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.