ASIA PACIFIC Land Sdn Bhd has allocated RM50mil to initially develop 120ha in Batu Ferringhi to build high-end property including bungalows, semi-detached units and villas.
Its managing director Datuk Jeffrey T.L. Ng said the project would be developed in phases, beginning with an exclusive town villa called Horizon 18.
There will only be 18 units in Horizon 18, which boasts an excellent sea view. Each unit has a built up of over 4,000 sq ft with five rooms. Access to the villa is via the Ferringhi Beach Hotel and there is parking space for two cars per unit, he said.
Ng told reporters this after the official opening of community facilities at Desa Marina in Teluk Bahang, Penang, on Saturday.
Ng said the villa units were priced from RM1mil onwards.
He said that the land tenure was freehold while the expected date of completion was 24 months from the signing of the sale and purchase agreement.
According to Ng, the company would develop the 120ha in Batu Ferringhi in stages as well as conduct market research to custome-make the project according to market demand due to the current economy slowdown,
We hope all those who buy our villa units would ultimately reside in them and not leave them vacant so as to enjoy the full facilities that we are offering, he said.
Ng said the rooms at Horizon 18 could be renovated according to the buyers' requirements - from a bedroom to a study or a room for private relaxation to accommodate a full home theatre system.
According to Ng, the company has in the past 15 years successfully completed some 700 units of high-end property on a total of 120ha of land throughout the country.