The Star Online, May 24, 2004
BY SABRY TAHIR
YTL Land & Development Bhd, which has seen the success of its early projects in Sentul, will launch three new property projects with sales value of RM574mil in the same area this year.
YTL Corp managing director Tan Sri Francis Yeoh said the group's second development in Sentul East, called The Saffron, would be launched in September.
The Mulberry, an upmarket condominium at Sentul West, and a commercial parcel at Sentul East, would also be launched by the year's end.
“The pace doesn't stop. We will keep the momentum going with new product launches each year,'' Yeoh said at a media briefing in Kuala Lumpur on Saturday.
He expected good take-up rates for these properties, should the current market sentiment and favourable economic outlook prevail until the end of this year and well into 2005.
“I’ve seen buying momentum since last year for properties in the right location, and from the right developers,'' he said.
The new projects are part of YTL Land's revival of Sentul Raya into a mixed development township on a 294-acres freehold land.
Once fully developed, Sentul Raya will boast of an exclusive township worth RM7bil in gross development value.
The maiden development, Tamarind, comprising some 500 highrise condominium units launched in July 2002, has achieved a take-up rate of more than 80%.
The Tamarind and Maple projects, which are among the company's maiden projects, have projected a sales value of RM280mil.
YTL Land, which owns Lot 10 Shopping Complex, Star Hill Shopping Centre and JW Marriott Hotel Kuala Lumpur, is the property investment arm of YTL Corp Bhd.
On the upcoming Saffron project, Yeoh said: “Again, it will be about affordable, high-quality living spaces, a few minutes away from the city, with every amenity at the doorstep."
The Saffron comes with a built-up area of 1,800 to 2,300 sq ft and features, among other things, the 12-foot floor-to-ceiling windows.
Priced at RM400,000 each, sales value for the 400 units of Saffron apartments is estimated at RM200mil.
The next launch would be the Mulberry, which comprise two 32-storey tower blocks comprising 398 condominium units to be developed on a seven-acre site.
Each unit has a built-up area of 2,300 sq ft to 3,000 sq ft and is priced at RM800,000. Total sales value of the Mulberry is estimated at RM350mil.
The third launch will be a three-and-a-half storey commercial building in Sentul East, which could house 16 retail outlets as well as eight duplex residential lots.
The commercial parcel, with estimated sales value of RM24mil, is expected to be launched by year end.
Yeoh added that YTL would improve the infrastructure around Sentul through its involvement in the RM55mil Mahameru Highway project, which was due for completion in 2007.
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