SDP targets 15 property launches by end-June

KUALA LUMPUR: Sime Darby Property Bhd (SDP), the property division of Sime Darby Bhd, is targeting 15 property launches before the group's financial year ends on June 30.

The launches include Indigo, comprising 26 units of zero-lot bungalows in USJ Heights in Subang this month priced from RM1.8 million, SDP head of market development Henri Young told reporters on Thursday, Jan 13.

"It is the second last launch in USJ Heights," he said.

SDP also plans to launch three projects comprising link houses and semi-detached homes at its Denai Alam township and three phases of link houses at Bandar Bukit Raja township, both in Shah Alam, after the Chinese New Year, said Young at the Asia Pacific Real Estate Association (APREA) Institute's Certificate of Real Estate Investment Finance (CREIF) open day.

According to Young, previous projects launched in USJ Heights, Bandar Bukit Raja and Denai Alam last year were sold out within two months.

It also planned to launch The Glades in Putra Heights in May. The 53-acre freehold project comprises bungalows, semi-dees and condos in a gated and guarded community, he said.

In Desa Melawati, Kuala Lumpur, Quarza — comprising 480 retail and residence units — will be launched as well.

"Melawati has been very successful for us," said Young, citing the strong take-up of earlier launched projects there, namely the Gaia commercial project and Casa Rimba superlinked homes where there are only one and five units left respectively.

"Due to its proximity to KLCC and views of the quartz ridge, we see a lot of potential in the Melawati area," he said.

Young was representing SDP managing director Datuk Tunku Putra Badlishah at the event. Also present were APREA CEO Peter Mitchell and Malaysia Property Inc CEO Kumar Tharmalingam.

CREIF, presented by APREA in partnership with MPI and partly sponsored by SDP, is a certificate course that aims to address the needs of management across all property sectors for knowledge in real estate finance and investment.

The subjects, which will be delivered via a mix of long-distance learning and workshops, spans eight months although students have until two years to complete the course.

APREA Institute was set up to provide training in the real estate finance and investment industry, and is the educational arm of APREA, a non-profit industry association that promotes investment in Asia-Pacific's real estate market.

From left: Tharmalingam, Mitchell and Young at the open day. Photo: Lee Lay Kin of The Edge Malaysia
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