This article first appeared in The Edge Financial Daily, on July 11, 2016.
PETALING JAYA: UDA Holdings Bhd will launch two projects in Bertam on Penang’s mainland which have a total gross development value (GDV) of RM1.8 billion, said its managing director Datuk Ahmad Abu Bakar.
The two projects are Gravitas, a mixed-use development with a GDV of RM1.1 billion; and Crescent Dew, a luxury residential development with a resort concept that has a GDV of RM700 million.
Gravitas, which is located in Seberang Perai Tengah, is a 21.3-acre project which will comprise a retail centre, food and beverage outlets, podiums, activity centres, business hotels and serviced apartments.
The first of eight phases is scheduled for launch in August, and will feature 114 units of four-storey shopoffices with built-ups of 1,098 to 1,119 sq ft that are priced from RM560,000 to RM1.5 million, as well as a 34-storey condominium comprising 300 units with built-ups of 1,100 sq ft that are priced at RM450,000, and a 3.7-acre urban park.
The entire development is expected to be completed in 2021.
Meanwhile, Crescent Dew will offer 260 landed properties including two-storey and three-storey semi-detached houses, two-storey bungalows and three types of three-storey bungalows.
Built-ups range from 3,000 to 5,500 sq ft, and prices are tentatively set from RM980,000 to RM2.4 million.
The gated-and-guarded township will feature a man-made lake, a 25,000 sq ft lakeside clubhouse with dining, health and recreational facilities such as a swimming pool, badminton courts, playground, gazebos and cycling and jogging track.
UDA aims to build a fitness and wellness centre, restaurants, cafes and some retail outlets in the development.
Crescent Dew is targeted for completion in 2020.