Developer M101 Sdn Bhd is on the lookout for potential land acquisitions in two Malaysian towns for the development of townships, reported the New Straits Times.
“M101 is a versatile developer, and we understand that the market is now also looking at townships. Hence, we are also open at building township projects in Rawang and Semenyih,” said its CEO Datuk Seth Yap.
He noted that the company is considering to construct townships in the suburbs, as well as integrated developments with high-rise residential components in urban areas.
“We are also open to joint-venture opportunities,” Yap explained, adding that they would assess each proposal on a project by-project basis to make sure the development and acquisitions conform with its business strategies.
Moreover, he revealed that 80 percent of the 1 ,000 units released for sale in the first phase of its M101 Skywheel project has been taken up.
“Together with the en bloc sale of RM100 million with the seven top agencies in Indonesia, we have signed and returned over 60 percent of the sales and purchase agreement valued over RM400 million.”
“We attribute our success to the fact that we did not include any premiums in our price and it starts affordably at RM999 per square foot (psf),” he said.
Standing 52 stories tall, the M101 Skywheel mixed-use project features a Ferris wheel near the top at 220 metres above the ground. There’s also a Sky Mall perched on the 50th to 52nd level with over 200,000 sq ft of commercial space.
The developer’s other projects include M101 Bukit Bintang and M101 Dang Wangi.
Meanwhile, Yap pointed out that units in premium branded projects are typically more expensive by 30 percent based on a research by Knight Frank, likewise for developments within close proximity to the mass rapid transit (MRT).
More by the developer:
Image sourced from NST
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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