Friday July 6, 2012
OSK Property plans mixed devt in PJ, GDV of RM1b
KUALA LUMPUR: OSK Property Holdings Bhd plans a mixed development in Damansara Jaya, Petaling Jaya, with a gross development value (GDV) of RM1 billion.
"The entire construction will be completed in two phases by end-2013.
"Phase one comprises the four-storey Podium Shopping Mall and phase two will be the completion of the entire remaining development works including the two 16-storey small office flexi office (SOFO) suite towers.
"The buildings are estimated to start operation in early 2014," he said after signing a memorandum of agreement with Beijing Urban Construction here.
Also present were OSK Property executive chairman, Datuk Nik Mohamed Din; Beijing Urban Construction general manager (Overseas Department) Li Daosong; and economic counsellor of the Chinese embassy here, Xuan Guoxing.
Ong said the company has eight ongoing projects, including the Atria.
Five of them were in Klang Valley and one each in Seremban and Sg Petani, he said. "The total GDV is valued approximately at over RM5 billion," he said.
He said the company has RM800 million in unbilled sales and they were expected to provide sustainable earnings and growth in the next two years.
Beijing Urban Construction is one of the largest international construction companies owned by the Chinese government.
It has completed a few famous projects around the world including the Bird-Nest (Olympic Stadium) and the mass rapid transit system in Iran. - Bernama