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<b>Sarawak</b> Oil Palms to enter property development sector <b>...</b> Berita Sarawak - News 2 Sarawak

<b>Sarawak</b> Oil Palms to enter property development sector <b>...</b>

Posted: 09 May 2014 10:42 AM PDT

MIRI: Sarawak Oil Palms Bhd (SOP) is the latest player to enter the property development scene with a proposed self-contained township of over 200 acres along the Bekenu road at the junction of Miri-Bintulu road.

The site, which is located 40km from here, has been cleared for the launching phase of the proposed 1,500 houses, which includes 380 affordable single-storey terraced houses, according to the group.

Other units would be medium cost single-storey terraced and semi-detached houses.

The company is focussing on affordable housing as property prices have increased substantially in recent years, with single-storey terraced units costing at least RM270,000 in popular locations here.

It is understood that SOP's affordable housing units could be priced below RM150,000 to cater to the lower income group.

The integrated development would include over 100 shop lots, which are expected to be priced at least 30 per cent less than those in the city.

The development is also strategically located within walking distance to SK Kelapa Sawit No. 1, SMK Luar Bandar and Tun Abang Haji Openg Clinic.

With an existing petrol station and the Bekenu Rest and Recreation Centre, the location is already a rest stop from road users.

SOP's vast land bank surrounding the cleared site is ideal for future development of other integrated retail and leisure facilities such as wholesale hypermarket with retail space, petrol station, drive-through restaurant, schools, parks, playgrounds and industrial properties.

The company believes that the potential of the upcoming new township would make the new township an attractive investment.

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