|July 16th, 2007, 07:07 AM||#1|
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Equine Park @ KL
Equine Capital plans RM800mil projects
By S.C. CHEAH
Datuk Patrick Lim Soo Kit
Developer is confident of selling about RM500mil of the RM800mil worth of properties within this financial year
EQUINE Capital Bhd (ECB) is launching RM800mil worth of properties in Kuala Lumpur and Penang for its current financial year ending March 2008.
Group executive chairman Datuk Patrick Lim Soo Kit said the company would be launching seven different products and was confident of selling about RM500mil of the RM800mil worth of properties within this financial year.
The projects are located mostly in its two major developments in Seri Kembangan, Kuala Lumpur (Equine Park, Putra Permai, Permai Park and Pusat Bandar Putra Permai with a total of 900 acres); and the 450-acre Bandar Cassia in Batu Kawan, Penang.
The seven product lines are bungalows, condominiums, apartments, town villas, link houses, semi-detached houses and commercial units.
The RM800mil in gross development value (GDV) does not include another major development it has at the 260-acre site of the Penang Turf Club, which the company has 25% interest. It is expected to undertake a high-end development on this prime land in Georgetown.
Of the RM800mil, about RM523mil in GDV will come from its three main projects in Seri Kembangan, Cheras and Penang (Bandar Cassia).
The coming launches in Seri Kembangan include the Meadow bungalows, Equine Business Park, Rise bungalows, The Crest Hillvillas and the first condominium in Equine Park called Blooming Hill @ Equine Park.
The RM108mil Blooming Hill, to be launched this September, will have three; 16-storey blocks with 395 units of 995 to 1,500 sq ft.
It will boast of a “sky garden” concept where the lift area for every third floor will be landscaped. “Residents can rest in this common area,” Lim told StarBiz after launching the Permai Central Transport Hub on July 6.
The 6.3-acre condominium, to be built on top a hill, will also have electronic lockers near the lifts at the basement car park. Residents can place their shopping bags and other things inside these lockers while they park their cars.
Lim said residents, especially women, often had to carry heavy groceries from their cars to the lifts.
“Instead of leaving their things unguarded at the lifts or lugging them all the way from their car, they can place them in the lockers and retrieve their belongings after parking their cars,” he said, adding that residents would also get to enjoy a 16-acre private park nearby.
There will also be eight maisonette units priced from RM500,000 each by the poolside.
Lim is also pleased that seven of the 12 Meadows bungalows have been sold even before the official launch, slated for September. They have built-up areas of about 4,000 sq ft on about 8,000 sq ft plots. Prices are from RM850,000 to RM900,000. “We have many residents who want to upgrade from a link house to a bungalow,” he said.
On the RM80mil Permai Central Transport Hub in Pusat Bandar Putra Permai, he said 35% of the 108 shop offices worth RM15mil had been sold a month prior to the official launch.
It comprises a five-storey commercial block, four blocks of two and three-storey shop offices and a seven-storey office tower that would be sold en bloc. “We are talking to several colleges that have shown interest in buying the tower,” Lim added.
There will be two basement car parks and about 500 car-parking bays.
The selling price of a two-storey block is from RM638,000, a three-storey block from RM888,000 (corner block is RM1.47mil) and a five-storey block from RM1.7mil.
Lim said the transport hub could accommodate eight buses at a time with about 1,000 passengers per day. Metrobus and Rapid KL, which are currently providing services to the township, will operate from this hub.
SkyBus is also committed to offer its stage bus service from the hub to the LCCT (low-cost carrier terminal) in Sepang when the hub is completed in 2010.
“In the early days we concentrated on populating our township. Now that we have substantial population, we are focusing on providing as many services and amenities as possible. Besides the transport hub and other amenities, we also took it upon ourselves to build the traffic system on the main road,” he added.
“We have many types of products that have consistently given high returns (on investment) and enjoy 25% to 30% appreciation on all landed properties upon handing over,” Lim said.
“We see ourselves as a new age developer that is committed to building a sustainable community and not merely selling homes. We hold the hands of our customers and take care of them all the way,” he added.
|September 25th, 2007, 03:05 PM||#2|
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