Property developer Emkay Group is embarking on a five-year plan to further develop mixed property projects in Cyberjaya.
Chairman Tan Sri Mustapha Kamal Abu Bakar said the plan, to run from 2012-2016, would see an additional 3.1 million sq ft of office space development.
There will also be 3,250 units of various types of residential units, 856 of commercial units and a light industrial area for automotive support service.
“The total gross development value for this period of development will be about RM3.8bil,” he said yesterday at a media briefing.
Mustapha said the group's commitment to pump in more investments in Cyberjaya showed its commitment and confidence in Cyberjaya's progress of development.
“Together with other notable stakeholders, we have managed to position Cyberjaya appropriately in tandem with our Government's aspiration towards the realisation of Malaysia's first intelligent city,” he said.
Emkay Group had invested some RM1.3bil from 2006 to 2011 in developing office, commercial and residential units.
The projects provide a total net floor area of 1.9 million sq ft of office space, 214 commercial units and 452 residential units.
Mustapha said the group made a profit of RM213mil from the RM1.3bil invested from 2006 until 2011.
Emkay's development of residential units will see an increase of seven times with its plan to build another 3,250 units in the next five years compared with only 452 units built between 2006 and 2011.
“It is anticipated that an additional 7,488 residential units will be offered in the near future, which is capable of housing some 32,000 residents,” he said.
He added that the increase in supply of residential property in Cyberjaya would further boost the development of Cyberjaya as a liveable city.
Mustapha also said the group planned to build affordable homes in Cyberjaya under Projek Perumahan Rakyat 1Malaysia (PRIMA) after being given the nod by the Perak state government to build affordable homes under PRIMA in the state. - By Edy Sarif (The Star)
Emkay banking on RM3.8bil Cyberjaya project
Mah Sing notches RM2.26b property sales
Lifestyle developer Mah Sing Group Bhd has reported a RM168.6 million net profit on the back of RM1.6 billion revenue for its financial year 2011.
This represents 43 per cent and 41 per cent increases respectively against the net profit and revenue achieved in 2010.
Property development projects that contributed to Mah Sing's revenue and profit during the year under review included Garden Residence in Cyberjaya, Kinrara Residence in Puchong, Perdana Residence 2 in Selayang, M-Suites in Jalan Ampang, One Legenda, Hijauan Residence and Bayu Sekamat in Cheras, and Icon Residence in Mont' Kiara.
The group closed 2011 with some RM2.26 billion locked in property sales, surpassing the previous year's full sales target of RM2 billion.
Group managing director and chief executive officer Tan Sri Leong Hoy Kum said the 2011 financial performance marks a new record high and represents more than 46 per cent improvement from the RM1.55 billion achieved in 2010.
As for this year, Leong said the group is on track to meet its sales target of RM2.5 billion. "We achieved about RM338 million as at February 15," he said in a statement.
Meanwhile, Mah Sing also intends to roll out at least RM3 billion worth of property launches this year to achieve its sales target.
Leong said the greater Kuala Lumpur projects are expected to make up the bulk (68 per cent) of the launch targets, while Penang and Johor Baru are expected to contribute 20 per cent and 12 per cent respectively.
"We have a clear focus on residential projects this year, and our high-rise and landed residential projects make up 75 per cent of our launch targets.
"Commercial projects are expected to be a strong contributor, at 22 per cent of launch targets, and industrial projects to make up the balance 3 per cent," he said.
Leong said close to 70 per cent of Mah Sing's launches will come from products with an average unit price of RM1 million and below, in view of the current market sentiment and pent-up demand in this segment.
Launches planned for this year include new and existing residential projects such as Kinrara Residence, Garden Residence 2 in Cyberjaya, Garden Plaza in Cyberjaya, M-City in Jalan Ampang, Icon Residence in Georgetown. - By Business Times
