I&P Group Sdn Bhd plans to build a mixed development project on the 805 acres land it acquired in Semenyih, Selangor in the next two to three years.
However, the company does not plan to collaborate with any other parties for this project, said I&P marketing head Datuk Muhamad Zaili Muhammad Yusof.
Group marketing and communications senior general manager Noor Lida Nazri noted that the type of products that the company would launch will depend on the market’s situation.
“We will follow the market and offer products which can sustain the economic situation at that time. If it’s good times, then we’ll develop more medium to high-end products,” she said.
“If times are challenging, then we’ll offer properties that are ideal to the market situation.”
Notably, Muhamad Zaili expects the local property market to improve from 2017.
“This year has been slow. We expect 2017 to be better than this year and pick up further in 2018.”
Meanwhile, Noor Lida revealed that the company has developed up to 70 percent of its Temasya Glenmarie project, with around RM3.1 billion in gross development value still to be developed.
Projects in the pipeline include the TGIX luxury serviced apartments that will be developed on a 22-acre site.
“The service apartments will take up 17 acres. We’re leaving the remaining land for the potential development of a hotel or convention centre,” added Noor Lida.
Strategically located, the Temasya Glenmarie township is accessible via the Federal Highway, the New Pantai Expressway, the Guthrie Corridor Expressway and the New Klang Valley Expressway.
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
