M'sians snap up China developer's Selangor project

MALAYSIAN home buyers appear to have embraced Chinese developer Country Garden Holdings Co Ltd's Diamond City project in Semenyih, Selangor, with four out of five purchasers being locals. The take-up comes amid reports that the Hong Kong-listed builder plans to reclaim land for a huge 5,000-acre (2,023 hectare) man-made island near Pendas and the Second Link in Johor.

Work has already commenced on the island. Development would be undertaken in joint venture with state agency Kumpulan Prasarana Rakyat Johor and span over 30 years, The Star newspaper reported yesterday.

The daily quoted Country Garden's regional president for Malaysia, Kayson Yuen, as stating plans for a mixed development, including luxury homes. Local contractors had been hired for reclamation works as well as an Australian consultant who had previously worked on Sentosa Island's reclamation.