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Time : 10am - 7pm
Date: 24th - 25th November 2007
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Harta Intan unveils RM65mil projects

By The Star

PENANG: Harta Intan Holdings Sdn Bhd is launching three development schemes in Penang and one in Selangor, comprising 243 commercial and residential properties with an estimated gross sales value of RM65mil, in early 2008.

Senior property manager Chan Kwai Heng said Harta Intan would launch, at Jalan Masjid Negeri in Penang, Pinhorn Suites, comprising luxurious 24 condominium units with built-up areas from 1,800 to 3,000 sq ft, and priced from RM700,000 onwards.

On the mainland, Harta Intan’s larger scheme is the RM24mil Taman Palladium project, located in South Seberang Prai.

“The project, comprising 80 semi-detached houses and bungalows and 12 single-storey shophouses, is located on 10 acres in Nibong Tebal,” he told StarBiz.

He said the selling point of the project would be the pricing, about 3%-5% lower than similar types of properties developed in the area.

“The single-storey semi-detached houses cost RM140,000 onwards, while the double-storey ones start from RM280,000.

“The double-storey bungalows are priced from RM400,000, while the single-storey shophouses are sold from RM150,000,” he said.

In Jalan Raja Uda in Butterworth, Harta Intan is also kicking off the RM10mil Sri Cempa scheme, comprising 88 medium-cost apartments.

“The 950 sq ft units, priced from RM125,000, are located next to the Butterworth Outer Ring Road,” he said.

In Shah Alam, Chan said, the group would develop the RM14mil Taman U16 scheme, consisting of 63 double-storey terraced houses, priced from RM210,000.

“Given the rising cost of land and raw material prices in Selangor and Penang, the group’s strategy is to develop residential properties in key locations that are attractively priced.

“Competitive pricing helps sell properties,” he said.

Chan said 90% of Phase II of the Palm Palladium project on Penang island, comprising 134 units in a 29-storey building, had been sold since its launch at end-2006.

“The demand for the Palm Palladium units is good due to competitive pricing and quality finishing.

“Prices have appreciated by 10% to 15% since its launch,” he said, adding that Phase II was scheduled for completion in the first quarter of 2008.

Established in 1996, the Harta Intan group has to date completed 2,260 residential units and 69 shops.