BLand to launch projects worth RM500m this year
Posted on | July 26, 2010
By BUSINESS TIMES
BERJAYA Land Bhd (BLand) (4219) will launch new projects worth more than RM500 million this year to take advantage of pent-up demand for housing in the Klang Valley.
BLand is bullish on the property market, its senior general manager of properties and marketing, Mah Siew Wan, said.
“We are seeing a return of buying interest for high-end houses. Our properties are all unique and in prime areas so we are confident of brisk sales,” she told Business Times in an interview.
BLand, 53 per cent controlled by Tan Sri Vincent Tan’s Berjaya Corp Bhd, will launch Vastana25, a high-end project, at Seputeh Heights in Kuala Lumpur by end-July.
Last weekend, it relaunched The Peak at Taman TAR in Selangor.
The Peak, comprising 88 guarded and gated bungalow lots, was re-launched as it now has freehold status.
By the end of this year, BLand will launch KM1 Condominiun in Bukit Jalil and shop offices in Berjaya Park in Shah Alam, Selangor.
The group has about 10 ongoing developments worth some RM1 billion and it will launch more projects next year, Mah said.
BLand has some 400ha in the Klang Valley with the potential of generating more than RM8 billion in gross development value.
It also has projects in China, Vietnam and South Korea worth more than US$12 billion (RM 38.4 billion).
In China, BLand has a mixed-development project comprising retail, entertainment, theme park and water park in Sanhe City, Hebei Province. It has yet to launch the project.
Infrastructure work on its maiden US$3 billion (RM9.6 billion) resort-type mixed-development township project in South Korea has started.
The project featuring apartments, serviced residences, semi-detached and resort-style villas, a wellness resort, a casino and resort hotel, hotel residences, a mall and an indoor arena will be launched next year.
In Vietnam, BLand has a US$6.3 billion (RM20.7 billion) mixed-development project in Dong Nai Province.
- Malaysia Property Market News New Launches
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