Oct 28, 2011
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Malaysian property developer Glomac Berhad plans to unveil up to RM1.3 billion worth of projects in the next 12 to 18 months.

"We have more than RM3.8 billion worth of projects that are still to come from now on," said Datuk FD Iskandar, Group Managing Director and CEO of Glomac Berhad.

One of these projects is a freehold commercial development in Cyberjaya, which will be launched at the end of this month.

The land parcel for Glomac Cyberjaya 2 was purchased following the successful launch of its maiden project in Cyberjaya.

"To further capitalise the momentum and success of Glomac Cyberjaya Phase 1 & 2 and to continue to develop more shop offices, we acquired the adjacent second plot of land due to its successful take-up rate," explained Iskandar.

Situated on part of the 3.64 ha site, Glomac Cyberjaya Phase 1 & 2 features 63 units of three-storey shop offices that were fully sold. The project is expected to be completed at the end of this year.

Glomac Cyberjaya 2 will comprise 55 units of three-storey, three-and-a-half and four-and-half storey of shop offices, as well as a 24-storey office tower.

Each unit has a built-up area of 3,300 sq ft and onwards, with price ranging from RM1.29 million onwards.

Meanwhile, Glomac Bhd fetched RM100 million worth of property sales in the first quarter of financial year 2012.

FD Iskandar noted that Glomac’s property sales in FY12 ending 30 April, could be almost similar to the RM418 million recorded in FY11.

"This moment in time, the upcoming projects will be what we are concentrating on," he added.

To contact the journalist, you may send your message to editor@homeguru.com.my  

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