Hua Yang targets RM815m worth of property launches in FY2013

KUALA LUMPUR: Property developer, Hua Yang Bhd, is geared towards launching RM815 million worth of property projects in the financial year ending March 31, 2013, and has allocated over RM300 million for
land acquisitions.

Chief Executive Officer and Executive Director Ho Wen Yan said they have lined up a series of launches in this financial year and "we are on track to achieve our targeted property launches that are worth RM815 million.

"So far, we've launched a few property projects worth RM212 million in the current financial year, spanning across Klang Valley, Johor and Perak, he said in a statement On Aug 30.

The company had in the first quarter of financial year 2013 soft launched its first phase at Taman Pulai Hijauan in its 56 hectares (140 acres) mixed development township, with RM380 million total gross development value (GDV) Ho said Hua Yang would be launching RM160 million development projects in the Desa Pandan area soon comprising service apartments and retail units and at Section 13 in Shah Alam consisting of service apartments and retail units worth RM175 million.

Currently, the company has a total undeveloped 306.4 hectares (766 acres) land bank, with RM2.2 billion estimated GDV, which can sustain its property development ventures for the next six to eight years. — Bernama