Pg 147 - Berjaya Corporation Berhad

Launched in January 2006, The Peak is a low density developmentwith just 88 bungalow lots located in the high-end enclave ofTaman TAR. The development encompasses 66.709 acres of landand individual lot sizes ranging from 8,624 sq.ft. to 71,944 sq.ft.,with selling prices starting at RM1.6 million. Outside the KlangValley, more than 70% of the 48 units of bungalows at PuncakBanang have been sold to date.Apart from the new launches, projects previously unveiled werere-introduced to prospective home buyers via weekend sitelaunches, participation in property exhibitions and joint promotionswith bankers/financiers. Consistent take up rates have beenrecorded on the exclusive bungalow land development at SeputehHeights and Cemerlang Heights in particular.Construction work on projects launched during the last financialyear, such as the Green Avenue condominiums at Bukit Jalil andthe Petaling Indah condominiums (Block B) along Jalan SungaiBesi have been completed. The Green Avenue condominiumshave been handed over to purchasers, while Block B of thePetaling Indah condominiums will be handed over in the comingmonths.PROJECTS COMING ON-STREAMAnother project at the Bukit Jalil Golf & Country Resort will belaunched in the forthcoming year. Consisting of 53 units of 3-and3-½ storey shop offices, the development covers 5.82 acres of landthat is strategically located within an area populated by more than600,000 people. This 6-block shop office project is anticipated totranslate into a total sales revenue of RM80 million.At Berjaya Park, Shah Alam, the final phase of landed residentialproperties will be launched in two stages in 2006. Phase 1 ofHazel comprising 110 units was launched in July 2006. Pricedat an average of RM270,000 per unit, the total sales revenueexpected to be earned for the entire sector is approximatelyRM29.7 million.In Taman Cemerlang, Gombak, the Cemerlang View Condoproject, a 12-storey condominium development comprising 144units of medium cost condominiums will be launched in the 1stquarter of 2007. The units range from 932 sq.ft. to 965 sq.ft. will bepriced from RM159,500 to RM164,000 per unit. A total of RM24million in total sales revenue is expected from this development.The Petaling Indah Shop Office project has been planned asa commercial expansion to the Petaling Indah Condominiumdevelopment. To be built on an area encompassing 9,965 sq.ft.of land, the project consists of 8 units of 3-storey shop officeswith built-up areas ranging from 1,131 sq.ft to 1,168 sq.ft. With apopulation of more than 200,000 within close vicinity, these unitswill be sold on an en-block basis and are expected to bring insales revenue of approximately RM5 million.In the heart of Kuantan town, on 3.5 acres land diagonally oppositeBerjaya Megamall, a commercial development comprising 37 unitsof 3-and 4-storey shop offices will be launched during the financialyear ending April 2007. Strategically located along the mainthoroughfare of Jalan Tun Ismail, each of these aesthetically welldesigneden-block shop offices are equipped with an individual liftfor each unit and are expected to enjoy good take-up rates. Eachen-block unit has a built-up area ranging from 3,300 sq.ft. to 9,500sq.ft. At the average price of RM930,000 per unit, this project isforecasted to generate a total sales revenue of RM27.7 million.MARKET OUTLOOKBe spoilt for choice with Cemerlang Heights’magnificent home designs.For the year under review, the property market in the KlangValley commenced with optimism, consolidated by mid-year andeventually ended on a softer note. The market was saturated withconsiderable focus on the higher-end residential sector whichwitnessed the launch of several high-end developments within thevicinity of the Kuala Lumpur city centre.Property developers are bracing for a challenging year in 2006amidst concerns of increases in interest rates, petrol prices aswell as electricity and water tariffs. Rising land and constructioncosts are anticipated to further erode developers’ profit margins.Nevertheless, given the strong economic fundamentals and stableeconomic growth projected at 6%, coupled with the country’sgrowing young population, there will still be a steady demand forresidential properties located in strategic locations.Hazel at Berjaya Park will be the last phase oflanded residential properties to be launched.Berjaya Land Berhad (201765-A) Annual Report 200615