PETALING JAYA: Exsim Development Sdn Bhd plans to launch 11 new residential and industrial developments covering 90 acres (36.4ha) in the Klang Valley within the next three years.
Its head of property R&D (industrial) Vincent Chin told The Edge Financial Daily the company recently secured several parcels of land in the Klang Valley, bringing the group’s total undeveloped landbank to about 100 acres. He added that it is also in final discussions to acquire another six acres for industrial development in Balakong.
“We are still on the lookout for more landbank, especially larger tracts in the Klang Valley for a township development,” said marketing and corporate communications head Michelle Siew, adding that Exsim is also open to good joint venture opportunities.
Exsim recently signed a joint venture agreement with an individual landowner to develop a 50-acre leasehold site in Ijok, Sungai Buloh. It has also acquired a 10-acre freehold industrial tract in Meru Klang for RM20 million.
The Ijok project will comprise over 100 light industrial lots while plans for the Meru project are still being finalised. Both industrial projects are set to be launched by year-end.
Also expected to be launched this year are two condominium developments — The Petalz in Old Klang Road, and a yet to be named development in Jalan Tun Razak, Kuala Lumpur. The 3-acre The Petalz has a gross development value (GDV) of RM300 million while the 1.1-acre Jalan Tun Razak development has a GDV of RM170 million.
The developer launched the 2.7-acre Novelle Industrial Park Lot 8 in Kota Damansara and the 9-acre Novelle Industrial Park Balakong (NIPB) in early March. According to Chin, five out of the seven units in Lot 8 and 16 out of the 18 available units in NIPB have been snapped up.
The leasehold Nouvelle Lot 8 has a GDV of RM59 million and is Exsim’s fourth and final industrial development in Kota Damansara. The freehold NIPB project is a joint venture with Hai Ming Sdn Bhd, a subsidiary of KPS Consortium Bhd, and has a GDV of RM83 million.
The company’s first four projects were industrial lots under the Nouvelle banner — Nouvelle Kota Damansara (RM70 million GDV), Nouvelle Kemuning Business Park (RM65 million GDV) as well as Novelle Industrial Park 2 (RM55 million GDV) in Shah Alam, and Nouvelle Lot 10 (RM50 million GDV) in Kota Damansara. Prices for The Nouvelle Industrial Park have risen 30% to 40% from their initial launch price of RM 3.2 million in 2009.
Exsim’s residential projects include The Treez and Twin Arkz in Bukit Jalil and The Leafz in Sungai Besi. Prices at The Treez have appreciated by about 30% since its launch in 2010. In September 2012, the studio units at Twin Arkz set a new benchmark price of RM800 psf for such property in Bukit Jalil.
This article first appeared in The Edge Financial Daily, on May 3 2013.
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