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Wednesday, December 16, 2009

SKN Land plans developments worth RM450m

SKN Land & Development Sdn Bhd, a developer of high-end properties, plans to develop two property projects with a combined gross development value (GDV) of about RM450 million in Kuala Lumpur.

Chairman Mohd Rosly Hussein said one of the projects is a mixed development on a 1.2ha site in Desa Pandan and another is a residential development at Jalan Yap Kwan Seng.

The GDV for the Desa Pandan project is about RM350 million, while the other project has a RM100 million GDV.

"We have already submitted our plans to the Kuala Lumpur City Hall and are waiting for approvals," he told a news conference after the signing of partnership agreement between Asian Finance Bank Bhd and Crest Worldwide Resources Sdn Bhd (CRW) in KL yesterday.
CRW, a member company of SKN Land, is currently developing Crest Jalan Sultan Ismail - a mixed development comprising a 44-storey luxury residence tower and a 26-storey Grade A office tower with a GDV of RM500 million.

Mohd Rosly said the Desa Pandan project will be developed on a vacant land, while the company will demolish the existing building which houses the company's office at Yap Kwan Seng to make way for the residential project there.

SKN Land currently has a 2.8ha landbank in the city centre.

By Business Times

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