Kota Seriemas in Nilai

PETALING JAYA (Sept 24): The developer of the 151-acre Kota Seriemas Golf and Country Club (KSGCC) in the Kota Seriemas township in Nilai, PNB Development Sdn Bhd (PNBD) sees the value of properties in the town rising.

“The township has attracted more owner-occupier than investors. That being the case, investors should be open to developments in Nilai, where there is an upside potential of 15% to 20%,” said its chief executive officer Mohd Salem Kailany.

“The property market in Nilai is not as big as those of major towns in the Klang Valley. Transactions are still not as active, so we want to offer better products for more value appreciation. When we launched our first terraced house in 2000, the prices were about RM150,000. Now, these houses are valued at about RM400,000,” said Salem.

According to Salem, PNBD is introducing more affordable landed homes.

The 2,400-acre Kota Seriemas has an estimated gross development value of RM11.09 billion and is expected to be completed in 2020. PNBD plans to launch a total of 8,702 properties where 8,680 will be residential and 22 commercial. To date, the group has launched 2,103 units and sold 1,662 of them, and six plots.

“We have successfully delivered about 1,500 units and will continue to hand over 200 to 300 units every year. Based on the number of houses we have handed over, we estimate the township’s population to be 5,000 to 6,000,” Salem told City & Country.

“We intend to develop projects that we consider affordable and are within the reach of the people in the surrounding areas.

“We consider anything less than RM500,000 to be affordable. There are two segments in this category. One involves properties that meet the affordable housing criteria and are provided by the various state governments such as Rumah Selangorku.

“The other involves properties that are not governed by statutory requirements but fall within the affordable price range. The latter is what we’re focusing on at the moment,” he said.

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This is an excerpt of the report in the Sept 26, 2016 issue of City & Country, the property pullout of The Edge Malaysia. Subscribe here for your personal copy.