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Discussion Starter · #1 ·
PJD sees brisk sales
By S.C. CHEAH



KUALA LUMPUR: PJ Development Holdings Bhd (PJD) has sold all 185 serviced apartments in one of two blocks for its Swiss-Garden Residences project.

Executive director Yap Yoon Kong said the 33-storey Tower A was fully sold when the 1.7-acre freehold development at Jalan Galloway, off Jalan Pudu here was launched on May 31.

“We launched the 37-storey Tower B the following weekend and sold about 40% of the 251 units,” he said, adding that buyers were local and foreigners from Hong Kong and Singapore.

Yap said construction work would be stepped up in view of the rising costs. “We have made some adjustments with our contractors who are also committed to ensuring the success of the project,” he told StarBiz.

He said the apartments, priced from RM333,888 for the first block were the only one of its kind in the area and would be managed by the Swiss-Garden International Hotels, Resorts & Inns.

The apartments have built-up areas ranging from 550 to 2,700 sq ft for the penthouse units. Tower A has four layout designs and Tower B seven.

The facilities include 24-hour security, CCTV cameras, access card system to the lifts, squash court, sauna, infinity and wading pool, gymnasium and children’s play area while services include broadband, laundrette and convenience store. There will also be a banquet hall and function rooms.

Slated for completion in April 2011, the project is being developed by Superville Sdn Bhd, a wholly-owned subsidiary of PJD.

Superville general manager James Chew said buyers would get a free parking bay per unit. There will be basement car park and five levels of above ground car park. There will also be a link to the adjacent Swiss-Garden Hotel.

Chew said sales were still moving despite the recent oil price increase. “When we did piling the price of steel was RM1,800 per tonne. It has now gone up to RM4,000 per tonne.”

PJD has several projects in the pipeline. They include the leasehold Sierra Oakleaf in Bukit Antarabangsa here that would be developed on a “build-then-sell” concept. It would comprise 20 semi-detached homes priced around RM2mil each.

The company bought over a project in Jalan Tun Razak a year ago. It plans to build offices and retail units there and hopes to sell it en bloc.

It also has a high-end project called Duta Kingsbury @ Dutamas in Sri Hartamas here where it will build three-storey super-link houses and two blocks of condominiums.

Yap said it has not yet decided on the launch dates of the three projects.
 

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BacolodInasalAddict
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very nice how much per unit??
 

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Discussion Starter · #7 ·
very nice how much per unit??
Service in the heart of KL
By THEAN LEE CHENG

PJ Development's new apartments already attracting the crowd

PJ Development Holdings Bhd expects a steady income flow from various projects over the next three years despite the uncertain global and national economic outlook. Judging from the sales of its Swiss-Garden Residences in the last three months, this appears to be a realistic expectation.

“We have yet to launch but the first block of Swiss-Garden Residences, located along Jalan Galloway, is already 80% sold with buyers from Singapore, Hong Kong and Malaysia,” says executive director Yap Yoon Kong.

The 436-unit project, on 1.7 acres of freehold land, comprises a 37 and a 33-storey block. One of the blocks will be directly linked to the four-star Swiss-Garden Hotel via a covered bridge. Both blocks will be linked at the podium level.

Yap says the selling point is the location, which is at the fork between Jalan Bukit Bintang and Jalan Pudu. “This place is vibrant and is located near a tourist shopping area,” he adds.

“We are able to offer a guaranteed return of 7% over the next five years, with an option to extend another five,” says Yap.

The concept of a serviced apartment with Swiss-Garden Hotel offering its services is another attraction.

“The hotel has an occupancy rate of more than 80%. We own and manage the hotel, together with another four located throughout the country.

“Linking the residences to the hotel and providing services to match is just a small extension. That is why we are able to offer a guaranteed return of 7% over the next five years, with an option to extend another five,” says Yap.

The company is working on a service charge of 35 sen per sq ft, which it will waive for the first five years.

The group owns Swiss Inn in Kuala Lumpur's Chinatown, Sunway Hotel in Georgetown, Penang and Swiss-Garden Resort and Spa Damai Laut off Pangkor and Swiss-Garden Resort and Spa in Perak and Kuantan respectively. It also has another property, Garden-Lodge, in Sydney, Australia.

On the upcoming service apartment, Yap says the unit size ranges from 550sq ft to 2,700sq ft.

Priced between RM330,000 and RM2mil, he says this works out to RM800 psf, which is relatively attractive considering how land prices have moved up of late.

The development has a gross value of between RM260mil and RM270mil.

The project is within walking distance of Plaza Rakyat - an integrated development which has had its fair share of starts and stops - and a stone-throw away from the former Pudu prison, which is expected to be redeveloped.

“These are projects in our vicinity. Once they are up and running again, they will add to the value of our development,” he says.

The group has five core divisions; the hotel and leisure business involves ownership, hotel operations and its time-sharing business.

This, says Yap, offers a steady recurring income. The hotel and leisure divisions contribute between 20% and 30% to group income.

Other divisions include trading of building materials and manufacturing of power cables.

The contribution from both is insignificant but strategic as they help the company keep tabs of market conditions.

Its property and construction divisions are by far the most lucrative, as both contribute between 50% and 60% of group revenue annually.

PJDH chalked up a six-month cumulative revenue of RM356mil as at end December 2007, compared with RM252mil for the same period in 2006. Profit before tax amounted to RM87mil and RM19mil respectively.

The group has about 1,500 acres of undeveloped land in Selangor, Kuantan, Butterworth and in the states of Johor and Perak.

Besides the service apartment project, the company will also launch its gated and guarded development Duta Kingsbury in Sri Hartamas in the next several weeks.

The 10-acre freehold development will have 64 units of linked houses and 200 condominium units split over two blocks. Unit sizes range from 2,000sq ft to 6,500sq ft.

Units are furnished with kitchen cabinets, cooking appliances and refrigerators while its standard landed terraced units (24ft x 75 ft) with air-conditioners.

Facilities include a swimming pool, a gym, tennis and squash courts, meeting rooms and a multipurpose hall. Maintenance is at 24 sen psf.

This strata development will be completed by 2011.

“With the Mont’Kiara and Sri Hartamas amenities like malls, international schools and strong food and beverage outlets, Duta Kingsbury will boost our income considerably.” he says.

Prices for landed and condominium units range from RM1.4mil to RM6mil. Duta Kingsbury will have a development value of RM580mil.

The company also took over an abandoned 28-storey office block in Jalan Tun Razak, which it will complete next year and aims to sell en bloc for about RM300mil.

The company has other projects in Bukit Antarabangsa and Cheras.

More infos:
http://www.swissgarden.com/
 

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I accept with information:The 10-acre freehold development will have 64 units of linked houses and 200 condominium units split over two blocks. Unit sizes range from 2,000sq ft to 6,500sq ft.
Units are furnished with kitchen cabinets, cooking appliances and refrigerators while its standard landed terraced units (24ft x 75 ft) with air-conditioners.
Facilities include a swimming pool, a gym, tennis and squash courts, meeting rooms and a multipurpose hall. Maintenance is at 24 sen psf.
 
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