MIXED DEVELOPMENT NEAR KUCHING INTERNATIONAL AIRPORT
PROJECTED COMMERCIAL VALUE
Commercial Sale Value:
(1)3 Storey Commercial Complex Area = 50,000 sq.ft.
At RM 200 per sq.ft. = RM 10M
(2) Hotel Land Area = 2700 m2, Proposed Land Sale price = RM 3M
(3) 39 units of 3 storey shophouse, proposed sale price at RM 1.1M per unit = RM 43M
(4) 20 units of 1200 sq. ft. apartments at RM 200K each = RM 4M
Grand Total Sale Price of the whole project = RM 60M
Cost Estimate
(1) Land Cost = RM 23M
(2) 3 storey commercial complex @ RM 150/sf = 50,000 x 150 = RM 7.5M
(3) 39 units shops @ RM 250K/units = 250000 x 39 = RM 9.75M
(4) 20 units apartments @ RM 100/sf = 20 x 100 x 1200 = RM 2.4M
(5) Fees,Contributions & Infrastructure = RM 2.35M
(6) Total Cost = RM 45M
A very rough outlook of this project is outlay of RM 45M will generate a total sale of RM 60M, about 25% profit in a very conservative view.
The broader view is hidden behind the major development in and around this 6 miles area. The Kuching Central is taking shape very fast. By then all public transport especially the long distance coaches to Miri, Sibu and Major Indonesian towns will make this their homes. A 3 star hotel with 220 rooms will be a major attraction here. Somehow this site is only a stone throw from Kuching International Airport. With imagination, the commercial, apartments and shophouses will gather hugh interest form the public. This is an opportunity not to be missed again!!