GDV of RM3 Billion in Sungai Petani

Sungai Petani. Interested to buy a property there? My wife and I studied there for 2 semesters of our MBA programme until the UUM’s centre moved into the Kulim High Tech Park in Kedah. The last time I went into Sungai Petani was to meet a developer who had projects in Kedah. It has changed. Instead of the rows of shophouses without any occupants, every row has been transformed. To say that it has become KL is gross exaggeration but it has really become more alive.

So, when I come to know about this piece of news about OSK Property Holdings Bhd planning up to RM3 Billion worth of properties in Sungai Petani, I am quite interested to just follow what would be the potential developments be. The RM5 billion GDV would include 5,0005,000 units of landed, high-rise and commercial properties. It will be developed on a 405ha site which is part of Bandar Puteri Jaya project. The first of this RM3 Billion GDV would be a RM300 million shopping mall and 400 units of landed properties with a RM240 million GDV to be launched next year. The mall would be completed in 2016 and would have a one million sq ft of gross built up area. With regards to the Bandar Puteri Jaya, OSK has built 7,000 units of residential and commercial properties within it with an approximate GDV of RM1.2 Billion since 1999.

I think this piece of news would be good for people who would like to buy into Sungai Petani. In fact, if you really drive, it is a mere 20 minute from the Penang bridge, like what I did for every weekend for 8 months many years ago. Think about it, landed properties which are much bigger than the typical terrace houses in Penang and yet perhaps 40% cheaper? Of course, you can also buy Batu Kawan but for your information, Batu Kawan will only have IKEA by 2020 while Sungai Petani’s mall will be ready in 2016.

written on 27 June 2014

Next suggested article:  IKEA and Batu Kawan – buy now?


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