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Saturday December 1, 2012

Fast thriving town continues to woo investors

LOCATED right between Ipoh and Sitiawan on the Ipoh-Lumut Road, Seri Iskandar is fast expanding given its excellent location and number of higher learning institutions.

The combined factors of accessibility and high student population in the area make Seri Iskandar an extremely attractive choice for property buyers looking to capitalise on the potential of the emerging township.

Already home to higher learning institutions such as Universiti Teknologi Petronas (UTP) and Universiti Teknologi Mara (UiTM), it will soon see another mega project — the 32ha Seri Iskandar Business Centre.

Hua Yang Bhd Perak branch manager Tony Ng said many people, mostly the younger generation, had bought homes there and were moving away from their villages. Hua Yang is the company that has been developing Bandar Universiti in Seri Iskandar.

“The development in Seri Iskandar has picked up more aggressively since last year, leading to plenty of job opportunities. So, people are also coming here to work,” he said.

He added that buyers preferred houses in Seri Iskandar due to affordability, compared to properties in more established areas such as Ipoh and Sitiawan.

According to Ng, a single-storey house in Seri Iskandar is priced between RM120,000 and RM180,000 while a double-storey house costs about RM180,000 to RM220,000.

“Apart from affordability, buyers also look at other aspects such as security, convenience and how well the properties suit their needs.

“Some people prefer something cosy; just enough for a small family while bigger families prefer larger houses.

“The crime rate in Seri Iskandar is also under control and people are comfortable with its surroundings,” he said.

Ng also pointed out that the local population was about 30,000, excluding students who were attending the nearby tertiary institutions.

“The student population alone stands at about 20,000, which is quite a substantial figure.

“Investors are coming here to buy shoplots and set up operations such as food and entertainment outlets targeting the needs of the students,” he said.

Kuala Lumpur teacher Nur Kunita Abdul Latif said she bought three houses in Taman Maju to rent out to students, after hearing about the township’s growth.

“Each semi-detached house has four bedrooms and can accommodate eight students.

“The houses cost about RM100,000 each, a price that is unthinkable in Kuala Lumpur and Ipoh.

“I have been renting them out at full occupancy since last year. I hope to further invest in the area as I hear that the Aeon Manjung shopping centre in Sitiawan will open soon and bring even more people to Seri Iskandar,” she said.

Ipoh boutique owner Siti Sadiah Zulkefli has left her single-storey house in Seri Iskandar vacant as she wants to survey the development before deciding on whether to expand her business there or not.

“There is definitely potential in the township as it has attracted a lot of development, but I want to stabilise my finances before making any big decisions.

“Still, I believe my purchase of a house there will not go to waste as the development and strategic location means I can sell it off for a profit even if I do not expand my business to Seri Iskandar,” she said.

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