By KINIBIZ
Hua Yang Bhd will launch the next phase of its Bandar Universiti Seri Iskandar township development later this month, with an estimated phase gross development value (GDV) of RM74 million.
The Lavender 2 phase, which is now open for registration, comprises 281 double-storey link houses with built-up area of 1,540 square feet each which will be priced from RM244,800 onwards, said the developer yesterday.
Hua Yang assistant general manager Tony Ng told reporters that the company believes the latest phase, along with the previous two phases launched earlier this year, will be well-received by potential buyers.
“Demand for affordable housing continues to remain strong, despite fluctuations in other property sectors,” said Ng. “Hence we expect a healthy take-up rate.”
Lavender 2 will follow Ceria 2 and D’ecolake phases launched in May and mid-September this year respectively.
Ceria 2, comprising 180 single-storey terrace houses with built-up area of 990 square feet each, was priced from RM175,800 per unit with a phase GDV of RM36 million.
On-site works overlooking Eco Lake
On the other hand, D’ecolake is a gated community area comprising 32 semi-D units with built-up area of 2,478 square feet and 25 bungalow units of 2,886 square feet each in built-area. Notably this phase, which has a phase GDV of RM32 million, fronts a 98-acre natural lake within the township called the Eco Lake.
Both Ceria 2 and D’ecolake had seen 68% and 32% take-up rates respectively at present.
Overall, the three phases this year represent a total of 517 units with total GDV of RM141 million, which follows on Ceria 1 and Lavender 1 phases launched in 2013. Total 2013 launches came to 538 units which were fully sold within 18 months, said Hua Yang.
The educational township, spanning 777 acres with a total GDV of RM1.4 billion, is located at the mid-point between Ipoh and Manjung and is flanked by Universiti Teknologi Petronas (UTP) and Universiti Teknologi Mara (UiTM), which together has a student population of about 20,000.
In addition to existing amenities including various food and beverages (F&B) outlets, the Bandar Universiti township will see a Mydin hypermarket tentatively set to begin operations in early 2016, said a Hua Yang official.
The Mydin hypermarket site, spanning 13 acres near the entrance of the township, will be handed over to the hypermarket chain by year-end.
Perak-based Hua Yang has a total of 556 acres in undeveloped land bank with total GDV of RM3.4 billion, said company officials. Of this number, 408 acres are in Perak including roughly half of the yet-to-be developed land area in the Bandar Universiti township project.
The remaining land bank area are spread across Johor, Klang Valley and Negeri Sembilan, said officials.
For the first quarter ended June 30, 2014, Hua Yang posted RM32.5 million in pre-tax earnings from RM136.4 million in quarterly revenue, nearly double what it recorded in the previous corresponding quarterly which was RM16.6 million in pre-tax earnings from RM80.5 million revenue.
Hua Yang is scheduled to announce its latest quarterly results on Oct 23.
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