“We have only developed a project on PHB’s landbank. It is part of efforts to strengthen revenue.”
DATUK KAMALUL ARIFIN OTHMAN, Pelaburan Hartanah Bhd group managing director and chief executive officer
KUALA LUMPUR: Pelaburan Hartanah Bhd (PHB), a property investment company and Amanah Hartanah Bumiputera (AHB) fund manager, is developing four property projects with an estimated gross development value (GDV) of RM1.5 billion.
Group managing director and chief executive officer Datuk Kamalul Arifin Othman said there will be two projects each in Jalan Bangsar and Jalan Conlay, a private hospital development in Penchala and shopping malls in Terengganu.
He said the move is to diversify its business portfolio to increase revenue sources.
“We have only developed a project on PHB’s landbank. It was part of the company’s efforts to strengthen revenue.
“When all projects are completed and matured, we will issue unit trusts to investors over the next two to three years,” said Kamalul Arifin after launching the ‘Save, Invest and Win’ initiative in Kuala Lumpur yesterday.
Present were Maybank Asset Management Sdn Bhd chief executive officer Ahmad Najib Nazlan and PHB group chief financial officer Mohd Fadzil Maruwan.
PHB manages 19 property assets comprising commercial buildings, hospitals and logistics worth RM4 billion.
Assets owned are injected into unit trusts offered to retail investors at RM1 per unit.
Kamalul Arifin said PHB, which owns 404.7ha in the country, including four ongoing projects, was exploring opportunities to raise its property asset portfolio.
“The Bangsar 61 development will have seven towers, three office towers, an iconic tower, one hotel tower and two serviced apartment towers, while the Conlay 301 in Jalan Conlay is a mixed development project.
“We are developing a private hospital project with 300 beds. It will be managed by KPJ Healthcare Bhd, while the shopping malls in Terengganu will be operated by SOGO operators,” he said.
Meanwhile, PHB and MAM has introduced new initiatives to encourage and increase investments in AHB units.
The new initiative in the form of “Save, Invest and Win” prize offers the entire AHB unit worth up to RM400,000.