Developer to focus on projects with short turnaround time

VENTURING into niche property projects with short turnaround time will be the focus of Asia Pacific Land Bhd (AP Land) under its new brand building initiatives.

“We are positioning our business and development strategy in clearly market-driven property projects that will stand out in terms of product differentiation and branding,” said joint managing director Low Su Ming.

Low Su Ming

AP Land is on the lookout for strategic land to undertake more high-end projects and is in the final stages of acquiring a piece of land in the Kuala Lumpur city centre for a small office/home office (soho) project.

Low said that despite the uncertainties in the economy, the fundamentals in the property market remained sound.

“There is a growing niche market of high net worth individuals who are looking for good opportunities to buy quality property products that can enhance and complement their lifestyle.

“We believe choice properties in strategic locations with high potential to value add will be more resilient to a market downturn,” she said.

Projects lined up include MyHabitat Tower 2, a 38-storey tower comprising 215 condominium units with a gross development value (GDV) of RM220mil in Kuala Lumpur, and 80 high-end villas with a GDV of RM40mil in Bandar Tasik Puteri near Rawang.

AP Land's 2,670-acre Bandar Tasik Puteri still has 1,500 acres to be developed over the next eight years.

The company is planning for more upmarket lifestyle products in the township for future launches.

The third nine holes at Tasik Puteri Golf & Country Club (TPGCC) in Bandar Tasik Puteri have just been opened while the clubhouse extension and upgrade will be ready by the third quarter this year.

The site of AP Land's Penang Island Bay Resort in Batu Ferringhi.

AP Land is now putting the final touches to the Penang Island Bay Resort, its luxury residential project with a GDV of RM400mil in Batu Ferringhi. The project is scheduled for launch next year.

“We are creating a niche product for the discerning and affluent group, especially expatriates looking for top-class property in the region.

“It will be a benchmark development in Penang in terms of exclusivity,” said executive director B.S. Wee.

The eco-friendly residential project will comprise resort bungalows, villas and high-end apartments in an exotic “back-to-nature” setting. The hillside project has lush greenery and views of the Andaman Sea.

Wee said to promote a green and sustainable development, much effort would be expended to retain the project's natural terrain and land clearing would be minimise.

“The development will give priority to sustainability and management of the environment by adopting best practices that will maintain the natural terrains.

“It is a low-density project with only 172 units to be developed on over 40 acres,” he said.

Conceptualised and landscaped by a renowned Australian architect, the residences are designed with space, serenity and resort-like atmosphere to create an exclusive haven.

“The project will enhance Penang's image as a preferred destination for leisure and retirement.

“This is in line with the state government's initiative to promote Penang as a choice destination under the Malaysia My Second Home Programme,” Wee said.

By The Star