KUALA LUMPUR (Sept 22): Lifestyle property developer Land and General Bhd (L&G), which has cash and cash equivalents of more than RM300 million, is looking for new land bank in the country’s top three property hotspots – the Klang Valley, Johor and Penang.
L&G Managing Director Low Gay Teck said the group has appetite to expand its land bank in these areas for future housing developments.
"To date, our gearing ratio stands at 0.17 times. For each acquisition, it will involve cash as well as bank borrowings," he told a press conference after L&G’s annual general meeting here today.
L&G, the master developer of Bandar Sri Damansara here, currently owns a 2,500 acres estate land in Lembah Beringin, Selangor, which will be converted into residential land.
It also owns three tracts of freehold land held for development in Sungai Buloh, Selangor; Tebrau, Johor; and Sungai Petani, Kedah.