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| KSL to launch mixed project next year [ 22/11/2002 ] |
SEGAMAT-BASED property developer KSL Holdings Bhd will launch a new mixed property development project in Kempas, near Johor Baru towards the last quarter of next year.
Managing director Michael Khoo Cheng Hai said the 237.845-acre project, tentatively known as Taman Nusa Bestari Emas, would have 3,500 units of residential and commercial properties to be completed in 4 to 5 years.
The project would be located about 18km north of the Johor Baru city centre and near the Kempas Interchange, south of Starhill Golf Resort.
''The layout plan was submitted to the relevant authorities in August and we hope to receive approval for the plan in the first-quarter of 2003,'' Khoo told Star Business on Thursday.
The project is sited on the freehold agricultural land that KSL unit Khoo Sean Lee Realty Sdn Bhd had proposed to acquire from Johor Corp in August in line with the group’s plan to enlarge its land bank at strategic locations in the country, especially growth areas in the southern region of peninsular Malaysia.
Khoo said the acquisition would enlarge the group’s land bank to 2,097 acres and would keep it busy with property developments for many years.
He said the company’s shareholders had, at an EGM in Segamat on Wednesday, approved the acquisition of the said land for RM51.802mil, to be funded by internal sources.
Khoo also said the company’s flagship mixed property project Taman Nusa Bestari II near Danga, Taman Perling, launched last April, was progressing well and 98% of the 1,150 units had been sold.
He said the units would be completed towards the end of this year and the first batch of house-buyers would be able to move in by next May.
Source : The Star 22/11/2002 |
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