Gamuda Land confident of record RM1.3b sales
Posted on | April 8, 2011
By BUSINESS TIMES
KUALA LUMPUR: Gamuda Land Sdn Bhd, the property development arm of Gamuda Bhd, is confident of achieving a record RM1.3 billion sales in the current financial year, driven by strong property market outlook.
The group registered about RM800 million total sales in the financial year ended July 31 2010.
Gamuda Land managing director Chow Chee Wah said to date, the company had clocked in RM860 million sales, surpassing last year’s total sales.
“Major contributor to the targeted RM1.3 billion sales is Bandar Botanic project, while our project in Vietnam (Celadon City) will also contribute this year,” he told reporters after the launch of Gamuda Land’s latest niche development, Madge Mansions, yesterday.
Besides Bandar Botanic in southern Klang, Gamuda Land’s ongoing projects include Valencia in Sungai Buloh, Kota Kemuning in Shah Alam, Jade Hills in Kajang and Horizon Hills in Johor Baru.
On whether the company is eyeing other countries, Chow said Gamuda Land is currently focusing on projects in Malaysia and Vietnam.
He said the RM6 billion Celadon City development, which was launched in Ho Chi Minh City in February, has received good response. Another upcoming project will be in Hanoi, called Yen So Park.
The Madge Mansions, on a 0.8ha land on Madge Road in the quiet embassy district in Kuala Lumpur, has a gross development value of RM320 million.
It comprises 52 units of premium condominiums and duplex penthouses, with the smallest unit priced at about RM5 million. The units’ built-up area ranges from 3,900 sq ft to 8,379 sq ft.
Chow said construction has started and the project is expected to be completed in January 2014. He said Madge Mansions is targeted at both locals and foreigners.
- Gamuda Land
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