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Touch of golfing great
On her impression of the site, Sorenstam says it is a beautiful and peaceful place with natural terrain: "I am thrilled with what I have seen today... it is like an open book and I can then start drawing."
Overcoming negative perceptions
"Then the 1997/98 Asian financial crisis happened and the KLIA airport was located in the south instead. Developers in Bukit Beruntung and Bukit Sentosa focused on low and medium-cost housing instead, and with the increase in highway tolls, it was difficult to sustain new development there," See tells City & Country.
Up for auction
Furthermore, says See, many investors in Bukit Beruntung did not move in and this resulted in an "empty" township. "From early 2000 onwards, we have seen a lot of auctioned properties there and it continues until today. It would be quite difficult to see a comeback for the area as prices are going down so low," he says. See cites an example of an apartment that was sold between RM40,000 and RM60,000 in the 1990s that is now up for sale at between RM5,000 and RM6,000.
Carey Real Estate (Ampang) director Avtar Singh says the first phase of Bukit Beruntung received good response when launched around 1992 to 1994. Bungalows, with a land area of 6,000 sq ft, were sold at between RM160,000 and RM180,000 then. Recent transactions of similar bungalows were auctioned for about RM200,000 to RM220,000, he says.
See says that while there may not be any major short-term impact on the area, investors may take another look at Bukit Beruntung and Bukit Sentosa if Mines Golf City proves to be a success.