31 October 2014

Crest Builder goes high-end at Batu Tiga.

Crest Builder Holdings Bhd, which has been developing its township in Batu Tiga, Selangor for the past nine years, has saved the best for last. The construction company-cum-property developer will launch the 3 Stones serviced apartments, its most premium product there, by year’s end.

The 3 Stones development, fifth and final phase of the township, will have two blocks totalling 646 apartments and an estimated gross development value (GDV) of RM330 mil. The 2.83ha development is expected to be completed in 2019 and the company anticipates a gross profit of 25% from the project’s GDV. The units will be priced from RM550 psf.

Crest Builder executive director Eric Yong Shang Ming tells FocusM the “medium-luxurious” apartments will have upward price-movement potential. “It will be a good investment,” he says, pointing out Tropicana Corp Bhd’s similar project Tropicana Metropark in nearby Subang Jaya is priced at above RM800 psf.

“We are aiming for the medium high-end market with 3 Stones. Thus, we see a pricing advantage and a long-term investment opportunity for buyers,” he adds. Yong says property prices in the area have soared. When the company launched the first phase, Alam Idaman, it was priced at around RM200 psf – now about RM300 psf. Alam Sanjung was launched at about RM400 psf and has appreciated to around RM500 psf.



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