Developers’ Good Track Record Can Help Boost Sales

The Star: November 14 2008

PUCHONG: A developer’s track record is what buyers look at during challenging economic times, says YTL Land & Development Bhd sales and marketing senior manager Judy Loo.

Speaking during a media tour of its leasehold Waterville Homes, Loo said buyers were not put off by the fact that a particular project was not freehold.

“I don’t think it is a hindrance. Buyers today are more influenced by the track record of a developer, especially in the current challenging times,” she said.

She added that the homes, which are part of YTL Land’s high-end, 80-acre Lake Edge project in Puchong, had received strong interest mainly from Puchong residents.

“Most of the potential purchasers are from the Puchong area who are looking to upgrade. We have also received interest from existing Lake Edge residents,” Loo said.

She added that the Waterville Homes, now about 65% completed, comprised 50 units of 2½-storey semi-detached houses with a private lap pool each. The standard lot size is 40ft x 85ft.

Built on 4.4 acres of leasehold land, the homes are expected to be completed by end-2009. Priced at RM1.6mil per unit, this phase would have a gross development value of RM80mil, Loo said.

Lake Edge comprises multi-themed fenceless homes set in a modern tropical neighbourhood. A 12-acre lake is also part of the development.

The project received the award for best low-rise residential development at the FIABCI Malaysia Property Award 2008 held in Petaling Jaya on Tuesday.