MIXED development firm Plenitude Bhd has launched Tebrau City Residences, the first serviced apartments project in Johor Baru, which is integrated in a "city within a city" concept at Tebrau City.Tebrau City Residences, comprising 1,088 units, is designed for modern city living adjacent to three international retail malls - AEON Jusco mall and the upcoming Tesco and IKEA outlets.The company said in a statement that the launch is for the first parcel with 472 units and the rental yield is projected at 8 per cent, according to executive chairman Chua Elsie.She said it is expected to continue to increase in value due to land appreciation in the area and within the Iskandar Development Region.
(Bernama 26-2-2008)
