PETALING JAYA: Despite the large overhang of properties in the Northern region, Kedah-based boutique developer Imperio Group believes the young population in Alor Setar, the capital city of Kedah, are still looking to own their own homes that meet their needs.

A founder and director of Imperio Group Lee Woei Nen said many units were left unsold, because the products failed to meet buyers’ needs.

“Technology disruption have changed the way people ‘shop’ for houses while elements like safety, lifestyle and proximity to amenities have become important considerations in buying a home,” Lee told EdgeProp.my.

Noting the gap in supply for integrated and lifestyle developments in Kedah, Imperio Group will turn a 3.7-acre plot in Simpang Kuala in Alor Setar into a mixed development offering retail, hotel, office and co-working spaces as well as residential components.

Called The Tenz after the local name of the place “Ten shops” or Chap keng tiam in Hokkien, the development has an estimated GDV of RM200 million and will be unveiled within the first quarter of this year.

It comprises three blocks ranging from 15 to 34 storeys, which will house a 150-room hotel, 338 units of serviced apartments, 168 units of SoHo Suites, 14,000 sq ft office and co-working space as well as 128,000 sq ft of retail space. There will also be a park in the development.

“We are looking at creating a family-oriented leisure and entertainment place to visit in Alor Setar for the local population. For now, there are no such developments in Alor Setar, so we are confident that The Tenz will attract property buyers and shoppers in future,” said Lee.

He added that the serviced apartment will be priced below RM350,000 to target young families and the elderly looking to downsize.

The company is in talks with international hotel operators, retail operators, supermarkets, confinement centres and pre-school operators to become tenants at the development.

“This will create a sustainable cycle for business owners and residents in The Tenz, where residents and the working population could enjoy conveniences at their doorsteps while retail businesses continue to be vibrant with increasing footfalls,” Lee said.

Aside from The Tenz, Imperio Group also hopes to launch a luxury landed housing project in Alor Setar comprising 88 bungalow villas on a seven-acre plot, in 2021.

There are also plans to venture into Langkawi with a 70-acre development but details are yet to be finalised.

Imperio Group has previously developed Taman Savori in Simpang Empat, Alor Setar, and Imperio Professional Suites in Seksyen 38, Bandar Alor Setar.

Launched in 2013, the RM50 million Taman Savori comprises 167 terraced houses within a gated-and-guarded development which was completed in 2015. It currently has an occupancy rate of 90%.

“The gated-and-guarded concept and the loft house design were well-received by young homebuyers as there were not many projects with such concepts in the market,” noted Lee.

The second phase of Taman Savori had also received good response with 70% of the 154 double-storey terraced houses sold. They were priced at around RM350,000 (in 2017) compared with RM260,000 for houses in phase one.

Meanwhile, the company has helped to complete phase three of the Taman Sri Derga which was left abandoned in 1997. It stepped in to revive the construction of the 16 units of houses in 2015.

This story first appeared in the EdgeProp.my pullout on Feb 21, 2020. You can access back issues here.

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