Kinta posts RM54m sales from project

IPOH: Kinta Properties Group recorded RM54mil in sales last year from its billion-ringgit Bandar Baru Sri Klebang project in Ipoh. 

Chief executive officer Dr Tan Chin Yong said it sold 118 shop lots (RM25mil), 79 double-storey terrace houses (RM15mil), and 85 parcels of bungalow land (RM14mil) in 2005. 

“About 25% of our buyers are from outside Perak and overseas. They see their purchases as an investment and homes where they’ll stay in after retirement,” he said. 

Tan said the group had sold over 80% of its luxury bungalows, The Grand Retreats, in the last few months, raking in RM25mil in sales. 

Sited on a former rubber estate land of 263.1ha, Bandar Baru Sri Klebang is touted as one of the fastest growing fully integrated townships in Ipoh's northern development corridor. 

Dr Tan Chin Yong

About 7,000 homes will be developed under this project over eight to 10 years, with an estimated population of over 35,000 residents upon completion. The project started in 2002. 

According to Tan, the group has continued to enjoy brisk sales at Bandar Baru Sri Klebang despite the recent softening of the market.  

“We offer a range of designs and options. Our homes are very affordable and our lots and homes are also bigger compared with that of our competitors,” he said. 

Citing the group's latest offering, Parklane Residences, as an example, Tan said: “People are more discerning and educated about property these days. 

“They look out for innovative designs and quality finishing, and additional features such as security and safety.” 

Parklane Residences, a gated community comprising 50 bungalows and 76 semi-detached houses valued at over RM50mil, was launched last Saturday.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Indonesia November inflation cools further but stays above target
Bursa remains broadly higher at midday
Asia's factory activity shrinks as China lockdown impact widens
Top Builders fails to submit quarterly report, remains suspended
Malaysia's manufacturing PMI falls to 47.9 in November
Ringgit extends gains against US dollar at market open
Quick take: Pesona Metro sees quiet trade despite takeover offer
Panasonic Manufacturing, MPI top gainers in early trade
Trading ideas: Celcom-Digi, MAHB, Capital A, Public Bank, CIMB, AMMB, FGV, BCorp
Perseverance pays off for resilient exporters

Others Also Read