Faber Group to launch phases of ongoing developments this year

KUALA LUMPUR: Faber Group Bhd, a subsidiary of UEM Group Bhd, plans to launch some phases of its ongoing developments this year, said managing director Adnan Mohammad (pictured).

With a combined gross development value (GDV) of RM495 million, these phases are Phase 1A (DBKL) and Phase 1A (Fleet) of its residential Taman Desa project in Kuala Lumpur as well as Phases Four and Five of the mixed development Laman Rimbunan at Kepong. They are all developed by subsidiary Faber Development Holdings Sdn Bhd.

Phase 1A (DBKL), which is slated for launch in the first quarter of this year, will consist of 40 semi-detached and six bungalow units over 5.7 acres of leasehold land.

The semi-detached houses, with built-up areas ranging from 3,143 to 4,943 sq ft, will be priced from RM2.1 million to RM3.2 million. The bungalows will be priced from RM3.1 million to RM7.4 million for units with built-up areas of 3,965 to 8,218 sq ft.

Meanwhile, Phase 1A (Fleet), which is targeted for launch in the third quarter of 2010, will comprise 31 units of linked villas and three bungalows over 2.77 acres of leasehold land in Kuala Lumpur.

The linked villas will have built-up areas of 4,550 and 5,500 sq ft, and will be available for RM2.7 million and RM3.3 million. The bungalows, which will have a built-up area of 5,800 sq ft, will be priced at RM4.9 million.

Phases Four and Five of Laman Rimbunan in Kepong, on the other hand, will be launched in the second quarter of this year. Comprising a total of 158 semi-detached units and three bungalows over 22 acres, prices for the semi-detached units start from RM1.3 million for a built-up area of 2,884 sq ft.

The bungalows, with a built-up area of 5,000 sq ft, will go for an average of RM2.9 million.

Adnan said, however, the prices are still indicative at the moment.

According to Faber Development Holdings head Khalid Abu Majid, the company recorded sales of RM97 million in FY2009, with RM30 million in unbilled sales.

Faber Group is also keen to expand its landbank, and is currently in talks to purchase land in the suburbs of Klang Valley.

Its total landbank at the moment is 43 acres, with 33 acres in the Klang Valley and 10 acres in Sabah, said Adnan.

It is also currently managing a low-cost housing project in Liwa and Madinat Zayed at Abu Dhabi, the United Arab Emirates. The total contract value per annum for this project is AE$66 million (RM60.63 million).

Adnan said the group is awaiting the results of a tender for another low-cost residential project in Abu Dhabi.