SPK unit plans quality homes in Shah Alam

Malaysia Property News by Bernard Yong on Jul 11, 2007

By THE STAR

SHAH ALAM: Sharikat Permodalan Kebangsaan Bhd's (SPK) property division, SPK Homes, aims to develop quality homes at its Cahaya SPK development.

SPK head of property division Steven Lim says the company also plans to use the surrounding lush tropical area to encourage greater outdoor activities.

When fully completed in 10 years, Cahaya SPK township, on 500 acres of leasehold, will have commercial properties, schools, shop-lots and a mix of residential properties.

Lim said the RM1.2bil low-density resort township was targeted at the mid to high-end market.

SPK head of property division Steven Lim showing a show unit of Superlink Homes at Cahaya SPK in Shah Alam

"Cahaya SPK is our signature development and has been meticulously planned with great care for minor details," he said after a media tour of the project site in Shah Alam yesterday.

Phase 1 of Cahaya SPK, to be launched on July 21 and scheduled to be completed by mid-2009, will comprise 142 units of Superlink Homes, priced from RM361,000 onwards.

"We expect to sell all the units (in phase 1) within six months," Lim said, adding that the gross development value (GDV) of Superlink Homes was RM63mil.

He said 84 semi-detached linked houses with GDV of about RM55mil and 80 bungalows would be launched next month.

SPK Homes also plans to develop high-rise properties, including apartments and condominiums, in Cahaya SPK in the future.

"With the launching of this 500-acre Cahaya SPK project, we will be a major player in property development," Lim said.

Currently, SPK Homes has a land-bank of 7,500 acres, of which 6,500 are in Sungai Petani. The rest are in Kuala Lumpur, Johor and Penang.

Lim also said the RM444mil joint-venture project secured recently in Abu Dhabi by construction arm SPK-Sentosa Corp Bhd had given SPK Homes an opportunity to expand overseas.