Exciting times ahead for PJ Development Holdings Group
The Edge Singapore, Monday, August 20, 2007
Laura Lee

An artist's impression of Impian Meridian, which was launched in February

Lim Lian Seng, chief operating officer of PJD Management Services Sdn Bhd - a wholly-owned subsidiary of public-listed PJ Development Holdings Bhd - sees an exciting financial year ahead for its parent company.

Armed with some RM900 million ($394 million) worth of property development projects and two spanking new show galleries in Sri Petaling and Subang in the Klang Valley that showcase its wide range of product offerings. Lim says the company is confident of the property market in Malaysia in the coming years and that the group's core business will remain in properly development.

"We experienced a good influx of foreigners buying our properties in the last few months [and] local sales have also picked up," he says. Developing properties is not an issue for us. It is finding a market for our products. We ace interested to expand our market beyond Malaysia."

Lim adds. "Singapore has been one of the catchments markets for the prop. Any projects that we launch in the Lion City garners at least 20 sales."

Sea View Tower in Penang
The group launched its Sea View Tower project during its roadshow in Singapore last weekend. Located 400m from the ferry terminal and 5km from Penang Bridge, this project is developed by PAD Eastern Sdn Bhd, a member company of the JD Holdings group.

Occupying 8,852 se m. Sea View Tower is a condominium project in the second phase of its integrated Harbour Place development in Butterworth, on the mainland across the Straits of Penang from the Penang Island. All the 312 units in the first phase called Park View Tower ¡ª a freehold, twin-tower condominium ¡ª were sold out and handed over to purchasers with the certification of fitness for occupation in October 2005.

As for Sea View Tower, Lim remarks, "We are looking at a gross development value [GDV] of RM 170 million, which will feature two blocks of freehold condos of 19 and 23 storeys, offering a total of 354 units."

He says those buying the Sea View Tower condos, which are priced from RM144,750 to RM372,800. will be paying 15% more compared with units offered in the first phase. Purchasers have a choice of Emerald Bay studio, Ruby Cove standard superior. Jade duplex and Pearl Lagoon penthouse units.

All the units enjoy three tier security (that is, 24-hour security) and have smart card access and a home security system. There will also be a satellite master antenna television system and closed circuit television.

Besides two staircases, each block will be serviced by two passenger lifts and one service lift. The first level will house the lobby, management office and 14 shops. There will be a four-level car park podium and the recreational facilities will be located on the fifth level. The condo units begin from the sixth level.

Residents of Sea View Tower will also be provided with broadband Internet access plus other common fa. facilities and services such as a community hall. cafeteria, sky lounge, launderette and childcare centre. A maintenance fee of 12 sen psi will be charged for the first year. The project, which is 70% completed, will he ready for handover to buyers by next March.

lmpian Meridian in Selangor
Lim says the company also promoted its other freehold project, Impian Meridian in USJ 1, Subang, Selangor at the Singapore roadshow. Developed by PJ Development Holdings' subsidiary, Kota Mulia Sdn Bhd, Imptan Meridian is a three in-one mixed use development with 481 units of residence suites or serviced apartments, 48 pavilion shops and 40 office suites within a 2.170-acre site.

Launched in February, the serviced apartments are priced from RM301,800 and have sizes ranging from 995 sq ft to 1,302 se ft. They come with condo facilities and a three-tier security system by Willowglen, the same security system provider for Singapore's HDB. The shop units are priced from RM1.2 million and offer generous built-up areas of 2,645 sq ft to 7,702 sq ft with 26ft of extra wide frontage. Meanwhile, the office suites are tagged from RM169,900 and have sizes ranging from 607 sq ft to 2,050 sq ft.

A total of 1,120 car parks have also been provided. Of this, 734 are podium car parks located from level one to seven, 299 are basement car parks located on two levels while the rest are open car parks.

Located behind the Summit shopping centre, Impian Meridian fronts the Kuala Lumpur-Shah Alam Expressway. It is within easy access to the Kiang Valley, KL International Airport, Putrajaya and Cyberjaya via the North-South Expressway and other major highways such as the Lebuhraya Damansara-Puchong, Federal Highway, North Kiang Valley Expressway, New Pantai Expressway and the North-South Expressway Central Link.

Coming up soon is the Subang-Kelana elevated highway and the Kuala Lumpur-Putrajaya Highway. The project is also surrounded by established amenities, restaurants, banks, international schools, colleges, medical centres, shopping complexes and entertainment outlets.

The 20-year-old PJ Development Holdings' projects span from Kedah in the north to Klang Valley in the west, Pahang in the middle and Johor down south. And with a land bank of 1,150ha. it will have a steady pipeline of development projects to fuel future growth.