Hap Seng to build residences with GDV RM355mil

Hap Seng Land Sdn Bhd, a wholly-owned subsidiary of publicly listed Hap Seng Consolidated Bhd, has unveiled its new project, The Horizon Residences Kuala Lumpur.

The project has a gross development value (GDV) of RM355 million.

"To be fully completed in July 2015, The Horizon Residences is a 335-unit luxury residential development encompassing two 26-storey towers," said Datuk Edward Lee Ming Foo, Group Managing Director of Hap Seng Consolidated Bhd.

The Horizon Residences Kuala Lumpur is a stone's throw from the upcoming Tun Razak Exchange, a multi-billion ringgit world-class international financial district, while a planned Mass Rail Transit station is only 500 metres away.

Edward said the location of the project provides an opportunity for investors to take advantage of significant potential value appreciation, resulting from the infrastructure developments and investments taking place within its surrounding vicinity.

He said 40 per cent of the residential units had been sold even before the launch, with 30 per cent taken up by the locals and 10 per cent by foreigners.

"The foreigners are mainly from Asian countries like China, Taiwan, Korea and Singapore.

"Hap Seng is seeking the best contractor for the project, so that the residences built will be of high quality," he told reporters after unveiling The Horizon Residences Kuala Lumpur, here today.

Edward said those with a discerning taste and lifestyle for homes equipped with the very best in contemporary urban living, can also enjoy the facilities and amenities that have been incorporated in the Horizon Residences.

Designed to attain the Green Building Index certification once completed, The Horizon Residences Kuala Lumpur offers eight types of layout ranging from 549 sq ft to 4,316 sq ft.

Prices start from RM700,285 and the show gallery for the project is on the ground floor of Menara Hap Seng in Jalan P.Ramlee here.

"We have a few new projects on hand for this year and are looking for new land mainly in the Klang Valley and Sabah," Edward said.

Hap Seng Consolidated Bhd has a diversified business interest in plantations, property investments and development, credit financing, trading of fertilisers and the automotive sector.