THE Emkay group expects the gross development value of the projects it is undertaking in Perak to reach RM167mil in the next five years.
These projects are being carried out by its subsidiary companies – Edaran Intan Sdn Bhd and Dwi Milik Sdn Bhd.
Edaran Intan executive director Vernon Azhar Edmett said the company would be handing over the keys to buyers of Taman Desa Permata, a low-cost housing project in Grik, on Monday.
Located on 9.2ha comprising 315 Rumah Selesa residential units and 10 Neighbourhood shops, the company's RM14.3mil maiden project has been sold out.
The residential units with built-up of 669 sq ft each, are priced from RM35,000 while the shops are priced between RM65,000 and RM83,000.
“We are three months ahead of our expected completion date.
“The project was carried out on a fast track basis in line with Mentri Besar Datuk Seri Mohd Tajol Rosli Ghazali's call to fill the need for affordable housing in Grik,” Vernon told a press conference on Thursday.
He said the second phase of Taman Desa Permata, would be launched in mid-2004.
“Based on the demand for housing in Grik, we will develop another 16ha and up to 400 low, low medium and medium cost residential houses and shops. Prices will range between RM65,000 and RM100,000.
“We are also thinking of including some semi-detached units,” he said, adding that the company anticipated sales of RM38mil from the project.
Edaran Intan was also awaiting approval to carry out a 40ha mixed development project in Changkat Kinding near Chemor, worth RM90mil, by year-end.
“The project will comprise 1,100 units and should take five to seven years to complete,” said Vernon.
“Our associate company, Dwi Milik, will be launching a 16ha mixed development project in Kampung Gajah next month,” he said.