BUSINESS

DAMANSARA REALTY, PARTNER LAUNCH COMMERCIAL DEVELOPMENT IN TAMPOI

11/12/2019 02:11 PM

KUALA LUMPUR, Dec 11 -- Damansara Realty Bhd’s (DBhd) subsidiary, DAC Land Sdn Bhd, and its Johor-based partner, Active Estates Sdn Bhd, have launched their commercial development in Tampoi, Johor Bahru with an estimated gross development value (GDV) of more than RM150 million.

The Business Boulevard @ Central Park is the third instalment of Aliff Square and will comprise 68 units of freehold commercial shop-office lots to be developed in four phases over the next five years.

This 2.79-hectare (ha) development will cater to the existing waiting list of interested buyers following the success of DBhd’s Aliff Square 1 & 2 developed in the same area.

DBhd's group managing director, Brian Iskandar Zulkarim said, “Now that Aliff Square 1 and 2 are fully sold, we've proven our ability to design and build properties that meet current trends and buyers' demands.

“Leveraging on Taman Damansara Aliff’s strategic location and excellent connectivity, we expect Business Boulevard @ Central Park to build on this success,” he said in a statement here today.

According to the statement, the strategic alliance between DBhd and Active Estates Sdn Bhd is part of an expansion strategy.

“Strategic alliances have always been a key enabler to DBhd’s growth and has always been part of our long-term strategy.

“By combining strength and capabilities with established partners such as Active Estates, we are able to operate more efficiently with minimal capital expenditure, producing better quality earnings and pushing DBhd closer to our 2019 financial goals,” said Brian Iskandar.

-- BERNAMA


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