News - Year 2007

 

PRESS RELEASE
4 April 2007

 
UM LAND BERHAD DOES IT AGAIN – DELIVERING AZALEA HOMES
8 MONTHS AHEAD OF SCHEDULE
 
 
Efficiency and competency seems to be the name of the game for UM Land as, once again, they managed to deliver houses to purchasers 8 months ahead of schedule, for the second time – after successfully delivering “Mezza” homes last November, 8 months ahead of time, as well.
 
The early delivery of “Azalea”, a cluster of double-storey houses in the township of Seri Austin in Johor and the fact that it is not the first time is “an assurance of our commitment to strive towards excellence and continuous focus on innovation, quality and deliverability of homes of distinction to all our purchasers,” said Director Operations of UM Land Berhad, Zulkifly bin Garib.
 
Earlier, during a ceremony to celebrate the successful delivery progress of “Mezza” homes, the Datuk Bandar of Majlis Bandaraya Johor Bahru, YB Dato’ Mohd Naim bin Nasir was quoted as saying that he is delighted that Dynasty View Sdn Bhd is one of the exemplary developers who are delivering good quality and innovatively designed homes earlier than expected.
 
Developed by Dynasty View Sdn Bhd, a wholly-owned subsidiary of UM Land Berhad, “Azalea” features 363 units of 18’ x 65’ double-storey terrace houses, available in three types; Type A with built-up area of 1,543sq ft and priced from RM169,800, Type B with built-up area of 1,653sq ft priced from RM177,800 and Type C with built-up area of 1,547sq ft priced from RM169,800. Successfully launched in November 2005, some 80 per cent of total units have been sold to date.
 
Besides offering larger build-up and live-in space, “Azalea” also boasts a unique roof terrace feature where one can relax and unwind under the morning sun or bright moonlight. Larger space provides for larger and growing families to live comfortably, as well as allowing home owners to design and create individual homes for an enhanced lifestyle. All units come with 4 bedrooms and 3 bathrooms with a double car porch.
 
Seri Austin is an outstanding township that is focused on delivering innovative and competitively priced high-quality homes amidst well-planned greens and surroundings within the vibrant Tebrau district.
 
Seri Austin is conveniently accessible from Tebrau Highway and is just 20 minutes’ drive from Johor Bahru city centre. It will also be accessible to the North-South Highway via Bandar Dato Onn by the end of this year.
 
Zulkifly also added that “For the years 2007 and 2008, UM Land has lined up 3 high end condominium developments, all within prime locations in the Klang Valley. This will be complemented by launches in its 3 township developments in Johor and Selangor of which two are located within the Iskandar Development Region (IDR). Local and foreign buying interests are likely to be spurred by the recent liberalization of non-resident property loans, abolishment of the real property gains tax and relaxation of FIC regulations.”
 
OSK Research further added: “We envisage UM Land to register double digit growth in the next few years given the strong contribution from its township developments and upcoming high-end condominium projects with combined GDV of RM963 million. The Company’s stock is still greatly undervalued, trading at 29% discount to its net assets per share of RM3.33. The Company’s revised net asset value is estimated at RM4.47/share.”
 
UM Land stock price closed at RM2.35 yesterday, up 21 sen.
 
To feel and enjoy the lifestyle of the development and the variety of layouts and designs of its properties, prospects may visit the SERI AUSTIN Sales Gallery & Show Village daily from 9.00 am – 5.30 pm and 10.00 am – 5.00 pm on public holidays. For further enquiries and information, please contact 07-354 1111

 

 

 
 
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