PLENITUDE Bhd's wholly-owned subsidiary Changkat Kiara Sdn Bhd aims to sell 65% of its high-end residential units in Changkat Kiara worth RM90mil by next month.

The gross development value of Changkat Kiara, located in Sri Hartamas, Kuala Lumpur, is RM150mil.

Changkat Kiara deputy general manager Raghbir Singh said that since the soft launch of the project in September last year, about half of its residential properties comprising semi-detached houses and bungalows had been sold.

''We believe the target is reasonable,'' he told StarBiz, adding that the company planned to have an official launch of the luxury properties by late February or early March.

Changkat Kiara, built on a 8.5ha prime land, will consist of 84 semi-detached houses and 11 bungalows within a gated community and will be equipped with security facilities such as 24-hour street patrol and built-in house alarm system that can be wired to a central command centre, as well as optional facilities like broadband connection.

The upmarket semi-detached houses are each priced from RM1.2mil, while the luxury bungalows from RM1.9mil onwards. The residential project is to be completed by July 2005.

Raghbir said potential buyers had 10 different types of housing designs to choose from and each design took into account the different tastes and needs of the residents in terms of space, comfort and functionality.

The built-up areas of the semi-detached houses ranged from 3,400 sq ft to 3,800 sq ft, while the bungalows from 3,800 sq ft to 4,300 sq ft.

According to him, Changkat Kiara has many other unique features such as street parks decorated with special lights, benches, sidewalks, sculptures, trees and shrubs, giving buyers a distinctive living experience in a cosy, yet secure environment, suitable for singles as well as families.

''We have allocated RM1.5mil for landscaping works in Changkat Kiara to enhance the streets and walkways,'' said Raghbir.

Moreover, each junction will end with a cul-de-sac to provide privacy and there is a six-foot-high perimeter wall mounted with photoelectric beams surrounding the development to provide added security for residents.

Changkat Kiara is easily accessible by road via Jalan Duta, Jalan Kuching and Jalan Sri Hartamas, and a new road is also being constructed to connect the area to Mont Kiara.

Raghbir said Changkat Kiara was the company's first foray into the high-end property market.

''We have been a property developer for affordable houses for many years and the move into high-end property development was a strategy to improve our earnings,'' he said.

He added that the company would continue to look for land in good locations to build luxury houses for niche market.

''We know there is still good demand for such houses, especially in the Klang Valley,'' he said.

He added that freehold landed properties with well-designed houses and bungalows with individual titles were still well sought-after by the affluent.

Raghbir said: ''We see Changkat Kiara properties appealing to the rich who want to size-down to smaller homes that suit their lifestyles or successful people who want to live in modern homes with good security features.''

He stressed that Changkat Kiara was designed with three things in mind: Privacy, security and luxury.

On capital gain, Raghbir believes Changkat Kiara's capital appreciation potential is good.

''We've looking at a minimum of 5% capital appreciation per annum.

''Our properties are priced from RM355 per sq ft onwards, which are very competitive compared with other developments in the vicinity,'' he said.

Changkat Kiara Sdn Bhd's parent company Plenitude is involved in other mega projects like the Desa Tebrau Township in Johor Baru, Taman Putra Prima in Selangor, and Bandar Perdana Township in Sungai Petani, Kedah. It also operates the Tanjung Bunga Beach Resort Hotel in Penang.

Source : The Star  12/1/2004