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Sunway City Ipoh Chalks Up
RM123 Mln In Sales To Date
Bernama.com 21/10/2004 By Arul Rajoo
IPOH, Oct 21 (Bernama) -- The revival of the RM1 billion Sunway City
Ipoh, a township project which was temporarily halted in 1998 due to
the regional economic crisis, is seeing a steady rise in sales and
has so far chalked up RM123 million in turnover.
Sunway City Bhd's senior general manager Ong Pang Yen said the
amount included sales from an initial 150 units of commercial and
industrial lots developed in 1996.
He believed that the value of the project would rise once a RM40
million water theme park, to be known as "The Lost World of Tambun",
is opened to the public in the first week of next month.
He told Bernama in an interview here Thursday the township project,
covering 538 hectares, was revived two years ago and this saw
commercial land being converted into residential projects.
A number of projects were launched, including the Garden Villa units
priced from RM189,888 each then.
Ong said 250 of the 468 residential units had been sold and 156
units had been delivered to buyers.
The newer units launched so far are priced at RM243,888 each.
On a higher bracket, Sunway City Ipoh is also building 46
residential units at Lakeside Villa priced between RM400,000 and
RM600,000, and half of that had been sold.
It also has bungalow developments and one of them has been sold at
RM1.2 million.
Ong said the company would launch its latest property development,
Alpine Village, in December. It will have 406 apartment units and a
total sales value of RM38 million. Fifty percent will be set aside
for bumiputera buyers and prices start from RM78,000 each.
Ong said Sunway City Ipoh had so far spent between RM35 million and
RM40 million to develop the township (excluding the theme park).
Out of this, RM20 million was used to rehabilitate the ex-mining
land on which the project is situated, building sewerage plants and
other amenities. The township also has a public golf driving range
opened since October 2002.
The Sunway Group has a 65 percent share in the project and the
balance is held by the Perak state government's investment arm,
Yayasan Perak, and the Perak State Development Corporation.
"The project was stopped for five years and we had to pay RM4
million in liquidated damages to the initial commercial and industry
lot buyers. But our chairman, Tan Sri Jeffrey Cheah, was committed
(to the project) and wanted to do something for his home state and
(therefore) we came back," Ong explained.
Also in the pipeline is the construction of a permanent campus for
Sunway College's Ipoh branch catering for 5,000 students. At
present, the college is operating from a five-lot shophouse in Ipoh
for 350 students.
But Ong said the township's jewel-in-the-crown would be a five-star
international hot-spring spa and resort. Construction work on this
is expected to start next year.
"While our theme park is more for locals, the spa will cater for
international tourists. We are currently talking to several
international spa operators," he said.
In June next year, Giant hypermarket is expected to open for
business.
"We are confident that Sunway City Ipoh will be one of the most
exciting townships in Perak. Just look at Sunway City Petaling
Jaya...it's one of the most sought after areas in the Klang Valley
now," said Ong. -- BERNAMA |
