"We'll be allocating RM30 million from the IPO proceeds to secure new parcels to add to our existing 188ha of landbank in the Klang Valley," chief operating officer Lim Poh Yit said at the company's prospectus launch yesterday.

Also present was his sister Charmaine Lim Puay Fung, who heads the sales and marketing team in the group.

Titijaya's IPO, which is due to list on the Main Market of Bursa Malaysia this month, comprises a public issue of 81.7 million new shares and an offer for sale of 49.5 million existing shares.

Titijaya's ongoing projects are estimated to be worth just over RM1 billion. Notable ones include the Klang Sentral Commercial Centre and Casa Tiara Serviced Suites.

"Our biggest project to date is the RM1.5 billion integrated development in Shah Alam, which comprises retail space, office units and serviced apartments. This is followed by the Klang Sentral Serviced Apartments, which is valued at RM700 million," Lim said

He added that these projects received overwhelming response, with a 90 per cent take-up rate and capital appreciation in the sub-sale market.

"Next year, we plan to launch the subsequent phases of Seri Alam Industrial Park, the Zone Innovation Park@ Sungai Kapar Indah and the Mutiara Point Business Park developments," he said.

Titijaya had developed over 3,000 units of properties worth RM1.14 billion over the last decade.

The group was founded by Lim's father, Tan Sri Lim Soon Peng, who is also Titijaya Land group's managing director.