Engtex is already planning a fifth development in the Tiara series. Lee and his team are currently doing the concept design for proposed semi-detached houses in Bukit Rahman Putra.
Nearer on the horizon is Engtex’s first commercial project, the 3.6-acre Emerald Avenue. The mixed commercial development also in Selayang, with a GDV of RM250 million ,comprises 32 units of 3 and 4-storey shoplots with a street mall, 121 units of hotel suites and 187 Soho units.
Lee hopes to duplicate the success of the Tiara series with Emerald Avenue and start a commercial series.
“But it hinges on the response and feedback for Emerald Avenue, which is scheduled to start construction in 1H 2011 and be completed within three years,” says Lee.
Currently, the property division’s contribution to the group’s revenue is not more than 10% and Lee does not expect it to grow in the short-term.
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