PKNS expects RM300m from sales of properties in Shah Alam

SHAH ALAM: The Selangor State Development Corporation (PKNS) expects to generate about RM300 million revenue from the sales of its properties in Shah Alam next year.

Its development controller for northern region, Noraida Mohd Yusof, said the sales involved its commercial and residential projects located in Ijok and Alam Nusantara@Setia Alam, Section Seven, and Section Nine.

"We are confident that our properties will attract customers due to their strategic locations, either for investment or living," she told reporters at the launch of PKNS' Puncak Tropika project here today.

The project in Section Nine, with a gross development value of RM34.3 million, comprises 28 units of three-level semi-detached houses priced between RM1.2 million and RM1.5 million.

"The entire project, now in progress, is scheduled to be completed in April 2010," Noraida said.

The Selangor government's property arm is planning to develop high-end properties on its land of around 20 acres worth RM50 million within Shah Alam.

"Currently, we are identifying suitable types of projects based on market demand," she said.

In view of land constraints for future development in the area, PKNS was on the lookout for opportunities to accumulate land bank in Ijok, Batang Berjuntai, Kuala Selangor and Puchong, Noraida said.

To date, PKNS has developed 8,394 acres of land in Shah Alam, comprising 30% residential, 23% infrastructure and 19% industrial. — Bernama