MRT and plantation segments to drive MKH’s earnings
MKH has the advantage of low land cost within the growing Kajang/Semenyih corridor, which will give it greater pricing flexibility.
MKH has the advantage of low land cost within the growing Kajang/Semenyih corridor, which will give it greater pricing flexibility.
Named Setia City Residences, it is a part of the developer’s integrated development, Setia City in Setia Alam. S P Setia plans to launch the project in the fourth quarter of this year.
The surge of new developments has buoyed the Seri Kembangan secondary market.
The award is for the proposed earthworks under Phase 1 of the Lifestyle Quarter of the Tun Razak Exchange mixed development. The scope of works consists of earthworks, rock probing and grouting works.
Overall, the average distribution per unit (DPU) for six REIT stocks under our coverage grew by 4.7% y-o-y.
With this smallish contract in the bag, Mudajaya’s year-to-date (YTD) job wins stand at RM533 million.
It is worth noting that properties in some areas have not seen growth in value for at least two consecutive quarters.
The landscape in Seri Kembangan is fairly diverse, with most of the high-rises catering for the middle to lower-middle segment.
The gated Ferringhi Residence, to be developed in three phases, is a freehold development comprising low-rise condo villas and high-rise resort condos on 61 acres of elevated land in Batu Ferringhi.
In terms of YTD new contracts, Kimlun has clinched RM554 million worth of new contracts, which is on track with our full-year new contracts assumption of RM700 million.