Bright Future for IJM Properties
We’ve always liked IJM Properties. Backed by one of the country’s best and most profeesionally-run construction company, the property arm has been quite active in the past few years.
They have just launched the urban PJ8 in Petaling Jaya. Another strategy employed is through joint ventures with other developers to widen their landbank for launches.
Recently they aanounced their corporate figures, and:
- In the 15-month financial year ended March 31, IJM Properties contributed RM88mil, representing 31% of the group pre-tax profit.
- Unbilled property sales of some RM500mil would also contribute to group earnings in the next two years. IJM Properties is also making inroads offshore with property projects in India, the US and Australia.
- Out of the 14 ongoing developments in the Klang Valley and Seremban, 12 are joint ventures with other developers and corporations.
- It signed a 30-year lease with Tesco hypermarket for its built-for-lease building in MetroEast-Udini development in Penang to diversify their steady earnings.
- Under the design, build and sell concept, the company entered into an agreement with Bumiputra-Commerce Holdings Bhd to build the RM375mil Menara Commerce in Jalan Raja Laut for the financial services group. Located on 2.5 acres next to the UOB building, the purpose-built building with net floor area of 630,000 sq ft would be completed in the first quarter of 2008.
- The central region will be the hive of activity for IJM Properties with 10 major projects worth a total gross development value (GDV) of RM2.5bil under way that will keep it busy for the next 10 years. They include Ampersand, PJ 8, Bandar Mandarina, Riana Green East, Menara Commerce, Monte Bayu, Sierra Ukay, Saujana Puchong and Canal City (the last two obtain through Talam and Kumpulan Europlus)
To read more, check out this report in the Star.
Hey, did you guys do a review on the Saujana service apartments in Subang..the one opposite Subang Parade
Comment by S-Kay — December 7, 2005 @ 2:14 pm
That one coming soon, promise…
Comment by Administrator — December 7, 2005 @ 2:16 pm
Thought you guys have decided to do a review on the popular Park 19. How come still no review?
Comment by Guy — December 7, 2005 @ 3:19 pm
difference of opinion amongst editors…!
Comment by Administrator — December 7, 2005 @ 3:52 pm
Goodie!~
Comment by S-Kay — December 7, 2005 @ 6:14 pm
You mean opinion so different until editors were too embarassed to write a review on Park 19? Just ask the most senior editor to review la or the majority’s opinion shall prevail…
Comment by Guy — December 7, 2005 @ 6:21 pm
“You mean opinion so different until editors were too embarassed to write a review on Park 19?”
No. Those are pretty harsh words. Review is coming soon.
Did you already book a unit or planning to?
Comment by Administrator — December 7, 2005 @ 7:41 pm
Sorri lor! I was just curious. Yes, planning to… I hope your review is gonna be objective and independent. Pls point out any pitfalls, if any. Thanks.
Comment by Guy — December 7, 2005 @ 8:01 pm
no worries. actually the place is has a lot of good points going for it, especially the competitive price and overall design.
Comment by Administrator — December 7, 2005 @ 8:06 pm