Country Garden Sells RM6.7bil Worth of Properties in Danga Bay

31 Jul 2017

 

Chinese developer Country Garden has raked-in around RM6.7 billion in sales from its Danga Bay development at Jalan Skudai in Johor since the project launched in 2013, reported The Star.

According to its regional sales and marketing General Manager Alex Zhao, they are set to grant vacant possession for the first 4,000 units at the development by August.

“Our proven track record in delivering the units (on time) will further strengthen the confidence of our buyers.”

He noted that buyers from Malaysia, Singapore and China account for about 90 percent of the sales, while the remaining 10 percent come from Indonesia, Japan, South Korea, India and European countries.

With a gross development value (GDV) of about RM10 billion, the waterfront project represents the first overseas development undertaken by the Chinese developer. It is being constructed by its subsidiary Country Garden Danga Bay Sdn Bhd.

Zhao pointed out that Danga Bay offers breath-taking views of the Johor Straits and Singapore’s skyline. It is also part of the Iskandar mega project that envisions to turn southern Johor into a vibrant region that is recognised across the world.

Furthermore, Country Garden has other projects in Malaysia, where it has amassed a huge landbank since early-2013. Most of these land holdings are located in Johor and many are along the seashore.

Zhao said they chose to build their projects in Johor given its convenient access to Singapore.

 

Image sourced from The Star

 

This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email Editorial-MY@propertyguru.com.my

 

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