RICH Focus Corp Sdn Bhd, a leading property developer in Penang, is launching three projects with gross sales value of RM166mil this year.

Group managing director Victor Wong told StarBiz the first to be launched would be the second phase of Krystal Point Corporate Park (KPCP) comprising 196 small home offices with a gross sales value of about RM30mil.

Victor Wong

''This phase, known as Krystal Suite, is about 90% completed. Although construction work for the project was started in 2001, we did not initiate the sales launch because we wanted to complete and sell all the units of the first phase of KPCP, comprising 171 office suites.''

The second phase is due to be launched on June 6.

Wong said the Krystal Suite units, which have built-up areas of between 500 sq ft and 1,000 sq ft, could be used as offices and as homes.

He said the concept of a small home office was gaining popularity in the country.

''We are targeting the sales and rental of the units for businessmen who regularly visit the Bayan Lepas Industrial Estate on business trips.

''Home offices are less expensive than renting a hotel room as their rental is between RM100 and RM150 per day. We are also providing the purchasers with guaranteed rental returns,'' he said.

The Krystal Suite units, priced between RM148,800 and RM250,000, come with complete home and office furnishings. Residents will also have access to a swimming pool and clubhouse facilities.

According to Wong, the capital and rental value of residential and commercial properties in the southern district of the island had been steadily increasing by between 10% and 20% over the past five years.

The second project to be launched will be Krystal Point Commercial Centre comprising 265 shoplots, with a gross sales value of about RM70mil.

''The built-up of the lots are between 300 sq ft and 1,200 sq ft. The selling prices are between RM58,000 and RM500,000.

''We have already sold 80% of the units since the soft launch in January,,'' he said, adding that construction work would start in October for completion in late 2004.

The third project, a gated community comprising 264 double storey terraced and semi-deatched houses in Bukit Tengah, Seberang Prai Tengah, would kick off in December 2003. ''The build-up of the terraced units is 2,000sq ft and the selling price is between RM230,000 and RM260,000. The double storey semi-detached unit has a build-up of 2,600sq ft and sells between RM280,000 and RM320,000.'' The project is scheduled for completion within 24 months,'' he said, adding that the project had a gross sales value of about RM66mil.