EUPE is a well-known property developer based in Sungai Petani, Kedah. It has multiple townships development in Sg Petani, Gurun & Padang Serai.
The most notable development is Cinta Sayang Resort & its township with a 18-holes golf course, hotel and water park.
During previous property market boom in early 2010s, EUPE started to venture into property market in Klang Valley.
In 2011-2012, it announced its plan to acquire lands in Puncak Jalil, Bangsar South & Cheras. The Puncak Jalil land deal which was meant for landed properties was terminated later.
At that time, I had some interest to invest in EUPE as I thought those high-rise projects in KL should carry higher GDVs which would boost its profitability significantly.
However, its first KL project "Novum@Bangsar South" which was initially planned for early 2013, has been delayed to Mac 2016, the time when property market went downhill.
Nevertheless, EUPE's venture into property development in Klang Valley is a successful one.
Since 2016 until today, EUPE has launched 3 projects in Klang Valley:
- Novum (Bangsar South): GDV RM568mil
- launched in Mac16
- 50% JV
- Total 729 units, 100% sold
- Construction started in Oct16, completed in mid 2020
- Parc3 (Cheras): GDV RM495mil
- launched in Oct17
- 70% owned
- Total 793 unit, >90% sold
- Under construction, estimated completion in 2021
- Est8 (Seputeh): GDV RM575mil
- launched in Mac21
- 70% owned
- Total 821 units, 246 units (30%) booked in one month time