Ken Holdings Bhd will be especially busy in the second half this year, as it plans to launch three projects in Shah Alam, Genting Highlands and Johor Baru, with the southern project a key driver for the company in the long term.
Ken Holdings’ 9.31ha project down south, a first for the company of that scale, would contribute significantly to the group in the coming years.
“We’re in the master planning stage and will launch this soon as the first green integrated district in Malaysia,”
Tan said the project was part of the company’s long-term strategy to grow its recurring income.
“Johor Baru would be a huge driver for the company in the coming years,” he said. The mixed development, with about RM1.22bil in gross development value, would have residential and retail segments, offices, a medical centre as well as education and hospitality components.
“Our site is smack in the middle of the city, in the flagship Zone A just 2.5km from the Customs, Immigration and Quarantine complex,” Tan said.
Meanwhile, the Shah Alam launch would be a 30-storey condominium nestled within its Ken Rimba township.
Tan said the condominium would make up the “bustling side of Ken Rimba” to complement the more serene landed Legian and Jimbaran terraced houses. There are also shoplots next to the condominium, ready to complement the entire 24.28ha freehold township.
The condominium would have 240 units of 1,000 sq ft build-up, with pool villas on another block. It is the first of two phases of condominiums in Ken Rimba.
As for the Genting Highlands mixed development, Tan said it was strategically sited at the top of the hill as an ideal getaway spot for locals.
“We are looking into more hospitality projects and are already speaking to a few hotel operators to explore what we can do,” he said, adding that there would also be serviced suites and leisure homes to complement the entertainment outlets already available on the hill.
Property developer Ken Holdings Bhd is planning a RM80mil project, comprising hotels and service apartments, in Kelantan,it seeks to expand revenue base to the east coast. Group executive chairman Datuk Kenny Tan said the proposed development in Kelantan would have 200 service apartments and a 150-room hotel on an acre next to the Kota Bharu Mall.
“We have received the necessary approvals. At the moment, we are making some amendments. This project is a joint venture with the Kelantan state.
He added that the company had also earmarked several hotel developments on its existing landbank, such as in Genting Highlands, Johor Baru and Shah Alam, in line with its plan to increase recurring income moving forward
Currently, the company has a landbank of 112 acres in Pahang, Malacca, Penang, Perak and Johor Baru, which would keep it busy for the next 10 to 15 years. It has unbilled sales of RM230mil.
Ken is also expected to start churning more than RM10mil a year of recurring income by year-end from the rental of its Menara Ken @ TTDI office tower in Taman Tun Dr Ismail.
Tan envisaged that the building, which is located along Jalan Burhanuddin Helmi .
Menara Ken @ TTDI boasts platinum-grade office spaces, an art gallery, a performing arts theatre, a roof-top pool, a sky bar, a gymnasium and a vast variety of F&B outlets.
“It is expected to provide a long-term recurring income for the Ken group,” he added.
“The total GDV of Ken Rimba Condominium 1 project is about RM340mil ” he said.
The Ken Rimba Condominium is part of the Ken Rimba township, comprising 653 units in three blocks of condominiums and 26 pool villas
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