Developer sees positive revenue growth

Property developer Tambun Indah Land Berhad is anticipating at least 15% revenue growth this year from RM128mil recorded last year.

Its managing director Teh Kiak Seng said the company currently has six ongoing projects with total gross development value (GDV) of RM500mil.

“We will launch three more projects at the end of the year, namely the BM Residence in Bukit Mertajam, Capri Park in Butterworth and Kelisa Residence in Seberang Jaya with total GDV of RM110mil.

“We will have another project in Jelutong with three blocks of apartments and a block of office podium with GDV of RM200mil. Hopefully it can be launched by early next year,” he said after the company’s annual general meeting at Eastin Hotel in Penang last Friday.

The company’s ongoing projects include the Pearl Garden and Pearl Villas, Juru Heights, Carissa Park, Impian Residence, Dahlia Park and Tanjung Heights.

Teh said the company was also planning to develop an area called Pearl City consisting of over 445.15ha in Simpang Ampat.

“It will take a minimum of eight years to develop the place with GDV surpassing RM3bil.

“A business park will be surrounded by residential areas there and we are negotiating with hypermarkets, colleges and hospitals now. Hopefully, we can get one of them to come in.” Teh said.

He said more people from Penang island were favouring properties on the mainland.

“Last year we had about 10% purchasers from the island while this year, 35% of our purchasers are from the island.

“Properties over at the mainland are comparatively cheaper with a terrace house selling at about RM300,000,” he said. - By The Star

No comments