Southeast Asia Landmark to bank on location

  • Business
  • Wednesday, 29 Jul 2015

First project: Tan showing a model of Ramada Suites The Straits at Jalan Abd Samad in Johor Baru. The project is the first Iskandar Malaysia project for the Kuala Lumpur-based developer

JOHOR BARU: Kuala Lumpur-based developer Southeast Asia Landmark Sdn Bhd is banking on the location of its newly launched project to attract potential buyers.

Executive director Michael Tan Shyue Jing said the location of the project – Ramada Suites@The Straits – within the quiet and peaceful surroundings of Jalan Abdul Samad, was a strong selling point.

“This is our first project in Iskandar Malaysia.

“We are upbeat that it will do well in view of the development and progress taking place in the economic corridor,” Tan said at a press conference yesterday.

Tan said that the company was targeting investors for the 128 condominium units with a built-up floor area ranging from 868 sq ft to 1,616 sq ft at a selling price of RM663 per sq ft onwards.

He said the 25-storey single-tower building would have only seven units per floor.

Tan said that the project, with a gross development value (GDV) of RM130mil, was expected to be ready in the second quarter of 2018.

He also said four penthouses with a floor area of between 2,206 sq ft and 3,680 sq ft would be opened for sale for owner-occupiers.

He said 50% of the international lots (52 units of the one-bedroom condominium) had already been sold before the launching date.

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