Kumpulan Hartanah bullish on growth this year

SHAH ALAM (June 21): Kumpulan Hartanah Selangor Bhd (KHSB), the property arm of Kumpulan Darul Ehsan Bhd (KDEB), is optimistic of growth this year as the company embarks on the development of prime commercial land in Petaling Jaya, said chairman Raja Idris Raja Kamarudin.

He said joint development plans for the 3.84ha land in the heart of Section 14, Petaling Jaya, are currently being finalised.

"The development of shop offices, small office home office (SoHo), office tower and serviced apartments will begin by year-end and contribute close to RM1 billion in gross development value (GDV) over seven years. This will build a strong foundation for the company's continuous growth," he told a press conference after KHSB's AGM.

Raja Idris said several proposals have been received for the development of 2,000ha in Bestari Jaya (Batu Berjuntai) in Selangor. He said KHSB's ongoing projects in Bandar Baru Salak Tinggi and the Selangor Halal Hub in Pulau Indah are showing positive results.

The construction of 99 units of single-storey shops in Bandar Baru Salak Tinggi is progressing according to schedule and is expected to generate a GDV of about RM25 million.

Raja Idris said the group strives to remain competitive by diligently seeking ways to enhance economic growth and reinforcing operational efficiency. "The strategies to improve the group's overall performance through prudent evaluation of opportunities to unlock the value of assets will bear fruit within the next three years.

"Strategies being implemented include unlocking the economic value of our assets in Bestari Jaya, Pulau Indah and Section 14 in Petaling Jaya," he said. — Bernama

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