IGB Bhd, through its wholly-owned subsidiary Tan & Tan Developments Bhd, plans to launch a project at its Kundang township in Gombak and one at its Southpoint development in Mid Valley City in 2Q2021 and 3Q2021 respectively.
“As neighbourhoods in and around the heart of the Klang Valley become increasingly crowded and congested, more people are looking to the suburbs for spacious family homes. Kundang is one such area that promises convenience and a great lifestyle,” Colin Ng, chief marketing officer of Tan & Tan, says in an email.
“Despite the current market conditions, we are confident that demand for spacious, affordable landed homes like the ones in D’Laman Kundang will remain resilient.”
To be launched in 2Q2021, D’Laman Kundang has a gross development value (GDV) of RM80 million. Located on a 6.5-acre parcel, the freehold development with individual titles will comprise 179 two-storey link houses with built-ups from 1,517 sq ft (20ft by 70ft) and spacious 4-bedroom, 3-bathroom layouts. According to the developer, the units are designed as family homes.
On the price of units in the area, Ng says, “The cost of terraced houses ranges from RM350,000 to RM500,000. In comparison, similar freehold 2-storey houses in the inner suburbs of Petaling Jaya and Subang Jaya would be in excess of RM800,000.”
He adds, “Increasing property prices in the city centre are deterring the younger generation from buying homes there, choosing instead to purchase at more affordable suburban areas.”
D’Laman Kundang is located next to an up-and-coming commercial area with retail and F&B outlets as well as leisure facilities. The development is also located near Tasik Biru Kundang.
A significant number of property developers have carried out projects — ranging from residential to industrial developments — in Kundang in recent years. Tan & Tan has established itself as one of the pioneer developers in the area, starting its first industrial project there in 1992, and first residential project in 2001, according to Ng.
“Kundang fulfils four of the main criteria that most people look for when buying property — location, connectivity, convenience and price. In terms of location and connectivity, it takes about 20 minutes to reach the Duta toll plaza on the North-South Expressway. Connectivity has also been enhanced with the Kuala Lumpur-Kuala Selangor Expressway (Latar) and Guthrie Corridor Expressway. Travel time to Subang and Shah Alam is just 30 minutes. Besides having access to the three major highways, D’Laman Kundang is located only 5km from the Kuang KTM Station. It is also near primary and secondary schools.”
Meanwhile, the group will launch its final development in Mid Valley City — known as Southpoint Residences — in 3Q2021. Located on a 2.2-acre parcel, the project has a GDV of RM400 million and will comprise 172 apartment units with built-ups of 1,107 to 5,837 sq ft.
“Homeowners and investors have a chance to own a unit in the last development at Mid Valley City. Spaces have been designed to allow greater flexible living in a high-security development, with unparalleled views of the KL skyline,” says Ng.
“Being located in Mid Valley City means that Southpoint Residences will be within walking distance of [almost] everything anyone would need. And that is the X factor that makes it such a coveted place to call home. It is for those who seek to live near the conveniences and luxuries their lifestyle demands.
“Mid Valley City is, after all, home to two of the best shopping malls in the country, with 558 and 231 outlets in Mid Valley Megamall and The Gardens Mall respectively. Thanks to a direct bridge connection to these malls, those living in Southpoint Residences will be able to shop for their groceries at a wide range of supermarkets and hypermarkets, dine in the numerous restaurants offering a variety of gourmet cuisines, and indulge in the retail experience the malls have to offer,” he adds.
Tan & Tan was founded in 1971 and its developments include Co-Living @ Damai Residence, Stonor 3 KLCC, Park Manor and Sierramas Heights.
At present, the developer is focusing on four key areas — property development, retail, commercial and hospitality. Its core focus areas are aimed at ensuring a balance between business risks and opportunities, and generating healthy, long-term recurring income for the group.