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Magna Prima to launch Alam d'16

KUALA LUMPUR: Magna Prima Bhd says it is expecting to launch a series of property projects between now and the end of 2011, including the upcoming Alam d'16, a low-density community on one of the last landed residential property parcels in Shah Alam.

The launch of Alam d'16 will give the company a bigger share of the residential property market in Selangor, the company said in a statement on Thursday, Oct 7.

Alam d'16 will encompass ten acres of landscaped land and will be one of the few gated and guarded communities in the vicinity.

With a gross development value (GDV) of RM80 million, it would feature 177 units of 2-storey link houses.

"The development is located at the heart of a growing commercial district, and therefore also offers excellent rental potential fuelled by growing presence of mid-management level tenants," said Magna Prima's Chief Executive Officer, Yoong Nim Chee.

"We are currently at the drawing board finalising plans for our other upcoming residential developments in Bukit Jalil and Selayang and working closely with the architects to bring our ideas to life," Yoong said.

"On the commercial property front, we will be opening our office suites along Jalan Kuching for early registration soon," he added.-- Bernama
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