Business

Friday March 6, 2009

I&P plans incentives for buyers of Canting 2


KUALA LUMPUR: Property developer Island & Peninsular Bhd (I&P) is confident its Canting 2 residential project, to be launched in May, will receive positive response, said group managing director Datuk Jamaludin Osman.

I&P would offer various incentives to attract buyers for the Canting 2 development, which is the latest phase of its Alam Impian mixed development township in Shah Alam, he said.

“Despite the current economic downturn, we are still optimistic. We will be providing a lot of incentives for purchasers to buy our property,” he said after a memorandum of understanding (MoU) signing ceremony with Universiti Teknologi Mara (UiTM) yesterday.

Island & Peninsular Berhad group managing director Datuk Jamaludin Osman

The incentives I&P has for a number of its projects include free legal fees, free stamp duty on transfer and low down-payments.

Jamaludin said response to Canting 2 would improve once the Lebuhraya Kemuning-Shah Alam highway was completed later in the year.

“The highway when completed will link the township to the KESAS highway and surrounding areas and make Alam Impian more accessible,” he said.

Canting 2 comprises double-storey terrace homes, targeted primarily at buyers from the surrounding area who are looking to upgrade.

Located on 1,235 acres of freehold land, the development of Alam Impian began in 2006.

To date, three phases have been launched - Canting (double-storey terrace), Tinta (double-storey semi-D) and Nukilan (double-storey terrace).

About 262 homes have been sold so far.

Homes in the three phases ranged from RM330,000 to RM632,784.

Alam Impian will have a gross development value of RM4.5bil when completed.

Meanwhile, the MoU between I&P and UiTM will see the students from the university’s arts and design faculties showcasing their works at Alam Impian’s art pavilion and amphitheatre.

 
I&P :  [Stock Watch]  [News]


For latest Bursa Malaysia indices, charts and other information click here

  • E-mail this story
  • Print this story