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Tuesday, July 22, 2008

Developer counts on Johor land for growth

JOHOR BARU: Tebrau Teguh Bhd says its land bank within the Tebrau-Plentong river basin development augurs well for its future growth.

Executive vice-chairman Johar Salim Yahaya said the company had a total 437.47ha and 12km water frontage.

Johar Salim Yahaya (left) and Mohd Zafaruddin Razali with a model of the shop offices at Puteri Point Commercial Park in Permas Jaya

He said 56.06ha were currently being developed with low and high-density apartment blocks, shop offices and a commercial complex.

“Our land bank is strategically located in the main growth nodes of Iskandar Malaysia,” Johar told StarBiz recently at the launch of shop offices at its Puteri Point Commercial Park at Permas Jaya near here.

Johar said the 62 three-storey shop offices were priced from RM456,000 and expected to be completed in 2010 with gross development value of RM37mil.

He said the company was currently talking to a supermarket operator to set up a standalone supermarket in the 4.856ha commercial park.

Head of property division Mohd Zafaruddin Razali said growth prospects for the supermarket was promising as there was an estimated population of 80,000 within a 1km radius.

He said Tebrau Teguh planned next to develop 184.69ha with a 1.5km river frontage just a stone’s throw from the commercial park.

“This is the last piece of land for development in the eastern part of Johor Baru with river frontage,” he said.

By The Star - StarBiz - (by Zazali Musa)

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