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Sunday, April 6, 2008

Faber has projects worth RM700 mil

FABER Development Sdn Bhd, a subsidiary of Faber Group Bhd (Faber), has RM200 million in unbilled sales from its existing property projects out of the RM700 million worth of projects under the company which will last them until the end of 2011.
The group has two core businesses – facilities management (healthcare and non-healthcare) and property development. Its property arm contributed 30% to the group revenue, recording an increase of 26% at RM206 million for its FY ending Dec 31, 2007 compared to RM163 million in 2006.“It is a challenge for all developers, including us, to deliver quality goods at reasonable prices due to rising costs,” said Adnan, adding that there will be seven launches this year worth over RM450 million. The launches are four phases within Laman Rimbunan, two projects in Taman Danau Desa and an exclusive development in Kota Kinabalu.Faber’s remaining 57-acre landbank are located in Taman Desa, Laman Rimbunan and Sabah. The developer plans to secure sizeable landbanks especially within the Klang Valley.
(The Sun 28-3-2008)