KUALA LUMPUR: The first phase of Horizon Hills, a mixed property development project in Nusajaya, Johor, with a gross development value (GDV) of RM200mil, will be completed in about two years. 

Arapesona Development Sdn Bhd, a company formed by UEM Land Sdn Bhd (a unit of UEM Group Bhd) and Gamuda Land Sdn Bhd (a unit of Gamuda Bhd) in a 50:50 joint venture, is the developer of the mega residential project spanning 1,200 acres. 

Horizon Hills has a total GDV of RM2.6bil, comprising 11 phases and 12 precincts, and the whole project should be completed in eight to nine years. 

Commenting on the first phase, UEM Group managing director and chief executive officer Datuk Ahmad Pardas Senim said it comprised 400 units and was the first premier lifestyle residential project with a private 18-hole signature golf course outside the Klang Valley. 

“The initial response to our residential units in the first phase is good,” he told a media briefing yesterday. 

UEM Land managing director Wan Abdullah Wan Ibrahim said the official launch of the first phase was slated for Sunday. 

“The residential units comprise linked houses costing RM245,000 and semi-detached homes from RM1mil each,” he said, adding that a unique feature of the first phase was the density of 4.8 units per acre.  

Wan Abdullah said the project would be financed via internal funds from both parties (UEM Land and Gamuda Land) as well as borrowings from Islamic financial institutions. 

UEM Land is the master developer of Nusajaya - the largest private development in South-East Asia and one of five flagship zones of the Iskandar Development Region (IDR) under the Ninth Malaysian Plan.  

Gamuda group managing director Datuk Lin Yun Ling said: “UEM has an ambitious vision for Nusajaya, an integral component and catalyst for the development of the IDR. We are honoured to be chosen by UEM to be its partner for this strategic and very important project.” Lin said Horizon Hills was very different from the current developments in Johor. 

“We offer distinctive environment architecture and put a lot of emphasis on conservation and maintenance of the natural environment. All 12 precincts will offer different and unique designs and concepts to cater for even the most discerning home owner,” he noted.

Source : The Star 7/3/2007