Leong giving his speech during the ground breaking ceremony.
Salcon Bhd’s maiden property project, rés 280 located in Selayang, Selangor, received encouraging response on its official launch and groundbreaking ceremony recently, recording a sales value of approximately RM108mil on the first day of launch.
rés 280 is a niche development strategically located in a prime area within Taman Selayang Jaya and directly fronts the Selayang-Kepong Highway.
It is easily accessible to various major townships such as Damansara and Kepong and is supported by good public amenities and infrastructure such as the Selayang Hospital, Universiti Teknologi MARA (UiTM), Selayang Mall and many more.
The project, with a total gross development value (GDV) of RM154mil, is a joint-venture project between Salcon Bhd and Mepro Holdings Bhd.
The 21-storey commercial development comprises 12 units of two-storey shop office and 280 units of Small Office Home Office (SOHO) with one level of basement car park .
Salcon executive director Datuk Eddy Leong Kok Wah said, “With an average selling price of only RM495 per sq ft, rés 280 provides dual purpose spaces for a balanced lifestyle of resort living and working space to first time owners at attractive prices. The SOHO concept also appeals to the younger generation as it suits the work-from-home lifestyle besides having complete facilities and infrastructure provided at a strategic location.”
The project is targeted to complete in 2016.
Looking forward, the group will continue to focus on managing and delivering the existing developments in hand while looking for potential acquisitions to further penetrate the property development market.
Salcon obtained shareholders’ approval in March to include property development as part of its principal activities in order to boost the group’s order books and diversify its revenue base.
The group also acquired two parcels of land in Johor with total land area of 12.72 acres for mixed residential and commercial development. The project in Johor will be a joint venture with Ecoworld Development Sdn Bhd.