SHAH ALAM (Jan 16): Crest Builder Holdings Bhd is optimistic about achieving its construction order book target of RM500 million this year, said managing director Eric Yong Shang Ming (pictured).
He said there were still potentials for mid- to high-range properties.
“For the lower end, the market is currently sluggish but is expected to pick up in the second half of the year,” he told reporters at the launch of the Two-Riffic Bonanza Lucky Draw Campaign at The Greens@Subang West sales gallery here last Friday.
The Greens is a freehold residential development comprising 646 condominium units developed on 2.83ha with a total gross development value of RM400 million.
He said prior to the launch, Crest Builder had obtained a 50% take-up rate for the first of the two phases of development.
“We expect the public to react positively to the property as there are still opportunities, particularly in the range of RM500,000 to RM800,000.
“The target market for the condominiums are first-time homebuyers and young executives,” he said.
The condominiums are available in eight different types of layouts from three bedrooms, terrace units to penthouses with built-up ranging from 915 sq ft to 1,830 sq ft.
The units are priced from RM568,800 and the expected completion date is in June 2018.
On future plans, Yong said, Crest Builder would develop its transit- oriented development of residential and commercial units in Dang Wangi in the second half of 2017.
“We will also be looking to launch an office building and three residential towers in Jalan Ampang, Kuala Lumpur, via a joint venture with [the] Malaysian Rubber Board in 2018,” he said.
Crest Builder is principally an investment holding company and has a strong foothold in the local construction industry.
This article first appeared in The Edge Financial Daily, on Jan 16, 2017. Subscribe to The Edge Financial Daily here.