Hua Yang’s Perak projects enjoy healthy take-ups

PERAK: Hua Yang Bhd saw a healthy take-up rate of 70% at its newly launched Greenview Residence within two weeks of the launch at end-May. Another of Hua Yang’s residential development, Ridgewood, was 40% sold.

“Hua Yang had long started some projects in Bercham and has foreseen its potential for development,” said Hua Yang assistant general manager Tony Ng in a statement recently.

“As there is a growing population in the suburbs of Ipoh, we believe that the demand for affordable accommodation in the surrounding areas is still increasing. The 70% take-up rate of Greenview Residence within two weeks has proven that.”

Ng said Greenview Residence and Ridgewood are on the last few parcels of residential development land in Bercham.

The RM12.4 million Greenview Residence comprises 39 units of 3-storey terraces and three 2-storey terraced houses. The price of the 3-storey terraced house is below RM300,000.

Ridgewood’s first phase, which commands a gross development value (GDV) of RM53 million, consists of 84 units of 3-storey cluster semi-detached and six units of 3-storey link bungalows. The selling price of Ridgewood’s first phase starts from RM550,800.

The second phase of Ridgewood with a GDV of RM41.5 million comprises 44 units of 3-storey cluster semi-detached houses, 14 units of 3-storey link bungalows and eight bungalows. Prices of the second phase have not been finalised.

“With excellent accessibility and situated in convenient locales with affordable selling prices, we expect steady demand for our projects.” Ng said. “We are actively seeking opportunities to replenish our development landbank and foresee great potential in the state of Perak.”

Hua Yang has been making aggressive inroads into the property development sector in the northern region and is looking to expand even further.

The group plans to develop 838 acres (339.05ha) of integrated university township that commands a GDV of RM1.1 billion in 2015.

This development will comprise lakefront residential homes, entertainment facilities and a medical centre. It is in close proximity to Universiti Teknologi Petronas and Universiti Teknologi Mara.

An artist’s impression of Ridgewood’s phase two 3-storey link bungalow.

This article first appeared in The Edge Financial Daily, on June 27, 2014.