PETALING JAYA: BOLTON Berhad announced that it will embark on its first build-then-sell residential development in Setapak, Kuala Lumpur here yesterday.
The 5.77-acre leasehold development of 70 3-storey superlink terrace houses will be constructed on a joint venture basis with CRSC Property Sdn Bhd.
The site is part of an ongoing 66.65-acre mixed residential and commercial development in Taman Sri Rampai.
"We expect this project to be a quick turnaround for BOLTON as the land is currently vacant and ready for immediate development," said Datuk Mohamed Azman Yahya, BOLTON Executive Chairman.
"Although this is our first build-then-sell concept development, we are confident that that BOLTON's good and solid reputation has garnered us a strong following in the Klang Valley to ensure saleability of the superlink terraced houses," he added.
He also said that Taman Sri Rampai's strategic location will enhance the attractiveness of the property, due to accessibility to the city centre, and chances of capital appreciation.
Under the agreement, BOLTON will construct and complete the superlink terraced units by February 2015, and the GDV for this development is estimated at RM80mil.