I&P logs strong sales in January

KUALA LUMPUR (Jan 27): I&P Group Sdn Bhd's first property launches for the year have chalked up strong sales.

The developer recently  held three launches for its ongoing township developments in Selangor namely in Bandar Baru Seri Petaling, Bayuemas in Klang and Alam Sari in Bangi.

Zone J7A shop offices in Bandar Baru Seri Petaling achieved a 88.63% take-up since they were launched on Jan 10, said group managing director Datuk Jamaludin Osman.

"Zone J7A was sold on a first-come, first-serve basis," he told The Edge Financial Daily.

The phase offers 44 units of 3-storey and 4-storey shop offices, with built-ups from 6,926 sq ft and land areas of 24ft x 85ft for corner units and 24ft x 80ft for intermediate units.

Prices start from RM3.12 million, translating into a gross development value (GDV) of RM161.5 million. Sales so far were valued at RM115 million. Completion is slated for January 2015.

On Jan 14, I & P launched DZaman 2 in Bayuemas and Iltizam III in Alam Sari that saw take-ups of 70% and 52.27% respectively. The units in both phases were sold on a first-come, first-serve basis.

DZaman 2 or Phase A7B comprises 97 2-storey terraced houses with built-ups from 1,992 to 2,639 sq ft while land areas are at 24ft x 70ft. Prices range from RM433,888 to RM644,888, resulting in a GDV of RM42 million. Of this, RM29.4 million was sold.

Iltizam III or Phase 602 comprises 44 units of 2-storey super linked homes with built-ups from 2,498 to 2,665 sq ft and land areas of 26ft x 80ft.

Prices range from RM662,888 to RM919,888, bringing the total GDV of the phase to RM29.6 million. Of this, RM16.58 million worth of properties were sold. Completion is expected to be in December 2013.

I & P is a wholly-owned subsidiary of Permodalan Nasional Bhd. It was formed in May 2009 following the merger and rationalisation exercise between Island & Peninsular Sdn Bhd, Petaling Garden Sdn Bhd and Pelangi Sdn Bhd.  Among the group's developments include Alam Impian, TemasyaGlenmarie, Bukit Damansara, Bandar Kinrara, Bandar Baru Seri Petaling, Alam Damai and Seri Beringin in Bukit Damansara.