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Bayou Bay sees RM7.8bil sales from township | BAYOU Bay Development Sdn Bhd sees the Bayu Puteri integrated township project chalking up RM7.88bil in sales upon its completion in about 18 years.
Its deputy chief executive officer Zahairi Abu said the company was the first developer in Johor Baru to offer affordable waterfront living to buyers while other developers targeted the high-end segment.
He said the project covering 2,400 acres within the Tebrau-Plentong River Basin development was divided into nine phases.
Of the total area, 1,050.49 acres are dedicated for residential de- velopment and 380.54 acres for commercial segment.
Zahairi said the project, which was already into its second year of development, would have 41,145 residential and commercial units and would, upon completion, have over 200,000 residents.
''Bayu Puteri will be the last waterfront development project within the Johor Baru district as there will be no more new developments along Sungai Tebrau,'' Zahairi told Star Business in an interview.
He said the company was banking on the pricing and location of the project between Kampung Bakar Batu and Bandar Baru Permas Jaya, about 6km from the city centre and the causeway checkpoint, to attract buyers.
Zahairi said the 652 three-bedroom apartments priced between RM107,800 and RM135,000 each had been fully sold while a second launch of 383 apartments costing RM117,800 to RM149,800 each had received good response.
He said most of the buyers were Malaysians working in Singapore, first-time house owners, and newly married couples.
Zahairi said the company was now working on phase one, launched two years ago, and covering 138 acres.
In the pipeline are 4,380 re- sidential and shophouse units, a business complex and a 200m-long river front commercial area.
Zahairi said this phase would bring in RM1.05bil in sales turnover.
He said the company had spent RM500,000 cleaning up the 26km Sungai Tebrau and would also spend RM1mil to construct the loop road which would be ready by the time the first batch of house buyers moved in by the fourth quarter of 2003.
Source : The Star 22/11/2002
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