Crescendo taps young buyers

  • Business
  • Monday, 27 Mar 2006

Crescendo Corp Bhd is targeting young working people aged between 22 and 28 as potential house buyers. 

Its managing director Gooi Seong Lim said this group with steady incomes but no savings had been “neglected and sidelined” by some developers. They are mainly single, graduates and young couples who have worked for less than five years and earning between RM3,000 and RM5,000 a month. 

“The company has come out with a marketing plan to help them own houses easier than they thought,” Gooi told StarBiz recently. 

Gooi said most of them were qualified to own houses but were unwilling to commit themselves due to various reasons, like giving priority to buying a car instead of a house, as the former was deemed a necessity.  

He said they could not be blamed for doing so in view of the inefficient public transport. “Only after buying a car, will they start saving for a house and this can take three to five years,” he said. 

This group, he said, also had just enough money to pay for the down payment of the house but did not have much money left for moving in.  

“We are helping buyers to own houses much easier without them having to spend so much money initially,” he said, adding that the company had a Move-in Package for its recently launched double-storey terrace houses at its Desa Cemerlang township in Ulu Tiram, about 30km from the Johor Baru city centre. 

Under the package, buyers can buy either one of the two types of fully furnished or unfurnished houses called Florida and Armanee. 

The Florida is priced from RM209,800 for the unfurnished unit and RM245,800 for the furnished unit. The unfurnished Armanee is priced from RM216,800 while the furnished unit is tagged at RM252,800. 

Those who opt for the furnished unit and entitled for the loan will get 105% financing or up to 30 years to settle their loans. Eligible buyers need only pay RM2,980 down payment and can move into a fully furnished house. 

“The company believes that Crescendo is the first developer in Johor to offer such a package,” he said, adding that there was also a choice of two styles of modern and contemporary furnishing and four colour schemes. 

He said buyers would have to spend between 20% and 30% more if they were to buy similar furnishings, but the company got them cheaper as it bought in bulk. 

He said the 300 units of “renovation-free” Armanee and Florida houses would be completed soon under a “build and sell concept”. Only companies with strong financial standing, good management support and timely delivery system could go for this concept. 

Gooi said buyers felt more confident when they saw the houses taking shape before making their purchase.  

“The project has received good response and we are expecting to achieve RM75mil sales from the 300 houses,” he said. 

Gooi said the company was also targeting Malaysians working in Singapore because of their strong purchasing power. 

He said with the two integrated resort development projects to be launched soon, more Malaysians would be employed in the republic. 

“Singapore’s economy is picking up and as the closest neighbour, Johor is likely to receive the spillover,” he added. 

Gooi said distance was no longer an issue when it came to buying a house, unlike in the 70s and 80s.  

Housing estates do not need to be near the urban area to attract buyers, as they are usually self-contained.  

Gooi said the upgrading of the Pandan-Tebrau-Pasir Gudang cross-junction into an elevated junction and the Eastern Dispersal Link (EDL) would make travelling smoother. 

He said the daily traffic crawl along the Tebrau Highway would be a thing of the past when the EDL bypassed the highway and connected to the Pandan-Tebrau junction. 

The company will be launching two new projects this year – a 607.02ha integrated township and a 161.87ha industrial estate.  

 CRESNDO :  [Stock Watch]  [NewsCRESNDO-L :  [Stock Watch]

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