The Edge Malaysia, April 17, 2002
By Thomas Soon
YTL Land & Development Bhd will launch the first phase of its multi-billion ringgit town development project on some 118ha in Sentul in May.
The project comprises a mixed development of residential units as well as commercial offices and retail outlets that are targeted to be completed over eight years. The project is estimated to be valued at between RM6 billion to RM7 billion.
The completed development of Sentul is expected to house about 50,000 residents in 7,000 condominium units. The first launch will include medium cost condominium units priced at some RM200 per square foot in Sentul East.
The project will also include some 4,000-luxury condominium units that surround over 14ha of green open spaces in Sentul West. YTL Land declines to reveal the selling price range for these units, but one official puts it at more than RM200 per square foot for the luxury units.
YTL Land managing director Tan Sri Francis Yeoh said the Sentul project would have a significant impact on the group's bottomline for the next few years. "Property development will be a core contributor to the group's revenue," he said.
Declining to reveal the price range of the condominium units, Yeoh said: "The value will take care of itself. We expect later buyers will have to pay higher."
At RM200 per square foot, the medium cost units will fetch RM170,000 for units measuring 850sq ft and RM240,000 for 1,200sq ft units. Yeoh said the luxury condo units could go up to 3,000sq ft.