PJ Development Holdings Bhd (PJD), which has expanded its property development operations since it was transferred to the property sector in the local bourse two years ago, wants to make a bigger presence in the industry.
Property development is today the group’s core business, contributing 70% of the group’s revenue in the financial year ended June 30, 2004, and it will continue to drive the group’s growth in the future.
The group is also involved in construction, manufacturing and trading of power cables, concrete wall panels and roofing tiles as well as hotels and leisure under the Swiss Garden and Swiss-Inn brands. In leisure operations, the group’s time-share business is under Swiss-Garden International Vacation Club Bhd.
PJD Management Services Sdn Bhd senior general manager (marketing and operation) Lim Lian Seng said the property market had done quite well in the last three to four years and the trend was expected to continue over the next few years.
“We are continuously seeking attractive opportunities to generate a steady flow of income for the group and expand its land bank and market position,” Lim said.
The group is involved in a wide spectrum of affordable to higher end properties but in the last three years, it has shifted its focus to more lifestyle developments in Kuala Lumpur.
Lim said although the turnover generated from high-end properties was generally lower, the higher margin of such homes would translate into higher profit for the group.
The group’s 20-acre parcel in Seri Hartamas will last for six to seven years.
The next project to take off will be Laman Oakleaf @ Ampang is set for launch in the next two to three months. Located on 10 acres in Bukit Antarabangsa, the gated enclave will feature 90 semi-detached homes and double-storey terraced houses as well as 44 units of 2½-storey linked homes.
“This will be another interesting project to look out for and we are confident the address will be a big crowd puller,” Lim said.
PJD’s ongoing projects in Penang and Johor have also recorded quite robust sales with take-up rates of 90% for the Park View @ Harbour Place condominiums while Taman Putri Kulai in Johor has grossed more than RM600mil in sales.
Harbour Place on 26 acres, which was launched in 2003, is touted as the largest and only integrated condominium development in Butterworth upon completion in about 10 years.
Phase one comprises 312 condominium units in the 28-storey Park View Tower. The units of 883 to 1,077 sq ft are priced from RM125,800 to RM180,800.
With an expected GDV of RM800mil, the project would also comprise serviced apartments, business suites, shopping mall and a promenade square.
The subsequent phases would feature the Sea View Tower (300 units of duplex condominium), followed by River View Tower (500 apartment units).
The mixed development of Taman Putri Kulai, Johor, offers an array of affordable homes comprising mainly terraced houses, apartments, shop houses and light industrial factory units. The project is at the tail end of development for expected completion in the next four to five years.
Lim said the group was at the final stages of acquiring another freehold parcel in Johor for property development.
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