The Property Division is another one of JCorp’s core busines di visions led by two companies namely Johor Land Berhad (JLand) and Damansara Assets Sdn Bhd (DASB).
Johor Land Berhad
JLand’s strength as a property developer lies in its major residential township projects mainly based in Johor. The company currently has a prime land bank of over 2,800 acres in Johor, within the epicenter of the Iskandar Malaysia (IM). In its endeavour to be a premier property company in the country, JLand, although there are uncertainties in the property market, has been able to sustain its performance and thus demonstrated its resilience and ability to adapt to changing business environment.
For the year under review, JLand’s property development activities centered on the development for Bandar Dato’ Onn, Taman Bukit Tiram and Taman Bukit Dahlia.
Bandar Dato’ Onn is JLand latest development offering promises to be one of the most sought after address in Iskandar Malaysia. The township, which is scheduled to be completed over a period of 20 years will be developed based on an exclusive neighbourhood concept. There will be 19 exclusive neighbourhoods each carefully planned to bring out the finest aspects of community living. The township featuring exclusive neighborhoods and vibrant commercial hub is set to be one of the most beautiful and modern townships to live in, in the southern part of the nation. Within the township, a regional commercial hub of 118 acres is set to become the nerve of Bandar Dato’ Onn and all development components are linked through a linear park, with special attention given to landscaping. When completed, the township will feature 17,800 property units with expected gross development value and gross profit of RM4.0 billion and RM1.2 billion respectively.
Bandar Dato’ Onn debut project, Neighbourhood 10, comprises 662 units of prestigious double storey terraced houses and double storey semi-detached houses were launched in 2007. All the housing units were completed and more than 90% handed over to purchasers. In December 2010, the Company launched the first phase of Neighbourhood 11 which comprises 198 residential units and Neighbourhood 2 which comprises 21 commercial units with a total gross development value of RM275 million.
On the other hand, JLand’s on-going projects, Taman Bukit Dahlia and Taman Bukit Tiram also contributed to the enormous achievement in the year under review. Taman Bukit Dahlia is strategically located between Masai and Pasir Gudang, one of Johor’s growth corridors; while Taman Bukit Tiram is a mixed development spread over an area of 150 acres. This development is in addition to JLand’s development of Bandar Tiram, planned as a self-contained township on 1,200 acres of land.
