Ken Rimba brand attracting buyers

PETALING JAYA: With its Ken Rimba name growing in recognition, Ken Holdings Bhd's latest launch, Jimbaran Residences, in the Ken Rimba green township in Shah Alam, Selangor, has received very positive response from buyers.

"Our Ken Rimba brand has gone from strength to strength and is now a very recognisable name with homeowners. Homes built inside Ken Rimba have been extremely successful and it is a different approach in developing Malaysia's first green township," said group managing director Sam Tan.

Jimbaran Residences is Malaysia's first recipient of Singapore's Building and Construction Authority Green Mark Gold Plus (provisional) for landed residential terraced house development. It has a gross development value (GDV) of RM150 million and 168 freehold homes.

A preview of Jimbaran Residences in March for Ken Holdings' repeat buyers saw a take-up rate of 80%. The project was launched on June 15.

Tan said Jimbaran Residences is an upgrade of the earlier phase, Legian Residences. "Jimbaran Residences comes with built-in lofts after we noticed the extra rooftop space in Legian Residences."

Prices of the houses start from RM620,000, with land area of 22ft by 65ft (intermediate lots), 44ft by 65ft (corner lots) and 39ft x 65ft (zero lots).

According to Ken Holdings, there are two more condominium and two more commercial phases within the 60-acre (24ha) Ken Rimba in the pipeline.

"We are planning to launch the first phase of our Ken Rimba condominiums by year-end. Already, we have a very big number of registrants eagerly anticipating the launch of these green condos," Tan said.

He said while Ken Holdings intends to build the condominiums to achieve a high Green Mark rating, the developer hopes to maintain the affordable price range.

The estimated GDV for the first phase of the condo is around RM300 million. The project consists of three blocks with built-ups of 1,100 sq ft and three bedrooms.

Among the active and passive green features in Ken Rimba are the north-south orientation for the homes, energy-efficient lighting, breathable roofs with large overhang, high window to wall ratio, transparent skylight, rainwater harvesting tanks, and the use of low volatile organic component paint for interior walls, and reflective paint for exterior walls to reduce external heat. The homes are equipped with solar-powered heaters. The developer also offers composting areas within the community to encourage green practices.

Previous phases within the township include Legian Residences and the Ken Rimba commercial centre. In 2010, Legian Residences was Green Mark Gold and GBI certified. The Legian Residences comprises 328 double-storey terraced homes.

According to Tan, the homes have appreciated by about 30% in the secondary market.
The Ken Rimba commercial centre, which consists of shop lots, is in the midst of being handed over to the owners. It was the first commercial centre to be Green Mark certified (provisional) in 2010.

The freehold site for Ken Rimba was acquired from Hock Hup Development Sdn Bhd in 2003 for RM25 million. Ken Rimba, which has a GDV of RM500 million, was launched in September 2010. When completed, the township will comprise two terraced home components, two condominium developments, a commercial centre and a commercial complex.

This article first appeared in The Edge Financial Daily, on June 14, 2013.

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