Pasdec to launch RM252m projects

KUALA LUMPUR: Main Market-listed Kuantan-based property developer Pasdec Holdings Bhd plans to launch at least RM252 million worth of properties in Pahang this year.

These include integrated developments Pasdec Persona, Pasdec Perdana and Pasdec Idaman as well as upscale mixed commercial developments Pasdec Makhota and Pasdec Avenue, its chief executive officer Datuk Mohd Khairuddin Abdul Manan (picture below) told The Edge Financial Daily in a recent email interview.

In Kuantan, first to be launched would be Pasdec Persona on over 19.46 acres of leasehold land. With an estimated gross development value (GDV) of RM41.3 million, it is slated for launch in July. It will be developed in three phases and feature 66 semi-detached homes, 90 terraced houses and 15 shop houses upon completion.

Two more developments in Kuantan, namely Pasdec Makhota with a GDV of RM130 million and Pasdec Avenue with a GDV of RM64 million, are scheduled to launch in September.

Pasdec Makhota will also be built over three phases on 57.4 acres of leasehold land while Pasdec Avenue will be in two phases built on 2.95 acres of leasehold land.

Over in Temerloh, the 9.52-acre Pasdec Perdana and the eight-acre Pasdec Idaman are expected to be launched in October and November respectively, Khairuddin said.

The former will offer 105 single-storey semi-detached houses and double-storey terraced homes while the latter features 106 double-storey semi-detached homes and two-storey linked houses.

The group is currently working on RM2.36 billion worth of projects in the state, including its flagship Bandar Putra township, he said.

Bandar Putra, which has a GDV of RM1.3 billion, is being developed in five phases on 417 acres of freehold land. Its first phase, which was launched in Feb 2008, has seen 85% of its residential units taken up, he said.

The first phase contains 209 medium low-cost houses, 150 single-storey, one-and-a-half storey and double-storey houses as well as 82 single-storey, one-and-a-half storey and double-storey semi-detached houses. The units are priced from RM146,888 for a terraced home and RM245,888 for a semi-detached house.

The group expects to launch the second phase of Bandar Putra, comprising 222 link houses and 54 semi-detached homes with a GDV of RM90 million, in July.

Its other ongoing projects are the RM715 million residential development Pasdec Damansara on 535 acres, the RM327 million and Baluk Perdana township comprising 222 semi-detached houses and shop lots on 220 acres.

Pasdec has also moved into niche developments such as its Astana Villa project which features 10 villas with a GDV of RM7.6 million, Villa10@Pelindung comprising nine bungalows with a GDV of RM7.1 million and Vista Verde featuring 81 linked houses with a GDV of RM8.05 million.

“We are based in Kuantan, but are currently looking for opportunities to venture outside Pahang,” Khairuddin said.

Founded in 1965, Pasdec’s other interests are project management, resort and property management, civil and building construction, brick manufacturing and trading in construction materials.

This article appeared on the Property page, The Edge Financial Daily, January 21, 2011.