HICOM Gamuda Development Sdn Bhd is expanding its land to build more lifestyle residential development in the Klang Valley now that its flagship Kota Kemuning in Shah Alam is nearing completion.
Having established itself in the property scene with its maiden project – Kota Kemuning which is one of the most sought after residential addresses, the company is moving on to new areas with its Hicom-Gamuda brand of townships for discerning buyers.
According to general manager Steven Chu, the company is sourcing for land to venture into more property development projects to leverage on its experience of making Kota Kemuning what it is today.
“With only 250 acres left in the 1,820 acre Kota Kemuning township, we expect to complete the development by 2008.
“We are on the look out for strategic land either through direct acquisition or joint venture with land owners,” he told StarBiz in an interview.
Chu said DRB-HICOM and Gamuda had worked very well in the 50:50 joint venture which was established in 1995, and they looked forward to continue the successful partnership .
“We have built up a strong following of customers who have become repeat buyers. They appreciate the innovative designs of Kota Kemuning homes and the unique lifestyle environment which incorporates vast recreational spaces and amenities.
“With the bright outlook in the property sector, especially residential and a growing group of discerning buyers who appreciate a well-planned neighbourhood, we see good prospects for the company's projects.”
Chu said Hicom Gamuda expected to bring in sales of RM230mil this year and more than RM200mil in annual sales over the next three to four years.
The RM3.2bil township has to date achieved sales of RM2.3bil. Upon completion in 2008, the project would feature 8,000 mixed residential property including hilltop bungalows, semi-detached homes, garden terraces, lakeside condominium units, waterfront villas and apartments.
In the residential precinct, 5,269 units had been completed for a gross development value (GDV) of RM1.25bil. About 1,563 units with an estimated GDV of RM563mil are under construction and 877 units would be launched for a GDV of RM381mil.
Among its latest launches is Kota Kemuning Hills, a gated enclave of 85 bungalows and 146 units of semi-detached houses built within the Kota Permai Golf & Country Club.
Since the project's launch in May, 37 bungalows and 47 semi-detached houses had been sold for RM103mil. The RM250mil project is scheduled for completion in two years.
The first condominium precinct in Kota Kemuning - Lakes Condominium featuring 162 condominiums, had been 85% sold since its launch last year.
Another strata-title development comprising 160 townhouse units of between 1,000 sq ft and 1,200 sq ft are also underway.
Chu said 230 super-link homes fronting the township's central lake would be launched in 2005.
At the commercial precinct, 644 shop lots with a GDV of RM401mil had been completed and another 18 units with a projected GDV of RM250mil would be launched soon.
About 300 acres are dedicated as the township's commercial precinct with neighbourhood shops and eateries.
In the industrial precinct, 390 industrial lots were sold for RM299mil. Another 65 units with a GDV of RM51mil would be launched in the future.
A shopping complex with a gross area of more than 500,000 sq ft and net lettable area of 280,000 sq ft would be built on 14 acres.
The complex is scheduled to open in 2006.
“Kota Kemuning is reputed for its quality infrastructure, good traffic management system, underground utility cables and a complete range of recreational facilities.
“Each precinct has its own distinct character to meet the needs of the residents.”
Chu said the vast tracts of greenery, parks and landscaped gardens were hallmarks of the township, with some 45% of the land dedicated for this purpose.
“Basically, we design the township based on the four principles of design quality, communities and amenities, healthy lifestyle and security.”
He said in line with its tagline of building A Tropical Sanctuary - The Eco-Smart Way, Hicom-Gamuda practices eco-smart engineering to preserve the natural surroundings yet provide wholesome recreational activities for the residents.
A 2.6km Wetland Park, completed at a cost of RM10mil this year, functions as a natural drainage and recreational park with a pedestrian walkway, a jogging track, and a forest-like sanctuary for a variety of flora and fauna.
There is a 22-acre central lake, which is surrounded by a 25 acre park and an 8 km jogging and walking pathway.
Kota Kemuning has won the Planning, Innovation and Concept Award 2000 by the Malaysian Institute of Planners and the Best Maintained Township Award 2003.
Its latest accolade is winning the Landscape Community Park award given by the Selangor state government last month.
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