KUALA LUMPUR: Sarawak-based Naim Holdings Bhd aims to move into real estate investment trust (REIT) business with properties en route for launching this year of gross development value of up to RM400 million.
Its corporate services senior director, Ricky Kho Teck Hock, said over the next six to nine years, the group aimed to launch properties of over RM3 billion in value.
He said the REIT business would generate recurring income and gain in property value.
"We have been focusing on our business in Sarawak all this while. Now we are looking to expand to Peninsular Malaysia.
"The company is searching for the right properties to acquire in the Klang Valley, Penang and Pahang," he said after delivering a luncheon talk entitled "Opportunities in Sarawak Corridor of Renewable Energy (SCORE)" here yesterday.
Kho said the group has about RM1.3 billion worth of construction tenders in hand and was also bidding for over RM2 billion worth of tenders within the SCORE area.
He said the group planned to launch the first phase of its New Bintulu City Centre and the Pantai Piasau residences in Miri next year. "The overall GDV of the 17ha New Bintulu City Centre is RM2.3 billion and the 14.97ha Pantai Piasau residences is worth RM251 million," he said.