KUALA LUMPUR (May 30): WCT Bhd, the developer of the Bandar Bukit Tinggi township in Klang, says it has not seen any softening in the property price reduction in its projects although there is a slowdown in take-up rates.
"We are fully aware about the concern regarding the softening of the property market, but our property project, Bandar Bukit Tinggi, has a captive market.
"Most of the purchasers in the area right now are looking for upgrades, which is why we are looking towards gated and guarded communities, launching more of the semi-detached houses and bungalows," corporate affairs manager Kenny Wong Yik Kae told a press conference at the Invest Malaysia 2012 event on Wednesday.
Wong said Klang is a different market because people who acquire properties there intend to stay on in the township.
"Those affected in the softening of the market are properties that were speculated over the past couple of years," he added.
He said by 2016, the contribution from construction and engineering is expected to reach 45%, with property development to contribute 30% and investment and management 25%. — Bernama