PLB Engineering Bhd is launching 615 units of residential and commercial properties with a total gross development value of RM120mil in Sungai Bakap and Penang island this year.
Its group corporate director Yeoh Seng Hooi told StarBiz the group would kick off the development of 476 units of residential and commercial properties, known as Taman Sungai Bakap Permai, on a 26-acre site in Sungai Bakap next month.
The 87 single-storey terraced units are priced at RM86,800 each, while the 200 double-storey units are tagged at RM128,800 each. The 30 double-storey semi-detached units and the 39 double-storey shop offices are priced at about RM178,800 each.
We have already sold 28 of the shop offices, generating a sales revenue of about RM7mil, since the soft launch last month, he said, adding that the price of the 120 low-cost apartments had yet to be fixed.
Yeoh said Taman Sungai Bakap Permai project, with a gross development value of RM55mil, would be completed within 24 months of its launch next month.
According to Yeoh, the group would launch 59 terrace and semi-detached houses, and bungalows on a six-acre site in Pantai Jerjak, Batu Uban in Penang in April.
He said the project, with a gross development value of RM30mil, was yet to be named.
He said the 28 terrace houses measured 1,800 sq ft each, while the 28 semi-detached and 3 bungalow units had built-up areas of 2,000 sq ft and 2,500 sq ft onwards respectively. The prices for the properties, scheduled for completion in 2005, had yet to be determined.
We are confident that the properties in Pantai Jerjak would sell very well as they are a stones throw from the Bayan Baru township, the coastal highway, and Penang Bridge, he added.
According to Yeoh, the group planned to launch the remaining 80 residential units, with a gross development value of RM35mil, on a nine-acre site in Batu Maung at the later part of this year.
Yeoh said the local government had earmarked Batu Maung in its local government structural plan of 2000 as the next major township to be developed after Bayan Baru.
This is why we have chosen Batu Maung to launch our project, he added.
PLB would tomorrow officially launch the sale of 33 shop houses in Batu Maung. Priced from RM328,000 onwards, the shop houses were completed last month.
We believe these commercial properties in Batu Maung would have commendable returns for investors as the government has approved of plans to construct the second link from Batu Maung to Batu Kawan, he said.
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