L&G Plans To Launch New Property Projects With GDV RM710 Million

KUALA LUMPUR, Sept 13 (Bernama) -- Land and General (L&G) Bhd plans to launch two new property projects with a gross development value (GDV) of RM710 million by the end of financial year March 31, 2018.

Managing Director Low Gay Teck said the projects, namely Sena Parc(GDV RM230 million) is expected to be launched in November, whilst the other residential project, Seresta (GDV RM480 million) will take off in February 2018.

Sena Parc will be developed in three phases, with the first scheduled for launch in November, and comprising 543 double-storey linked houses.

Low was speaking after the company's 54th annual general meeting here today.

The group has completed the acquisition of four companies from Malaysia Land Properties Sdn Bhd, namely Primal Milestone Sdn Bhd, Quantum Bonus Sdn Bhd, Triumph Bliss Sdn Bhd and Forward Esteem Sdn Bhd.

L&G has an existing landbank of about 1,214.06 hectares and is constantly looking to expand it.

To another question, L&G is expected to focus on the local scene in which it has a handful of projects.

Low said the company would not be aggressively sourcing for overseas projects with the ongoing domestic ventures being sufficient for at least three to five years.

L&G is currently involved in the Hidden Valley project, in Melbourne, through a joint venture development company.

L&G's earnings are derived from its property division, followed by education and other divisions.

-- BERNAMA