(From left) Damansara Realty group executive director Azhari Abdul Hamid, Brian and chairman Datuk Ahmad Zahri Jamil, together with Active Group managing director Teo Chee Yow and deputy general manager Isaac Tan Sze Yen at the ground-breaking ceremony.

KUALA LUMPUR: Damansara Realty Bhd, through its subsidiary DAC Land Sdn Bhd and Johor-based partner Active Estates Sdn Bhd has launched Business Boulevard @ Central Park, set to be its latest commercial development in Tampoi, Johor Baru. 

The project, which has an estimated gross development value of over RM150mil, 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 6.9-acre development will cater to the existing waiting list of interested buyers following the success of DBhd’s Aliff Square 1 and 2 developed in the same area.

“Leveraging on Taman Damansara Aliff’s strategic location and excellent connectivity, we expect Business Boulevard @ Central Park to build on this success,” said Damansara Realty group managing director Brian Iskandar Zulkarim.

“Seeing the high demand from our registered list of interested buyers for such units in the area, we are optimistic with the allure of this development to the potential business owners and investors,” he said during the ground-breaking ceremony recently. 

“Strategic alliances have always been a key enabler to Damansara Realty’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 Damansara Realty closer to our 2019 financial goals,” he added. 

This strategic alliance is part of the company’s expansion strategy. 

In October, Damansara Realty and its joint venture partner Country Garden launched phase 3 of their joint development project Central Park. 

Phase 3 will spread over 14.7 acres, comprising of 216 double-storey terrace units.

Meanwhile, Damansara Realty’s joint development project with state investment arm Menteri Besar Negeri Sembilan Incorporation for a 50-acre commercial land in Sendayan is expected to start in Q1 of 2020.