MTT Properties and Development Sdn Bhd is launching its first batch of luxurious homes in Balik Pulau, Penang, in the fourth quarter.

MTT group general manager Jason Tan said the luxurious home, comprising 29 hillside three-storey villas, would be priced above RM3mil.

?These will be the most expensive homes to be built in Balik Pulau,? he said of the 29 villas that form Phase 4 of the Botanica.CT garden township project located on a 121ha (300acre) site.

He said they have already received many enquiries fromthe local and foreign market for the villas which come in seven designs, each with a built-up area of 6,000sq ft and with land areas ranging from 9,000sq ft to 16,000sq ft.

?Each villa comes with five bedrooms and a large car porch, and all the units are equipped with swimming pools, water features, lanai, pool deck, Jacuzzi, and cabana,? Tan said.

He said MTT is also targeting to launch 80 units of townhouses with a built-up area of about 1,000sq ft, under Phase 5 of the Botanica.CT project, which are expected to be priced around RM300,000 in 2012.

?We are also building over 120 units of terrace and semi-detached units for Phase 5. The prices have yet to be fixed,? he said.

To enhance the attraction of the Botanica.CT project, Tan said MTT recently completed the construction of its Prince of Wales Island International School within the scheme, which would open its doors to students in September and have a British-based curriculum.

On the properties that will be showcased at the forthcoming Star Property Fair 2011, Tan said MTT had sold about 60% of the 103 units of terrace and semi-detached properties which form Phase 3 of the Botanica.CT project.

The properties, with built-up areas ranging between 2,500sq ft and 3,500sq ft, are priced between RM620,000 and RM1.2mil.

?We have completed the construction of the 103 units, and the certificate of fitness is expected to be released in September,? he said.

The ninth Star Property Fair 2011 in Penang will be held at Gurney Plaza and the adjoining G Hotel from July 21 to 24.

Organised by The Star in collaboration with Henry Butcher Penang, the fair will be open to the public from 10am to 10pm daily and admission is free.

To date, 28 major developers ? representing almost all the big boys in the industry ? along with several financial institutions, have taken up booths in the fair.

The fair will also see RM30,000 worth of prizes to be won for the ?Surf, Click & Win? contest, sponsored by IJM Land.

SOURCE: The Star