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KUALA LUMPUR: Mulpha International Bhd will offer Kuala Lumpur buyers its bungalows and semi-detached homes from its Bayou Creek project in Johor this weekend.
The Bayou Creek Precinct 7 Phase 7A bungalows and semi-detached homes come with high-speed broadband connection, a first for a residential project in Iskandar Malaysia, Johor.
Bayou Creek is located within Mulpha’s Leisure Farm Resort residential development in Iskandar Malaysia.
The gated development spreads across 1,765 acres (714.3ha) and is a short distance to Singapore via the Second Link. About 800 acres of the development have been developed to date.
Leisure Farm has won several Fiabci (International Real Estate Federation) awards. The most recent was for its Bayou Water Village at the Fiabci Malaysia Property Awards 2011 for Best Residential Low Rise.
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| One of the show bungalows in Mulpha International's latest offering in Leisure Farm's Bayou Creek Precinct 7. |
Bayou Creek Precinct 7’s Phase 7A has 50 semidees of 40ft by 80ft each and 46 bungalows (50ft by 100ft) in total with a gross development value of RM115 million.
About 50% of the units have been taken up with the majority of the buyers Singaporeans, followed by expatriates and Malaysians.
The KL launch is being held in conjunction with the Mulpha Property Exhibition this weekend.
Phase 7A is the first phase of the Bayou Creek Precinct 7 development.
“Iskandar Malaysia is now getting more attention from KL-ites so we decided to introduce the homes here and found that many KL-ites are interested in properties in Iskandar Malaysia for investment and education purposes,” CEO Ronn Yong told The Edge Financial Daily.
He highlighted that the investment potential is good as prices are between RM400 psf and RM420 psf for the landed homes compared with prices as high as RM1,500 psf to RM2,000 psf in Kuala Lumpur.
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| Yong: We found that many KL-ites are interested in properties in Iskandar Malaysia for investment and education purposes. |
Yong said the current product mix at Leisure Farm has changed from resort to family homes.
“Our products earlier on were more of a resort home concept like our Bayou Water Village but the product we are creating now is not,” Yong said.
“We are switching the palette of the product itself more to family homes.”
The semidees for sale at the KL launch are the Type C as both the Type A and B variants have been sold. Type C has a built-up of 3,800 sq ft and prices start from RM1.79 million. The bungalows have a built-up from 4,400 sq ft to 7,000 sq ft and start from RM2.5 million.
According to Yong, the homes will be fitted out with over RM120,000 worth of furnishings and fittings such as built-in wardrobes, kitchen cabinets, hood and hob, ceiling fans, lights, alarm system, tinted windows, and high-speed broadband connection.
The launch will be held at JW Marriott Hotel, KL. At the launch there will also be a talk by Mohd Noor Abdul Salam, head of flagship development, Iskandar Regional Development Authority.
This article appeared on the Property page, The Edge Financial Daily, March 30, 2012.
