PPB Hartabina Sdn Bhd expects brisk sales of Segar Courts, a low-density apartment project it is developing in Cheras and launched yesterday, said director Eapen Thomas.
Thomas said the project, comprising 78 units, was nestled in the centre of Taman Segar among colleges, schools and hospitals (both government and private-owned).
“I understand that demand for residential units in places like Cheras and Ampang is still very high. I don't see vacant properties around these places,'' he said.
Segar Courts is PPB Hartabina's final touch to its Taman Segar township project, which includes the Cheras Leisure Mall and hillside residential development Bukit Segar.
Segar Courts is located near the Middle Ring Road II, Kesas Highway, KL-PJ Highway, Connaught Link and Kajang by-pass, providing easy access to the KL City Centre, Kajang, Petaling Jaya and Seremban.
Thomas said the apartments were termed “PGL” - short for private, gated and limited.
Built on a 1-acre site, the 13-storey block houses only six units per floor, of which four are corner lots.
Thomas said the apartments had built-up areas ranging from 969 to 1,173 sq ft.
Each unit has three bedrooms, two bathrooms and is priced from RM191,600 to RM239,500.
Thomas said PPB Hartabina itself would undertake the maintenance and expected the fee to be minimum.
Residents of Segar Courts will have access to the upcoming 15,000-sq ft gymnasium at the Leisure Mall.
Based on the market value of the properties at Taman Segar, he expected Segar Courts to also enjoy 20% to 30% capital appreciation in the next two years.
Segar Courts, which has a total sales value of RM17mil, is due for completion in 2007.
PPB Hartabina started its property development project in Cheras about 10 years ago by developing residential and commercial properties.
Its projects include the Cheras Leisure Mall, Cheras Plaza and the 70-acre Bukit Segar residential project.
Thomas said PPB Hartabina's projects in the pipeline included the development of 199 bungalows at Bukit Segar, the restoration of pre-war shopping lots in Georgetown, Penang, and a township project in Sungai Petani, Kedah.
PPB Hartabina is the property arm of the PPB Group Bhd.