New project: An artist’s impression of Borneo Samariang Resort City.
PETALING JAYA: Theme park operator-cum-property developer Sentoria Group Bhd has launched its second resort city, Borneo Samariang Resort City (BSRC), in Kuching.
The project, which is expected to have a total of RM2bil gross development value (GDV), would spread across 500 acres. This is equivalent to RM4mil per acre.
The project will feature a water theme park, safari park, a hotel with meeting, incentives, conference and exhibition facilities as well as various types of affordable housing and commercial properties.
Sentoria said in a statement yesterday that the first phase of the BSRC development would have a GDV of RM500mil, which comprise 428 units of service apartment, is expected to be launched progressively over the next three years.
There will be two types of service apartment available – studio units and two-bedroom apartments – with a starting price of RM178,800 for the studio unit and RM278,800 for the two-bedroom unit.
Sentoria said the units would come with a nine-year guaranteed rental return of RM900 per month for the studio unit and RM1,400 per month for the family unit.
“This is a first of its kind resort city in Sarawak, coupled with the attractive pricing and guaranteed rental return, we are confident that the service apartments will receive favourable response from local as well as international buyers,” said Sentoria head of public and investor relations Nasiruddin Nasrun.
Sentoria’s flagship project was the Bukit Gambang Resort City sprawling over 727 acres in Kuantan. It was its first resort city project.
Aside from its projects in Pahang and Sarawak, the company has two other projects in the pipeline, namely, the Morib Bay Resort City, a joint venture with Permodalan Nasional Bhd as the landowner worth RM3.5bil and a Langkawi project of about RM2bil.
For the third quarter ended June 30, 2015, Sentoria posted a 42.7% decline in net profit to RM4.68mil from RM8.18mil in the same quarter last year. Its revenue for the quarter dropped to RM45.8rmil from RM56.36mil a year ago.
