Hua Yang to launch RM874mil properties in Seberang Prai

GEORGE TOWN: Hua Yang Berhad plans to launch RM874mil worth of residential and commercial properties in Seberang Prai over the next two years.

Hua Yang assistant general manager Tony Ng said that the number of units to be built totalled 1,930 over the next two years.

“Around Chinese New Year 2017, we will launch the first phase of Meritus Residensi comprising 480 serviced apartments and 15 retail shops along Jalan Baru, with a RM220mil GDV.

“The RM104mil second phase, comprising 150 residential and commercial properties, is being planned for launching in 2018.

“The Meritus Residensi project is located on a 3.4ha site (8.6 acres),” Ng said at a briefing to the media.

The Meritus Residensi completed in 2020.

Besides Meritus Residensi, the group also plans to launch RM550mil worth of projects in Bukit Mertajam town and Juru.

“These are largely high-rise residential properties with some commercial components.

“The Bukit Mertajam project, comprising 700 residential and commercial properties on a 1.98ha site (4.9-acres), to be launched in mid-2017, will have a RM300mil GDV.

“The Juru project, comprising 600 residential and commercial properties on a 3.8ha site (9.5-acres), to be launched in 2018, will have a RM250mil GDV,” Ng said.

Hua Yang now has a total of 134ha (331.2acres) of undeveloped landbank in the northern region, with a potential RM1.5bil GDV.

Meanwhile, Hua Yang chief executive officer Ho Wen Yan said that leveraging on Hua Yang’s experience in the property sector that spanned close to four decades, coupled with its expertise in delivering innovative, quality and affordable homes, the group was confident that its expansion into the Penang property market would augur well for the group.

“We believe that Meritus Residensi, given its strategic locations and facilities that cater to the contemporary urban lifestyle, will be well-received by first-time home buyers as well as those who are looking to upgrade,” Ho added.

Today, Hua Yang, with a 38-year history, has developed over 17,382 properties worth RM3.5bil in the country. is expected to be