Before the financial year end on April 30, 2017, Glomac intends to launch new properties worth RM 1 billion in total gross development value (GDV).
Managing Director, Datuk Seri Fateh Iskandar Mohamed Mansor, noted that RM 200 million GDV have already been launched in the first quarter of 2017. Malaysia can anticipate other project launches to follow, including Lakeside Residences, Saujana KLIA, Saujana 4 & 5, Saujana Rawang, Sri Saujana, Saujana Jaya and Plaza Kelana Jaya.
The new developments will be a mix between terraced houses, shops, offices, serviced apartments and even affordable homes. Fateh Iskandar shared that Glomac is positioned well to capitalize on the sustainable high demand of residential projects and affordable housing.
Fateh Iskandar continued, “Among the total project launches, some RM700 million worth of properties are mostly landed homes that fall within the affordable price range. Our newly launched Saujana KLIA has achieved 80% take-up and some 90% take-up for Lakeside Residences. We are confident in our landed properties. For high-rise projects, it is very challenging, unless it is in a very strategic location and have the right pricing.”
With such big developments underway, it’s safe to say that Glomac is transforming Malaysia’s real estate market in the upcoming year.