Focal Aims is looking to expand its landbank in Klang Valley for development projects, when its maiden project is completed by 2013.
“We will either buy land to develop it ourselves or set up a joint venture company between us and the land owner for the project,” said Yee Yok Sen, Group Executive Director of Focal Aims, in an interview with StarBiz.
The company will try to replicate the recent success of Saujana O-Lot, which is also located in Klang Valley.
The project, which comprises high-end residential properties on a 10.48 ha plot of land in Mukim Damansara in the Petaling district, is in its final stages.
Phase one’s 48 units are on sale from RM1.5 million each, while all the units in phase two have been sold out. The last phase, with a gross development value (GDV) of RM105 million, comprises 37 units of semi-detached houses and four bungalows, with prices starting from RM2.5 million.
“We have many repeat buyers from our phase one who also purchased the units in phase two,” he said.
Focal Aims Holdings posted a RM3.96 million net loss on the RM63.91 million revenue in 2010, against a RM8.33 million net loss on the RM30.95 million revenue in 2009.