UM Land to increase product offering

KUALA LUMPUR: United Malayan Land Bhd (UM Land) plans to increase the number of product launches in all of its three mixed development townships this year.

In addition to that, the company would also introduce new products to cater to the purchasers' needs and the changing market environment, as well as improve its efficiency in land usage.

Its group chief executive officer Pee Tong Lim said on Wednesday, June 23 that the group remained focus on its two-pronged growth strategy through its Township division and niche development division, and expected to roll out two new niche projects this year in Kuala Lumpur and Iskandar, Johor.

“New launches from both divisions have a combined GDV (gross development value) exceeding RM0.5 billion. The new launches are expected to contribute positively to the earnings of the group,” he said.

In this year’s second half, UM Land intends to launch a 310-unit serviced residences project nestled within the enclave of Bukit Ceylon at the fringe of Kuala Lumpur.

This marks the group’s second high-end condominium project within the area, following its development of Somerset Seri Bukit Ceylon Serviced Residences.

The company also aims to launch a prestigious boutique apartment at Puteri Harbour, Nusajaya, which is a a 50:50 joint venture with UEM Land Berhad, the master developer of Nusajaya. Puteri Harbour is an integrated waterfront and marina development in Johor.

Meanwhile, UM Land ‘s Suasana Bangsar condominium is nearing completion and the vacant possession is expected to be handed over to purchasers towards the end of this year. He said that the condominium has registered “encouraging sales of up to 90%”.

Suasana Bangsar is an exclusive and luxurious condominium project in Bangsar comprising 190 units of condominiums that offer a choice of two, three and four-bedroom suites with sizes ranging from 1,112 sq ft to 4,800 sq ft. The development has an estimated GDV of RM198 million.

“We are optimistic that the economic climate will continue to improve in the 2nd half of 2010 and this is expected to have a positive impact on the property sector as the pent-up demand for quality properties will drive the property market,” he added.