Bolton targets landbank acquisition with potential GDV of RM500 million

KUALA LUMPUR: Bolton aims to acquire a landbank with a potential gross development value (GDV) of RM500 million during FY2010/11, said the Group's executive chairman Datuk Azman Yahya on Friday, Aug 6.

"We will be looking for land in the Klang Valley and Penang," said Azman in a media briefing.

There is a RM195 million warchest set aside for land acquisition and working capital Azman revealed.

The Group aims to collect RM500 million worth of sales for four projects this year.

The Wharf in Puchong, a commercial development on 15 acres with a GDV of RM650 million will be launching soon, the Group said, but declined to give a firm date.

Arata of Tijani is a three-block 10-storey condominium project with 100 units. Launched on July 24, the RM155 million GDV project recorded 67% sales and booking, with selling prices ranging between RM736,000 and RM2 million per unit. The units sizes are from 893 sq ft to 2,400 sq ft.

"Half of the sales and bookings for Arata have been taken up by foreigners, mainly from Hong Kong," said the
executive director Chan Wing Kwong.

Six Ceylon at Jalan Ceylon in Kuala Lumpur has a GDV of RM202 million. It is a single 33-storey tower with 215 units, which sizes range from 696 sq ft to 1,555 sq ft. Prices are from RM536,000 to RM1.53 million. Ninety-eight percent of units have been booked, and there is a waiting list of other potential buyers.

Fiftyonegurney is another project on Jalan Perumahan Gurney comprising 71 apartment units that feature a carport-in-the-sky. Built-up of the units are from 3,000 sq ft to 8,000 sq ft, and are selling for prices between RM2.6 million to RM7 million. It has a GDV of RM220 million.
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