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Following the completion of first phase, KLSSB
is expected to progress further in developing
and promoting the commercial contents
of Kuala Lumpur Sentral Development. Despite
the soft economy, the commercial outlook for
Kuala Lumpur Sentral Development remains
promising.
The construction of the remaining four blocks
of Plaza Sentral development and two blocks
of luxury condominiums are expected to take
place in the next financial year. The
construction of an integrated retail complex by
Promising Quality Sdn Bhd, another major
property investor in Kuala Lumpur Sentral
Development is also expected to start during
the same period.
In addition to the construction plan, KLSSB will
embark on several other key initiatives such as
beautification and branding programmes to
enhance and strengthen Kuala Lumpur
Sentral’s position as a prime and prestigious
real estate development in the country.
Region 1
Apart from the Kuala Lumpur Sentral project,
the Group completed two phases of
apartments in Taman Kajang Utama during the
financial year under review. The township
project, developed by wholly owned subsidiary
of the Group, MRCB Utama Sdn Bhd (MRCB
Utama), is strategically located near major
routes linking Kuala Lumpur, the Kuala Lumpur
International Airport and the Federal
Government’s administrative centre in
Putrajaya. When fully developed in 2006, it will
consist of over 4,400 units of integrated
residential, commercial and industrial units.
MRCB Utama launched Parcel 1 of Peak 208
“Cameron” double-storey terrace houses (109
units) in September 2001, which have been
fully sold despite the soft economy. Parcel 2
(99 units) consisting of “Fraser” double-storey
terrace houses was launched shortly thereafter
and has been similarly successful, enjoying
97% sales. Construction of Parcel 1 has
commenced and is scheduled for delivery by
August 2003.
Another 210 units of apartments featuring a
“smart home” concept were launched in
September 2002. Sales have been
encouraging and development works will
commence soon. Construction of the 260
units of the Kayangan Shop Apartments
launched in 2001 are progressing steadily
and is scheduled for delivery by early next
financial year.
MRCB Utama is also continuing the
development of the Taman Seri Serkam
residential scheme in Jasin, Malacca under an
agreement with MAIM Holdings Berhad. Work
on the first phase began in 2001 with the
construction of 99 low-cost and 125 mediumcost
units, all of which have been fully sold.
Region 2
Work on Bandar Seri Iskandar Township is also
progressing smoothly. The development by
Seri Iskandar Development Corporation Sdn
Bhd. (SIDEC) is a joint-venture between
Malaysian Resources Development Sdn Bhd.
(MRDSB), a subsidiary of MRCB and Perak
State Development Corporation (PKNP). When
completed in 2020, the township will cover
5,155 acres with an integrated development of
residential, commercial, industrial and
recreational facilities. It is situated strategically
midway between Ipoh and Lumut, the main
seaport for the state of Perak. The township is
easily accessible from Kuala Lumpur and
Penang by existing and proposed highways.
Phase One of the township covering 630 acres
is scheduled to be developed between 2000-
2004. The development presently consists of
the sale and construction of 1,315 units of
various types of residential units as well as
some commercial units.
The response for the residential and
commercial units is very encouraging with 81%
of the units taken up. The first delivery of the
units is expected to be in early 2003 while the
remaining units will be delivered in stages by
December 2003.
Laporan Tahunan 2002 Annual Report
OPERATIONS REVIEW (CONTINUED)
73