World renowned badminton player Datuk Lee Chong Wei has ventured into the property business with a RM160 million condominium project in Ampang.
Dubbed the A Residency D’ Suria Condominium, the 18-storey project is located at Ampang Hilir. The condominium units are priced from RM500, 000 to over RM1 million, depending on the built-up area.
Chong Wei, who is also a director of the housing development company Chong Wei Bina Jaya, launched the property on Friday at Kuala Lumpur Convention Centre, together with his co-owners.
"I have made up my mind to be involved in business after my retirement. This (the launch of the condominium project) is my future. I need something to fall back after I stop playing badminton," said Chong Wei.
"As a child growing up, my family didn’t own any landed properties. As a player, I had a dream to buy a house for my family and I have done that. Now, I’m in this business so that I can provide others with homes," he added.
The project is a team up between Chong Wei Binajaya Sdn Bhd and Perak-based property player SSF Corp.
"We have already sold 40 percent of the 252 units available due to its strategic location and are confident it will get a good response," said Wayne Chew, Executive Director of SSF.
Chew noted that Chong Wei Binajaya is a unit of the SSF. However, he refused to disclose details of their collaboration.
SSF started as a contractor when it was established back in 1995. Currently, it has built more than 1,000 homes, largely in Perak including joint ventures with the state government.
A Residency is set to be launched by September and is slated to be fully developed by 2014.
For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visit http://www.propertyguru.com.my today.