IOI Expects Brisk Sales Of Adenia Phase 1 Home

IOI Corp Bhd’s property arm IOI Properties Bhd is confident of selling all 147 residential units offered under phase one of its Adenia project by tomorrow.

IOI Corp (property division) general manager Teh Chin Guan said the two-phase Adenia was a component of its mega property project 16 Sierra in Puchong.

To be completed by 2020, the project has a gross development value of RM2bil.

Worth RM70mil, phase 1 of Adenia had already recorded 50% booked sales, he said.

Based on this encouraging response, the company expected the remaining available units to be taken up soon, Teh said after the soft launch of Adenia yesterday. The official launch of Adenia is today.

The average price per unit is about RM448,900. The two-storey terrace homes have a lot size of 22ft by 75ft and are targeted for handover by the middle of 2011.

“Phase 2 will comprise 60 units worth RM50mil in total and should be launched in a couple of months,” Teh said, adding that prices for Phase 2 units would be slightly higher than in Phase 1.

Teh said there would be 14 other small residential property projects to be developed in 16 Sierra, which sits on 535 acres in the southern part of Puchong and near Cyberjaya and Putrajaya.

IOI Corp general manager (marketing and business development) Lee Yoke Har said 16 Sierra would have a central park and 16 interconnected themed gardens.

When fully developed, 16 Sierra would have 3,838 residential units and each property project would be gated, Lee said.

On IOI Properties’ performance, Lee said it had not been significantly affected by the economic downturn last year.

“We maintained our sales growth last year despite the tough times and with the expected recovery of the property market this year, the company expects to perform even better,” she noted.

Source: The Star