HARAPAN Seni Sdn Bhd based in Gurun, Kedah, involved in development projects for the past 15 years, has undertaken a project which involves the construction of residential units, shopping complex and shoplots costing RM90mil in Kedah.
The RM9mil Jerai Plaza, a shopping complex on 2ha in Gurun, has been completed and was officially opened last Monday.
Harapan Seni managing director Ong Gim Sem said 90 units of shophouses near the Jerai Plaza were also completed recently and had been taken up.
A total of 300 medium-cost residential units will be built in phases on a 20ha site adjacent to the plaza. Seventy units under phase 1 were completed recently and 70 more units will be launched soon under phase 2.
Ong said the upcoming projects were targeted to be completed by 2005.
We are anticipating a good market for residential development in and around Gurun because of the focus on industrial development by the state government in the area, Ong told reporters after the official opening of Jerai Plaza by Kedah Mentri Besar Datuk Seri Syed Razak Syed Zain last week.
He said Jerai Plaza, the only shopping complex in Gurun, served about 50,000 residents there.
It was generating RM60,000 in sales daily since it began operations in October last year, half of it coming from its anchor tenant Anita Supermarket.
Ong said the plaza had 56 shoplots and yearly rental collections from the tenants would total RM2mil, noting that all the shoplots had been taken up.
The construction of shophouses and a supermarket in Kuala Ketil, Kedah, and a shopping complex in Muar, Johor, were among the companys future plans, he said.
Although the property market seems to be showing some signs of a downward trend, we anticipate the situation to improve, he added.
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