KUALA LUMPUR (April 18): Boustead Properties Bhd, a wholly-owned subsidiary of conglomerate Boustead Holdings Bhd launched the first phase of its new township, Mutiara Hills in Semenyih, Selangor on April 10. 

Mutiara Hills was previously a palm oil plantation named Balau Estate, which was owned by Boustead Plantations Bhd. Due to be completed in 2027, the 1,200-acre mixed-use township will offer residential and commercial units, as well as a business hub. 

The freehold Mutiara Hills is divided into three sectors, the first of which has a gross development value (GDV) of RM895 million and will comprise five phases. The first sector’s first phase is called Balau Homes and will comprise 230 two-storey terraced houses.

Occupying a 14.89-acre tract, Balau Homes has a GDV of RM125 million. The 2-storey terraced houses will have built-ups of 1,512, 1,677 or 1,743 sq ft on a land area of 20ft by 70ft, with an indicative price of RM500,000 and below. 

Boustead Holdings deputy group managing director and Boustead Properties acting CEO Izaddeen Daud says, “Boustead Properties will continue to focus on providing affordable, quality homes in our townships and niche high-rise integrated developments. 

He adds, “We will ride on our strong DNA and strive to innovate our products creatively, with digitalisation in all our business processes moving forward. Being part of Boustead Holdings enables us to integrate services provided by the respective companies into our townships.” 

Read more about it in The Edge Malaysia weekly’s April 19 edition.

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