Called 28@Gertak Merah, the new lifestyle residential area is located in the old quarter of the southern city in Jalan Mustapha near the Istana Besar's Royal Gardens and the Abu Bakar Mosque.
With only 28 limited edition units of semi-detached homes on international leasehold lots, the houses start from RM1,177 million to RM2.534 million.
The units cover a total of 1.861ha, which is surrounded by greenery and away from the hustle and bustle of the city's commercial areas.
It is learnt that the project is designed with a modern colonial-cum-tropical concept. Every unit will be equipped as a modern smart home with an alarm system, complete with panic buttons and an automatic gate. The residential area will be a 24-hour guarded commune.
Mudra Tropika chief executive officer Mohd Nazim Sabtu said the 28@Gertak Merah project's main advantage is its strategic location on prime land, about three kilometres from the Johor Baru city centre.
"The main concept and objective is to deliver exclusive living with unobstructed hill view, low density, privacy and landscaped environment. In a nutshell, its an exclusive residential area in the heart of Johor Baru," he told Business Times when met yesterday.
Nazim said they had planned the concept of having a low-density boutique residences about two years ago.
The 28@Gertak Merah project is the latest addition to Johor Baru's growing, but exclusive market for high-end lifestyle residential properties which is priced more than RM1 million.
Once completed, it will be a main part of the Flagship A zone under the Iskandar Malaysia economic development corridor.
Nazim, who is also a director of Mudra Tropika, revealed that the company has always put pride in being different when it comes to property development, and the 28@Gertak Merah project is testament of this.
Despite talk that this year will see a slowdown in property sales, he said Mudra Tropika is confident that it can achieve 50 per cent of sales for 28@Gertak Merah by this year.
The figure equates to RM20 million in the project's gross development value.
"The groundwork has started and the project is scheduled to be completed by early 2014," said Nazim.
Mudra Tropika was established in 2006 and was initially put in charge to privatise and develop several parcels of state government land.
The company has seen the development of several Malay Reserve land in the Nong Chik area starting with Nongchik Heights, D'Permata homes, a block of three-storey commercial shoplots, the Nongchik Riverside commercial project and of late the 28@Gertak Merah project.
By Business Times
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