It has 10 projects in hand worth some RM1.2 billion.
"Based on the sales of properties at our ongoing developments, we believe the market is heading back to normal. Next year will be more exciting for us as we will introduce new product launches," BLand senior general manager of properties and marketing, Mah Siew Wan, told Business Times in an interview.
The company plans to launch a RM150 million residential project called "Covillea" in November, within its 160ha Bukit Jalil development in Kuala Lumpur.
Covillea comprises two blocks of apartments totalling 308 units, priced from RM400,000 per unit.
"We will launch five or six more projects in phases at our Bukit Jalil development over the next few years. Bukit Jalil is a mature township. It has a golf course and is located 15-20 minutes away from the city and we are confident of the take-up rate," Mah said.
BLand is one of the earliest developers in Bukit Jalil. It bought the 160ha land before the Sukom 98 games.
To date, it has used 64ha for an 18-hole golf course and a clubhouse to spearhead developments in the area.
BLand has been active in opening up new projects to sell, despite the slow market sentiments and economic uncertainties.
It had opened for sale five projects in the Klang Valley since the first quarter of this year.
They are Savanna 2 @ Bukit Jalil, comprising four blocks of condominium villas worth RM32.5 million, The Peak @ Taman Tar featuring 88 bungalow lots worth RM354.4 million, and Vasana 25 @ Seputeh Heights, consisting of three bungalows and 22 link villas worth RM150 million.
The other two projects are Hazel 2 @ Shah Alam, comprising 87 units of terraced houses worth RM32 million, and 1 Petaling @ Sg Besi, featuring a 21-storey building with 250 units of condominiums and 32 units of shoplots, worth RM73 million.
BLand has achieved 20-25 per cent sales from the properties, but for 1 Petaling, 50 per cent of the units have been sold, Mah said.
She believes that sales will improve, given that people are starting to look for new homes.
BLand has other projects like The Link @ Bukit Jalil, featuring three and four storey shop offices, Kinrara Mas Shop Apartment in Puchong, Seputeh Heights with 103 bungalow lots, and Kuantan Perdana, comprising 37 units of shopoffices.
The properties are worth around RM350 million and 80-95 per cent have been sold.
BLand, a Berjaya Corp Bhd unit, posted net loss of RM102.15 million last year, compared with net profit of RM1.11 billion a year ago due to the absence of exceptional gains.
Revenue, however, jumped nearly threefold to RM4.2 billion, mainly due to higher contribution from the gaming business arising from the full year consolidation effect of Berjaya Sports Toto Bhd.
By Business Times (by Sharen Kaur)
The company plans to launch a RM150 million residential project called "Covillea" in November, within its 160ha Bukit Jalil development in Kuala Lumpur.
Covillea comprises two blocks of apartments totalling 308 units, priced from RM400,000 per unit.
"We will launch five or six more projects in phases at our Bukit Jalil development over the next few years. Bukit Jalil is a mature township. It has a golf course and is located 15-20 minutes away from the city and we are confident of the take-up rate," Mah said.
BLand is one of the earliest developers in Bukit Jalil. It bought the 160ha land before the Sukom 98 games.
To date, it has used 64ha for an 18-hole golf course and a clubhouse to spearhead developments in the area.
BLand has been active in opening up new projects to sell, despite the slow market sentiments and economic uncertainties.
It had opened for sale five projects in the Klang Valley since the first quarter of this year.
They are Savanna 2 @ Bukit Jalil, comprising four blocks of condominium villas worth RM32.5 million, The Peak @ Taman Tar featuring 88 bungalow lots worth RM354.4 million, and Vasana 25 @ Seputeh Heights, consisting of three bungalows and 22 link villas worth RM150 million.
The other two projects are Hazel 2 @ Shah Alam, comprising 87 units of terraced houses worth RM32 million, and 1 Petaling @ Sg Besi, featuring a 21-storey building with 250 units of condominiums and 32 units of shoplots, worth RM73 million.
BLand has achieved 20-25 per cent sales from the properties, but for 1 Petaling, 50 per cent of the units have been sold, Mah said.
She believes that sales will improve, given that people are starting to look for new homes.
BLand has other projects like The Link @ Bukit Jalil, featuring three and four storey shop offices, Kinrara Mas Shop Apartment in Puchong, Seputeh Heights with 103 bungalow lots, and Kuantan Perdana, comprising 37 units of shopoffices.
The properties are worth around RM350 million and 80-95 per cent have been sold.
BLand, a Berjaya Corp Bhd unit, posted net loss of RM102.15 million last year, compared with net profit of RM1.11 billion a year ago due to the absence of exceptional gains.
Revenue, however, jumped nearly threefold to RM4.2 billion, mainly due to higher contribution from the gaming business arising from the full year consolidation effect of Berjaya Sports Toto Bhd.
By Business Times (by Sharen Kaur)
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2 comments:
Berjaya launch for apartments in Bukit Jalil type- Coveliia. Prices when said affordable has to be in the price region of RM 200,000 and not RM400,000. Area can be smaller as there are thousands of NPL from the bankers which has not been solved.Most likely there will be a property slump for high end properties within this coming year as predicted .Creating debtors by longer repayment from bankers does not help the economy as it create huge debts .This will create financila crisis. So developers must be on a watch out and not fall into the traps of bankers themselves as credit squeeze can happen anytime. House buyers given a 15 year prepayment of RM 200K is reasonable rather than 15 years on a period of RM 400k for 30 years ( Bankers point of view )
Very unhealthy as people has to work beyond retirement period .
This year end could be a heavy hit on the economy in development .
Berjaya launch for apartments in Bukit Jalil type- Coveliia. Prices when said affordable has to be in the price region of RM 200,000 and not RM400,000. Area can be smaller as there are thousands of NPL from the bankers which has not been solved.Most likely there will be a property slump for high end properties within this coming year as predicted .Creating debtors by longer repayment from bankers does not help the economy as it create huge debts .This will create financila crisis. So developers must be on a watch out and not fall into the traps of bankers themselves as credit squeeze can happen anytime. House buyers given a 15 year prepayment of RM 200K is reasonable rather than 15 years on a period of RM 400k for 30 years ( Bankers point of view )
Very unhealthy as people has to work beyond retirement period .
This year end could be a heavy hit on the economy in development .
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