KUALA LUMPUR, Jan 13 — Titijaya Land Bhd, a leading Malaysian property developer, has currently ongoing and future projects of about RM2.3 billion and RM10 billion in gross development value (GDV) respectively.
Deputy Group Managing Director, Lim Poh Yit said the urban developments and landbank were located at strategic locations across Greater Kuala Lumpur, Penang and in Kota Kinabalu, Sabah.
“We have more than 30 years of experience in the property market domestically, and to date, have completed over RM3 billion worth of properties.
“Today’s signing with Tokyu Land Corporation (TLC) reflects our vision in partnering reputable companies to strengthen our capabilities and enhance the value of our developments,” he added.
He said this before the signing of a memorandum of understanding (MOU) on property venture with the Japan-based TLC here today.
TLC, focusing on urban and transit-oriented development, wellness and overseas business, is a real estate company founded in 1953. It is the core company of the Tokyu Fudosan Holdings Group, which is listed in the First Section of the Tokyo Stock Exchange and Nikkei 225 Index.
“By entering into the MOU, we are able to leverage on TLC’s strength to further revolutionise our business. In return, TLC as part of its plans for international expansion, is set to establish itself in the Malaysian property development sector by capitalising on Titijaya’s current and upcoming market,” Lim said.
TLC invested RM47 million into Titijaya’s unit, Epoch Property Sdn Bhd, through a conditional share subscription agreement in November last year.
The agreement entails the subscription of the 47 million units representing 100 per cent of Class A shares in Epoch Property, for an ongoing project, the Mizu Residence, at Ara Damansara, Selangor.It was launched here today with a GDV of RM300 million. — Bernama