PUCHONG: Bolton Bhd expects its commercial development project, The Wharf at Taman Tasik Prima here, to generate a gross profit margin of 20 per cent, its executive chairman Datuk Azman Yahya said today.
TOTAL LIVING CONCEPT: Azman Yahya and Chan Wing Kwong, Bolton executive director, talk about the commercial and lifestyle property development at Taman Tasik Prima, Puchong
TOTAL LIVING CONCEPT: Azman Yahya and Chan Wing Kwong, Bolton executive director, talk about the commercial and lifestyle property development at Taman Tasik Prima, Puchong
The Main Board market-listed property developer this morning unveiled The Wharf, envisioned to be a vibrant one-stop lifestyle cum business destination in Puchong upon full completion in 2015.
Spread over 15-acres of leasehold land, The Wharf, which has a total gross development value (GDV) of RM450 million, comprises 32 blocks of three-storey boutique showroom stratified offices, known as BizWalk, 1,002 units of serviced apartments, 64 units of terraced suits and a retail mall with a net lettable area of 302,739 sq ft.
“The serviced apartments, which will be launched in February next year, have a GDV of RM300mil while the boutique showrooms and offices, to be launched on Sunday and scheduled for completion in the third quarter of 2013, have a GDV of RM50mil. The retail mall, to be completed in early 2013, has a GDV of RM100mil,” Azman said during the media briefing.
The 345-acre freehold Taman Tasik Prima mixed development is built around a 200-acre natural lake. Dubbed Puchong’s premier lake-view residential and commercial development, it is themed a ‘resort style’ living environment which will feature amenities such as an open park in each residential precinct, primary and secondary schools, a shopping mall, a police station and a multi-purpose hall.
To date, more than 1,500 units of properties have been sold with some 90 per cent of the units completed and handed over. With 20 acres left for development at Taman Tasik Prima, Bolton’s development plans include approximately 3,000 units of terraced houses, serviced apartments, shops and a retail mall with a net lettable area of approximately 250,000 square feet. These properties will provide Bolton with a GDV and gross development profit of about RM800mil altogether over the next seven years.
Source: themalaymail
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