Thursday, July 17, 2008

HK investors for business centre - The Star

Simpang Pulai set to change into a busy commercial area with the RM500mil development


Hong Kong investors have teamed up with a local developer to help transform the quiet town of Simpang Pulai into a bustling commercial area with the development of Simpang Pulai Business Centre at a cost of some RM500mil.

Hong Kong-based investment firm Jerard Co Ltd will be funding 28% of the 43ha project, undertaken by Glamour Ideals Sdn Bhd.

Glamour Ideals managing director Joseph Chin said the business centre would be built in three phases.

“The first phase of 68 shoplots is already sold out. It costs up to RM438,000 per unit,” Chin said after the project ground-breaking ceremony on Saturday.

Perak Mentri Besar Datuk Seri Mohammad Nizar Jamaluddin (centre) with Hong Kong investor Dr Ho Hau Wong (right) and Glomour Ideals Sdn Bhd managing director Joseph Chin (left) at the ground-breaking ceremony of the Simpang Pulai Business Centre development project near Ipoh.

The second phase would comprise the remaining 102 shoplots and the third phase would be a hotel and villas to be launched later this year.

The project is Jerard's second investment after a condominium project here called Damaipuri Condominium.

Director Dr Ho Hau Wong said Jerard was set up for investments in Malaysia and planned to be involved in other projects in and around Ipoh.

“I find Ipoh a beautiful place that is natural disaster-free and the people very warm,” said Dr Ho, who also gave away donations totalling RM88,000 to various charitable organisations and schools here.

Perak Mentri Besar Datuk Seri Mohammad Nizar Jamaluddin was also present to witness the groundbreaking ceremony.

Dr Ho, who plans to retire here, said Jerard was involved in two projects in the city centre - a service apartment, and hotel and villas development.

Other projects were semi-detached houses and villas in Menglembu and semi-detached houses and bungalows in Bercham, he added.

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