http://www.theedgeproperty.com/news-a-views/11472-umland-to-launch-rm452m-suasana-in-johor-baru.html
UMLand to launch RM452m Suasana in Johor Baru
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By Wong Mei Kay of theedgemalaysia.com | | Friday, 02 August 2013 13:24 | <!-- AddThis Button BEGIN -->
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PETALING JAYA: United Malayan Land Bhd (UMLand) will be launching a residential component in its RM452 million mixed use project, Suasana, in Johor Baru at end-August.
Upon completion, Suasana will house a four-star international brand hotel, a tower consisting of serviced apartments and a retail podium. It is sited on a 1.5-acre (0.6ha) freehold commercial land and is located within a five-minute walking distance to the upcoming JB Sentral mass rapid transit (MRT) station, which will link Singapore and Johor Baru.
Group CEO Charlie Chia told The Edge Financial Daily the main selling point of Suasana is its proximity to the JB Sentral MRT station.
“From Suasana, you can walk across an overhead link into Komtar [Kompleks Tun Abdul Razak]. From there, you can head down to JB central where the station is located,” he said.
UMLand group deputy general manager of marketing and sales Kim W Neoh said it is targeting Singaporeans or Malaysians who are currently residing in Singapore. “We have already received an encouraging number of registrants for the units.”
The development is in Jalan Wong Ah Fook, located in the heart of Johor Baru central business district and is within walking distance to landmarks such as Komtar, City Square and Galleria Kotaraya, facing the Persada convention centre.
Suasana is also close to transport hubs such as Sultan Iskandar Custom Complex (CIQ), Terminal Bas Kota Raya and the JB-Singapore taxi stand.
A total of 342 serviced apartment units are up for grabs, with prices ranging from RM650,000 to RM1.3 million. This translates into an average selling price of about RM1,000 psf. There are one- to three-bedroom units with sizes ranging from 646 to 1,195 sq ft and seven premium suites and penthouses with built-ups between 829 and 2,152 sq ft.
The living rooms and bedrooms are fitted with air conditioners. The developer also provides kitchen cabinets and appliances such as hood, hob and microwave oven. The lighting, mirror and vanity cabinet will be provided in every master bathroom.
The planned facilities are located on the rooftop, with a gym, viewing deck, BBQ pit, management office and rooftop lounge.
UMLand is aggressively strengthening its position in Johor and diversifying its revenue stream via an investment portfolio, which will include a series of hotels.
At present, the group has 2,044 acres of undeveloped landbank in Johor with an estimated gross development value (GDV) of RM9.36 billion. UMLand plans to launch several projects in Johor by the second quarter of next year.
The projects will include residential and commercial properties (GDV of RM959 million) in the existing Seri Alam and Seri Austin townships, as well as niche developments (GDV of RM959 million) in Puteri Harbour (6.7 acres), a joint venture between UEM Sunrise Bhd and Medini Lakeside in Medini GDV (RM1.4 billion;13.26 acres).
Also in the pipeline are two industrial projects in Pulai Jaya and Cahaya Baru. Covering 629 acres, the Pulai Jaya project has a GDV of RM718 million and RM687 million for the 333-acre Cahaya Baru development.
This article first appeared in The Edge Financial Daily, on August 02, 2013.
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