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BUSINESS

Developer Masteron maintains affordability despite high materials cost

16/06/2022 06:24 PM

KUALA LUMPUR, June 16 (Bernama) – Despite facing higher building materials cost, property developer Masteron Sdn Bhd will maintain the affordability of its KR7 Residences, its latest serviced apartment project with a gross development value (GDV) of RM208 million.

Its director Choy Kin Mann said the project commenced two years ago and the company had secured its supply of materials for its full completion.

“Prices of (building) materials have gone up by 50 per cent and this is affecting many developers,” Choy said during a press conference at the project’s launch here today.

Choy also said the company will absorb all legal fees pertaining to the sales and purchase of the units.

Prices of the units begin from RM373,500 and will be partially furnished with items worth up to RM25,000, he added.

The development comprises four blocks with a total of 484 units with the first phase slated for completion in 2025. 

Choy said the company will continue to develop more projects in Puchong, where KR7 Residences, is located.

“We have about projects worth RM3 billion in GDV and 80.93 hectares in the Klang Valley. There will be opportunities to develop for buyers and investors alike,” he added. 

-- BERNAMA

 

 


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