Glomac to make foray into India
By BERNAMA
BANGKOK: Glomac Bhd is planning a mixed township in Pune, India's biggest second-tier city, and the emerging “Detroit of India”.
Managing director Datuk Fateh Iskandar Mohamed Mansor said the group signed a memorandum of understanding with Vescon, a Pune-based developer in April this year, and hoped to formalise all arrangements by end of this year.
He said the project, with a development value of more than RM800mil, would be located on a 30-acre site.
“Our management team had been going to almost all the major cities in India for the past three years to seek the right business and partner. Maybe we are slow compared to other major developers in Malaysia but we want to be sure before setting our foot overseas,” Fateh Iskandar said in an interview here.
Located in the state of Maharashtra, Pune is the eighth largest city with a population of 4.5 million. Many automobile, software and information technology (IT) companies are setting up their plants there.
Glomac ventured overseas in 2006 with the purchase of an office building costing A$30.5mil (about RM90mil) in Melbourne, Australia. It also set up a joint venture with Thailand's Warehouse Asia Alliance Co Ltd to build a RM110mil warehouse in the Samuprakarn province near here, which was leased to pharmaceutical company Diethelm Ltd for 15 years. For the financial year ended April 30, Glomac announced a pre tax profit of RM50.7mil and net profit after minority interest of RM32.2mil, on revenue of RM293.2mil compared with RM285.5mil previously.
He said the group was also looking at other opportunities in the region, with focus on developing countries like Vietnam.
To date, the group has completed about 10,000 residential and commercial units worth more than RM3.5bil. With about 1,000ha, the group's interest was currently mostly in the Klang Valley area, as well as in Malacca and Johor.
Wednesday, July 11, 2007
Good response seen for green homes
Good response seen for green homes
By THE STAR
PUTRAJAYA: Half of Putrajaya Perdana Bhd's D'Heron at the Lakes should be sold by the time the company launches the “green homes” in September, said senior general manager Mak Hong Seng.
The construction and property developer's latest project comprises 19 energy-efficient bungalows on 6.4 acres overlooking a lake in Putrajaya's Precinct 16.
Mak said at a media preview yesterday the bungalows would be equipped with building integrated photovoltaic (BIPV) panels to generate electricity to supplement owners' consumption.
The homes are made energy-efficient as heat transmission into the buildings is minimised by having large roof overhangs, thermally insulated roof, walls and low-emission glass windows.
“We have started constructing four units, of which some are already sold or to be turned into a show unit. The remainder will be available for sale once construction of the show unit is completed next month.
Mak Hong Seng
“The bungalows, with lot sizes of 10,000 sq ft to 16,000 sq ft, will have built-up areas ranging between 4,604 sq ft and 4,897 sq ft. There are five designs to choose from,” he added.
The bungalows are priced between RM2.9mil and RM3.7mil. The entire project has a gross development value (GDV) of RM54mil.
Putra Perdana Development Sdn Bhd general manager Bu Teng Cheng hoped all the units would be sold off in six months. Putra Perdana Development is a wholly owned subsidiary of Putrajaya Perdana.
“About 30% of the units are reserved for civil servants and we hope to attract retirees for these homes,” he added.
Mak said the company also welcomed purchasers from other countries. As D'Heron at the Lakes is a niche development, the company will arrange special preview for selected groups of buyers.
Putrajaya Perdana has a landbank of 136 acres in Putrajaya, with 113 acres in Precinct 16 and the rest in Precincts 2 and 3. It also has small parcels of land in Malacca.
Mak said the land in Precinct 16 would last between five and eight years with an estimated GDV of RM700mil.
“The company is focused on constructing energy-efficient buildings, so property development accounts for a very small percentage of revenue. For the financial year 2008, we are targeting for property development to contribute 10% of revenue,” he said.
Bu said as work on D'Heron at the Lakes took off, 49 more energy efficient bungalows were being planned in Precinct 16. Good response seen for green homes
By THE STAR
PUTRAJAYA: Half of Putrajaya Perdana Bhd's D'Heron at the Lakes should be sold by the time the company launches the “green homes” in September, said senior general manager Mak Hong Seng.
The construction and property developer's latest project comprises 19 energy-efficient bungalows on 6.4 acres overlooking a lake in Putrajaya's Precinct 16.
Mak said at a media preview yesterday the bungalows would be equipped with building integrated photovoltaic (BIPV) panels to generate electricity to supplement owners' consumption.
The homes are made energy-efficient as heat transmission into the buildings is minimised by having large roof overhangs, thermally insulated roof, walls and low-emission glass windows.
“We have started constructing four units, of which some are already sold or to be turned into a show unit. The remainder will be available for sale once construction of the show unit is completed next month.
Mak Hong Seng
“The bungalows, with lot sizes of 10,000 sq ft to 16,000 sq ft, will have built-up areas ranging between 4,604 sq ft and 4,897 sq ft. There are five designs to choose from,” he added.
The bungalows are priced between RM2.9mil and RM3.7mil. The entire project has a gross development value (GDV) of RM54mil.
Putra Perdana Development Sdn Bhd general manager Bu Teng Cheng hoped all the units would be sold off in six months. Putra Perdana Development is a wholly owned subsidiary of Putrajaya Perdana.
“About 30% of the units are reserved for civil servants and we hope to attract retirees for these homes,” he added.
Mak said the company also welcomed purchasers from other countries. As D'Heron at the Lakes is a niche development, the company will arrange special preview for selected groups of buyers.
Putrajaya Perdana has a landbank of 136 acres in Putrajaya, with 113 acres in Precinct 16 and the rest in Precincts 2 and 3. It also has small parcels of land in Malacca.
Mak said the land in Precinct 16 would last between five and eight years with an estimated GDV of RM700mil.
“The company is focused on constructing energy-efficient buildings, so property development accounts for a very small percentage of revenue. For the financial year 2008, we are targeting for property development to contribute 10% of revenue,” he said.
Bu said as work on D'Heron at the Lakes took off, 49 more energy efficient bungalows were being planned in Precinct 16. Good response seen for green homes
Putrajaya Perdana eyes higher real estate income
Putrajaya Perdana eyes higher real estate income
By BUSINESS TIMES
BUILDER Putrajaya Perdana Bhd's (PPB) real estate income may constitute up to a tenth of revenue in fiscal 2008 as it develops more commercial properties and buys more land.
Its commercial units may be partially rented out, company officials say. Leasing out properties allows it to earn recurring income and shield itself from a cyclical construction sector.
"For next year, we are targeting up to 10 per cent. We are pretty strong in commercial development," PPB senior general manager Mak Hong Seng said at a media preview of its "D'Heron at the Lakes" bungalows in Putrajaya yesterday.
"We can adopt the build-lease-transfer mode for a client who wants a building, but does not have the financial resources," Mak added.
Real estate accounted for one per cent of main board-listed PPB's fiscal 2007 turnover, according to its filings to Bursa Malaysia.
Going forward, PPB, a 50.8 per cent subsidiary of real estate group Eastern and Oriental Bhd, also plans to acquire more land outside the Klang Valley. Mak did not specify the locations.
PPB's present landbank includes some 94ha across Putrajaya and Malacca.
Meanwhile, the developer aims to sell up to half of its RM54 million "D'Heron at the Lakes," bungalows upon its launch this September.
The ongoing project comprises 19 energy-efficient homes on a three-hectare freehold site in Putrajaya's Precinct 16.
The two-storey units, priced from RM2.9 million each, will have built-ups of between 423.6 sq m and 450.5 sq m.
PPB's financial year to March 2007 net profit rose 18 per cent to RM38.5 million, or 29.9 sen a share. Revenue grew 23 per cent to RM537.3 million.
Its current real estate jobs here include the "Danau Ayu Townvillas" and "Danau Point" commercial properties.
PPB's construction portfolio, meanwhile, includes the upcoming RM64.6 million Suruhanjaya Tenaga head-quarters in Putrajaya, and the RM186 million Malaysia Technical University's main campus in Malacca.
Shares of PPB closed unchanged at RM2.13, valuing the company at RM287.6 million yesterday. The stock's price had risen 22 per cent so far this year compared with the benchmark Kuala Lumpur Composite Index's 25 per cent gain.
By BUSINESS TIMES
BUILDER Putrajaya Perdana Bhd's (PPB) real estate income may constitute up to a tenth of revenue in fiscal 2008 as it develops more commercial properties and buys more land.
Its commercial units may be partially rented out, company officials say. Leasing out properties allows it to earn recurring income and shield itself from a cyclical construction sector.
"For next year, we are targeting up to 10 per cent. We are pretty strong in commercial development," PPB senior general manager Mak Hong Seng said at a media preview of its "D'Heron at the Lakes" bungalows in Putrajaya yesterday.
"We can adopt the build-lease-transfer mode for a client who wants a building, but does not have the financial resources," Mak added.
Real estate accounted for one per cent of main board-listed PPB's fiscal 2007 turnover, according to its filings to Bursa Malaysia.
Going forward, PPB, a 50.8 per cent subsidiary of real estate group Eastern and Oriental Bhd, also plans to acquire more land outside the Klang Valley. Mak did not specify the locations.
PPB's present landbank includes some 94ha across Putrajaya and Malacca.
Meanwhile, the developer aims to sell up to half of its RM54 million "D'Heron at the Lakes," bungalows upon its launch this September.
The ongoing project comprises 19 energy-efficient homes on a three-hectare freehold site in Putrajaya's Precinct 16.
The two-storey units, priced from RM2.9 million each, will have built-ups of between 423.6 sq m and 450.5 sq m.
PPB's financial year to March 2007 net profit rose 18 per cent to RM38.5 million, or 29.9 sen a share. Revenue grew 23 per cent to RM537.3 million.
Its current real estate jobs here include the "Danau Ayu Townvillas" and "Danau Point" commercial properties.
PPB's construction portfolio, meanwhile, includes the upcoming RM64.6 million Suruhanjaya Tenaga head-quarters in Putrajaya, and the RM186 million Malaysia Technical University's main campus in Malacca.
Shares of PPB closed unchanged at RM2.13, valuing the company at RM287.6 million yesterday. The stock's price had risen 22 per cent so far this year compared with the benchmark Kuala Lumpur Composite Index's 25 per cent gain.
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