By Farah Wahida:
Daiman Development Bhd has no immediate plans to build high-rise properties; rather. It will continue to develop landed houses as demand for such units is still good, reported The Star.
“We want to continue doing what we know best and let others develop high-rise residential projects,” said Siah Chin Leong, General Manager at Daiman Development.
Although many property developers in Iskandar Malaysia have shifted to building high-rise properties, Daiman does not see the need to join the trend.
“However, we do not dismiss the possibility of the company going into high-rise residential property development in the future,” he explained, adding that the company’s decision may change depending on the project’s return on investments (ROI) and its benefits to the shareholders.
Moreover, Daiman’s ongoing projects — Taman Daiman Jaya in Kota Tinggi and Taman Gaya in the Tebrau corridor — had seen good take up rates due to the timely delivery of the units.
“Our 34ft by 75ft two-storey cluster homes in Taman Daiman Jaya, priced from RM412,000 each and above, are great buys compared with similar products offered by other developers from neighbouring developments,” said Siah.
Meanwhile, Daiman is planning to spend over RM120 million to complete a 336-room four-star hotel in Johor Bahru. The hotel is expected to open in Q1 2014 and will be managed by Hilton under its brand “Double Tree by Hilton,” added Tay Thiam Song Group Managing Director of Daiman.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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