GEORGE TOWN: GUH Holdings Bhd
is launching RM480mil of residential and commercial properties in Negri Sembilan in the second half of 2023.
Group managing director Datuk Seri Hng Bak Tee told StarBiz that 332 residential units would be launched in Bukit Kepayang, where the group still owned approximately 150 acres.
GUH is developing 30 units of 2½ and three-storey shop offices, priced between RM1.2mil and RM2.2mil, for the Kepayang Sentral 2 commercial project.
For the Kepayang Residences and Kepayang Haven residential schemes, the group is developing 302 units of two-storey super link houses and two and three-storey semi-detached houses, priced between RM805,000 and RM2.83mil.
“We are confident of realising about 70% of the gross development value over the next three to four years,” Hng said.
According to Hng, the group is still selling at competitive prices despite the higher costs of building materials.
“We maintain the prices of pre-Covid 19 and accept a lower profit margin,” he said.
Hng said that during the soft launch recently, the group registered encouraging sales and received enquiries about the projects.
The properties are located near the southern route of the North-South Expressway, which provides seamless connectivity to Kuala Lumpur and Melaka.
“The group still has approximately 150 acres of undeveloped land in Taman Bukit Kepayang.
“The plan is to further develop the township of Taman Bukit Kepayang with more comprehensive development, including residential, retail and commercial projects over the next 10 years,” he said.
In Penang, the group has initiated a masterplan development known as SA Central comprising drive-through restaurants, retail shops, condominiums, serviced apartments and terrace houses in Simpang Ampat.
“Integrated infrastructure, public transport systems, residential housing and a commercial hub will eventually surround SA Central.
“We will soon launch terraced houses and retail shops for the project.”
Meanwhile, the group is constructing a foreign worker dormitory project in Sungai Bakap, Penang.
The dormitory, equipped with integrated facilities, is located on a 7.62-acre site and can accommodate 5,025 beds.
According to the National Property Information Centre report 2022, the property market in Negri Sembilan for 2022 recorded 16,786 transactions worth RM5.59bil, which increased by 37.3% in volume and 34.2% in value as compared to 2021.
