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Saturday, April 2, 2011

Maju Assets: Unrivalled projects coming

KUALA LUMPUR: Maju Assets Sdn Bhd, a member of Maju Group plans to launch several projects, which it claims to be of unrivalled quality, that will help it be one of the country's top-notch developers.

The company - known for its Bandar Tasik Selatan township development in Cheras, Kuala Lumpur - has ample landbank in Kuala Lumpur, Johor and Malacca, which could rake in more than RM7 billion in gross development value (GDV).

Over the next three years, it will launch three projects worth some RM5.6 billion in Kuala Lumpur and Johor.

Next month it will launch Maju Linq @ Lingkaran Maju in Bandar Tasik Selatan, being the last piece of land for development at the township, which started in 1991.

The RM310 million Maju Linq will comprise six units of seven to eight-storey office blocks, each with built up of 50,000 sq ft and a 200,000 sq ft 29-storey office tower.

Maju Assets chief operating officer Fatimah Wahab said the company is bullish the project will sell out within 12 months.

She told Business Times in an interview recently that Maju Assets has received en bloc offers for the office blocks, which are worth RM160 million, collectively.

For the officer tower, it has received some requests from local corporate clients to buy the building, or lease it on long term.

Fatimah declined to name the clients, but said the offers range from RM100 million to RM130 million.

"Once completed by mid-2014, Maju Linq will be an iconic project in the area. It will be the tallest development in its surrounding," she said.

By the end of 2011, Maju Assets will launch Infinity, a mixed development in Sungai Besi, Kuala Lumpur, worth RM1.3 billion, featuring retail, small-office-home-office, serviced apartments and office towers.

In Johor, it will launch a high-end development on 520ha in Ulu Tiram, earliest by the end of 2013. The eco-friendly project, which is under planning, is expected to generate some RM4 billion in GDV, Fatimah said.

By Business Times

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