Bandar Raya to launch RM2bil projects this year

BANDAR Raya Development Bhd (BRDB) will launch projects with gross development value (GDV) of RM2bil locally this year while keeping its eyes open for opportunities abroad. CapSquare Residences II, an integrated commercial, retail and residential enclave, was expected to be launched in the second quarter 2008, he said. Jagan said BRDB also targeted a series of launches aimed at introducing exclusive lifestyle living concept in Johor this year. The company's high-end One Menerung in Bangsar and The Troika projects, which were launched in 2006, were doing well, with about 85% and 75% of the units sold respectively, he said. BRDB recently expanded its land bank in the Klang Valley with the acquisition of 10.1ha freehold land fronting the Federal Highway in Subang Jaya. The RM125.9mil purchase is for a mixed development featuring retail, office suites and apartments. The project has a potential GDV of RM1.5bil

(11-02-2008 The Star)

Subang project seen boosting Bandar Raya earnings

BANDAR Raya Developments Bhd's (BRDB) recent purchase of a 10.1ha site in Subang Jaya will provide another catalyst for sustainable earnings growth for the property developer post-2009. OSK Research Sdn Bhd analyst Mervin Chow Yan Hoong said this project is able to leverage on its prime location of Subang, with easy accessibility from the Federal Highway. "And with the apartments priced in the region of RM250,000 to RM350,000, they will be affordable to most Klang Valley households with monthly income of more than RM5,200," he wrote in a note on Monday.

(16-1-2008 New Straits Times)

Bandar Raya Expand Land Bank

Bandar Raya Developments Bhd (BRDB) has expanded its land bank in the Klang Valley with the acquisition of 10.1ha of freehold land fronting the Federal Highway in Subang Jaya. Chief executive officer Datuk Jagan Sabapathy said the company planned integrated development comprising retail, street retail, designer suites, office suites and apartment blocks.

(14-01-2008 The Star)

Bandar Raya Buys Subang Jaya Land For RM126 Million

BANDAR Raya Developments Bhd (BRDB) has bought a 10.2ha piece of land in Subang Jaya for RM125.86 million with plans to turn it into a mixed-use development featuring retail, street retail, office suites and apartments. With an estimated gross built-up area of five million sq ft, the development is expected to be carried out in four to five phases over seven to eight years with the first phase expected to begin in 2009.

(12-01-2009 New Straits Times)

BRDB to sell office tower for RM439m

KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB) is selling its “CapSquare” office Tower 2 (OT2) to Germany-based Union Investment Real Estate Aktiengesellschaft (UIRE) for RM439.3 million to unlock the value of the asset. Proceeds from the all-cash deal will be used to finance other components of CapSquare, a RM2 billion mixed project on a 6.1-hectare freehold site in Jalan Munshi Abdullah and Jalan Ampang.

(9-1-2008 The Edge)

Bandar Raya to sell office tower for RM439mil

KUALA LUMPUR: Bandar Raya Development Bhd (BDRB) has found a European buyer for Office Tower 2 (OT2), which has been left uncompleted since 1997, for RM439.3mil. Analysts said such en bloc sales would normally help ease a property developer's cashflow and it need not have to worry about cash being tight in unsold units when the project was completed. Union Investment is an international investment management company specialising in open-ended real estate funds for private and institutional investors. It has assets under management amounted to 11.6 billion euros and has expanded into 12 new markets, including Japan, Singapore, Mexico and Hungary.

(8-1-2008 The Star)

Bandar Raya sells KL tower block

BANDAR Raya Development Bhd (BRDB) is selling a 41-storey tower block in its CapSquare project to a German real estate investment company for RM439.32 million. The block, known as Office Tower 2 (OT2) offers approximately 600,000 sq ft nett saleable area together with 461 parking bays.

(8-1-2008 New Straits Times)

BRDB charts milestone with European deal

Bandar Raya Development Bhd (BRDB) has sealed one the most significant property deals in Malaysia to date.

(Malaysian Reserve 8-1-2008)

BRDB to Sell Office Tower for RM439m

KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB) is selling its “CapSquare” office Tower 2 (OT2) to Germany-based Union Investment Real Estate Aktiengesellschaft (UIRE) for RM439.3 million to unlock the value of the asset. At RM439.3 million, the 41-storey building with a net saleable area of 600,000 sq ft changed hands at about RM732 per sq ft. The tower is due for completion by 2010.

(01-01-2008 The Edge)