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BLand To Launch 3rd, 4th Phases Of Jesselton Villas With RM1 Bln GDV

Last update: 12/10/2017GEORGE TOWN, Oct 12 (Bernama) -- Berjaya Land Bhd (BLand) is set to launch the third and fourth phases of the Jesselton Villas project, with a gross development value (GDV) of RM1 billion, next year.

BLand Senior General Manager of Properties Marketing Division Tan Tee Ming said the third phase of the project comprised 66 three-storey bungalows, while the fourth phase would have 127 units of three-and-a-half-storey super link houses.

"We have estimated a total GDV of RM1 billion for both phases, but we have yet to determine the price for each unit," he told reporters after the opening ceremony of the Berjaya Land Development Sdn Bhd's property gallery here, today.

Tan said that phase one of the Jesselton Villas project, namely the Kensington Gardens, comprising 69 freehold bungalow lots, is expected to be completed by March 2018.

He said the group had sold almost 70 per cent of the bungalow lots, ranging from 5,995 square feet (sq ft) to 9,634 sq ft, with an average selling price of RM690 per sq ft.

Tan said the Jesselton Villas project would keep the group busy in Penang for the time being, while it continued to look for more land for future developments.

"We have 18.6 hectare of underdeveloped land in Bukit Mertajam, but currently, we are focusing on completing the Jesselton Villas project before we launch any new project," he said.

Berjaya's property development division was responsible for some of Malaysia's most visible and sought-after developments, ranging from high-end to affordable residential and commercial developments, with notable addresses such as Seputeh Heights, Subang Heights, Bukit Jalil, and Taman TAR.

Berjaya has also made a significant impact on property developments overseas, namely in Vietnam, Japan and China.

-- BERNAMA