Guocoland plans RM1.5bil projects next year

Guocoland Managing Director Tan Lee Koon with the model of the project at his office at the interview for SBW. at Damansara Heights in Kuala Lumpur on Oct. 30, 2013 , Rohaizat/Star.

PETALING JAYA: Guocoland (M) Bhd will be launching RM1.5bil worth of projects within its current financial year ending June 30, 2014 (FY14).

Managing director Tan Lee Koon said the projects would be from ongoing developments that the company had in Emerald City (Rawang), PJ City, Sepang and Cheras.

“We will be launching three residential phases in Emerald City in FY14,” he told StarBiz, adding that the development in Rawang would comprise semi-dee and zero-lot bungalow units.

“The starting price for the zero-lot bungalows is about RM1.8mil,” said Tan. “As the Klang Valley expands, areas farther out such as Rawang are doing well and we’re seeing more people moving outwards.”

According to the company’s website, Guocoland is developing 28 units of terrace and semi-dee factory units in PJ City, known as the PJ City Corporate Hub.

The units will be for the utilisation of high-tech assembly plants, showrooms, wholesaler businesses and standard office space.

Tan declined to reveal the starting prices of the units for Guocoland’s project at PJ City, however.

Guocoland also has 5,000 acres of land in Sepang, of which 1,200 acres have been allocated to develop its Pantai Sepang Putra project.

“Around 90% of the project will be residential development,” said Tan, adding that the company had already built 1,900 homes in the area.

“We had stopped launching for two years because demand for property in the area was slow. However, prices of homes in the area have since gone up and we are kick-starting launches there.”

Tan also said Guocoland had 49 acres of land in Alam Damai, Cheras, where the company is currently developing semi-dee and bungalow houses.

According to him, Guocoland currently had close to 10,000 acres of undeveloped land currently, mainly within Kuala Lumpur and Selangor.

“We also have a piece of land in Jasin, Malacca, and we’re excited about the prospects there. Tourist visits to the state have been increasing over the years and investors are also coming in.

“We are currently planning something in Malacca and will make the necessary announcements when the time is right.”