News: Sime Darby's Nilai Impian Township progressing steadily
While the prices of landed properties near the urban areas of Klang Valley have greatly increased, Sime Darby Property's (SDP) Nilai Impian presents itself as a practical alternative due to its steady price growth, according to a report by the Star.
"While city-centric people may be quick to dismiss Nilai, the reality is that the area has been growing steadily," said Fahariah Abdul Wahab, Director of Henry Butcher Lim & Long Sdn Bhd.
With the rapid pace of development in the growth corridor and the fringes of Greater KL, Nilai Impian is following suit.
The 1,263-acre township started in 1997, with 29 percent reserved for commercial developments, 33 percent for industrial and 41 percent for residential projects.
Zulkifli Tahmali, Head of Property at SDP, said that he is sure that things will get better for Nilai Impian, which has a gross development value (GDV) of RM1.4billion.
He highlights that the township is in the midst of major employment centres and mature developments such as Cyberjaya, Putrajaya, KLIA and other townships.
"With the LEKAS highway providing better access, the area will only become more vibrant. This is the beginning to (what we believe will become a popular) area," noted Zulkifli.
So far, there are five projects launched in the township namely the Impian Avenue, Medina, Iluna, as well as Davina 2 and 3. All of these developments have witnessed a 75 percent take-up rate compared with the average 50 percent for areas like this.
"The prices (of the property) have not gone up much. Therefore, there are not much investor interest. But I think the area has great potential," said Zulkifli, adding that Sime Darby is the only developer working on a development of this magnitude in the area.
"We need to develop this kind of places because these are our bread and butter projects," explained Zulkifli, adding that "even if the economy is bad, we're still be there because this is what people would need."
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