SUNWAYMAS Sdn Bhd, which has five property projects under way in Selangor, expects sales to rise to RM190mil this year from RM150mil in 2002, and to RM200mil in 2004, executive director Lee Teong Chye said.

The projects, at various stages of development, are Teluk Gedung Indah in Klang (RM96mil), SunwayMas Commercial Centre in Petaling Jaya (RM128mil), Rawang Perdana 2 (RM150mil), Pusat Bandar Bangi (RM250mil) and SuteraMas in Kajang (RM19mil).

Its future projects include Mont Putra in Rawang (slated for launch in 2005), Serendah Golf Resort (later this year), Serendah Techno Park (2005) and Ivory Hills Orchard in Kerling (end 2004).

Speaking at a press conference yesterday on the week-end launch of Sunway Batu Caves mixed development, Lee said the Batu Caves project would bring in sales of RM300mil.

Located on 56.75 acres in the commercial hub of Sri Gombak, the three-phase development is slated for completion in four to five years, of which 10% would comprise commercial property.

Phase one features 61 four-storey shoplots and 366 service apartments. The 1,330 sq ft shoplots are priced from RM372,388 and the 730 sq ft apartments from RM79,888.

Sales and marketing manager Madeline Soo said the expected return on investment for Sunway Batu Caves was attractive, with the shop units able to fetch rental of RM3,000 a month.

''The commercial lots in the surrounding areas are fetching 8% yield and with its location within a mature development, the shop lots here should be able to do well,'' she said.

Soo said, so far, some 1,000 people had registered for the various property units.

Jointly developed with land owner Jeneba (M) Sdn Bhd, the project includes 361 double-storey terrace houses, 200 units of high-rise apartments, 38 industrial buildings and three commercial lots with size ranging from 0.5 acres to 1.78 acres.

On the outlook for the property market, Lee said the economic package announced recently augured well for the industry.

''Demand for property is still buoyant, especially for those in the right location.''

Source: The Star