BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

36
CEO’s Review Of Operations
mixture of residential, commercial and industrial
properties under various stages of construction
and about 50% of the units are due for
completion in the coming year.
BERJAYA
MEGAMALL,
KUANTAN,
PAHANG.
The latest addition, Berjaya Megamall in
Kuantan completed its construction in March
1998 and offers a total lettable area of 471,927
sq. ft. and 1,068 car park lots. Its anchor tenant,
Pasaraya Hugo (Kuantan) Sdn Bhd, a whollyowned
company of Ocean Capital Berhad was
opened on 26 June 1998. The occupancy rate is
currently 60% and it has the potential for
further growth in view of its strategic location
and also the biggest shopping mall in the East
Coast of Peninsular Malaysia offering various
facilities such as a 30-lane bowling alley,
cineplexes, food courts and theme parks.
Greenfields Apartments, which was launched in
1995 is situated within Bukit Jalil Golf &
Country Resort. Phase 1 which comprises 326
units has been completed and Block A has
been handed over to purchasers in August 1998.
Phase 2 with 156 units is presently under
construction and expected to be completed by
the Year 2000. Out of the total of 482 units
launched, about 76% have been sold for a total
sales value of about RM77 million.
The Group’s first industrial development,
Berjaya Industrial Park Phase 1, located in Jalan
Kebun, Kelang, consists of 36 industrial lots
spreading over a nett land area of 104.25 acres,
has been completed. Within the same
development, 40 units of single-storey link
houses with selling prices starting from
RM118,000 per unit launched in May 1998
were all sold. These units have generated a
sales value of about RM4.7 million.
PROPERTY DEVELOPMENT
The Group has built up a landbank of about
2,500 acres over the past ten years.
Approximately 23% are concentrated within
Selangor/Wilayah Persekutuan, 42% within
Johor while the remaining 35% are located in
Terengganu, Pahang, Perak and P. Pinang.
FUTURE DEVELOPMENTS
Under our property development portfolio, we
have about 3,000 units of medium-cost price
range properties under the approved
development scheme. Our team is aggressively
procuring the necessary approvals for about
1,000 units and we are planning to launch these
units into the market within the next few years.
With the downturn in the past year, the Group
is not looking into acquiring new properties,
instead we are now concentrating on
developing some of our more viable projects
from our existing landbank.
ON-GOING PROJECTS
A majority of the on-going projects within the
Group is concentrated in Selangor/Wilayah
Persekutuan and Johor. Presently, we have
about 1,500 units of properties comprising a
DESA WATERPARK
- THE LATEST
FAMILY
ENTERTAINMENT
PARK IN KUALA
LUMPUR
OFFERING A
WHOLE RANGE
OF WATER
RECREATION
FACILITIES.