5 December – Eupe Corporation Berhad today announced the acquisition of land for its fourth major residential project in Klang Valley.
The purchase of the 2.9 acre site in Petaling Jaya (PJ South) continues to build Eupe’s project
pipeline in Malaysia’s biggest property market.
Eupe’s Group Managing Director, Dato’ Beh Huck Lee, said the land’s location and target market
would allow the Group to diversify its market offering in KL while also providing a strategic hedge in what remains an uncertain market.
“The land location provides for a more affordable product than what we’ve offered with our current projects in KL,” Dato’ Beh said.
“Our first three KL projects have been targeted at niche, aspirational markets while this new project
will be positioned to target home makers on a more limited budget.
“This will allow us to directly engage with what is a large and growing part of the KL property market where affordability continues to be a major point of product focus.
“We view this new land parcel as an important addition to our Klang Valley expansion plans in that
it is strategic response to a changing market environment, and will allow us to target a highly
relevant segment of the market.”
Dato’ Beh said: “As Eupe consolidates and build its foothold in Klang Valley, our fourth Klang Valley
project will not only diversify our offering but build upon our core market strength of giving buyers
a home with clear points of differentiation”
Eupe, which has built more than 22,000 homes over the past 30 years in the northern state of Kedah, began its expansion into the Klang Valley market with the launch of Novum at South Bangsar in 2016.
Novum is almost totally sold out, while Parc 3 at KL South, which was launched in August last year,
has exceeded 75 per cent take-up rate, a strong outcome in what continues to be a challenging
market.
Construction of Novum is expected to be completed in the second half of next year. Construction
of Parc 3 commenced in November last year. Planning continues for Vivus at Seputeh, with a launch expected around the second half of next year.