Teladan Setia Group Berhad, the Melaka-based property developer, is eyeing to roll out new developments valued at approximately RM1.04 billion in Gross Development Value (“GDV”) in 2022.
“This year alone, we plan to launch RM1.04 billion 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,” said Mr Richard Teo Lay Ban, the Managing Director of Teladan Setia.
The Group is offering an array of residential projects encompassing high-rise serviced apartments, luxurious gated and guarded (“G&G”) townships, and affordable homes. The Group’s maiden development in Klang Valley is in the pipeline of new launches for 2022. The project is a two-towered serviced apartment located in Seri Kembangan, Selangor and is estimated to be worth RM574.5 million in GDV. The development is situated opposite Serdang KTM station and is within walking distance to the Mines shopping centre.
“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. 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,” said Mr Richard Teo.
Teladan Setia will launch phase 1B of Taman Bertam Heights in February 2022, a G&G township in Melaka Tengah with a GDV of RM242.7 million. This township consists of 2-storey terraced houses and 2-storey semi-detached houses, the per unit selling price of the project ranges between RM500,000 to RM750,000.
“By and large, we are positive with the outlook of the property market in 2022 as it looks set 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,” Mr Richard Teo concluded.