TH Properties is the developer of Bandar Enstek while Ascenteus Holdings is the holding company of the Ascenteus Group which is involved in research & development, property development and other products.
Ascenteus’s managing director, Faizan Khan said the project with an estimated gross development value of RM1.2 billion comprises three phases.
“Construction will kick off in the third quarter of this year and completion by 2014. The first phase comprises the GHM Country Club and 40 units of exclusive villas and luxury residences while Phase 2 and Phase 3 will comprise another 40 units respectively,” he told reporters after a marketing and branding signing ceremony between the co-developers - Ascenteus and Davanam Constructions and GHM on Feb 11.
GHM Hotels is a global market leader in luxury hotel development and management.
“Bandar Enstek is in a strategic location with the F1 circuit and the KLIA in the same vicinity. We are also taking advantage of the excellent infrastructure,” he said.
The project is targeted at high net worth individuals from international circles.“The low-density villas on a 1- acre parcel with built-ups of about 12,000 sq ft-15,000 sq ft may be priced about US$3 to US$4 million,” he said.
The Country Club will take up 20-25 acres with the rest dedicated to the villas and residences.The residences are designed as ultra low density and high luxury units with direct access to sought-after amenities provided by the Country Club.
Meanwhile, TH Properties Sdn Bhd’s chief executive Zaharuddin Saidon said the company plans to launch several new residential projects this year with a total GDV of RM150 million.
Moving forward, he said Bandar Enstek will be developed into an energy efficient township. To date, 30% of the 5,116 acre- township has been completed.
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