Hunza – de­vel­op­ing Pe­nang for the fu­ture

The Sun (Malaysia) - - MEDIA & MARKETING -

DATUK Khor Siang Gin, Hunza Prop­er­ties Ber­had (HPB) man­ag­ing di­rec­tor, is fo­cused and clear about what he wants for the fu­ture of the com­pany and Pe­nang.

Be­fore set­tling down for an in­ter­view with theSun, Khor spoke to a board mem­ber briefly on the im­por­tance of high­light­ing HPB’s next big project – the Pe­nang In­ter­na­tional Com­mer­cial City (PICC) and his vi­sion for Pe­nang.

“Look­ing for­ward, my fo­cus will be on the PICC, which is lo­cated in Bayan Baru.

“The in­te­grated de­vel­op­ment will in­volve three phases and en­com­pass a mas­sive 9.4 mil­lion square feet,” Khor in­formed.

He said the name PICC was ap­proved by the state govern­ment.

The de­vel­op­ment project will in­clude the build­ing of some 3,000 units of af­ford­able houses, which will be built through­out all the three dif­fer­ent phases.

Spurred by the state govern­ment’s ef­forts in mak­ing Pe­nang an in­ter­na­tional and smart city, HPB, with the same intent, has sched­uled for com­mence­ment of work on the project to start in 2017.

Shar­ing how proud he is in the way HPB has tended to the squat­ter is­sue in Bayan Baru and solved it am­i­ca­bly, Khor ex­pressed his ex­cite­ment in be­gin­ning work on the PICC, which he says is go­ing to be an iconic land­mark for the state way beyond 2020.

The PICC is an in­te­grated de­vel­op­ment which will in­clude a com­mer­cial com­po­nent of­fer­ing re­tail shops, ho­tels, a pri­vate hospi­tal, busi­ness process out­sourc­ing (BPO) of­fices, as well as ed­u­ca­tional in­sti­tu­tions.

The mod­ern in­te­grated city will fea­ture some big brand names, ho­tels in­cluded, of which Khor pre­ferred to keep mum of at this time, say­ing “it will be an­nounced at a spe­cial and spe­cific time”.

At some RM8 bil­lion in gross de­vel­op­ment value (GDV), the PICC is slated for com­ple­tion in about five years from the time work starts.

Once launched, the prop­erty will be mar­keted by HPB us­ing mod­ern sales con­cepts and mar­ket­ing strate­gies.

Hum­ble, yet de­ter­mined like his fa­ther Datuk Seri Khor Teng Tong, Khor Jr said that HPB will be more than just sell­ing houses.

“It will be sell­ing con­cepts. The PICC will come as a plat­form to show­case HPB’s mod­ern con­cept com­mu­ni­cat­ing a place for leisure, work, a place of dwelling that is also fa­cil­i­tated with a med­i­cal cen­tre, which is cru­cial,” he said.

On the re­cent launch of Alila 2 in Tan­jung Bun­gah, Khor said the con­do­minium project boasts a green and eco­log­i­cal en­vi­ron­ment with en­chant­ing land­scapes sur­round­ing two tow­ers, lo­cated on 9.8 acres of un­du­lat­ing land where Alila Homes was first launched by HPB.

Alila 2, sit­u­ated within the spa­cious par­cel, is set to be com­pleted by the end of next year.

The sell­ing point of this sec­ond project is its low den­sity, with only 270 units built across an ex­ten­sive area.

The project also bears an aus­pi­cious char­ac­ter of­fer­ing good feng shui apart from five-star in­door and out­door fa­cil­i­ties.

It was learnt that the green­ery within Alila Homes it­self com­manded mas­sive ex­penses, to­talling some RM12 mil­lion.

“It is quite dif­fi­cult and un­likely for one to find an­other prop­erty like Alila 2,” said Khor, es­pe­cially since the project car­ries a GDV tag of RM600 mil­lion.

To date, 40% of Alila 2 has been sold.

Cur­rently wait­ing for the project to be Green Build­ing Index (GBI) cer­ti­fied, HPB is at the same time work­ing on an­other new project called Mekarsari, sit­u­ated op­po­site Ban­dar Pu­tra Ber­tam, which sits on a 32ha plot and will of­fer nearly 1,000 homes on com­ple­tion.

De­vel­op­ment will run in mul­ti­ple phases with the first of­fer­ing 253 sin­gle-storey semide­tached houses and sin­gle-storey zero-lot bun­ga­lows, in­forms Khor.

He said phase 1 of Mekarsari has a GDV of RM112 mil­lion.

The project re­cently launched in Septem­ber this year is ex­pected to be com­pleted by the end of 2018. Prices for semi-de­tached units will start from RM411,000 while zero-lot bun­ga­lows will come with a tag of be­tween RM450,000 and RM500,000.

Ground­work for this project has al­ready be­gun in mid June this year.

HPB aims to sell 70% of the units within the first six months of the launch.

With all th­ese projects to keep HPB and Khor busy, the fo­cused and for­mi­da­ble man­ag­ing di­rec­tor is all ex­cited and on lead­ing the com­pany into its next chap­ter as the de­vel­oper re­spon­si­ble in form­ing Pe­nang’s fu­ture land­scape.

Ex­te­rior of Alila 2 in Tan­jung Bun­gah.

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