Somerset Puteri Harbour sees robust sales

KUALA LUMPUR: Nusajaya Consolidated Sdn Bhd (NCSB), a 50:50 joint venture between United Malayan Land Bhd (UMLand) and UEM Land Holdings Bhd (UEM Land), achieved strong sales of its Somerset Puteri Harbour in Johor following private launches recently. The preview was organised for two weeks this month in Singapore and Kuala Lumpur.

Marketing efforts had certainly paid off. NCSB held roadshows in Singapore last year and received registrations from interested parties via its website prior to the private launches.

Of the 132 serviced apartments, 120 units were sold, with majority of buyers being Singaporean investors, said Zulkifly Garib, the operations director of UMLand.

The 204 serviced residences — located in the waterfront development of Puteri Harbour in Nusajaya, Johor — have a gross built-up area of 575,000 sq ft and a gross development value (GDV) of RM180million. The price ranges from RM720,000 to RM4.5 million with unit sizes from 762 to 1,496 sq ft. The built-up of the penthouses starts from 3,650 sq ft.

“The successful take-up rate at our Singapore launch shows the confidence that Singaporeans have not only in us and our development, but also in Iskandar Malaysia,” Zulkifly told The Edge Financial Daily.

An artist's impression of the waterfront development.

He added that though most of the units were sold in Singapore, a number of Malaysians had booked early in Kuala Lumpur. “The majority of buyers are professionals and investor buyers,” Zulkifly said, on the demographics of the purchasers.

The serviced apartments ranging from studios to three-bedroom units come fully furnished. Facilities available within the development include a gymnasium, swimming pool, children’s play area and residents’ lounge.

Adjacent to Somerset Puteri Harbour is a retail and commercial component being developed by a government-linked company (GLC) together with a hotel and family entertainment centre currently under construction.

Somerset Puteri Harbour is a stone’s throw away from Legoland and an indoor theme park featuring popular children’s characters such as Hello Kitty, Thomas and Friends, Barney and Bob the Builder. It is within a 20-minute drive from the  Second Link and is 25 minutes away from Johor’s Senai International Airport.

Once completed in 2013, the leaseback apartments will be managed by The Ascott Group of Singapore for the next 10 years.

Puteri Harbour is an integrated waterfront and marina development undertaken by UEM Land spanning 688 acres (275ha) in the 24,000-acre Nusajaya precinct of Johor.

This article appeared on the Property page, The Edge Financial Daily, February 24, 2012.

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