Thursday, 28 June 2012

(BUSINESS TIMES) NCT banks on rising demand in Sepang

NCT United Development Sdn Bhd, a property development arm of NCT Venture Corp Sdn Bhd, expects to receive strong response for its township project, Sepang Perdana, as demand for properties in Sepang, Selangor, is on the rise.

"There is demand for good, quality properties in Sepang and we believe we are in the position to address the demand," group managing director Yap Ngan Choy told Business Times in an interview recently.

Sepang Perdana, built on 127ha of land, will comprise low-cost apartments, terraced, semi-detached and super-link houses, bungalows and commercial properties, among others. A gated-and-guarded community concept will be implemented for high-end properties.

The Sepang Perdana development, which comprises more than 10 phases, is expected to generate a gross development value (GDV) of more than RM800 million upon completion in 2017.

There are plans to connect the area and improve the linkage to the existing federal road, on top of the ready access to major highways in the country.

Yap said the properties a the township would attract airport and airline employees as it is located just 10 minutes away from the Kuala Lumpur International Airport .

"Some airlines encourage their staff to live within the proximity of the airport, so, Sepang Perdana will also be a good fit for them.

"With travelling time to Putrajaya and Cyberjaya within 20 minutes range, I believe the project will attract buyers who are working in the two places. It will also be able to attract those who are working in the Kuala Lumpur city centre as the Salak Tinggi ERL (express rail link) station is just five minutes from Sepang Perdana," he added.

Sepang Perdana was previously known as Taman Kenanga, one of the country's largest abandoned housing projects in Bandar Baru Salak Tinggi. The project was abandoned in 1999.

Its previous developer, Kumpulan Sepang Utama Sdn Bhd, is currently in liquidation.

A joint effort between NCT United Development Sdn Bhd and chargee Malaysia Buiding Society Bhd had successfully revived the project. NCT United Development is a special purpose vehicle set up within NCT Group of Companies to undertake the development of the Sepang Perdana township.

"The next phase, comprising terraced and super-link houses, will be launched in the third quarter of this year. There are plans to develop houses under PR1MA (One Malaysia Housing Programme) for eligible buyers," Yap said.

Over the next few years, besides focusing on its existing project in Sepang, NCT will also focus on the development of its resort property project in Genting Highlands, as well as growing its landbank.