#Update* Land & General eyes more land purchases

KUALA LUMPUR: Land & General Bhd (L&G), the developer of the Bandar Sri Damansara township here, plans to acquire more land in the Klang Valley to undertake more commercial and residential projects.

Managing director Low Gay Teck said on Wednesday, Oct 21 the land purchases would be financed via the company's internal funds and bank loans.

"It's a mix... commercial and residential," Low said at the groundbreaking ceremony for L&G's recently-launched 8trium @ Sri Damansara, a mixed commercial initiative.

The estimated RM160 million project on a 1.1ha (2.65 acres) of freehold land, comprises office and retail components. It is due for completion in 2012.

Tower 2 of its integrated development, 8trium has been 90% sold since its launch in July.

8trium is the first mixed development of its kind in Bandar Sri Damansara, comprising of a two-storey 100,000 square feet retail podium and 260 units of office suites contained in two business suite towers.

The company has also commenced sales of the project’s second business suite tower, Tower
1, with over 20% of the units sold todate.

Low also said the demand for 8trium however showed that Bandar Sri Damansara was more than just a residential township.

Low added construction of 8trium was on track and slated to complete by the first quarter
of 2012.
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