MRCB turnover to exceed 50%

Staff Writer Property Report 02/14/2010 13:17

MRCB turnover to exceed 50% - MRCB - Malaysia - residential project - property investment

According to Bernama.com, the Malaysian Resources Corporation Bhd (MRCB) expects its turnover from its property division to exceed 50 per cent by next year. This is due to the construction of the KL Sentral project.

Investment research company, OSK Research stated that the MRCB´s property turnover would be between 30 to 40 percent as the on-going projects in KL Sentral are going according to plans.

According to the newssite, OSK Research stated: “Other than the on-going projects and an improving outlook for the property sector, MRCB is expected to launch its luxury condominium project later this year with an estimated gross development value (GDV) of more than RM800 million.”

According to OSK, CMY Capital Sdn Bhd, the joint venture partner of MRCB is still commited to continue with the development of the St. Regis Hotel & Residences with an estimated GDV of RM1.5 billion.

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