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Tag: berjaya land

  • Malaysia’s BLand earmarks RM1.05b property launches this year

    Malaysia’s BLand earmarks RM1.05b property launches this year

    Berjaya Land Bhd (BLand) plans to launch some RM1.05 billion worth of properties in 2019, mainly The Tropika in Bukit Jalil and Timur Bayu in Shah Alam, after a two-year hiatus. The group, via its subsidiary Berjaya Golf Resort Bhd, launched The Tropika over the weekend, a mixed development project with a gross development value (GDV) of RM720 million, comprising 868 residential units across four towers.

    BLand senior general manager of property marketing Tan Tee Ming expects The Tropika in Bukit Jalil to be the main revenue contributor for the group’s property segment this year.

    The Tropika is located on 6.5 acres of freehold land in Bukit Jalil. There are four different types of units, namely Type A, Type B, Type C and Type D measuring 732 sq ft, 974 sq ft, 1,318 sq ft and 1,251 sq ft respectively.

    Tan said units of the first tower is priced at RM725 psf and every subsequent tower will increase RM50 psf.

    “There are two market segments that we want to cater for in The Tropika. We thought of the buyers in mind and the first segment is young families. We also want to focus on investors. We know that there will be a rental market for the apartments that we build here,” Tan told the media.

    The Tropika is within close proximity to SJKC Lai Meng, International Medical University and Asia Pacific University, as well as the Bukit Jalil Complex, the Bukit Jalil Recreational Park and the Bukit Jalil Gold & Country Resort.

    Surrounding the four residential towers of The Tropika is a 2.9-acre deck equipped with 68 types of facilities.

    The commercial space of the project features a 23,695 sq ft grocer along with a two-storey dual frontage office lots ranging from 3,316 sq ft to 3,814 sq ft and retail space ranging from 752 sq ft to 1,677 sq ft.

    Completion of the commercial component will take two years while the residential towers will take four years.

    Tan said BLand is also planning to develop the 12-acre land next to The Tropika, where the Berjaya Property Gallery sits on, into a 1,500-unit residential project with managed healthcare.

    Meanwhile, he said the Timur Bayu development in Shah Alam has a GDV of RM330 million, consisting of high-rise and low-rise residential units. It is expected to launch the project in the third quarter this year.

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  • Berjaya Land to build Four Seasons Resort in Okinawa for US$1b GDV

    Berjaya Land to build Four Seasons Resort in Okinawa for US$1b GDV

    Berjaya Land Bhd’s (BLand) subsidiary Berjaya Okinawa Development Co Ltd will develop the Four Seasons Resort and Private Residences Okinawa in Japan, which has an estimated gross development value of US$1 billion (RM4.1 billion), in partnership with hospitality company Four Seasons Hotels and Resorts. BLand’s parent Berjaya Corp Bhd founder and executive chairman and BLand major shareholder Tan Sri Vincent Tan said the project has a development cost of US$400 million (RM1.64 billion).

    Four Seasons Resort and Private Residences Okinawa will have 120 hotel rooms, 120 residences and 40 villas. The project is expected to take four years to complete.

    Tan said Four Seasons Resort and Private Residences Okinawa is another iconic project in Japan for the Berjaya group, emulating the success of Four Seasons Hotel and Hotel Residences Kyoto, which was launched in December 2016.

    “We think it will be the most valuable and expensive hotel in Okinawa. It will have the highest rate, just like Four Seasons Kyoto where the average rate is US$1,500 per night, but Okinawa will be slightly less. It will be good for BLand and BCorp,” he said at the hotel management agreement signing ceremony.

    He added that four-star hotels in Okinawa average at US$700-US$800 per night while the better ones are priced at US$1,000, viewing that Four Seasons Resort and Private Residences Okinawa will do well there.

    “I’m confident that Okinawa will be an outstanding successful project for Berjaya,” said Tan.

    The project will comprise 30 acres out of the 100 acres of beachfront land owned by BLand along the western coast of the island of Okinawa.

    “We have another 70 acres. We can build many more hotels on that land and Okinawa is a good market. We can do shopping mall, residences, three- or four-star hotels,” added Tan.

    This is BLand’s second partnership with Four Seasons but Tan said both parties are also in talks on future projects in Japan and other cities.

    Four Seasons operates 111 hotels and resorts, 41 residential projects in major city centres and resort destinations in 47 countries, and with over 50 projects under planning or development.

    “We have plans to grow our footprint in Japan such as Osaka, Hakone, leisure destination in Hokkaido, including Niseko. It’s a country that we continue to focus on, not only growth but also operating existing assets there,” said Four Seasons Hotels and Resorts senior vice-president for development Asia Pacific Christopher Wong.

    When asked if Four Seasons Resort and Private Residences Okinawa will also be put for sale, like the Four Seasons Kyoto, Tan said it is possible, adding that every thing is up for sale with the right price.

    On the divestment of the Four Seasons Hotel in Kyoto, Tan said it is talking to several parties for a better price and is expected to be finalised in the next three months.

    On the plan to carve out the hotel assets from BLand and to list the hotel business in Singapore, Tan said it is not finalised yet, but it could include Malaysian hotel assets.

    “We will list those that we’re not selling. We have a few hotels that we’re not selling like Berjaya Times Square Hotel and Ansa Kuala Lumpur. Those that we want to hold for long term, mostly are the Malaysian hotels,” he added.

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  • Malaysia’s Berjaya Land Q1 earnings up 44%

    Malaysia’s Berjaya Land Q1 earnings up 44%

    Berjaya Land Bhd’s (BLand) net profit for the first quarter ended July 31 rose 43.8% to RM16.58 million from RM11.53 million a year ago mainly due to Sports Toto Malaysia Sdn Bhd (STMSB) reported higher profit contribution from lower prize payout and operating expenses; and lower finance costs.

    Its revenue also jumped 1.2% to RM1.62 billion compared with RM1.60 billion in the previous year’s corresponding quarter, mainly due to higher new vehicle sales volume reported by HR Owen Plc; and higher revenue from the gaming business segment operated by STMSB.

    The directors expect the number forecast operation (NFO) business to be satisfactory and will continue to maintain its market share for the remaining quarters of the financial year ending April 30, 2019. The performance of the hotels and resorts business is also expected to remain satisfactory whilst the property market outlook is expected to remain lukewarm.

    “The group also expects to record a significant gain upon the successful disposal of the proposed Berjaya Vietnam International University Town One Member Ltd Liability Co (disposal) and proposed Vietnam subsidiary disposal accordingly in due course, going forward,” BLand said.