SM LAND  TO  LAUNCH  NZX  COMMERCIAL  CENTRE

Yap Yew Jin of the Sun daily writes that SM Land Sdn Bh. is launching the second phase of the NZX  Commercial Centre project in Ara Damansara in March 2008. The project comprises of 34 units of 3-storey semi-dee shoplots,   24 units of 5-storey shoplots and a 150 room boutique hotel. The shoplot units size range from 30 feet by 70 feet to 25 feet by 85 feet and are priced from RM2.5million onwards.

The first phase of NZX Commercial Centre development have been well received by the public since it was open in January 2008, with visitors averaging about 3,000 to 4,000 a day. The management hopes to continue  drawing in the public by organizing year round events at the centre. Within the project is Niu Ze Xin, an open concept pedesterian mall, featuring Malaysia’s largest covered boulevard and the first ever climate control system. The 300 kiosk available have been tenanted out between RM1,500 to RM1,800 per month.

SM Land director,  Eric Ong said that the second phase units in the development project have  low density nd come with an al-fresco design. It has a gross development value of RM200 million and is targeted to be completed by 2011. About 20% of the units offered have been taken-up.

Off the group’s immediate future plans, Ong said that it would be developing a high-end residential project comprising of 70 units of semi-des in Serdang. Also in the pipe-line is the Bukit Jalil development project where it includes  a hotel, retail outlets, a shopping complex, offices and serviced suites with a gross development value of around Rm1 billion.

The group will be focusing on niche projects  in the future. It has undeveloped landbanks in prime locations  in the Klang valley and in Penang.  SM Land would be embarking on an unmarked bandoned project located in the golden triangle once negiotiations are finalised.