Capital value of Palm Palladium up by 50%

The capital value of Harta Intan Group's Palm Palladium in Minden Heights on the island has increased by over 50% in about 24 months.

Group director Amir Hussain Abdul Majid said the recently-completed 28-storey property was now selling at RM300 per sq ft, compared with RM200 in 2006 when it was first launched.

Located near the Bukit Jambul Golf & Country Club, Palm Palladium has 134 units, of which 123 units, or 90%, are sold.

The built-up areas of the units ranged from 1,150 to 2,400 sq ft.

“The project, now waiting for its certificate of fitness, is testimony that if the development is strategically located, its appreciation will be fast,” Amir told StarBiz.

He said the group was now revising the selling price of several of its projects for this year.

“Since the cost of construction has increased by about 30%, we need to adjust our selling prices for the new launches.”

Among the new launches that will bear the revised pricing are the 18-storey Pinhorn Suites, Taman Livingston in Parit Buntar, and Taman U 16 in Shah Alam.

The Pinhorn Suites was originally priced at about RM350 per sq ft, while the Taman Livingston and Taman U 16 houses at about RM123 per sq ft.

Established in 1996, the group has to date completed over 2,000 commercial and residential properties on the island and mainland with an estimated gross sales value of about RM180mil. - By DAVID TAN (The Star)

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