JOHOR BARU: Fresh off launching the second phase of its Kaze Hill mixed-use development in Johor Baru, Linbaq Holding Sdn Bhd is already looking forward to its next venture in Iskandar Puteri.
Linbaq chairman Tan Sri Lau Yin Pin said since the company’s inception in 2017, it had launched two real estate projects, Space Residency in Taman Century here before heading some 18km away to Tiram for the Kaze Hill project.
“Despite the challenges posed by the Covid-19 pandemic, we navigated through obstacles and completely sold out our serviced apartment units at Space Residency, which is estimated for completion at the end of the year,” he said during the launching ceremony for the second phase of Kaze Hill.
Its second project, he added, consists of two phases, with the first launched in December 2021 followed by the second phase yesterday.
Both phases were launched by Johor Baru Mayor Datuk Mohd Noorazam Osman, who stated that Tiram was an up-and-coming growth area even though it is on the fringes of Johor Baru.
“The Johor Baru City Council is looking at infrastructure projects, such as a bypass that allows traffic from Tiram to cut to Pasir Gudang without going through traffic jams, to complement the ongoing development.
“Developers are also encouraged to build self-contained developments where amenities and public facilities are about 20 minutes away by foot like those in South Korea and Japan,” he said, adding that this helps reduce traffic congestion and carbon emissions.
He also commended Linbaq for coming up with a low-density development that incorporates Japanese minimalist elements.
Lau said the response for phase one of Kaze Hill was “overwhelmingly positive” with units taken up before the project was completed in December last year and he is confident that phase two would draw similar interest.
Phase two of the project was designed and built for the middle to high-end market with the aim of providing homeowners with more spacious and comfortable living.
It consists of 60 units of double-storey cluster homes and 24 double-storey semi-detached homes, which are set to be completed by 2026.
“After being around for six years, Linbaq is on track for expansion. We have acquired more land within Iskandar Malaysia for upcoming developments with a combined estimated gross development value (GDV) of RM4.8bil,” Lau noted.
Linbaq’s chief operating officer Chan Kok Liang added that the company had just acquired 24.2ha of land in Iskandar Puteri where the next project is expected to be launched in the third quarter of 2024.
“It will be a mixed-development project with a GDV of RM800mil near Horizon Hills,” he added.
