Country Garden @ Danga Bay targets full take-up by end-2017

JOHOR BAHRU: Country Garden Holdings Co Ltd (Country Garden) is looking to sell all the remaining 2,000 high-rise residential units at its Country Garden @ Danga Bay development in Johor by end-2017, said its sales executive Lee Yi Shen.

Sitting on a 57-acre commercial site, Country Garden @ Danga Bay is the company’s first development on its own outside China. The company is one of the largest property developers in China.

The development consists of a shopping mall, retail lots and 9,000 units of high-rise residences that were launched in 2013 with a gross development value (GDV) of RM18 billion.

About 7,000 units or 78% have been sold to date, Lee told TheEdgeProperty.com during a study tour of the project organised by the Real Estate and Housing Developers’ Association Malaysia (Rehda) on Oct 12.

In his introduction, Lee said most of the buyers are from Singapore and China, which make up 30% of the total number of buyers, while another 20% are local buyers. The balance are buyers from Taiwan, Indonesia and Hong Kong.

“There are seven unique selling points for these condominiums. One of the attractions is the three commercial streets located in the vicinity of these units,” he explained, citing that these commercial streets will provide convenience to the unit owners.

“The other selling points are a free membership clubhouse for all the residents, an infinity pool, a 400m-long bay, docks for yachts, outstanding green features and a sky garden on level 7.”

According to Lee, the smallest condominium unit in the project is a 1-bedroom unit with a built-up area of 407 sq ft while the largest unit is a 3 + 1 bedroom unit with a built-up area of 1,474 sq ft.

He added that the price for these units range from RM450,000 to RM1.8 million per unit. “The project is expected to be completed by the end of next year.”

Meanwhile, he pointed out that the shopping mall in Country Garden @ Danga Bay, which has not been named yet, is also looking for a buyer.

“The mall will offer 70,000 sq m of retail space. It will be maintained by Country Garden but we are also looking for a buyer, that is why the mall does not have a name yet,” he said.

This story first appeared in TheEdgeProperty.com pullout on Oct 21, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.