Iskandar bungalow lots sell like hotcakes

Ten pre-selected bungalow lots in Leisure Farm Resort, Iskandar were snapped up, with more than 30 bids received.

“We are overwhelmed by the strong reception,” said Lee Seng Huang, Executive Chairman of Mulpha International Bhd, the parent firm of the project’s developer, Leisure Farm Corporation Sdn Bhd.

Successful bidders clinched the units by paying a 10 to 15 percent premium on top of the reserve price, which ranges from RM2.03 million to RM6.93 million or RM115 psf to RM150 psf.

According to The Star, Malaysians contributed 50 percent of the RM50 million total sales, while the remainder came from foreign buyers.

According to Leisure Farm Corp, demand for the project surged during the first half of the year, with land prices rising by 40 to 70 percent depending on lot location and topography.

Moving forward, the company plans to launch an additional 57 units of canal-fronting bungalows and eco-themed semi-detached homes in Bayou Creek, Precinct 7B by October.

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