Seri Iskandar: Hua Yang Bhd will be launching Lavender 2 at its 777-acre (314ha), RM1.4 billion Bandar Universiti Seri Iskandar township development on Oct 31.
With an estimated gross development value (GDV) of RM74 million, Lavender 2 comprises 281 units of 2-storey link houses with built-ups of 1,540 sq ft and lot sizes of 22ft (6.7m) by 70ft. The houses are priced from RM244,800.
“The development is ideally placed to take advantage of the population increase in the surrounding areas,” said Hua Yang assistant general manager Tony Ng in a statement dated last Wednesday. “Demand for affordable housing continues to be strong despite fluctuations in other property segments. We therefore expect a healthy take-up rate. The area is well connected, with direct access to the township from the Ipoh-Lumut Highway. The township is one of the fastest-growing in Perak.”
Amenities include hypermarkets, schools, banks, government offices, a shopping mall and a bus terminal.
The earlier phases, Ceria 1 and Lavender 1, saw all 538 1-storey and 2-storey terraced houses sold within 18 months of the launches in 2013.
Ceria 2, launched in May this year, is 68% sold, and D’ecolake, launched in mid-September, is 32% sold.
Ceria 2, with a GDV of RM36 million, comprises 180 one-storey terraced houses with built-ups of 990 sq ft and lot sizes of 24ft by 65ft. Prices start from RM175,800.
D’ecolake is a RM31 million, gated community comprising 32 semi-detached houses and 25 bungalow units. The semi-detached units have lot sizes of 40ft by 80ft and built-ups of 2,478 sq ft, whereas the bungalow units are 60ft by 90ft with built-ups of 2,886 sq ft. Prices start from RM588,800. Some of the houses face a 98-acre natural lake.
Hua Yang’s other ongoing projects in Perak include Ridgewood, a RM90 million development comprising cluster semi-detached and link bungalow units, and Greenview Residence, a RM12 million development comprising 2- and 3-storey terraced houses.
The group’s projects in Perak are expected to account for 13% of the total RM1.1 billion of Hua Yang’s launches for the financial year ended March 31, 2015, while 45% will come from the Klang Valley, 40% from Johor, and 2% from Negeri Sembilan.
Hua Yang had recently acquired four parcels of land situated 3.5km from Ipoh’s city centre worth RM25 million, bringing its undeveloped land in Perak to 408 acres with an estimated GDV of RM1.06 billion.
This article first appeared in The Edge Financial Daily, on October 24, 2014.