Monday, May 7, 2012
PETALING JAYA: Sentoria Group Bhd expects to launch projects with a total gross development value (GDV) of RM1.5bil within the next eight years.
Public and investor relations head Nasiruddin Nasrun said the projects would be located in Selangor and within the company's Bukit Gambang Resort City (BGRC) development in Kuantan, Pahang.
“About RM113.8mil will be for property projects in Kuantan and Selangor, while the balance RM1.4bil will be allocated for BGRC-related developments such as additional hotel rooms and suites and retail outlets to add to its vibrancy,” he told StarBiz in an e-mail.
“Going forward, Sentoria plans to launch projects with a GDV of about RM1.5bil, which indicates that the property segment will continue to be a significant revenue generator,” Nasiruddin added.
Sentoria currently has three ongoing projects within BGRC and three other developments in different locations.
The projects at BGRC are its Arabian Bay Resort (comprising penthouses as well as resort and hotel suites), Global Heritage South (double-storey villas and hotel suites) and Desa Hijauan (single-storey terrace and semi-detached homes).
Its other projects are Taman Indera Sempurna 2 (comprising single-storey terrace homes, semi-detached houses and bungalows), Fasa Bunga Raya (double-storey terrace houses) and Taman Bukit Rangin (single-storey terrace and semi-detached homes).
“Part of Sentoria's masterplan is to further develop other accommodation and commercial centres in BGRC to accommodate even larger patronage,” he said, adding that the future BGRC-related projects were targeted for completion in 2018.
“As our land bank is primarily within the vicinity of Kuantan, Sentoria has developed affordable housing that fulfil the demand from the mass and middle-income groups.”
Sentoria also has a number of completed projects Taman Sentoria, Taman Indera Sempurna 1, and Caribbean Bay Resort in BGRC.
As for developing projects beyond Kuantan, Nasiruddin said Sentoria was “constantly exploring new pockets of growth”.
“We have embarked on a few small property projects in Negri Sembilan and Selangor but hope to secure a major breakthrough in the Klang Valley in the future,'' he added.
According to him, Sentoria's property division contributed RM114mil or 70.2% of total revenue in its financial year ended Sept 31, 2011. The remaining 29.8% or RM48.4mil was contributed by its leisure and hospitality division.
“At the moment, Sentoria has land bank of 953.9 acres with a total GDV of RM2.2bil that would keep the group busy till 2020.
“This includes the balance of more than 200 acres in BGRC that has been allocated for further development into additional theme parks, accommodation options and commercial interests,” said Nasiruddin.
He said Sentoria was optimistic about the outlook of its leisure and hospitality division.
“This is in light of our masterplan for BGRC, which include building additional three theme parks Bukit Gambang Safari Park, Marine Park and Adventure Park to attract more patrons in the coming years,” he said.
By The Star