KUALA LUMPUR, March 28 — TAHPS Group Bhd, through its property arm, Bukit Hitam Development Sdn Bhd, is looking to launch a landed property development project with a gross development value (GDV) of more than RM100 million.
This is part of the planned RM10 billion township at Bukit Puchong announced in 2015.
Group Chief Executive Officer Eugene Khoo said the project comprising 140 units of gated landed houses on a 20.23-hectare land, is expected to be launched by the fourth quarter of this year.
“We are looking at affordability at the moment. If you bring in something (a house) at a million (ringgit) plus, it would be very difficult to sell. But, if it’s a RM700,000 landed property, I think it would do very well.
“When we look to launch a new project, we take into consideration the location, surrounding developments, existing projects and the secondary market’s price point of view,” he told Bernama.
As a developer, Khoo said it was important for the company to keep launching projects, even when the property market was not in such a good state.
“It just means we have to come up with a product relevant to the market at that point of time. We are a long-term player and want to ensure satisfied customers.
“We not (only) seek to develop and maximise our margin, but also offer a very good quality product to purchasers,” he added.
Khoo said the project is expected to receive a good response due to its strategic location at Bukit Puchong, which is within Cyberjaya, Putrajaya and the Klang Valley.
In terms of road connectivity, he said, the location was between the Damansara-Puchong Highway and South Klang-Expressway, as well as the upcoming Sungai Buloh-Serdang Putrajaya MRT Line.
Khoo said TAHPS Group has at present about 242.81-hectares of freehold land in Bukit Puchong to be developed.
“We plan to develop this land into a fully self-sufficient township, consisting of residential, high-rise and landed properties, as well as parks, commercial type developments such as specialty shops, and a healthcare centre, among others,” he added.
The Group aims to fully utilise the said landbank in the next 10-12 years.