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Matrix Concepts expects Aussie project to be fully taken up by end-Aug

Datuk Lee Tian HockSEREMBAN (June 1): Matrix Concepts Holdings Bhd is confident its M. Carnegie Boutique Apartment project in Melbourne, Victoria, Australia to be fully taken up by end-August, Bernama reported today. The project with a gross development value of RM100 million is the company’s first foreign effort.

Since its launch on May 25, 20 out of 52 units in the apartment project have been sold, said group managing director Datuk Lee Tian Hock (pictured) at a media briefing.

"We are confident that the project will be fully taken up within three months after the launch, as the location is strategic.

"Besides, it's just 15km from Melbourne city, and it is surrounded by the Carnegie Train station, tram stops, bus stops, primary and secondary schools, the Chadstone Shopping Centre and major banks," he said.

Lee said as this is the first project on foreign shores for Matrix Concepts, the land area of the development is restricted to just 1,865 sq m.

"We do not play big because we want to test the market, so that the risk carried by the company will not be huge.

"We chose Melbourne because it is the most liveable city in the world and it has a lot of Asian immigrants," he explained.

Construction work on M. Carnegie Boutique Apartment will start in September and the development is expected to be completed by November 2017.

The apartment units are priced at between A$419,000 (RM1.26 million) and A$859,000.

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