Sime Darby Property looking to build more affordable homes

SIME Darby Property Bhd is in No 2 spot of The Edge Top Property Developers Awards 2010. The non-listed developer with one of the largest landbanks in Malaysia, is looking at developing more affordable housing.

“Sime Darby has a very large landbank and the minister’s comments on affordable housing is a key point that we all need to consider… it is something we are looking into,” said its managing director Datuk Tunku Putra Badlishah Tunku Annuar when met at The Edge Property Excellence Awards night.

Officiating the event earlier, Housing and Local Government Minister Datuk Wira Chor Chee Heung had said the key challenge faced by the housing industry was in matching the supply of affordable housing with demand.  

The Sime Darby group owns about 10% of the Kuala Lumpur conurbation area of 1.2 million acres, of which 80,000 acres stretch from Kuala Selangor to Port Dickson, Negeri Sembilan. This area has been earmarked for an ambitious project called Vision Valley Malaysia.

Of the 80,000 acres, 45,000 acres will be developed over the next 20 years with a gross development value (GDV) of RM25 million.

Already well-known for its successful township projects such as Putra Heights, Subang Jaya, USJ, Ara Damansara and Bukti Jelutong  in Selangor, the developer has in recent years reinforced its reputation as a builder of quality homes by producing higher-end homes with sustainable living designs.
Tunku Putra Badlishah (left) receiving the award from Chor. Sime Darby Property is well-known for its Putra Heights, Subang Jaya, Ara Damansara, Bukit Jelutong  townships
Abroad, it has a waterfront development called Eagle’s Cove in Australia’s Gold Coast while in Singapore, it has two residential projects under its belt — the Orion and Balmoral Hills.

This article appeared on the The Edge Property Excellence Awards 2010 page, The Edge Financial Daily, October 11, 2010.

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