City & Country: Briefs

KYM plans foray into KL property market
Budding property developer KYM Holdings Bhd is seeking fo expand the firm’s real estate income contribution to 30% of revenue within two years.KYM managing director Datuk Raymond Chong Thin Choy says the company, a packaging-products manufacturer, is scouting for more land in Kuala Lumpur where it intends to develop high-end residential and commercial properties. Chong told reporters at KYM’s shareholders meeting on April 13 that KYM is open to land acquisition or joint ventures with landowners. Property development made up less than 1% of KYM’s revenue in FY ended January 2010.

Walker Corp invests RM1.7 billion in waterfront project
Australian property developer Walker Corp is investing RM 1.7 billion in the development of the first exclusive waterfront project in the eastern corridor of Iskandar Malaysia. Senibong Cove is spread over 208 acres of freehold land on the banks of Sungai Lunchoo and the Straits of Johor, the company said in a statement on April 13. The project, comprising over 2,000 homes — including bungalows with private berths for boats, semidees and terraced units — will be developed in phases over 10 to15 years.

Up to 70% of Axis Atrium Mall taken up
The developer of the Axis Atrium Mall in Pandah Indah, Kuala Lumpur, says 70% of the 318 retail units within the 218,000 sq ft mall have been leased out. RK Group Holdings Sdn Bhd managing director Datuk Roslan Khalid said on April 12 the RM75 million  development has received strong interest from retailers and the surrounding community since it opened 2½ weeks ago. The mall is part of the RM270 million Axis Pandan urban redevelopment project in the Pandan-Ampang area.

Putrajaya Holdings plans RM700 million launches
Putrajaya Holdings Sdn Bhd, the master developer of Putrajaya, plans to launch some RM700 million worth of properties there this year. Putrajaya Holdings CEO Datuk Azlan Abdul Karim said on April 12 the company is planning several projects comprising office blocks. He said Putrajaya Holdings hopes to lure more multinational companies to set up base in Putrajaya.

OSK Property to launch RM700 million worth of projects
OSK Property Holdings Bhd plans to launch some RM700 million worth of real estate this year. Executive director and CEO Gerard Tan Boon Chuan said on April 14 the planned launches comprise mostly projects in the Klang Valley. These include Sutera Damansara in Sungai Buloh and Bangi Lakehill Villas, besides proposed projects in Jalan Yap Kwan Seng, Kuala Lumpur and Cyberjaya. In Negeri Sembilan, OSK Property also intends to unveil its Mont Jade and Seremban 3 projects in Seremban.

This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 802, April 19-25, 2010


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