2/17/2009 — The Star
Gold Coast Kuantan Resort Sdn Bhd, a subsidiary of STG Group, will invest RM10mil on its first property development in the East Coast Economic Region.
The development will comprise 99 apartment suites with a view of the South China Sea and full hotel services. The project is expected to be completed by 2010.
According to STG Group chairman Datuk Dr Alex Tan Siong Seng, Gold Coast Kuantan would emulate the company’s Gold Coast Morib Resort project, which would be completed by December.
“The group has plans for properties of different characteristics, from those with views of seas and lakes to that with islands and hills.
“In Kuantan, the property offers leisure and a quality lifestyle. It will be done with high standards in mind, and the furnishings will be like in a hotel,” he said in a press release issued here recently.
He said the Kuantan project would offer a beautiful view of the South China Sea provide good returns in investment.
Tan said the purchasers could opt to have their properties managed and rented out on a nightly basis by a professional company.
“They can get 8% returns on the investment for up to 15 years, without sacrificing their need to use the property or any other Gold Coast property for up to 60 days,” he added.
He also said the owners could expect capital appreciation of 40% after five years, adding that over 60% of the freehold Kuantan Gold Coast apartment suites had been sold.
Half of the buyers were foreigners and 80% of them had signed up for the investment plan, he added.
The rest would be owner-occupied, Tan said.
Among the facilities were a clubhouse, healthcare centre, karaoke, bar, cafes, seafood restaurants and water sports.
The project also boasts a 24-hour security and hotel management services.
Other Gold Coast properties in the pipeline are Nottingham International Apartments near Nottingham University in the Klang Valley and Gold Coast Pulau Pangkor.
The STG Group of companies is involved in property development, construction and advertising.
Its businesses include property development, investment proper¬ty sales management, construction and one-stop advertising.
It is expected to be listed on the KLSE by 2012.
Firm To Build Apartment Suites In Kuantan
2/17/2009 — The Star