Japanese developer to debut project in Malaysia

SELANGOR (April 25): Japanese developer Marimo Land Sdn Bhd will be launching its debut project in Malaysia - O'hako @ Puchong Jaya - in mid-June.

Marimo Land is the subsidiary of Marimo Co Ltd, which was founded in 1970 in Hiroshima, Japan as an architectural firm. The company became a condominium developer in 1990, and has to date completed more than 330 condominiums in Japan and abroad.

O’hako, which is located on Jalan Pipit in Bandar Puchong Jaya, is a lifestyle condominium with a gross development value of RM370 million. It comprises two towers of 359 units each and more than one-third of the 4.25-acre development will be allocated for green and outdoor facilities.

According to Marimo Land managing director John Taro, the development recorded an average booking rate of 70% since it opened for registration at end-2014. Taro is the son of founder Takeo Fukagawa and has been living in Malaysia for more than 12 years.

Taro said the units with built-ups from 800 to 1,000 sq ft will be priced from RM480,000 to RM600,000 or RM500 to RM600 psf.

To find out more about the project and Marimo Land's plans in Malaysia, read the full report in the April 27 issue of City & Country, the property pullout of The Edge Malaysia.