Hong Kong developer New World Development Co Ltd has made its maiden venture into Johor Baru, through Taipan Eagle Sdn Bhd, its joint venture company with Malaysian firm Luen Yum Development (M) Sdn Bhd.
At present, Taipan Eagle is undertaking a gated/guarded project dubbed the New World Garden, which comprises 96 luxury houses on a 4.85ha site along Jalan Masai Baru at Mukim Plentong, reported The Star.
Specifically, the project consists four three-storey bungalows priced from RM4 million and 92 three-storey semi-detached villas with a starting price of RM2.4 million. The project also features a 40,000 sq ft club house with a gymnasium, function rooms, barbecue pits and swimming pools.
“We decided to come to Johor Bahru in view of the positive development taking place in Iskandar Malaysia and the good growth prospects,” said Michael Tham, Director of Luen Yuen, adding that the project is expected to be completed in Q2 2014 and will have a gross development value of RM240 million.
“We are banking on the project’s strategic location and its easy accessibility from other parts of Johor Bahru to attract buyers.”
Moving forward, Taipan Eagle also plans to develop bigger projects like townships in the Klang Valley and Johor Bahru, noted Tham.