PJD plans RM1.7b projects by Q3

PJ Development Holdings Bhd (PJD) aims to ride on the positive economic data by launching four projects worth about RM1.7 billion by third quarter of this year.

Chief operating officer Lim Lian Seng said the projects are located in Sri Hartamas and Cheras in Kuala Lumpur, Butterworth in Penang, and Kuantan in Pahang.

"There is a surge in demand for new residential, commercial and retail properties in those areas. We expect the products to sell fast under the current market conditions," Lim told Business Times.

This would be the first round of major projects it is launching since 2009, he added.

PJD had spent the last two years working on new plans after the economic crisis in 2008.
"We incorporated new designs and elements as well as reduced the sizes for certain products in some of our approved projects to make them more affordable and appealing to buyers," he said.

In the high-profile locale of Sri Hartamas, PJD will launch Duta Kingsbury, near the high-end commercial hubs of Mont'Kiara Solaris and Dutamas Solaris.

Duta Kingsbury is one of few projects which PJD deferred after the crisis. The project was previously to feature some 200 condominiums of more than 3,000 sq ft and villas.

Lim said it will now comprise more than 300 units of condominiums, ranging from 1,400 sq ft and priced above RM700,000. The villas have been scrapped.

In Cheras, PJD will launch a mixed-integrated development consisting of three blocks of serviced apartments, two shop-office towers with entertainment areas, retail complexes and restaurants.

Lim expects the project to be the new iconic landmark for Cheras.

In Butterworth, PJD will launch phase four of its Harbour Place project, comprising over 300 units of serviced apartments with priced from RM300,000.

In Sungai Karang, Kuantan, the company will launch over 200 units of seaside serviced apartments, close to the Swiss-Garden Resort & Spa Kuantan. Each unit will be priced from RM200,000.

By Business Times