Gamuda Land targets RM1.3 billion sales in current financial year

KUALA LUMPUR: Gamuda Land Sdn Bhd, a unit of Gamuda Bhd, is targeting sales of RM1.3 billion from domestic and overseas projects for its financial year ending July 31, 2011, surpassing last year's sales of RM800 million.

Managing Director Chow Chee Wah said the projection was based on the bullish property market and the company's current sales which had already hit RM860 million.

"The current financial year should see record sales for Gamuda Land," he told reporters after launching Madge Mansions, a 52-unit luxurious condominium project in Jalan Madge parallel to Jalan Ampang, here on Thursday April 7.

Chow said the bulk of the group's revenue would come from the sale of its Bandar Botanic project in Bukit Tinggi, Klang, while its projects in Vietnam were expected to start contributing to the bottomline beginning next month.

Meanwhile, Madge Mansions is expected to be completed by Jan 2014, an upmarket low-rise condominium with a gross development value of RM320 million.

The smallest unit has a floor space of 3,900 sq ft and is retailing for RM4.95 million while the largest unit, which is more than double, at 8,379 sq ft has a price tag of  RM11.33 million.-Bernama