end condominiums, shop houses, retail spaces, the farmers market, community hall, schools and infrastructure, and will be built over three phases.
Apart from 10,000 residential units, the project will have commercial space with about 1.2 million sq ft for retail. BLand is inviting entities, such as hospitals and international schools, to take up the space.
The project, which is located about 40 minutes from downtown Yangon, is reportedly expected to take off early next year.
“Based on the preliminary plan of the proposed development, the estimated GDV is about RM2.63 billion,” said BLand.
Yangon Region Chief Minister U Phyo Min Thein said the public-housing portion of the Dagon Seikkan Smart City District project is expected to provide homes for 30,000 civil servants who are retiring next year.
The smart-city project initially started as a government effort, but a decision was made to involve the private sector to speed it up.