Hap Seng’s debut housing development in Peninsular Malaysia — D’Alpinia in Puchong — is a 90-acre project with a gross development value of RM420 million.
“We want this to be a development that caters for a range of residents. That’s why we have a mix of town houses, semidees, terraced houses, bungalows, condominiums and apartments,” Hap Seng Land Sdn Bhd’s property division chief executive Datuk Paul Ng tells City & Country.
Of the 90 leasehold acres, 12 acres fronting the main road will be utilised for commercial development.
The commercial component may feature shopoffices, a shopping complex, F&B area and a budget hotel, adds Ng.
Phase 1A and part of 1B, comprising a total of 274 terraced houses, semidees and townhouses, were launched last November. All the non-bumiputera units were sold within two days. “We had people queuing up on the launch day at 4am,” says a smiling Ng.
“The response for the bumiputera lots was satisfactory, with about 30% take-up rate for the two phases,” adds Ng.
The terraced houses and semidees are 2,300 sq ft, while the townhouses range from 1,600 to 2,300 sq ft. Based on the current approved development plan, D’Alpinia will have a total of 1,164 residential units.
One of the attractions of this project is the 10/90 variant of the build-then-sell (BTS) concept. A buyer will need to sign a sales and purchase agreement (SPA), but only pay a 10% deposit upon signing the SPA. The balance is payable when the certificate of fitness for occupation (CFO) is issued and notice of vacant possession is given.
The project is expected to be completed in two to three years.
This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 802, April 19-25, 2010