Hunza Prop sets sights on foreigners

The developer wants to promote the high-end 'Alila 2' residential project in Penang to buyers from Europe, Hong Kong, South Korea, Indonesia and Singapore

Hunza Properties Bhd (Hunza) plans to launch a high-end residential project on Penang island in 2010 to capture demand from foreign buyers.

The new project, codenamed "Alila 2", is sited on a 4ha plot in Tanjung Bungah. It will be promoted to buyers in Europe, Hong Kong, South Korea, Indonesia and Singapore.

Hunza executive chairman Datuk Khor Teng Tong yesterday said the project, which is expected to carry a development value of between RM230 million and RM280 million, will be located next to its current "Alila" tropical-garden development.

It will be carried out with joint-venture partner Nilai Ariff Sdn Bhd.

"We want to continue with our strategy of tapping the strong international demand for iconic properties," he told a media briefing in Penang.

Alila 2 will comprise a mix of landed properties and condominiums and is likely to be more expensive than the existing project which is almost sold out.

It will also offer value-added services like concierge and limousines as part of the project.

Hunza's undeveloped landbank in Penang currently totals 200ha in Bertam in Seberang Prai.

"We are looking to expand our landbank in the Klang Valley now that our Mutiara Seputeh project is almost sold out. We want to continue maintaining our presence there," Khor said.

Hunza is likely to announce a land acquisition in the Klang Valley soon, he added. - By Business Times


May 22, 2008 at 8:51 PMAnonymous

I will be really angry if the building of this future so called "Alila" 2 interferes with our current "Alila" Horizons views and am also concerned that there will be noise and dust polution that will also impose upon us current "Alila" residents. Just to let Hunza know that I for 1 will set up an action committee to oppose ANY development that "SPOILS" what we have just all bought into!!! I am a U.K. citizen and I will be passing on all the info I have to other potential ex pat buyers so Hunza needs to act in ABSOLUTE kind regard and consideration of neighbouring residents!!

May 22, 2008 at 9:18 PMAnonymous

I think it is better to post your comment above on the Alila Horizon section so that all Alila residents and potential buyers will look into it...