Real Estate Sector-Property

Exclusive Interview Island & Peninsular
Demand for houses remains healthy.
Wan Nor Azura Bt Mior Abdul Aziz
Assignment on 4 March 2009

The slowdown in global economy should not cloud potential investors' decision on Malaysia's real estate sector.
 
According to Island & Peninsular Berhad (I&P)'s Group Managing Director Datuk Ir Jamaludin Osman, while people were talking about a global slowdown, there has been continuous purchase of the group's houses and lands.

"Last year we are doing fine in the sense that starting from last year people are talking about the slowdown in economy. I think we manage to sell houses namely in Alam Impian itself, Alam Sari, Bangi and also Bandar Kinrara", he said.

"We feel that there is still a demand for the houses during this time. Of course you will see some slowdown but demand is still there", he added.
 
Jamaludin spoke to BERNAMA TV in an exclusive interview on Wednesday in Kuala Lumpur. 
 
He said last year the sales revenue from its lands and houses stood at 780 million ringgit.
  
On future prospects, I&P is confident that it will maintain its revenue for this year despite the challenging economic and business environment.
 
Jamaludin said the group expects to maintain its earnings with continuous promotions and new product offerings.
 
On to its Alam Impian townhouse development, Jamaludin said Alam Impian which rests on a 494-hectare elevated land in Shah Alam, is an exciting new mixed development within a prime location.

"The sales for the Alam Impian that we have done for the past two year that 2 phases that comprising 250 units is already handed over the keys to the purchasers about one month ago", Jamaludin said.

Launched in 2006, Alam Impian is another testament to I&P constant innovativeness in township development which will offer a total of 10,000 homes for a population of 50,000 upon completion.  

Conceived on the idea of ‘Township of the Arts', the township will be akin to the largest platform for the arts with features such as installation of art pieces in designated areas, landscape and street art, graffiti walls, an art gallery, linear parks, an amphitheatre and a 12.4-hectare central town park.
 
WNA