Bandar Kinrara continues to enrich purchasers

I&P Group Sdn Bhd’s 19-year-old Bandar Kinrara township in Puchong, Selangor is the inaugural The Edge-PEPS Value Creation Excellence Award in the residential development category.

The estimated RM3 billion development sits on 1,904 acres and comprises mainly terraced, semi-detached and bungalow homes. Notable is the fact that of the 70% that is already developed, the commercial centre takes up only about 27 acres.

From the onset, Bandar Kinrara was intended to be an uncluttered, low-density township, meant to ensure a high level of livability, said I&P group managing director Datuk Jamaludin Osman.

While it is true a denser township with a higher ratio for commercial component will generate more income, creating value for living is important, he added. He sees Bandar Kinrara as a place that isolates itself from the stress of daily life, and a preferred township of the future.

Changes have been made over the years to keep up with the times and the ever-changing consumers’ taste.

“We constantly try to improve what is lacking, be it in design, landscaping and the overall development. We also ensure the best possible quality in our products. Because of these factors, Bandar Kinrara continue to have a high rate of capital appreciation,” said Jamaludin during The Edge Property Excellence Awards 2010 last Thursday.
Jamaludin receiving the award from Housing and Local Government Minister Datuk Wira Chor Chee Heung
Jamaludin has proof to back his claims. A 2-storey terraced house sold at RM112,000 in 1991 can now command up to RM523,000, a capital appreciation of 367%.

I & P’s award submission showed 2-storey terraced units in Bandar Kinrara has an average capital appreciation of 51.55% over an average of 1.96 years.
Sales for homes in Bandar Kinrara continue to be brisk, which Jamaludin attributes to satisfied customers’ word of mouth.

“I believe it is the word of mouth that helps the most. It gives certain confidence to potential buyers, it acts as a testimony to the quality and value of Bandar Kinrara,” said Jamaludin.

The township is expected to be fully completed in seven to eight years and will have an estimated 16,779 residential units by then.

The Edge-PEPS Value Creation Excellence Award 2010 was created to help consumers identify the properties with the greatest value creation in terms of capital appreciation as well as its sustaining value. The awards also seek to recognise the developers that make value creation a key point of their developments.

This article appeared on the The Edge Property Excellence Awards 2010 page, The Edge Financial Daily, October 11, 2010.

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