Green Target confident of strong demand in Nilai

KUALA LUMPUR: Green Target Group Sdn Bhd, which is undertaking an integrated mix development project over a 15-acre site in Negri Sembilan, is confident that demand for its houses will be strong.

The project, with an estimated gross development value (GDV) of RM1bil, is located in Bandar Baru Nilai. Known as Mesa Hill @ Nilai, it will comprise seven blocks of serviced residences, a shopping mall and hotel on freehold commercial land to be developed over seven phases.

Construction for phase one and two are ongoing. They consist of two 23-storey apartments and a 10-storey hotel with 200 rooms slated for completion by end-2017.

The average price per sq ft for the residential portion for phase one and two is about RM400.

“Some 80% to 90% of the blocks have been sold since last year. We hope to push the selling price to RM500 per sq ft in our subsequent phases to be launched over the next three years. We foresee the potential in Nilai as it has a population of 400,000. There will be demand,” Green Target CEO and managing director Datuk Tan Hong Lai told Star Biz on the sidelines of the launch of the project at the KL Performing Arts Centre.

The guest-of-honour at the event was Star Publications (M) Bhd chairman Datuk Fu Ah Kiow. After the launch, guests were treated to a musical.

Green Target expects to launch phase three early next year. The project will also feature a shopping mall with a two-storey retail podium. Construction of the mall, to be called Mesa Mall which will have a GDV of RM250mil to RM300mil, is slated for completion in mid2016.

Mesa Mall will have a built-up area of 500,000 sq ft and net lettable area of 310,000 sq ft. It could generate rental income of up to RM20mil per annum, Tan said, adding that the company would not sell the shopping mall.

Green Target is known for the development of the Greenhill Residence in Shah Alam about eight years ago.

Another project by Green Target – the Smart 228 Industrial Series – offers three-storey and two-storey factory units priced from RM2.6mil to RM3.9mil.

“We have RM3bil to 4bil in projects coming up. They will be outside the Klang Valley which we will announce early next year,” Tan said.

(From left) Green Target executive director Datuk Amir Arif Kamarudin, Tan and Fu looking at a model of the MesaHill@Nilai serviced apartments during the event.