Tuesday, March 23, 2010

Samling unit in RM6b Viet project

By Sharen Kaur
Published in NST on March 23 2010

Perdana ParkCity Sdn Bhd, a subsidiary of the timber-based Samling group, will launch its maiden RM6 billion township project in Hanoi, Vietnam by July this year.


Called ParkCity Hanoi, the project features townvillas, townhouses, semi-detached homes and bungalows, as well as condominiums and apartments, which will be built in 15 phases. It will comprise a commercial belt, a community clubhouse, a central park and international schools.

The project will be a replica of Perdana ParkCity's on-going multi-billion ringgit Desa ParkCity township development in Bukit Menjalara, Kuala Lumpur, its group chief executive officer Lee Liam Chye told Business Times in an interview.



"We didn't launch earlier because of the global financial crisis. While the property market in Vietnam (now) remains soft, we expect it to bounce back in the third quarter of this year. We are seeing pockets of recovery," Lee said.

ParkCity Hanoi will be developed by The Vietnam International Township Development JSC (VIDC), in which Perdana ParkCity has a 59 per cent stake.

Vietnam's Vinaconex-Hoang Thanh Urban Development and Investment JSC holds another 40 per cent in the joint venture, while the remaining 1 per cent is owned by a local Vietnamese businessman.

Lee said Perdana ParkCity's contribution in the joint venture is to develop the properties, transfer its expertise and provide some funding.

VIDC has signed a credit agreement with Vietinbank to provide US$45.7 million (RM150.81 million) for the project's two initial development phases.

ParkCity Hanoi will cover 77.4ha at the junction of Le Van Luong and Le Trong Tan roads in Ha Dong district, about 13km from the city centre.

"Our partners will assist us in marketing the products and dealing with the authorities. They are targeting the locals and expatriates in Vietnam. We are confident the project will generate good sales," he said.

Lee added that ParkCity Hanoi will be a good platform for Perdana ParkCity to establish its brand internationally.

Vietnam is Perdana ParkCity's first overseas venture.

-ENDS-

Monday, March 22, 2010

7 on shortlist to build hospital in Desa ParkCity

By Sharen Kaur
Published in NST on March 22 2010

PERDANA ParkCity Sdn Bhd, a subsidiary of the timber-based Samling group, has shortlisted seven companies, including one from Japan, to build a RM250 million hospital in Desa ParkCity in Bukit Menjalara, Kuala Lumpur.


They are Sunway Construction Sdn Bhd, Crest Builder Holdings Bhd, Putra Perdana Construction Sdn Bhd, UEM Construction Sdn Bhd, Bina Puri Construction Sdn Bhd, Ahmad Zaki Construction Sdn Bhd and Japanese construction giant Obayashi Corp.

Sources familiar with the plan told Business Times that tenders for the 10-storey, 300-bed hospital, to be known as Sime Darby Medical Desa ParkCity, will close this Friday.

"Perdana ParkCity will award the contract in April or May based on merits, technical expertise and track record. Construction will start by May or June, and be completed in 2012," one source said.

Perdana ParkCity group chief executive officer Lee Liam Chye declined to comment when contacted.

It is understood that the proposed hospital will be built on a design, build and lease concept. It is expected to begin operations by early 2013, a year later than initially planned.

It will cater for the Desa ParkCity township and nearby areas such as Kota Damansara, Damansara Perdana, Bandar Sri Damansara, Mutiara Damansara, Bandar Utama, Taman Tun Dr Ismail, Sri Hartamas, Mont'Kiara and Bukit Damansara.

The source said the new hospital, which will have 60 specialist clinics and six operating theatres, will be leased to the country's largest conglomerate, Sime Darby Bhd, for 20 years.

It will be the third full-fledged hospital operated by the Sime Darby group, which is looking to grow its healthcare business to ride on the recession-proof medical industry.

The group currently owns and operates the 393-bed Sime Darby Medical Centre (previously known as the Subang Jaya Medical Centre) in Subang Jaya and the Sime Darby Specialist Centre Megah in Petaling Jaya.

It also owns and operates the Sime Darby Nursing Health and Sciences College managed by Sime Darby Healthcare.

Perdana ParkCity is the master developer of the 192ha Desa ParkCity township, which will have some 7,300 residents when completed by 2015.

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Friday, March 19, 2010

Ahmad Zaki eyeing RM300m Saudi deals

By Sharen Kaur
Published in NST on March 19 2010

Ahmad Zaki Resources Bhd (AZRB) (7078) , a construction group, is eyeing contracts worth some RM300 million in the Middle East as it seeks to grow.


Managing director Datuk Wan Zakariah Wan Muda said the contracts are for building and infrastructure projects in Saudi Arabia.

"These are small developments. We are studying the market and expect to make a bid within the next one to two months," Wan Zakariah told Business Times in an interview in Kuala Lumpur recently.

For the year to December 31 2009, AZRB posted a net profit of RM20.7 million on revenue of RM458.1 million.

Wan Zakariah said there are bigger projects worth several billion ringgit coming up in Saudi Arabia to build among others, highways, universities, hospitals and airports.



The Saudi government has also budgeted a huge sum to upgrade the road and rail network and is calling for tenders, he added.

"We will bid for some of these projects. We are ready to embark on new jobs as some of our existing projects in Saudi Arabia are nearing completion and we would like our plate full," Wan Zakariah said.

AZRB has four existing projects in Saudi Arabia worth almost RM900 million.

It has two jobs valued at RM330 million from main contractor Saudi Oger Ltd, to construct faculties and apartment blocks for the King Abdullah University of Science & Technology in Jeddah.

The third contract worth some RM350 million is to construct and develop in two phases the Al-Faisal University Campus in Riyadh.

AZRB has built the faculties while it expects to finish constructing the apartment blocks in two years, and the Al-Faisal University by year-end.

In May last year, AZRB won a RM185.5 million contract from Saudi Oger to build reinforced concrete structures for Tower H1-A of the Jabal Omar Development in Mecca.

"We aim to be a long-term player in the Middle East. Working in a foreign country is not always easy. You must know the environment and have the right contacts and talent to build yourself a good track record," Wan Zakariah said.

AZRB made inroads into the Middle East in 2005 and landed its first job in Saudi Arabia in the same year.

Wan Zakariah said AZRB is also looking for projects in the United Arab Emirates and Oman.

The company will use the Malaysia Services Exhibition 2010 (MSE 2010), scheduled next month in Dubai, as a platform to seek more opportunities.

AZRB is one of 150 exhibitors at MSE 2010, to be held from April 13-15 at the Dubai International Convention and Exhibition Centre.

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Event made easy with Classic Floral Services

By Sharen Kaur

The love for art and flowers led a teenager to relish her dream of running an event management company-cum-decorator.



Now, almost two decades later, Mrs Sachdev is proud owner of Classic Floral Services, a premier wedding, event planner and flower specialists, founded in 1998.

The custom of enhancing an event, especially wedding and engagement parties dates from ancient times. Nowadays, a celebration can be made merrier with the establishment of event organisers and wedding planners such as Classic Floral Services.


Classic Floral Services creates beautiful flower arrangements with inspiring designs for all occasions including indoor and outdoor corporate events, annual dinners, wedding and engagement parties, as well as birthday celebrations.



Mrs Sachdev and her team offer infinite creative choices for any design or theme for any event. They always look to impress their clients with personal care and attention as well as creativity that one expects when working with a professional company.

Through the request of the company's very influential list of clientele, the concept for live fresh arrangements is used.



"It is important when planning a corporate event of a wedding reception that you carry a theme throughout the entire day, and one of the better ways to get this going is through flower arrangement," says Mrs Sachdev.

"There is nothing lovelier than a reception venue decorated in the same theme and colour as your bridal bouquets and costumes," she adds.


Flowers as we know have many uses. They can be arranged exquisitely as hand-held wedding bouquets, backdrops, poises and corsages, or neatly over arches and stands, main table for guests and VIPs, and cars. Flowers can be scattered on dinner tables and on walkways to enhance the ambience.

Mrs Sachdev use roses, daisies, carnations and gerberas that come in pink, yellow, white, orange and red to decorate a hall. White flowers, especially roses, are coloured according to the theme of the event to blue or black, which is unusual and outstanding.

She also uses jasmine flowers for some occasions, which breaths the air with a tantalizing fragrant aroma.

Besides transforming the venue into a haven, Classic Floral Services offers laser and fairy lightings, brightening up the place in a hue of colours.



The family-run business, which is managed by her husband, Mr Sachdev, lives by its motto, "To deliver the best in quality and service".

"I have been planning and organising weddings since my early 20s. It is something I have enjoyed doing as it keeps me at a healthy pace. You must have a passion in doing what you do," says Mrs Sachdev, the proud mother of three charming kids.



Being a professional decorator means going (more often than not) beyond the call of duty and being prepared to handle last-minute requests.

Mrs Sachdev says that decorations are planned in accordance with one's budget and she does her best for her clients.



"Its all about being artistic and having the right equipments and expertise to make everything smooth and pleasant for our clients," she says.

Classic Floral Services works closely with several hoteliers in the Klang Valley, golf resorts and community hall operators in booking the venue for an event on the date requested by a client.

Mrs Sachdev has had many wonderful experiences over the past decade, designing and enhancing the most lavish wedding parties and company gala dinners.



To spice up the event, Classic Floral Services uses smoke machines, bubble machines or snow machines, an array of fresh flowers from the hills, amazing lighting system, making the hall bright and colourful, or soft and romantic, on some occasions.

"When customers require something that’s not in our portfolio, we do our best to accommodate where possible. It is all about being humbly creative to make the event memorable," Mrs Sachdev adds.

Classic Floral Services has had some of the most uncommon corporate events to take care off. In 2008, the company had used 8kgs of fresh red chillies to decorate a college hall, being the theme for the night.

On another occasion, a hall was decorated with more than a thousand coloured bangles from India.

One other event had all the tables decorated with leaves and green apples to the amusement of many. When the event was over, some of the guests literally 'plucked' the apples from the tables.

As for weddings, the company was the pioneer in Malaysia to make wagons using coloured papers from India, as requested by a client.



"There is so much that needs to be done when planning an event that is special to somebody. We single out every detail in every project that we have to make it perfect," Mrs Sachdev says.

While there are many reputable event management companies in Malaysia, many of them outsource the services and request made by a client and it is players like Classic Floral Services that provide the necessary "ingredients" for the event to run with success.

Seeing is believing but decorating a hall or tying the knot will no longer be a hectic affair thanks to companies like Classic Floral Services. The company goes every step to ensure that all events that it undertakes run smoothly, leaving a lasting impression, not just for the host but the guests, too!

If you have a forth-coming event, be it a corporate function, wedding, engagement or annual dinner and parties, call Mrs Sachdev at 016 6980008 / 016 3332385. You could also email her at classic.floral@hotmail.com.

-ENDS-

Saturday, March 13, 2010

Sime Darby Prop expects to maintain profit margin

By Sharen Kaur
Published in NST on March 12 2010

SIME Darby Property Bhd expects to maintain its 28 per cent profit margin for its developments this year.


Its managing director Datuk Tunku Putra Badlishah said he is confident of achieving that level as the company is among the best in the industry, and would help push it forward.

He said by maintaining profit margin at 28 per cent, coupled with more launches this year, the company's property division could contribute more to Sime Darby Bhd's overall net profit.

The division, which has 10 on-going projects worth over RM15 billion, contributed 12 per cent to the group's net profit last year.

Sime Darby Property is also involved in property investment, but contribution from this is still minimal.

"We were number one last year in terms of profitability among the industry players and hope to maintain that," said Tunku Putra Badlishah.

He said the company will do better this year and the 80 per cent sales achieved from new launches in the last quarter was testimony.

Sime Darby Property will launch new products monthly for the next six months as its confident of the market, Tunku Putra Badlishah said.

Yesterday, it unveiled its first landed strata development in Ara Damansara, Selangor, called "Seri Pilmoor", worth RM469 million.

Additionally, it will launch new houses in Denai Alam and USJ Heights.

On Seri Pilmoor, the company hopes to sell all the units in less than 24 months.

The project is slated for completion by March 2013. It features 74 bungalows from 6,500 sq ft and 34 semi  detached homes from 4,600 sq ft.

The first phase of the project, to be launched this month, will include 34 semi-dees and 34 bungalows, priced from RM2.8 million and RM4.4 million respectively.

-ENDS-

Thursday, March 11, 2010

Idea House expected to use GE tech, says Sime

By Sharen Kaur
Published in NST on March 11 2010

Sime Darby Property Bhd, the property alucyrm of Sime Darby Bhd, is expected to sign a partnership agreement with General Electric Co within the next two to three weeks to deploy its sustainable products and technology for the Idea House project in Shah Alam, Selangor.


The property developer is setting up the multi-million ringgit two-storey Idea House at its Denai Alam township.

The Idea House, believed to be the first of its kind in the country, is a prototype dwelling where Sime Darby Property will systematically adopt the strategies used in the construction of the house for its future projects, demonstrating its commitment to create sustainable futures.

Conceived as a test bed for new ideas, the house showcases the latest in sustainable architecture in the buildings' quest to become the first carbon neutral residence in Southeast Asia.

It is understood that Sime Darby Property will also sign a similar agreement with Cisco Systems, Inc.

Sime Darby Property managing director Datuk Tunku Putra Badlishah told Business Times that the company is in talks with several parties, but did not name them.

He said the Idea House will be ready and launched in May 2010.



He added that one of the most significant achievements for Sime Darby Property in the past three years was the development of the house.

The house will showcase the latest in construction solution and system applications, which will be an example of how green architecture, good design and sustainable living can work harmoniously.

It will be a self-sustaining building that generates power from the sun and reuse harvested rain water, built entirely on the principle of modular construction where the user would be able to expand and contract the building as the need arises.

-ENDS-

Golden Horses to launch Palace Residence this year

By Sharen Kaur
Published in NST on March 9 2010

GOLDEN Horses Development Bhd (GHD), a private firm owned by Tan Sri Lee Kim Yew, aims to launch its RM600 million Palace Residence Suite this year and market its property to Asian investors.


Palace Residence is located at the Mines Resort City in Seri Kembangan, Selangor. It is being launched a year behind schedule due to the recession in 2009.

There are more foreigners now, setting their eyes on new properties here, said Golden Horse Palace Bhd (GHPB) executive director Dianna Lee.



"We have received a few enquiries on the property. There are people keen to buy. We are targeting foreign buyers and have appointed an international real estate agent," Lee said in an interview with Business Times recently.

GHD and GHPB are sister companies, which means that they are both owned by the same major shareholder.

GHD is targeting a June launch for the suites in Singapore, followed by Hong Kong, China and Malaysia towards the end of the year.

Palace Residence will offer 226 one-bedroom suites with a built-up area of 500 sq ft, and 156 two-bedroom suites, ranging from 1,100 sq ft to 1,400 sq ft, as well as four penthouses. The suites are selling for RM900,000 to RM1.4 million each.

The 19-storey Palace Residence, which is a combination of a hotel and condominium, will complement the 480-room Palace of the Golden Horses. Palace Residence will be built next to the five-star hotel and they will be connected by a bridge.

GHD will include free golf membership, worth some RM800,000, in the property sale. Buyer will automatically be a resident gold member at the 18-hole golf course at the Mines, Lee said.

Construction will start in the second half of 2010, and is due for completion within three years.

Lee said buyers can lease their units to GHPB to manage, with guaranteed returns of 7 per cent for the first two years. The indicative selling price for each suite a night is from RM800.

GHPB is the hospitality, leisure and health arm of Country Heights Holding Bhd (CHHB).

It manages three resorts - Palace of the Golden Horses and Mines Wellness Hotel, located within the Mines, and Borneo Highlands Resort, Sarawak.

The Mines, the country's first resort development, is a project by CHHB, in which, the senior Lee holds 48.1 per cent stake.

-ENDS-

YTL Hotels: Dubai project will pave way for more overseas ventures

By Sharen Kaur
Published in NST on March 9 2010

YTL Hotels expects Pangkor Laut Luxury Resort, Residence & Spa Village, a resort development on The World in Dubai, to pave the way for similar developments outside the region.




It currently manages a collection of award-winning resorts and hotels in Southeast Asia.

"It's a fantastic opportunity for YTL Hotels to lend its brand for a world-renowned development. The exposure will be good for us as we look to expand," the resort manager for Pangkor Laut Resort, Jeffrey Mong, told Business Times in an interview.



The World, an idea conceived by Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, is a man-made archipelago of 300 artificial islands constructed in the rough shape of a map, located 4km off the coast of Dubai.

The islands composed mainly of sand dredged from Dubai's coastal waters. Individual islands have been sold by the developer, Nakheel Group, for US$15 million to US$50 million (RM50.1 million to RM167 million).

Investors from Kazakhstan and Russia bought five islands to develop Pangkor Laut Luxury Resort, Residence & Spa Village.

A partnership agreement was signed between the investors and YTL Corp Bhd in 2008. YTL Hotels, the hospitality arm of YTL, was invited to bring its luxury hospitality to Dubai by licensing the brand Pangkor Laut and Spa Village for the project.

It was also appointed the sole operator for the resort, and to set up and manage the five-star spa.

Mong said the partnership will help the company's employees to learn and experience the management of a world-class asset.

Construction on the project, modelled after Pangkor Laut Resort, is half way and it will be ready by 2012.

This will be the first time YTL Hotels will manage a property without an equity investment.

Pangkor Laut Luxury Resort, Residence & Spa Village will offer a lifestyle package combining luxurious villas, townhouses and apartments, boutique restaurants and retail outlets.

The Pangkor Laut Luxury Resort will offer 120 deluxe guest rooms, 20 fully equipped luxury beachfront villas, shopping gallery, aqua park and an underwater nightclub - a first for Dubai.

The residential component, Pangkor Laut Luxury Residence & Spa Village, will offer 92 fully furnished apartments, 27 attached three-bedroom villas with a private pool, 34 independent luxury villas with private marinas, a community centre and spa.

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Sime's RM30b project to boost group synergy

By Sharen Kaur
Published in NST on March 8 2010

SIME Darby Property Bhd (1473) said the RM30 billion Sime Darby Vision Valley is poised to maximise synergies within the Sime Darby Group and place the company on a new level in the property development sector.


Edge Malaysia's Top Property Developers Awards 2009 ranks Sime Darby Property as the No. 1 property developer in Malaysia.

It became the largest property group in Malaysia, following the merger of the property arms of Golden Hope Plantations Bhd, Kumpulan Guthrie Bhd, SIME UEP Properties Bhd and Negara Properties (M) Bhd in 2007.

"Things are getting better for us after the merger. We are involved in property development, property investment and asset management, as well as hospitality and leisure businesses. As a bigger group we can do more," managing director Datuk Tunku Putra Badlishah told Business Times.

Although its main operations are located in Malaysia, Sime Darby Property has international footprints in property with related businesses in Singapore, Indonesia, Vietnam, China, Australia and the UK.

Last year, Sime Darby Property posted a profit before tax of RM461.9 million, on revenue of RM1.4 billion.

The firm is involved in the development of several townships in the Klang Valley worth more than RM15 billion.

-ENDS-

Sime unit looks to Vision Valley for growth

By Sharen Kaur
Published in NST on March 8 2010

Sime Darby Property (4197) Bhd's chief is looking to the RM30 billion Sime Darby Vision Valley (SDVV) to be its future growth driver.


The 32,000ha development is expected to enhance the value of its landbank and the company is optimistic of an earnings margin of no less than 15 per cent.

It expects to secure approval for the project soon and for work to start in September, managing director Datuk Tunku Putra Badlishah told Business Times in an interview.

The SDVV, scheduled to be completed by 2025, targets housing more than 4.5 million people.

It will encompass anchor projects Selangor Vision City (SVC) - covering the Guthrie Corridor, Subang Jaya, Carey Island, Ampar Tenang and Sepang Estate - and Negeri Sembilan Vision City (NSVC).

The NSVC will include Labu and Tanah Merah Estates and a new model of affordable housing community that will be developed as the first project in the country to cater for the housing needs of workers in the SDVV, Tunku Badlishah said.

Some 14,800ha will emerge as the main driving clusters for the overall master plan with its sports, healthcare and wellness; education; aviation and maintenance, repair and overhaul; leisure, tourism and entertainment; and Green Experimental Cluster components.

Tunku Badlishah said that key to the SDVV, a regional development, will be to attract foreign direct investment (FDI) from the Asia-Pacific, the US, Europe and the Middle East.

“Geographically, we are right smack in Asia-Pacific. So, location-wise, we have the edge. Malaysia Airports Holdings Bhd is committed to building the new low-cost carrier terminal (LCCT) in Sepang. When the new LCCT is completed, Malaysia will become a stronger transportation hub for the region.”

Sime Darby Property is talking to local and foreign conglomerates to invest in the development.

The SDVV will complement the Iskandar Malaysia development in Johor.

Sime Darby Property will work with Iskandar Investment Bhd and the Iskandar Regional Development Authority for the development of both Iskandar Malaysia and the SDVV, Tunku Badlishah said.

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New highway to further drive Selangor growth

By Sharen Kaur
Published in NST on March 1 2010

The RM1 billion Kuala Lumpur-Kuala Selangor Expressway project, set to open in June next year, will benefit several housing and industrial projects in Selangor.


Projects and towns that may benefit from KLS include Kundang Jaya Industrial Park, Bandar Baru Kundang, Ijok, Bandar Tasik Puteri, Rawang and Sg Buloh.

KLS is a 33km two-lane dual carriageway with five interchanges, three toll plazas as well as a rest and service area, connecting Assam Jawa near Kua-la Selangor to Templer's Park near Rawang.

KL-Kuala Selangor Expressway Bhd (KLSEB) chairman Datuk Mohamad Razali Othman said the toll road will be ready by April next year and open to public in June.

It is expected to spur ongoing projects along the stretch and open up new developments, he said.

KLSEB, an equal joint venture between Bina Puri Holdings Bhd, a construction group and privately-held Arena Irama Sdn Bhd, holds a 40-year concession to maintain and operate KLS, previously known as Assam Jawa-Templer Park Highway or LATAR.

The highway will cut travelling time from Kuala Lumpur to Kuala Selangor and vice versa, to just 30 minutes from two hours currently.

"We are confident in this development and hope to recoup our investments for the project within the next 15 to 20 years," he told Business Times.

KLS provides alternatives to Federal Route 54 and to other existing roads along the stretch.

It was supposed to start in 1997 and completed by the year 2000 after Bina Puri signed a 40-year concession agreement with the government.

But the project was put on the back burner as the company could not secure financing due to the Asian financial crisis.

The government also decided to put on hold several mega infrastructure projects.

KLS was revived in 2008 after Bina Puri partnered Arena Irama and awarded the design-and-build contract for package 1 (Assam Jawa to Kundang) and package 2 (Kundang to Taman Rimba Templer), worth a total RM958 million to Mudajaya Corp Bhd.

KLSEB has secured a RM740 million loan from Bank Pembangunan Malaysia Bhd and a RM300 million loan from Islamic Development Bank for the project.

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Bolton gears for RM1b property launches

By Sharen Kaur
Published in NST on March 10 2010

PROPERTY developer Bolton Bhd (1538) will launch four projects worth RM1 billion this year as it is bullish on the market, its chief said.


Executive chairman Datuk Azman Yahya expects its property sales to improve 50 per cent next year to some RM425 million.

For the financial year ending March 31 2010, Bolton expects to achieve RM283 million in property sales.

"During the slowdown two years ago, we were concerned about the ability of banks to lend, so we reduced our launches. But surprisingly, we came out of the global slowdown unscathed and the pick-up (in economy and property) has been good.



"Our sales improved in the last two quarters and we are seeing a pent-up demand," Azman said.

He said that with a low gearing and some RM60 million cash in hand coupled with new sales, Bolton was on a good financial footing to launch new projects.

It has 240ha of landbank in the Klang Valley and Penang, with expected sales of more than RM2 billion to drive the company's growth.

In the financial year ended March 31 2009, the developer posted net profit of RM18.3 million on revenue of RM292 million. Property sales contributed the bulk of earnings, with the rest coming from its investments in properties.

On the redevelopment of the 12-storey "Bolton Court" in Bukit Ceylon, Kuala Lumpur, Azman said the company will start building a 33-storey condominium block on the site six months from now, to be named "sixceylon".

"Although Bolton Court contributes positively to our investment earnings, we feel it's time to redevelop it to create a new landmark in Bukit Ceylon," he said.

The company built Bolton Court, comprising 20 condominium units, in the mid-1970s and retained the apartments for recurring income.

Sixceylon will feature 215 condominium units with built-ups ranging from 696 sq ft to 1,555 sq ft.

At the unveiling yesterday, Azman said the units will be priced from RM750 per sq ft to RM900 per sq ft each, or from RM600,000 to RM1.2 million. In comparison, prices of new residential units in Bukit Ceylon range between RM900 per sq ft and RM1,100 per sq ft.

"Based on feedback, I am confident we will have a market for sixceylon. We are targeting foreigners and young Malaysians," Azman said, adding that investors can expect 7-8 per cent returns.

Sixceylon will be launched to the public in June, following which Bolton will introduce "Wharf", a mixed waterfront development in Puchong, Selangor, and "Arata" at Kenny Hills and "51 Gurney" at Persiaran Gurney in Kuala Lumpur.

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