Have to wait for the launching of the second phase of its Pavilion Embassy to further unleash the upside potential of GOB. Its 2018 annual report revealed that the first phase comprising 3 tower blocks launched in Sept 2017 had already achieved 81% take-up rate....
So GOB may start reporting much stronger earnings in the next few quarters when the construction stage reaches more advance stage to be able to recognize more profits from the phase 1 of the project.
The entire Pavilion Embassy project has a total GDV of RM1 billion.
In Kota Perdana, near the proposed Taman Putra Perma station, a 1-storey terraced house with a built-up of 942 sq ft that was sold for RM220,000 in 2012 changed hands for RM400,000 last year.
Upcoming developments close to the planned MRT stations are The Atmosphere by Tempo Properties Sdn Bhd, Galleria by Global Oriental Bhd, Astetica Residences by Hua Yang Bhd, Equine Residence by Beverly Group, Sfera Residency by YNH Property Bhd and Meta City by Villamas Group.
Currently, the Group has about 500 acres of land bank for development (including those under joint ventures). Notwithstanding the challenges faced in the property sector, the Group would continue its efforts to enhance our land bank via strategic tie ups or joint ventures with land owners and/or through acquisition. As at 31 March 2019, the Group had a healthy total unbilled sale of approximately RM655.0 million from ongoing projects.
Pavilion Embassy, Kuala Lumpur This development is sited on 5.75 acres of prime freehold land along Jalan Ampang, Kuala Lumpur. It is an integrated development which entails a premium collection of corporate suites, service suites and private residences. It is strategically located within the upscale enclave of Kuala Lumpur City Centre, just 1.2 kilometers away from the iconic Petronas Twin Tower and is situated right in the heart of the embassy row coveted for its prestigious international address. The project with an estimated GDV of about RM1.0 billion, will be developed in 2 phases, with Phase 1 comprising 3 blocks of corporate and service suites and Phase 2 with 2 blocks of private residences. Phase 1 was launched in September 2017 and achieved a healthy take up rate of 96% to date. The construction of substructure works at site was completed while the main building works are in progress as scheduled. Meanwhile, Phase 2 was later launched in February 2019 and received an encouraging response.
Villa Heights – Phase 2 This is a continuation of its Villa Heights development which is an exclusive guarded and gated residential project built on the elevated grounds in the pristine area of Taman Equine. Phase 2 which consists of 46 units of semi-detached houses and 1 unit of bungalow was launched in May 2018 and achieved take up rate of 85% as of to date. Overall construction work progress has reached approximately 70% completion.
Patrick, thanks for the analysis. Can you project the target of Inverted H&S on the index? It may be better off to refer how much room for property sector to the upside?
Substantial improved quarterly profits will start soon as being derived from its 96% sold Phase 1 of Pavilion Embassy in the next 8 quarters....this can be deduced from its annual report (page 19)
Cumulatively 3 quarters of much better results year-on-year. Unfortunately the share price is still stagnant....way below NAPS, and the market capitalization is way below its total cash in hand.....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kancs3118
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Posted by kancs3118 > 2018-03-16 18:01 | Report Abuse
Patience is virtue...I love GOB