Land & General Bhd (L&G), a real estate developer and plantation company will launch next year 732 units of serviced apartments, with a price tag of about RM500,000 in Sri Damansara.
The units range from 650 sq ft to 950 sq ft, said the company’s managing director Low Gay Teck.
The Sri Damansara project will commence construction in the third quarter of next year, he said.
Low is confident the project will garner strong interest from homebuyers due to its strategic location.
The 5.7-hectare project will be developed on the Sri Damansara Club land.
“We believe that the development will perform well due to its prime location as well as being well connected to public transportation,” he reportedly said after the company’s shareholders meeting recently.
L&G is also planning to launch a new development project, Aria Rimba in U10, Shah Alam.
This project will feature terrace houses and construction will also comment in the third quarter of next year.
According to Low, both projects will command a gross development value of RM677 million.
“We will launch phase 1A of Aria Rimba comprising 150 units of double-storey terrace and 162 units of medium-rise Rumah Selangorku apartments,” he said.
L&G’s unbilled sales stand at RM160 million.
Among its on-going projects include Damansara Seresta (Bandar Sri Damansara), Astoria Ampang (Jalan Ampang) and Sena Parc (Senawang).
Damansara Seresta, which overlooks the Bukit Lanjan Forest Reserve, has a GDV of about RM490 million.
The residential project has two towers of 43 and 49 storeys, with 452 apartments in total and it was first launched in 2018.
As for the land bank, the developer has 1,423ha in Peninsular Malaysia. This includes 1,011.7has of estate land which has been earmarked for future township developments.