Tuesday, June 7, 2011

Glomac to acquire land in Pekan Kayu Ara, Selangor

Glomac to acquire land in Pekan Kayu Ara, Selangor

KUALA LUMPUR: Glomac Bhd’s wholly-owned subsidiaries Glomac Kristal Sdn Bhd and FDM Development Sdn Bhd have entered into two sale and purchase agreements (SPAs) for the acquisition of approximately 7.62 acres of leasehold land in Pekan Kayu Ara, Daerah Petaling, Selangor for RM31,159,875.

The land is adjacent to mature residential and commercial developments like Damansara Utama, Damansara Jaya and Bandar Utama. In its announcement on Bursa, Glomac said this proposed acquisition is in line with the Group’s development strategy of acquiring land in good locations suitable for niche developments with a fast turnaround time.

6 comments:

  1. Hi bro,

    Glomac bought the land on Nov 2009; and sources say the GDV for that project- Glomac Utama might hit RM 500m.

    Recently, this area nearby has launched another project: RM 500p psf
    Boulevard Residence Damansara
    http://www.iproperty.com.my/developments/2054/Boulevard_Residence_Damansara/#m1


    Puncak Damansara Condo latest transcation done at RM 300psf. Will this increase Puncak Damansara Condo price in coming 2 years?

    What is your view for Msia property mkt in NEXT 2 year? Will property price come down ?

    Thanks in advance for your sharing 

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  2. Ini Ah Ong punya project, Ah Ong is existing incumbent at this area...

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  3. who is ah ong?

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  4. http://www.ocr.com.my/index.asp

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  5. aiyo . . ah ong = Ong Chong Realty Sdn. Bhd

    famous company with high end project leh!
    dono how they evaluate the launching price.

    anyone can tell how developer measure a RM psf to sell?

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  6. the project is still continuing. but this project have an issue about the lorry. This case had gone to the Court..but Glomac on this case.. u have to remember that, this land is "Paya" land which is the structure of the land is soft inside..

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