‘Costly land pushing developers to favour high-rise projects’

SEPANG: The steep increase in land values, particularly in the Klang Valley, has forced housing developers to build more high-rise properties instead of landed developments.

Sunsuria Bhd executive director and chief executive officer Koong Wai Seng said there were now very few landed housing developments, such as link-houses and townhouses, in the Klang Valley that were priced below RM500,000.

“Although there are still many empty plots out there, those that can be used for landed housing developments and at affordable prices are becoming scarce.

“You can see a huge difference in cost if you compare a high-rise project and a linkhouse project built on the same plot of land.

“As the result, there are very limited options for decent landed housing developments in the Klang Valley.

“Link-houses priced from RM600,000 to RM800,000 have become common,” he told NST Business at the launch of its latest project, Monet Garden, at Sunsuria City on Saturday.

The one-day event, which included property talks, was supported by the New Straits Times’ MyRumah initiative .

Monet Garden, which is the second phase of the Monet Residences development in Sunsuria City, features 360 three-storey family townhouses that will be built on a 7.6ha plot of freehold land, with prices starting at RM600,100 per unit.

With a gross development of value of RM215 million, Koong said Monet Garden would allow the residents to enjoy exclusive clubhouse facilities, including a swimming pool, wading pool, gymnasium, barbeque pit, basketball court and children’s playground and jogging track.

Meanwhile, Monet Springtime, the third phase of Sunsuria Bhd’s Monet Residences development, is expected to be launched in April next year. Masriwanie Muhamading