United Malayan Land Bhd (UMLand) has announced a slew of projects with a combined gross development value (GDV) of RM 1 billion this year in order to sustain its growth.
The majority of the projects will be launched in Iskandar Malaysia, Johor, said group CEO Chia Lui Meng, adding that UMLand had over 720 ha of undeveloped plots in its landbank, with 90% of these located in Iskandar Malaysia.
“We have been on an aggressive landbanking mode in the last few years, particularly within Iskandar Malaysia where we see immense economic potential,” he said. The group’s landbank of 720 ha is expected to translate into an estimated GDV of RM 6.7 billion over the next six to eight years.
Projects in Johor are expected to contribute almost 70% of UMLand’s revenue for the year ending 31 December 2012, said Chia. As of May, the group had recorded RM 650 million in sales and RM 260 million in unrecognised sales.
Read more:
http://www.jacklimproperty.com/malaysia-umland-announces-rm-1-billion-worth-of-projects-for-2012/
http://www.jacklimproperty.com/malaysia-umland-announces-rm-1-billion-worth-of-projects-for-2012/
Quote from CommercialAsia.com 27 June 2012
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