The report said projects such as the extension of the light rail transit (LRT) in the Klang Valley to the Second Penang Bridge contributed to the economy and directly benefited a host of construction and construction-related companies but required a lot of borrowed money made worse by ballooning costs.

Its 1QFY20 core net profit only grew 1% year-on-year, as better showing from property (strong sales and firm margins in Vietnam) was offset by weaker performance from construction (the downsized Mass Rapid Transit Line 2 [MRT2] contract) and concessions (the absence of contribution from Syarikat Pengeluar Air Sungai Selangor Sdn Bhd [Splash] following its disposal).

Property developers are also gearing up to make 5G a key selling point of their upcoming and future projects such as Gamuda Land’s Gamuda Cove in Sepang, Selangor and UOA Group’s Kuala Lumpur Digital City, a proposed integrated development near Jalan Ipoh that aspires to be a 5G smart city.

The land “forms half” of Boh Plantations’ estate in Kuala Langat located near Bandar Saujana Putra.

"Most of the attractions we have selected will either be the world's first, Asia's first or Malaysia's first...For example, there will be the first water ride with VR (virtual reality) and the first interactive slide in Malaysia."

Buyers are able to lock in today’s property prices for the next five years and secure a 100% loan margin when they are ready to purchase, said the developer.

"Last year we were able to secure RM3.1billion in sales. For the past four years we have recorded a CAGR (combined annual growth rate) of 27%.”
 

The company targets to have at least 5,000 users for the GL Mobile app by end-2019

With sustained strong overseas property sales and an expansion in local sales (more launches for Gamuda Cove, Gamuda Gardens and twentyfive.7 townships), Gamuda is targeting sales of RM4 billion for FY20.

The interchange leads straight into the township's 372-acre commercial business district, where the sales gallery for the project is located.