L&G managing director Low Gay Teck (right) answering questions from the media as chief financial officer Benjamin Leong looks on.
PETALING JAYA: Property developer Land & General Bhd (L&G) is planning to launch two projects with a combined gross development value (GDV) of RM1.09bil next quarter.
They are Livista, a 700-unit serviced residence complex in Bandar Sri Damansara, and The WYN Residences in Puchong, which will house 1,546 units. Livista has a GDV of RM460mil while The WYN has a GDV of RM630mil.
Livista is a 22-acre masterplan development which consists of serviced residences, two-storey shop lots, a proposed hotel and a 5-acre recreational park.
The WYN, an undertaking by L&G wholly owned subsidiary Brilliant Forward Sdn Bhd and L&G director Low Gay Teck via Forward Victory Sdn Bhd, will occupy 3.55 acres of leasehold land in Puchong.
L&G presently has three on-going projects, namely Damansara Seresta, Sena Parc and Astoria Ampang. Damansara Seresta comprises 452 units located next to the Bukit Lanjan Forest Reserve in Bandar Sri Damansara. The other two are Sena Parc Phase 1D comprising 162 units of double-storey terrace houses In Senawang, Negeri Sembilan and Astoria Ampang Phase 2 which was launched in July 2022 comprising 506 units of service apartments located off Jalan Ampang, Kuala Lumpur.
Meanwhile, the group posted full-year revenue of RM249.2mil for the financial year ended 31 March 2023. The group revenue for FY2023 increased by 29.2% against FY2022 contributed by higher revenues from its property and education divisions. Its profit after tax was higher at RM26.5mil representing an increase of 37.7% against FY2022.
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