Hua Yang to expand to Kota Kinabalu in Sabah

PETALING JAYA: Hua Yang Bhd, with a line up of RM385 million worth of property launches in 2011 for both its new and existing developments, is also looking to expand to Kota Kinabalu within the next one to two years.

Its CEO Ho Wen Yan said Kota Kinabalu is the best entry point for the East Malaysia market. “Kota Kinabalu is a vibrant city with a good population and tourism growth. We will start small and continue to focus on the affordable housing segment,” he told reporters during a media appreciation luncheon on Feb 24. Aside from probable pockets of residential developments, the developer is also looking to develop a township there, below 300-acre in size.

Ho expects the affordable segment to be strong for the next two years: “Demand for properties within the affordable segment, between RM90,000 to RM400,000, is high. I believe the property bubble may be for certain segments and some areas, but property growth in the affordable segment in Klang Valley is strong.”

Aside from launches within existing developments such as Bandar Universiti Seri Iskandar in Perak, Symphony Heights in Selayang and Taman Pulai Indah in Johor, there will also be two new projects in Johor. Taman Pulai Hijauan and Polo Park will be launched by the end of the year. In the Klang Valley, Ho said they would continue to focus on its RM750 million One South mixed development in Sungai Besi.

The developer has a remaining landbank of 850 acres, with an estimated gross development value of RM1.78 billion in locations such as Johor, Perak, Seremban and Klang Valley.