The Edge – Thursday, 18 August 2011
Trinity Group Sdn Bhd may sell the third phase or Tower C of the Z Residence condominiums in Bukit Jalil, which will be launched tomorrow, through balloting. Managing director Datuk Neoh Soo Keat said, “People queued overnight here for the last preview sales launch [in June] so we will decide there and then [how to sell the units].”
“The first two phases of the RM500 million condo project, Towers A and B, featured 590 units priced at an average RM360 psf. They were sold out in two weeks following the preview sales in early-June, translating into a take-up of over 50% for the entire project.
Tower C will feature 281 units with built- ups ranging from 1,302 to 1,407 sq ft and prices between and RM650,000, or RM390 to over RM400 psf.
“Our mechanism is ready. We have the queue numbers and the balloting system in place. So in the event [the turnout] is over- whelming, we might prefer to do balloting,” he said at the project preview yesterday.
“But if we can cope with the crowd, then we will sell it on a first-come first-served basis so we can provide better service to our buyers.” He said the company will judge the potential turnout by the number of people queuing outside its sales gallery this evening or tomorrow morning.
The company has firmed up prices for the final block of condos, which will contain 265 units, but its launch will depend on sales this weekend, said Neoh.
The Z Residence will comprise four towers of at least 26-storeys on a 2.7ha freehold site.
Trinity Group’s project, Kiara Resources Sdn Bhd’s 1,060-unit Kiara Residency and Exsim Development Sdn Bhd’s unnamed four-block condo projects have faced protests from nearby Bukit OUG Condominium residents in the past two months.
Residents were concerned about possible landslides arising from work on the slopes, the high-density nature of the developments which may cause traffic congestion in the area, and pollution from construction. In response, Trinity Group has proposed to cut the slope at their site a metre at a time until it is lowered to 9m from 23.5m to improve slope stability.
The company will also build an 800m road costing RM3 million to alleviate traffic congestion in the area and take measures to reduce pollution during construction.
The developer is targeting a further RMl.33 billion worth of launches over the next two years, with residential and commercial projects earmarked in Melawati, Ampang, and Bandar Putra Permai in Seri Kembangan, US’ 19 in Subang Jaya and Bukit Antarabangsa in Hulu Kelang, Selangor.
“The company plans to build a condominium on its 1.2ha freehold tract in Melawati with an estimated gross development value of RM180 million, said Neoh.
However, he declined to reveal further details about the other developments in the pipeline, except that the projected GDV of the Bandar Putra Permai project is RM300 million; the USJ 19 project in Subang laya is worth 200 million and the Bukit Antarabangsa project is worth RM700 million.
