The Kuantan address
New Straits Times, Monday, July 29, 2002
Nicholas Mun

In time, this will be the residential address of Kuantan, Pahang. Taking shape on 136 acres of leasehold land adjacent to the Istana Abdul Aziz, Bukit Istana will be Kuantan's equivalent of Kuala Lumpur's Damansara Heights - an up-market low-density residential development comprising 220 bungalows and 298 semi-detached houses targeted at the upper segments of the state's house buying market.

Undertaken by PJD Holdings Bhd's subsidiary Bindev Sdn Bhd (BSB), Bukit Istana was first launched in 1997 where a batch of 51 units comprising both bungalows and vacant plots were released into the market. To date BSB has opened for sale a total of 119 units of which 40 per cent have been sold finding its target market of professionals and top level management coming from the capital of this east-coast state.

PJD Management Services Sdn Bhd senior general manager of marketing and operations Lim Lian Seng said the project has attracted the more discerning buyer of Kuantan's property market.

"They appreciate the value of the location that's next to the palace and the nature of the development that offers buyers the opportunity to have a home in a well-planned environment, something Kuantan has lacked until now," he said.

Lim pointed out that up-market developments in Kuantan tend to be a little haphazard. According to him developers were unable to offer buyers a well-planned and secure environment due to the smaller parcels they work with. As a result of this, such projects tend to be a hodge-podge of semi-dees and bungalows without any semblance of planning.

As part of this move to create such a residential scheme, BSB will be undertaking the maintenance of the recreational areas and playgrounds and providing security for the residents for which a maintenance charge of RM80 per month will be levied.

In addition to this, BSB is selling 30 per cent of the bungalow component on a land and building basis while the remainder 70 per cent are sold as plots.

"We try to follow this 70:30 ratio, but having said that, we are flexible in meeting the needs of buyers. Our rationale for conducting our sales this way is to ensure the presence of some completed units as the development progresses.

If we just sold the land alone, the development may look bare and unkempt as buyers of bungalow plots are only required to commence construction of their houses within three years of receiving vacant possession of their parcels," he explained.

Whichever option a buyer takes, BSB allows the flexibility to choose from the nine bungalow designs available in plot sizes that range from 6,236sq ft to 8,774sq ft.

Featuring four single-storey bungalow designs with built-up areas ranging from 1,761sq ft to 2,870sq ft and five double-storey versions ranging from 2,167sq ft to 3,695sq ft, these houses carry a value of approximately RM120psf. Factor in a land cost that has been pegged from RM18psf to RM22psf, prospective buyers are looking at an overall price tag that ranges from RM336,000 to RM707,000.

As an added incentive, BSB is offering an easy payment scheme for purchasers of its bungalow plots. Under this scheme, buyers who are not obtaining financing for the purchase can pay via an interest-free installment plan over two-and-a-half years. Buyers of both the land and building however, can look forward to an easy down payment scheme where they are only required to pay RM8,000 upon signing the sale and purchase agreement.

Prospective purchasers looking for smaller landed properties can consider the 298 double-storey semi-detached houses that are scheduled to be launched by the end of this year.

Although the selling price for these houses have not been finalised yet, these semi-dees with plot dimensions of 50ft by 80ft and built-up areas starting from 2,000sq ft will carry European design elements that will be complemented by similarly-inspired recreational areas.

Bukit Istana will also feature a small commercial component of 20 two- and three-storey shop-offices for the convenience of the residents. Lim said the offices for instance are designed to cater to professionals living in Bukit Istana who want to work close to home.

"These suites will be ideal for professional firms that do not require high human traffic. In fact a number of purchasers of the bungalows have already expressed their interest in buying them," Lim said, adding that construction is expected to commence by the end of this year.

Again no pricing has been set as yet, and for that matter, the shop-offices may not even see an official launch depending on the response from the purchasers of the residential components. Lim however added that prospective purchasers can register their interest and view the layouts and designs.

For more information, please call 09-568 0870 or 03-9057 9992.