Glomac Bhd expects to generate RM5 billion in gross development value (GDV) for its 14 to 16 projects in the next five to six years, said its Chief Executive Officer Datuk Fateh Iskandar Tan Sri Mohamed Mansor.
"All the projects will be run in Greater Kuala Lumpur except one in Johor," he told reporters after the company's 26th annual general meeting here today.
Of the amount, he said its township project was expected to generate RM1 billion in GDV while the rest will come from its commercial buildings.
Glomac has a landbank of around 1,000 hectares in the Klang Valley presently.
For the first time, the government engaged the private sector and stakeholders, and they could give their views in terms of promoting the property sector and the overall economic growth as well, he said.
Glomac which concentrates on its business in Malaysia currently also has investments in Bangkok, Thailand and Melbourne, Australia.
The company expects to see returns on these investment first before it moves further, Fateh Iskandar said.
For the first quarter financial period ended July 31, 2010, the company's revenue jumped 114 per cent to RM125.3 million from RM59.0 million in the same period last year. - Bernama
