GEORGE TOWN: GUH Holdings Bhd
will launch a RM1.1bil mixed-development township project in Simpang Ampat, Seberang Perai on a 46-acre site, this year.
Group managing director Datuk Kenneth H’ng told StarBiz that the project, SA Central, was based on a plan drawn up in 2018.
“Our feedback indicated that the timing then wasn’t suitable, so we held back the project.
“We have revised the plan to incorporate high rises and a higher density of houses and serviced apartments.
“The commercial component is 60% and the remaining 40% will be residential,” H’ng said.
SA Central comprises drive-through restaurants, retail shops, condominiums, service apartments and terrace houses in the heart of Simpang Ampat, surrounded by integrated infrastructures, public transport systems, residential housing and a commercial hub.
The group expects to get the green light from the local authorities soon.
In the third quarter, GUH will launch the first phase comprising 61 terraced houses and 48 commercial shops, of which two will serve as drive-throughs.
The first phase has a gross development value of RM155mil.
“There will be 10 phases, which will take 10 to 15 years to complete.
“The terraced houses project, SA Terraces, will have residential properties priced between RM680,000 and RM920,000.
The commercial shops project, SA Central Avenue, will have properties ranging from RM2mil to RM3.7 mil.
“The project will have more than 1,500 properties, over 800 units of commercial properties, namely serviced apartments and commercial shops.
According to the Mordor Intelligence report, the Malaysian retail market size – estimated at US$89.66bil in 2024 – is expected to reach US$119.64bil by 2029, growing at a compounded annual growth rate of 5.94%.
The Malaysian retail industry has been one of the largest contributing sectors to the country’s gross domestic product for decades.
GUH is also developing the Taman Bukit Kepayang, a mixed-development project next to the Seremban and Labu exit toll.
The first phase of Kepayang Sentral, the commercial component comprising 28 shop-office units, was completed in 2021.
The second phase, launched in early 2022, will be handed over to the customers in April 2024. The scheme comes with a modern, sophisticated design.
“The project’s concept offers a 30-foot shop front, the widest in Seremban, which is in conjunction with the exuberant commercial business in the vicinity.
“We expect the product range to be well-received with demand in the market, “ Hng said. The group is also developing RM477mil worth of properties in Taman Bukit Kepayang this year.
The projects are 30 two-and-a-half-storey and three-storey houses, priced between RM1.2mil to RM2.2mil, which are 70% sold.
The residential properties are 112 two-storey superlink houses and 188 three-storey semi-detached houses.
The two-storey superlink houses selling for RM805,000 and RM1.08mil are already 20% sold.
