Trinity plans RM640m projects

KUALA LUMPUR: Trinity Group Sdn Bhd, a property developer, plans to launch at least four new projects, with a gross development value (GDV) of RM640 million in Kuala Lumpur and Selangor, over the next two years.

Trinity Group founder and managing director Datuk Neoh Soo Keat said the four potential new projects will be in Serdang, USJ (Subang Jaya), Ampang and Taman Melawati.

"We have adequate landbanks for these projects and are acquiring more land. We are now awaiting for approvals from the relevant authorities.

"We expect to launch the first of these four in Serdang in March this year. It will be a mixed commercial and residential development," he told reporters after the official handing over of keys to buyers of Trinity Group's the Zest serviced apartments in Bandar Kinrara near here yesterday.

Housing and Local Government Minister Datuk Seri Chor Chee Heung officially handed over the keys to the buyers and launched the RM7 million access ramp to The Zest @ Kinrara 9, a 720-unit serviced apartment project, with a GDV of RM260 million.

Neoh said the company is currently undertaking two projects, namely the Latitude in USJ and Z Residence in Bukit Jalil.

"The Latitude is a 15-unit semi-detached factory development, with a GDV of RM70 million and The Z Residence, a condominium project comprising 1,136 units in four blocks, with GDV of RM550 million.

"We expect to complete the Latitude early next year, while the Z Residence will be ready by July 2014," he said.

Going forward, Neoh said the company plans to expand its property development business overseas, mainly in Asia.

"It's still in the preliminary stage. We have to conduct a study and do research for at least two years to three years before we can start venturing abroad," he said.

On the Zest serviced apartments, Neoh said the company took pride in the development as it was com-pleted three months ahead of schedule.

"The project was launched in April 2009 and was supposed to be completed within 36 months - on April 2012. But we managed to complete it earlier and received the certificate of fitness in December last year," he said, adding each unit was priced between RM250,000 and RM350,000.

For the convenience of the residents and owners, Neoh said the company has constructed Malaysia's first air-conditioned bus stop at The Zest, apart from the access ramp and will invest in a RM3 million access road for The Z Residence.

By Business Times (by Kamarul Yunus)