Land & General to launch 2 condominium projects, GDV RM500m

Published: Wednesday September 25, 2013 MYT 2:05:00 PM
Updated: Wednesday September 25, 2013 MYT 2:08:55 PM
Land & General to launch 2 condominium projects, GDV RM500m

BY LIZ LEE

KUALA LUMPUR: Land & General Bhd plans to launch two of its property projects in the third quarter of 2014.

The two projects are the Phase 2 of its Damansara Foresta condominium in Bandar Sri Damansara and the Tuanku Jaafar Golf & Country Resort project in Negeri Sembilan.

Managing director Low Gay Teck said after the 50th AGM said with the sales launch for Foresta Phase 2 slated next year, the group targeted the handover in 2015.

The phase, consisting two condominium towers of 452 units, has a target gross development value of RM500mil.

"The units are between 1,200 sf to 2,000 sf and while we have not finalised the selling price as it will be launched a year from now, we're estimating a range from RM700 per sf," Low told the media.

For the Negeri Sembilan golf resort, he said there were still some development issues to be ironed out with the local authorities.

He noted that the local council has requested for some low cost components to be included in the project but the group was undergoing some processes and discussion to waive it.

"But we hope the kick start the project in 3Q14," he said.