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Thursday, November 19, 2009

Plenitude planning six projects worth RM280mil

KUALA LUMPUR: Property developer Plenitude Bhd plans to launch six new projects in its current financial year ending June 30, 2010, said executive chairman Elsie Chua.

“The new developments will be in the Klang Valley, Johor Baru and Sungai Petani with a gross development value (GDV) of about RM280mil, consisting mixed developments,” she said yesterday after the company’s AGM.

From left: Tan Seng Chye, Elsie Chua and Plenitude Bhd director Zukarnine Shah at the company AGM on Wednesday.

Chua said the company’s Taman Desa Tebrau project in Johor Baru would be among the new developments, where 55 units of bungalows with a GDV of about RM55mil would be launched probably by the end of this year.

Plenitude has also planned for the development of 248 units of double storey houses in Taman Putra Prima in Puchong, scheduled to be launched in March next year.

“Apart from the new launches, we are also focusing on our ongoing projects such as developing double-storey semi-Ds at Lot 88 and affordable terraced houses at Bandar Perdana in Sungai Petani, Kedah. We are also focusing on our luxury semi-Ds and a resort-style high rise condominium at Batu Feringhi in Penang,” she said.

Chua added that although Plenitude had embarked on more “exciting” projects, it would still focus on building affordable homes.

Meanwhile, executive director Tan Seng Chye said Plenitude would be interested in developing an office tower in the Klang Valley if it could find the land for it, adding that it was also open about expanding its landbank in other areas.

“Our focus will continue to be in Johor Baru, the Klang Valley and Penang. However, if we managed to find some other viable places, then we may go for them,” he said, noting that Plenitude currently had more than 1,800 acres of strategic development land.

On the outlook of the property industry, Tan observed that there had been some pick-up in the market starting from the second quarter of this year, and said that “we are cautiously optimistic with the outlook next year and with some plans by the Government to support the industry, it will help a lot to (lift) the market.”

By The Star (by Edy Sarif)

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