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| KSL to launch mixed projects [ 28/02/2003 ] |
SEGAMAT-BASED property developer KSL Holdings Bhd will this year launch two new mixed property development projects, with total development cost of RM127.5mil, within the Johor Baru district.
Its executive director Ku Hwa Seng said the first project would be Taman Nusa Bestari Indah in Ulu Tiram, to be launched in mid-year, followed by another project tentatively named Taman Nusa Bestari Emas, in Kempas, in the final quarter.
He said KSL would invest about RM51.8mil in the Kempas project and some RM75.7mil in the Ulu Tiram one.
''We’ve decided to include the word Bestari (Malay word meaning well-bred, discerning, intelligent) in our future projects, so buyers can associate it with the company,'' Ku told StarBiz on Wednesday.
He said branding was important even for housing developers as competition was becoming stiffer and KSL believed that a strong brand would help to sell its products better.
Ku said Taman Nusa Bestari Indah would be developed on 714.1 acres and comprise 3,500 single - and double-storey terrace houses, and double-storey shop house-cum-offices; and a commercial complex.
He said the company foresaw that the Ulu Tiram area would see an influx of housing developers in the near future as many new projects had been approved there by the relevant authorities.
Ku added that the proposed RM800mil Senai-Desaru Highway with exit points at Ulu Tiram and Pasir Gudang would further boost the property value and create demand for houses in the area.
On the Kempas project, he said that apart from the affordable pricing, the company was banking on Taman Nusa Bestari Emas' close proximity to the Johor Baru city centre as the main attraction.
The 237.8-acre project is near Starhill Golf Resort, about 18km north of the city centre and easily accessible from the North-South Highway via the Kempas interchange.
KSL had not yet finalised the number of houses for this project, Ku said, adding that both projects would keep the company busy for the next four or five years.
''We always go for volume and thin profit as we don’t believe in holding stock (completed houses) as it can really drain out your resources,'' added Ku.
Earlier, in a press conference, he said that the company’s flagship project Taman Nusa Bestari II in Danga near Taman Perling had entered its second phase of development.
This phase would offer another 1,100 single- and double-storey terrace houses, and double-storey shop houses for which the company is projecting a turnover of RM110mil upon their completion.
For the financial year ended Dec 31, 2002, the company recorded a turnover of RM182.947mil and pre-tax profit of RM83.812mil.
Source : The Star 28/2/2003 |
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