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

Tempo Sees More Bookings

Tempo Properties Sdn Bhd expects another 30% of the second phase of its The Atmosphere commercial development in Seri Kembangan to be taken up by this weekend.

The 20-acre phase comprises five components and encompasses shop offices, designer small office/home office (SOHO) suites, boulevard shops and retail outlets.

Chief executive officer Khoo Boo Hian said type A, comprising 30 units of three- and four-storey shops, was already sold out following a series of previews. It will be launching 106 more units under types B, C and D tomorrow.

“We are optimistic that our pricing strategy, the project design and the incentives we are providing will appeal to buyers,” he told StarBiz in a telephone interview yesterday.

The second phase was targeted at investors and business people, he said, adding that the units were priced from RM860,000.

“We will be covering the (loan) interest during construction. We will also be providing a 6% rental guarantee for the third and fourth floors for a year for type-D units. This is so that the owners can take their time to look for tenants.”

Types B to D comprise four- and five-storey units.

Khoo also said The Atmosphere was being developed in a “fast growing area”.

“The area is fairly developed. There is already a Jusco (supermarket cum department store) there, with Giant and Tesco (hypermarkets) also coming up. The Atmosphere is being developed in what we like to call the heart of the golden triangle of southern Klang Valley.

“We see great potential for growth,” he said.

The commercial development is accessible via major highways such as Lebuhraya Damansara-Puchong Expressway, South Klang Valley Expressway, Maju Expressway and the North-South Highway.

The Atmosphere, with a gross development value (GDV) of about RM900mil and comprising three phases, is located on over 40 acres that are being jointly developed by Tempo Properties and main market-listed Eksons Corp Bhd.

Khoo said the first phase was sold for RM23mil for the development of the Giant hypermarket.

Phase 2 has a GDV of RM300mil. The third phase, with a GDV of up to RM600mil, is expected to be launched within two years, said Khoo.

“Development of The Atmosphere is expected to be completed by early 2014,” he said.

Source: The Star