NUSAJAYA: UEM Land Sdn Bhd expects to generate RM1bil in gross development value (GDV) from its latest property project, East Ledang, here.

Director for strategic marketing and corporate communications Zulkifli Tahmali said the project, which would be launched on Saturday, would take five to seven years to complete.

He said phase one, comprising 139 units of link duplexes priced from RM500,000 and twin villas costing at least RM850,000, was expected to be ready by mid-2009.

“East Ledang is the first resort residential development to take place within the Iskandar Development Region (IDR),” he told a media tour yesterday.

Upon completion, the project – on 111.28ha of freehold land – would have 861 units of high-end residential properties, Zulkifli said, adding that it would cater for local upgraders, new residents of the IDR, Singaporeans and expatriates based in the republic.

He said UEM Land was banking on the project’s location, which was easily accessible from Singapore via the Second Link crossing, generous space and pricing to attract foreign buyers.

Other projects coming up in Nusajaya include Medical City, EduCity, an international destination resort, Johor State New Administrative Centre and Puteri Harbour.

Zulkifli said the spiralling prices of private homes in Singapore would push professionals and expatriates there to start looking elsewhere.

“Johor is obviously the best choice for them,” he said, adding that UEM Land had recently arranged private viewing for potential buyers from both sides of the causeway.

He said the company would take part in the City Scape Asia exhibition in Singapore in April and the Dubai City Scape expo in October to woo foreign buyers.

Source : The Star 20/2/2008