PROPERTY developer Mitraland group has seen brisk sales for its bungalow project in Sungai Long, Selangor, with more than 50% of the houses sold after two weeks of sales launch.
Managing director Chuah Theong Yee said he was confident that the company would sell the remaining 11 units after Chinese New Year. It has to date sold 15 units, each priced at close to RM1mil.
Mitraland’s maiden bungalow project Sejati Hill Villa 2 has a gross sales value of RM26mil and is due for completion in January 2006.
“We are seeing some recovery in the property market as buyers are taking advantage of the lower interest rates.
“They anticipate that the interest rates would not be this low in the future,’’ he said after the soft launch of Sejati Hill Villa phase 2 in Kuala Lumpur.
Sejati Hill Villa phase 2 features two new designs (type A & B) for its 2½-storey bungalow. The developer provides two types of façade for individual selection.
Land area for each bungalow ranges from 6,300-sq-ft to 9,300-sq-ft while built-up area of type A measures 5,000-sq-ft and Type B 4,530-sq-ft. Each unit carries a price tag of RM944,130 onwards.
Due to good response from buyers, the group plans to continue developing more challenging and lifestyle projects in the future.
Chuah said the group was seeking joint venture partners for its future projects.
In Sungai Long, Mitraland started with Sejati Hill Villa phase 1 comprising 34 upmarket semi-detached houses in 1999.
Both phases of Sejati Hill Villa are located on a 12.8 acres hill site which is also one of the highest points in Sungai Long. Both phases are gated and have 24-hour security.
Sejati Hill Villa phase 2 is Mitraland’s fourth project after its Desa Permai, Taman Makmur I & II and Taman Sri Minang in Cheras.
He said Sejati Hill Villa’s exclusivity was centred on the designs and location of the property.
“It is located on one of the highest ground in Sungai Long so much so that from the site one can see the whole of Sungai Long area,’’ he said.
Apart from the availability of standard recreational facilities such as children playground and park, jogging and cycling tracks, fitness centre, badminton court, BBQ area and gazebo, the backdrop of the site exclusively features a 30-ft high man-made captivating waterfall and fishpond.
Rapid property development in Sungai Long lately has given some boost of facilities and amenities to the neighbourhood.
Surrounding landmarks include Bandar Baru Sungai Long business centre, Asia-Euro College, a medical centre (under construction), Sungai Long Golf & Coutry Resort and schools.