MALAYSIA DAILY BULLETIN| 05 NOVEMBER 2012
Malaysia Daily Bulletin – 05/11/12
WCT To Start Fifth Project in Johor
WCT is starting on a fifth project in Johor, which has an estimated gross development value of RM1.5 billion. The company, through its subsidiary WCT Acres had signed a 99-year lease purchase agreement with Iskandar Investment for a 7.25 hectare plot in Medini North of Iskandar Malaysia for RM99.5 million. The RM1.5 billion mixed commercial project is scheduled to be developed over the next five years beginning the third quarter of 2013, and will comprise office spaces, retail components and apartments. Early next year, WCT will be launching another development project, Medini Signature which features 456 luxury apartments worth RM400 million, according to its managing director Taing Kim Hwa. Furthermore, WCT’s maiden property project in Medini North, 1 Medini Residences, comprising two residential buildings worth RM400 million is almost fully sold.The company’s other two remaining projects in Johor are slated for launch next year and in 2014. The projects are located at Jalan Skudai and within the Medini Business District, next to Medini North.
Significance: Surging property prices in Medini has been improving WCT’s prospects in Johor. Currently,the company is enjoying profit margins of between 20 and 30 per cent from its projects in Medini North, according to WCT’s MD. |
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发表于 5-11-2012 10:50 PM
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