JOHOR-BASED property developer Focal Aims Holdings Bhd will launch its first development project outside the state in its 2006 financial year.

Executive director Yee Yok Sen said the company would sign an agreement soon to purchase 25.9 acres in Subang, Selangor for RM62mil.

''We plan a mixed project that will be developed over five years,'' Yee told StarBiz after the company AGM yesterday.

He said the site was surrounded by several mature and on-going housing schemes and a project there would go well with most prospective buyers.

Yee said research done by the company found that the take-up rate for properties within the vicinity was good due to its easy accessibility.

He said the company did not see any problems competing with other developers in the area as they had different marketing strategies.

''Unlike in Johor Baru where pricing is the main criteria, generally, property buyers in the Klang Valley area go for quality,'' said Yee.

He said if the Subang project were successful, it would pave way for the company to further expand its presence elsewhere nationwide.

Yee said the company would be launching the remaining 80 units of the double-storey semi-detached houses at its flagship project, Kota Masai, this year.

He said this was part of the 134 units within a gated enclave targeted at those currently living in Masai and Pasir Gudang who were looking to upgrade their homes.

Yee said the company had to date sold and delivered more than 13,000 units of mixed properties, mostly priced below RM200,000 per unit, at the 10-year-old scheme.

''Masai and Pasir Gudang are becoming more attractive to house buyers as the areas will be well connected when the new Senai-Desaru Highway is completed in 2007,'' he said.

For the financial year ended Sept 30, 2004, Focal Aims recorded RM78.5mil revenue against RM71.5mil in 2003. Its pre-tax profit was RM10.3mil in 2004, compared with RM17.9mil in 2003.

Source : The Star 15/03/2005