MELAKA-based property developer Teladan Setia Group Bhd is eyeing to roll out new developments valued at approximately RM1.04 bil in gross development value (GDV) this year.
The developer is offering a variety of residential projects, including high-rise serviced apartments, upscale gated and guarded (G&G) townships and low-cost residences.
“Since our formation in 1997, we have completed 20 projects valued at an aggregate GDV of RM2.12 bil,” said Teladan Setia managing director Richard Teo Lay Ban.
“This year alone, we plan to launch RM1.04 bil worth of residential projects as we believe the market is poised for a turnaround. Looking at Melaka specifically, the state’s tourism sector is set to rejuvenate and in turn, the purchasing power of the locals.”
Other than that, Teladan Setia’s maiden development in the Klang Valley is scheduled to launch in 2022.
The project is a two-towered serviced apartment in Seri Kembangan, Selangor, with a GDV of RM574.5 mil.
The development is situated opposite the Serdang KTM station and is within walking distance to The Mines Shopping Centre.
“The time is right for Teladan Setia to venture out of our stronghold in Melaka. After having established a solid brand presence in our home state, we want to broaden our reach to capitalise on other locations that offer even higher growth prospects,” remarked Teo.
“We are confident in the sales conversion of this project given its accessibility to public transportation and a shopping complex. On top of that, the serviced apartment also has a stunning lakeside view.”
The developer is also expected to launch phase 1B of Taman Bertam Heights, a G&G township in Melaka Tengah with a GDV of RM242.7 mil in February 2022.
This project is made up of two-storey terraced houses and two-storey semi-detached houses and the project’s per-unit selling price ranges from RM500,000 to RM750,000.
Other than that, Teladan Setia has a couple of affordable housing projects in Melaka on the horizon. This is in line with the developer’s goal to serve the masses while highlighting the importance of maintaining a healthy supply of homes to the full spectrum of the population.
With incentives such as the Housing Credit Guarantee Scheme for gig workers as well as the allocation for low-cost homes under Budget 2022, Teladan Setia opines that the affordable housing market will enjoy a successful year.
According to Teo, by and large, the outlook of the property market in 2022 is positive as it sets to rebound in line with the national economy.
“Besides that, the overnight policy rate is expected to remain at the all-time low of 1.75% for at least the first half of the year. This bodes well for home buyers as they get to enjoy low borrowing rates that will, in turn, drive demand for properties,” Teo concluded. – Jan 26, 2022
