PROPERTY developer KSL Holdings Bhd will be busy developing four mixed property development projects within the Johor Baru district in the next four to five years.

Its executive director Ku Hwa Seng said the company was now undertaking its flagship project Taman Nusa Bestari II in Bandar Nusajaya and the project was now in its 2nd phase of development.

He said KSL managed to sell some 2,300 residential and commercial properties in the project within two years, for a total revenue RM350mil.

Ku said the 160-acre township would have 3,500 units of mixed properties upon its completion in another four years.

''The company will be launching two new projects this year and another in the first quarter of next year,'' he said after hosting a lunch for the media yesterday.

Ku said that although the take-up rate was quite slow, KSL would continue to launch new projects as it believed that its products would be well received due to the right pricing strategy.

The two projects to be launched this year are Taman Bestari Indah in Ulu Tiram and Taman Nusa Bestari Emasin Kempas.

Taman Bestari Indah, on 714.1 acres, comprises 3,500 units of mixed properties while the number of units for the 237.8-acre Taman Nusa Bestari Emas has yet to be finalised.

Ku said KSL had recently sign a sale and purchase agreement with Ho Hup Bhd to acquire 227.75 acres in Jalan Dangan opposite Taman Nusa Bestari for RM97mil.

''We consider the purchase a good bargain and the new acquisition will further enhance our existing project in Bandar Nusajaya,'' Ku said.

Ku described the land as ''the last piece of strategically located land'' in Bandar Nusajaya.

Ku foresees that the township would ''boom'' as the area has been touted as the next growth centre in Johor.

He said the project had been approved and could start almost immediately, thus cutting on time and cost.

Ku said that the company would build 1,801 units of mixed properties which would generate RM330mil in sales turnover.

Source : The Star  30/4/2003