16 Jan 2007

UM Land to build more high-end properties

By ZAZALI MUSA

JOHOR BARU: United Malayan Land Bhd (UM Land) plans to introduce more high-end residential properties for future launches at its Seri Austin township.

The move would cater for local home up-graders and Singaporean buyers, sales and marketing senior manager Ivan Chooi Kin Pheng said.

In the pipeline were bungalows priced from RM1mil each, he said, adding there were potential buyers here and from Singapore.

“The Johor Baru property market is now ready for the high-end property and UM Land wants to reposition itself as the high-end property company here,” he said.

Ivan Chooi Kin Pheng with the Vanda Cluster Homes models

He said more owners of single- and double-storey houses in Johor Baru had upgraded to semi-detached houses and bungalows in recent years.

“Most of them will want to move within the vicinity of the estates they now live,” Chooi told StarBiz at the recent launch of 54 units of Arista Tropical Homes and 64 units of Vanda Cluster Homes.

The double-storey link Arista has built-up areas from 1,822 sq ft priced from RM218,640 while the semi-detached Vanda offers 2,255 sq ft area from RM288,000.

Chooi said the property value in southern Johor would likely appreciate in years to come.

“This year we will advertise our township project in Singapore over the radio there,” he said.

He said the company was in a good position to attract more buyers from the republic as Singapore-based CapitaLand Ltd owned 21.58% stake in UM Land.

The 202.42ha township in Tebrau, launched in 2005, has to date chalked up RM134mil in sales.