Business

Tuesday September 25, 2007

Naluri unit’s maiden project set to blossom

By NG SU-ANN



RM400m luxury homes in Penang ready within five years

PENANG: Naluri Corporation Bhd subsidiary Blossom Time Sdn Bhd is developing its RM400mil maiden project comprising luxurious homes on the island’s tourism belt at Batu Ferringhi.

The project on 28.3 hectares, to be completed over four phases, was expected to be completed within three to five years, executive director Kan Weng Hin said.

The first phase called Ferringhi Park, with a gross development value of RM50mil, comprised 54 three-storey semi-detached homes and three bungalows. They were completed within 15 months since work started in June last year.

Kan said the owners would enjoy free security services for the first two years.

“After this period, the owners can get together and decide if they want to continue and pay for the services,” he said after handing over vacant possession to house buyers last Saturday.

Kan Weng Hin (left) chatting with some Ferringhi Park house owners at Penang Parkroyal Resort
Kan said the second phase was a gated community comprising 32 semi-detached three-storey houses and 97 bungalows.

Registration for booking is now open and the launch expected by the first quarter of next year.

In the pipeline is Phase Three comprising low-rise condominiums and bungalows while seafront condominiums would make up the last phase, he said in an interview.

“As they will be built on hilly terrain, we want to be sensitive towards the environment.

“We will ensure that our houses suit the land instead of cutting the land to suit them,” he said, adding that trees were being identified for marking.

“Once marked, the trees will not be chopped off. If a contractor chops a tree, he will be penalised about RM1,000 per tree,” he added.


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