Hunza eyes RM300mil sales from foreign buyers
GEORGE TOWN: Hunza Properties Bhd is targeting to generate some RM300mil in sales from foreign buyers for its Alila 2 luxurious lifestyle condominium project in Tanjung Bungah.
Group managing director Datuk Khor Siang Gin told the media that the group marketed the project aggressively in Hong Kong recently.
Also present at the event were Hunza Properties founder and executive advisor Datuk Seri Khor Teng Tong and executive directors Khor Tze Ming, Khor San Leng, Lily Tan and Lee Kooi Foon.
“This is due to the size of the second home market in Hong Kong.
“Furthermore a similar size property like an Alila 2 unit in Hong Kong would cost about 10 times more.
“A 1,900 sq ft furnished Alila 2 unit is priced at RM1.9mil or about HK$3.8mil.
“In Hong Kong, it is impossible to find a fully furnished luxurious condominium unit with a sizable built-up area located in a prime location for this type of pricing,” he said.
Siang Gin spoke at a press conference at the launch of the book called Property Investment in Penang, Malaysia, published by Hunza Properties and Jade Land Properties (HK) Limited.
The book is penned by Hunza’s Tze Ming, Tan and Jade Land managing director Theresa Fok.
Siang Gin said about 60% of the Alila 2 units had been sold.
“The bulk of the overseas market sales for Alila 2 will come from Hong Kong, where the sales have been very encouraging so far,” Siang Gin added.
Hunza has been conducting roadshows in Hong Kong, China, Singapore, and Indonesia to promote Alila 2 since early this year.
On the book, Siang Gin said the book was launched in Hong Kong in July, targeting property seekers who are interested in property abroad whether for investment, living or retirement.
According to Siang Gin, this is the first and only book found in Hong Kong today that features the overview of Malaysia’s property market, focusing particularly on Penang.
“With the aim to answer commonly-raised questions by foreigners at the roadshows in Hong Kong, we decided to publish a book containing all the most comprehensive guides to owning a dream home in Malaysia to aid Hong Kong readers to understand the local property market in Malaysia.
“There are also details on owning a dream home here.
“The book also features information on the country’s geographical location, social behaviour, economy, education, medical tourism, and Malaysia My Second Home scheme.
“It also compares the properties in Malaysia and Hong Kong with discussion on investment strategies.
“It is a must-read book for all the property seekers who wish to live and invest in Malaysia and Penang,” Siang Gin added.
He added that the book, which is currently available only in Chinese, will be translated to English next year.
“We have released about 3,000 copies of the book in Hong Kong,” he said.
The group’s revenue for the 2017 financial year ended June 30 hit RM310mil, compared to RM180mil in 2016.