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Chong Wei embarks in the property business
Jun 18, 2012
World renowned badminton player Datuk Lee Chong Wei has ventured into the property business with a RM160 million condominium project in Ampang.
Dubbed the A Residency D' Suria Condominium, the 18-storey project is located at Ampang Hilir. The condominium units are priced from RM500, 000 to over RM1 million, depending on the built-up area.
Chong Wei, who is also a director of the housing development company Chong Wei Bina Jaya, launched the property on Friday at Kuala Lumpur Convention Centre, together with his co-owners.
"I have made up my mind to be involved in business after my retirement. This (the launch of the condominium project) is my future. I need something to fall back after I stop playing badminton," said Chong Wei.
"As a child growing up, my family didn't own any landed properties. As a player, I had a dream to buy a house for my family and I have done that. Now, I'm in this business so that I can provide others with homes," he added.
The project is a team up between Chong Wei Binajaya Sdn Bhd and Perak-based property player SSF Corp.
"We have already sold 40 percent of the 252 units available due to its strategic location and are confident it will get a good response," said Wayne Chew, Executive Director of SSF.
Chew noted that Chong Wei Binajaya is a unit of the SSF. However, he refused to disclose details of their collaboration.
SSF started as a contractor when it was established back in 1995. Currently, it has built more than 1,000 homes, largely in Perak including joint ventures with the state government.
A Residency is set to be launched by September and is slated to be fully developed by 2014.