News & Articles L&G to launch RM2.4bil GDV township in Shah Alam next year
L&G to launch RM2.4bil GDV township in Shah Alam next year
12 Sep 2024
KUALA LUMPUR: Property developer, Land & General Bhd (L&G) plans to launch U10 Aria Rimba, a new township project in Shah Alam with a total gross development value (GDV) of approximately RM2.4 billion next year.
Managing director Low Gay Teck said the project will be developed in six phases.
Speaking to reporters during a press conference after the company's 61st annual general meeting, he said Phase 1, set to kick off next year, entails the construction of 150 units of terrace houses with an estimated GDV of RM113 million.
Low said the group also plans to launch 1,008 units of high-rise service apartments in Sri Damansara Club with an estimated GDV of RM621 million in 2025.
Additionally, the group targets to launch 602 units of affordable service apartments, Kamelia @ Bandar Sri Damansara with an estimated GDV of RM156 million by the end of this year.
On a separate note, the group posted a lower revenue of RM216.63 million for the financial year ending March 31, 2024 (FY2024) -- a 13 per cent drop from RM249.18 million in FY2023.
Low attributed the decline in revenue to the lower contribution from The WYN Residences and Livista projects and lower sales from the Astoria and Sena Parc projects.
"The group also declared a single tier dividend payment of 0.7 sen per share in respect of FY2024, and the entitlement date and payment date have been fixed on Oct 3, 2024 and Oct 18, 2024, respectively," he added.
Managing director Low Gay Teck said the project will be developed in six phases.
Speaking to reporters during a press conference after the company's 61st annual general meeting, he said Phase 1, set to kick off next year, entails the construction of 150 units of terrace houses with an estimated GDV of RM113 million.
Low said the group also plans to launch 1,008 units of high-rise service apartments in Sri Damansara Club with an estimated GDV of RM621 million in 2025.
Additionally, the group targets to launch 602 units of affordable service apartments, Kamelia @ Bandar Sri Damansara with an estimated GDV of RM156 million by the end of this year.
On a separate note, the group posted a lower revenue of RM216.63 million for the financial year ending March 31, 2024 (FY2024) -- a 13 per cent drop from RM249.18 million in FY2023.
Low attributed the decline in revenue to the lower contribution from The WYN Residences and Livista projects and lower sales from the Astoria and Sena Parc projects.
"The group also declared a single tier dividend payment of 0.7 sen per share in respect of FY2024, and the entitlement date and payment date have been fixed on Oct 3, 2024 and Oct 18, 2024, respectively," he added.
Source: NST.com.my