OSK Property plans mixed devt in PJ, GDV of RM1b (6661)

KUALA LUMPUR: OSK Property Holdings Bhd plans a mixed development in Damansara Jaya, Petaling Jaya, with a gross development value (GDV) of RM1 billion.
Its executive director, Tan Sri Ong Leong Huat, said on Friday the company has appointed Beijing Urban Construction Group (M) Sdn Bhd as the main contractor for the project, Atria.
"The entire construction will be completed in two phases by end-2013.
"Phase
one comprises the four-storey Podium Shopping Mall and phase two will
be the completion of the entire remaining development works including
the two 16-storey small office flexi office (SOFO) suite towers.
"The
buildings are estimated to start operation in early 2014," he said
after signing a memorandum of agreement with Beijing Urban Construction
here.
Also present were OSK Property executive chairman, Datuk Nik Mohamed Din;
Beijing Urban Construction general manager (Overseas Department) Li
Daosong; and economic counsellor of the Chinese embassy here, Xuan
Guoxing.
Ong said the company has eight ongoing projects, including the Atria.
Five
of them were in Klang Valley and one each in Seremban and Sg Petani, he
said. "The total GDV is valued approximately at over RM5 billion," he
said.
He said the company has RM800 million in unbilled sales
and they were expected to provide sustainable earnings and growth in
the next two years.
Beijing Urban Construction is one of the largest international construction companies owned by the Chinese government.
It
has completed a few famous projects around the world including the
Bird-Nest (Olympic Stadium) and the mass rapid transit system in Iran.
- Bernama

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