GuocoLand unveils Emerald Hills, targets 50% take-up rate for first phase by year-end

KUALA LUMPUR (March 1): After a hiatus, GuocoLand (M) Bhd is gearing up for more launches this year, starting with Emerald Hills @ Alam Damai, Cheras, and targeting a 50% take-up rate for its first phase by year-end.

According to GuocoLand group managing director Datuk Edmund Kong, ever since the new Emerald Hills sales gallery was made opened to the public two weeks ahead of its official opening, the interest among potential homebuyers has spiked by at least 50%.

“So, we expect the first phase of Emerald Hills to be 50% taken-up by the end of this year, which will comprise two blocks of lakefront condominiums. We will have a soft launch for the first phase by end-March.

“The terraced homes will be launched by the end of this year,” he said today at the media preview of Emerald Hills.

The sales gallery will be officially opened to the public by this Saturday (March 3) onwards.

Located on one of the highest points of Alam Damai, Cheras, Emerald Hills spans across 47.4-acre of freehold land, and boasts an estimated gross development value (GDV) of RM963 million. The development will comprise 1,378 condominium units in four blocks and 181 terraced homes in total.

Pricing for the lakefront condos start from RM500,000 while the terraced homes are priced from RM1.2 million. The built-ups for the condos will range from 840 sq ft to 1,195 sq ft, while the terraced homes will be 22ft x 75ft. Each condo unit will come with two car park bays.

“Cheras is a very mature area where we are looking to attract owner-occupiers. Many homebuyers nowadays are looking for a serene environment for their homes and you can get it here at Emerald Hills.

“Emerald Hills comes with 21-acre of open space, with a central park and lake that are surrounded by a 1.7km jogging and cycling track,” said Kong.

“At GuocoLand Malaysia, we strongly believe that home is where heart is. With Emerald Hills, we are creating a new benchmark in healthy living and lifestyle for the mind and body.

“We are building homes that are not only modern and offer maximum privacy with generous open space in a pleasant green setting, but also provide a practical and healthy living environment that is safe and perfect for all in the family,” added Kong.

Apart from Emerald Hills, the developer is also looking to launch Emerald 9 Cheras and Emerald Rawang this year. Kong added that Emerald 9 Cheras will be a 10.74-acre transport-oriented development and is 350m away from the Taman Suntex MRT station.

Emerald 9 Cheras will have an estimated GDV of RM1.5 billion while Emerald Rawang has a GDV of about RM2.5 billion.

Kong also shared that with the three launches lined up for 2018, GuocoLand is hoping to surpass its sales target of RM1 billion, adding that the developer will continue to offer products that are within the affordable range.

On the property market, Kong said it remains challenging, where buyers are still cautious. Nevertheless, he believes good products will still be able to attract buyers.

Currently, GuocoLand undeveloped land stands at between 6,000 to 7,000 acres, including its land in Jasin, Melaka. Over 400 acres of its total landbank are located in the Greater Klang Valley.

The estimated GDV for the lands in the launching pipeline is about RM5 billion.

Kong added that GuocoLand is always on the lookout for more land in the Klang Valley but it is also eyeing land from other states such as Penang.