Developer sees a better year for residential sector

Property launch: Rosli posing with a landscape model of Puncak Bestari 2. He says the company will launch 90 double-storey linked units this weekend.

Property launch: Rosli posing with a landscape model of Puncak Bestari 2. He says the company will launch 90 double-storey linked units this weekend.

 

SHAH ALAM: Worldwide Holdings Bhd, one of the pioneer developers in Puncak Alam, Selangor is seeing a gradual improvement in the residential property sector.

Although last year was particularly slow, it expects this year to perform better, said general manager for the property division Rosli Ismail.

“This year has been better than last year, the momentum is good going forward, said Rosli.

The company is targeting a sales value of RM289mil this year and has scheduled three projects to launch. It has already launched 41 units of bungalows in Subang Bestari and this weekend will launch 90 double-storey linked units in Puncak Bestari 2, in Puncak Alam, Selangor where the group has its roots.

Rosli said the group is targeting to achieve a sales value of RM356mil for 2018 and has scheduled for launch four projects.

On the current status of Puncak Alam, where Worldwide group is a pioneer, Rosli said Puncak Alam has attracted quite a number of developers as a result of the improved infrastructure the last 10 years.

“The development of various highways has made Puncak Alam, which is under the Kuala Selangor local council, more accessible. The improved road networks also attracted other developers to enter this location and this has created a lot of interest here.”

The Worldwide group has developed 637 acres in Puncak Alam. It has currently has a land bank of 894 acres yet to be developed with the total estimated gross development value of RM7bil.

Worldwide Holdings has been developing residential housing in Puncak Alam for 12 years. It has been in the property business 24 years. It is, however, only lately that the team is seeing a flurry of activities in the area.

Rosli said there are two things which are important today – pricing and bread-and-butter housing.

It will be adhering to this strategy in this weekend’s launch of Azalea, which comprises 90 units of double-storey housing.

Located in Puncak Bestari 2, Puncak Alam, 70% of the 90 units, or 63 units, are reserved for bumiputra buyers priced from RM592,300. There will be 27 units, or 30%, for non-bumiputra buyers priced from RM636,000, said Rosli.

“Double-storey linked units are the most popular,” said Rosli.

“The fact that the units they are launching this weekend are already 60% complete will also sit well with buyers. Buyers can see for themselves the quality we are giving them,” said Rosli.

Azalea is a guarded project but is not a strata gated and guarded development.

Puncak Bestari 2, an extension of the first phase of Puncak Bestari, is a 71-acre development. Besides linked two-storey housing, it will also have bungalows, semi-detached units and 456 units of Rumah SelangorKu affordable housing and about 20 units of two-storey commercial retail when the entire 71-acre is completed in 2021.

Rosli said other developers in Puncak Alam include IJM group, Eco World Development Group Bhd, MKH (formerly Metro Kajang) and LBS group.

Besides property development, Worldwide group is also involved in environment management services, manufacture of medical devises and investment.

 

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