The proposed development will feature serviced apartments, office towers, Soho offices, a sports complex, mall, hotel and a performing arts centre.
By Business Times
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Showing posts with label Land. Show all posts
Showing posts with label Land. Show all posts
Saturday, January 29, 2011
Bayu Melati, PKNS in venture to develop land
MELATI Ehsan Holdings Bhd’s wholly-owned unit Bayu Melati Sdn Bhd has sealed a joint venture agreement with PKNS Holdings Sdn Bhd to develop three parcels of land in Kelana Jaya, Selangor, into a mixed commercial development worth RM1.62 billion.
The proposed development will feature serviced apartments, office towers, Soho offices, a sports complex, mall, hotel and a performing arts centre.
By Business Times
The proposed development will feature serviced apartments, office towers, Soho offices, a sports complex, mall, hotel and a performing arts centre.
By Business Times
Setia Indah to acquire 106ha in Johor Baru
SP SETIA Bhd’s wholly-owned unit Setia Indah Sdn Bhd has entered into a conditional sale and purchase agreement with Kenyalang Property Development Sdn Bhd to buy 106ha in Johor Baru, Johor, for RM125.8 million.
It told Bursa Malaysia yesterday that it intends to develop a mixed residential development project on the land.
By Business Times
It told Bursa Malaysia yesterday that it intends to develop a mixed residential development project on the land.
By Business Times
Friday, January 28, 2011
SP Setia buys land for RM126m
SP Setia Bhd, which has established a strong foothold in Johor, continues to expand its landbank in the state by acquiring a land from Kenyalang Property Development Sdn Bhd for RM125.8 million.
In a filing to Bursa Malaysia today, SP Setia said its subsidiary, Setia Indah Sdn Bhd, had entered into an agreement with Kenyalang for the acquisition, which is expected to conclude during the financial year ending Oct 31, 2011.
It plans to develop a mixed residential development project on the land, located in the Tebrau corridor.
Currently, it is developing four on-going project within the corridor, namely Bukit Indah Johor, Setia Indah Johor, Setia Tropika and Setia Eco Gardens.
SP Setia said the proposed acquisition was in line with its strategy to strengthen its presence in the state while taking advantage of the exciting happenings in the Iskandar region.
It is also expected to contribute positively to the future earnings and cash flow of the group.
By Bernama
In a filing to Bursa Malaysia today, SP Setia said its subsidiary, Setia Indah Sdn Bhd, had entered into an agreement with Kenyalang for the acquisition, which is expected to conclude during the financial year ending Oct 31, 2011.
It plans to develop a mixed residential development project on the land, located in the Tebrau corridor.
Currently, it is developing four on-going project within the corridor, namely Bukit Indah Johor, Setia Indah Johor, Setia Tropika and Setia Eco Gardens.
SP Setia said the proposed acquisition was in line with its strategy to strengthen its presence in the state while taking advantage of the exciting happenings in the Iskandar region.
It is also expected to contribute positively to the future earnings and cash flow of the group.
By Bernama
Equine unit calls off land purchase deal
EQUINE Capital Bhd’s wholly-owned unit Taman Equine (M) Sdn Bhd has scrapped a deal to buy a parcel of land in Selangor from Jelang Puncak Sdn Bhd for RM47.4 million.
The two companies will instead sign a joint development agreement (JDA) to build shop offices worth RM198.1 million on the land, Equine said in a filing to Bursa Malaysia yesterday.
By Business Times
The two companies will instead sign a joint development agreement (JDA) to build shop offices worth RM198.1 million on the land, Equine said in a filing to Bursa Malaysia yesterday.
By Business Times
Thursday, January 27, 2011
Tambun Indah unit buys land in Penang
TAMBUN Indah Land Bhd's wholly-owned unit, Epiland Properties Sdn Bhd is buying two parcels of land in Butterworth, Penang from Hussain Imam Md Ismail and Ayesha Mohamed Ismail for RM11 million.
The deal is in line with its strategy to increase its land bank.
By Business Times
The deal is in line with its strategy to increase its land bank.
By Business Times
Wednesday, January 26, 2011
At RM77mil for 200 acres leasehold land in Puchong, analysts say it’s a steal
PETALING JAYA: Glomac Bhd's proposed acquisition of leasehold land in Puchong from Score Option Sdn Bhd (SOSB) will be advantageous to the property developer for its attractive price and strategic location, analysts said.
At RM77mil for 200 acres, the effective cost of the land worked out to be RM8.84 per sq ft, which was significantly lower than the range of transacted or asking prices of RM32 to RM48 psf in Puchong.
“The purchase price is deemed cheap,” TA Research said in its report.
Located near the established commercial hub of the town with the IOI Mall and Tesco Store in the vicinity, it is basically an extension to Glomac's present development, called the Lakeside Residences in Puchong.
“Glomac can now strategise any land enhancement activities to improve the value of its enlarged landbank,” TA Research said.
The Lakeside Residences is a joint-venture development between Glomac and SOSB on a 90-acre land to be acquired.
The project, comprising 537 units of double-storey terraced houses and 100 units of semi-detached houses, was launched in 2005 with a total gross development value (GDV) of RM250mil.
“What's positive is that property prices have increased significantly since the launch of the first phase of Lakeside Residence,” ECM Libra said in its report, comparing the initial launch price of about RM300,000 per unit in 2005 for terraced houses versus the current asking price of about RM440,000.
Puchong is one of the property hot spots in the Klang Valley, as the area is easily accessible via Lebuhraya Damansara-Puchong, the Shah Alam Expressway as well as the Bukit Jalil highway.
With the land acquisition, Glomac's future earnings capability would be enhanced, as the property developer could now extend its presence in Puchong and gain from the fast-growing property market there, analysts said.
“The acquisition would be accretive to the company's net asset value (NAV) and earnings,” AmResearch said in a recent report.
On average, some analysts were looking at a potential increase of 25% for the company's NAV and more than 20% in the company's earnings in the financial year ending April 30, 2013.
However, Glomac had yet to reveal details such as the GDV and timeline for its “enlarged” Puchong project. Following the proposed land acquisition, Glomac's existing masterplan for the area would likely undergo significant amendment, according to some analysts.
Analysts in general viewed Glomac favourably for its strong earnings visibility with unbilled sales of almost RM600mil.
They also expect further news flow on land acquisition by the company as part of its aggressive expansion plan.
Glomac reported a net profit increase of 71% year-on-year (yoy) to RM15.88mil for the second quarter ended Oct 31, 2010 on revenue of RM140.89mil, which represented an increase of 86% yoy.
Over the next 12 months, the company would be launching projects valued in excess of RM1bil. These include a RM250mil apartment project in Mutiara Damansara, a RM145mil retail mall in Glomac Damansara and the RM400mil Glomac Utama mixed development in Petaling Jaya.
By The Star
At RM77mil for 200 acres, the effective cost of the land worked out to be RM8.84 per sq ft, which was significantly lower than the range of transacted or asking prices of RM32 to RM48 psf in Puchong.
“The purchase price is deemed cheap,” TA Research said in its report.
Located near the established commercial hub of the town with the IOI Mall and Tesco Store in the vicinity, it is basically an extension to Glomac's present development, called the Lakeside Residences in Puchong.
“Glomac can now strategise any land enhancement activities to improve the value of its enlarged landbank,” TA Research said.
The Lakeside Residences is a joint-venture development between Glomac and SOSB on a 90-acre land to be acquired.
The project, comprising 537 units of double-storey terraced houses and 100 units of semi-detached houses, was launched in 2005 with a total gross development value (GDV) of RM250mil.
“What's positive is that property prices have increased significantly since the launch of the first phase of Lakeside Residence,” ECM Libra said in its report, comparing the initial launch price of about RM300,000 per unit in 2005 for terraced houses versus the current asking price of about RM440,000.
Puchong is one of the property hot spots in the Klang Valley, as the area is easily accessible via Lebuhraya Damansara-Puchong, the Shah Alam Expressway as well as the Bukit Jalil highway.
With the land acquisition, Glomac's future earnings capability would be enhanced, as the property developer could now extend its presence in Puchong and gain from the fast-growing property market there, analysts said.
“The acquisition would be accretive to the company's net asset value (NAV) and earnings,” AmResearch said in a recent report.
On average, some analysts were looking at a potential increase of 25% for the company's NAV and more than 20% in the company's earnings in the financial year ending April 30, 2013.
However, Glomac had yet to reveal details such as the GDV and timeline for its “enlarged” Puchong project. Following the proposed land acquisition, Glomac's existing masterplan for the area would likely undergo significant amendment, according to some analysts.
Analysts in general viewed Glomac favourably for its strong earnings visibility with unbilled sales of almost RM600mil.
They also expect further news flow on land acquisition by the company as part of its aggressive expansion plan.
Glomac reported a net profit increase of 71% year-on-year (yoy) to RM15.88mil for the second quarter ended Oct 31, 2010 on revenue of RM140.89mil, which represented an increase of 86% yoy.
Over the next 12 months, the company would be launching projects valued in excess of RM1bil. These include a RM250mil apartment project in Mutiara Damansara, a RM145mil retail mall in Glomac Damansara and the RM400mil Glomac Utama mixed development in Petaling Jaya.
By The Star
Tuesday, January 25, 2011
Glomac buys land
GLOMAC’s wholly-owned unit, Glomac Alliance Sdn Bhd, has sealed a sale-and-purchase agreement with Score Option Sdn Bhd to buy 80ha of leasehold land in Puchong, Selangor, for RM77 million.
In a filing to Bursa Malaysia yesterday, Glomac said the acquisition was in line with its core strategy to buy suitable land in Klang Valley with strong potential for a prime new development.
By Business Times
In a filing to Bursa Malaysia yesterday, Glomac said the acquisition was in line with its core strategy to buy suitable land in Klang Valley with strong potential for a prime new development.
By Business Times
Monday, January 24, 2011
GUH seeks more land for property projects
WHILE GUH Holdings Bhd continues to look at its printed circuit board (PCB) division as the primary driver of growth this year and in years to come, the firm continues to expand its landbank for other activities.
Managing director Datuk Kenneth H'ng Bak Tee said for its PCB business, the company will move into niche, better pricing and future trend products such as light emitting diode (LED)-based special tuners and power supply.
"In further restructuring our clientele base," he noted, "we are moving away from Taiwanese and Chinese clients who are generally known for their low pricing and being bad paymasters."
While South Korean clients are basically associated with average pricing and are good paymasters, H'ng said the focus would be more on Japanese, the US and European clients who are known for not only good pricing, but also for being good paymasters.
On the property development side, GUH is looking at acquiring land in the Klang Valley, Penang island and upcoming spots in Seberang Prai.
He said GUH's Taman Bukit Kepayang development in Seremban, has so far seen development of 120 hectares and there was a balance of about 108 ha left to be developed over the next six to seven years.
"We want to maintain our current build-and-sell strategy for residential and commercial development," he added.
On GUH's plantation activities, H'ng said the 154 ha of plantation land in Kedah, acquired as a testing ground, had proven to be very successful and boasted industry-standard yields.
"We are now looking to increase the estate size to between 1,200 ha and 2,000 ha in order to achieve meaningful economics of scale," he added.
By Business Times
Managing director Datuk Kenneth H'ng Bak Tee said for its PCB business, the company will move into niche, better pricing and future trend products such as light emitting diode (LED)-based special tuners and power supply.
"In further restructuring our clientele base," he noted, "we are moving away from Taiwanese and Chinese clients who are generally known for their low pricing and being bad paymasters."
While South Korean clients are basically associated with average pricing and are good paymasters, H'ng said the focus would be more on Japanese, the US and European clients who are known for not only good pricing, but also for being good paymasters.
On the property development side, GUH is looking at acquiring land in the Klang Valley, Penang island and upcoming spots in Seberang Prai.
He said GUH's Taman Bukit Kepayang development in Seremban, has so far seen development of 120 hectares and there was a balance of about 108 ha left to be developed over the next six to seven years.
"We want to maintain our current build-and-sell strategy for residential and commercial development," he added.
On GUH's plantation activities, H'ng said the 154 ha of plantation land in Kedah, acquired as a testing ground, had proven to be very successful and boasted industry-standard yields.
"We are now looking to increase the estate size to between 1,200 ha and 2,000 ha in order to achieve meaningful economics of scale," he added.
By Business Times
Saturday, January 22, 2011
Bina Puri unit buys land in KK for RM4.5m
KUALA LUMPUR: Bina Puri Holdings Bhd said its wholly owned subsidiary, Bina Puri Properties Sdn Bhd has acquired a parcel of land in Kota Kinabalu, Sabah of about 1.95 acres for RM4.5mil.
Group managing director Tan Sri Tee Hock Seng said in a statement yesterday that the land would be developed into a serviced residence, with an estimated gross development value of about RM60mil.
The land will be used for the development of one block of service apartments consisting 100 units with sizes ranging from 1,500 sq ft to 4,500 sq ft.
The land will be developed into a serviced residence, with an estimated gross development value of about RM60mil.
By The Star
Group managing director Tan Sri Tee Hock Seng said in a statement yesterday that the land would be developed into a serviced residence, with an estimated gross development value of about RM60mil.
The land will be used for the development of one block of service apartments consisting 100 units with sizes ranging from 1,500 sq ft to 4,500 sq ft.
The land will be developed into a serviced residence, with an estimated gross development value of about RM60mil.
By The Star
GSB to sell land, hotel for RM22mil
KUALA LUMPUR: GSB Group Bhd's unit, Serta Usaha Sdn Bhd (SUSB), has entered into a conditional sale and purchase agreement with Leopad Holdings Sdn Bhd to sell its property, comprising land and a 13-storey hotel, for RM22mil cash.
The property is situated in Jalan Kapar, off Jalan Syed Putra, in Kuala Lumpur.
GSB, in a filing to Bursa Malaysia yesterday, said the proposed sale is expected to be completed within eight months from the date of the agreement.
By The Star
The property is situated in Jalan Kapar, off Jalan Syed Putra, in Kuala Lumpur.
GSB, in a filing to Bursa Malaysia yesterday, said the proposed sale is expected to be completed within eight months from the date of the agreement.
By The Star
Wednesday, January 19, 2011
Bolton eyeing 44ha site in Penang
PROPERTY developer Bolton Bhd is looking to expand its landbank in Penang with a potential acquisition in Teluk Kumbar this year.
Bolton executive chairman Datuk Azman Yahya yesterday said it was hopeful to conclude the proposed acquisition of the 44ha site within two to three months.
The land on the south-western end of Penang island is estimated to cost Bolton RM150 million, Azman added.
"Our maiden project in Penang - Surin, has been encouraging and we are now looking at expanding our landbank on the island via acquisitions and joint ventures," he told reporters after a topping out ceremony for the Surin Tower B project located in Tanjung Bungah.
Surin is a two-block 28-storey luxury condominium project which is built on a freehold parcel of elevated land and carries a development value of RM199 million.
Of the project's 390 units, about 77 per cent had already been sold out and about 30 per cent to 35 per cent of the buyers were foreign, Azman said.
The units, which were sold at prices ranging from RM345,998 to RM1.2 million, offer amenities such as an infinity pool, rooftop garden, two covered carpark bays per unit, three tier security, a barbeque area and sky decks.
On the planned purchase of the Teluk Kumbar land, Azman said Bolton was looking at building landed property units, along with apartments in a gated community.
"Our target investors for this proposed project would be locals," he added, saying that Bolton remains on the lookout to buy land in Tanjung Bungah.
"We remain convinced of Penang's vibrancy and growth prospects and we are actively looking for development opportunities.
"The residential market remains buoyant and this is a segment which we want to focus on," Azman said.
In the Klang Valley, he said the company will soon unveil a block of luxury serviced residences at Jalan Bukit Ceylon, an exclusive gated community in Ukay Perdana, and the 51 Gurney development.
The latter project is touted as Malaysia's first and only super luxurious condominium which comes complete with spacious driveway on every floor and a car park within every unit.
By Business Times
Bolton executive chairman Datuk Azman Yahya yesterday said it was hopeful to conclude the proposed acquisition of the 44ha site within two to three months.
The land on the south-western end of Penang island is estimated to cost Bolton RM150 million, Azman added.
"Our maiden project in Penang - Surin, has been encouraging and we are now looking at expanding our landbank on the island via acquisitions and joint ventures," he told reporters after a topping out ceremony for the Surin Tower B project located in Tanjung Bungah.
Surin is a two-block 28-storey luxury condominium project which is built on a freehold parcel of elevated land and carries a development value of RM199 million.
Of the project's 390 units, about 77 per cent had already been sold out and about 30 per cent to 35 per cent of the buyers were foreign, Azman said.
The units, which were sold at prices ranging from RM345,998 to RM1.2 million, offer amenities such as an infinity pool, rooftop garden, two covered carpark bays per unit, three tier security, a barbeque area and sky decks.
On the planned purchase of the Teluk Kumbar land, Azman said Bolton was looking at building landed property units, along with apartments in a gated community.
"Our target investors for this proposed project would be locals," he added, saying that Bolton remains on the lookout to buy land in Tanjung Bungah.
"We remain convinced of Penang's vibrancy and growth prospects and we are actively looking for development opportunities.
"The residential market remains buoyant and this is a segment which we want to focus on," Azman said.
In the Klang Valley, he said the company will soon unveil a block of luxury serviced residences at Jalan Bukit Ceylon, an exclusive gated community in Ukay Perdana, and the 51 Gurney development.
The latter project is touted as Malaysia's first and only super luxurious condominium which comes complete with spacious driveway on every floor and a car park within every unit.
By Business Times
Thursday, January 13, 2011
Land re-pricing to boost UEM Land, Tebrau
UEM Land Bhd, Tebrau Teguh Bhd and Mulpha International Bhd are among Malaysian property companies that will benefit from a “re-pricing” of the land and property values in the southern Johor state, according to RHB Research Institute Sdn Bhd.
“The re-rating of the Johor property play started following the negotiation of the land swap deal between Singapore and Malaysia,” RHB said.
“The re-rating process was further accelerated by the introduction of the Government’s economic transformation program.”
By Bloomberg
“The re-rating of the Johor property play started following the negotiation of the land swap deal between Singapore and Malaysia,” RHB said.
“The re-rating process was further accelerated by the introduction of the Government’s economic transformation program.”
By Bloomberg
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