L&G plans new township in Lembah Beringin

KUALA LUMPUR: Lifestyle property developer Land and
General Bhd (L&G) plans to undertake a new township
development at its yet-to-be-converted 2,500 acres
(1,011ha) of estate land in Lembah Beringin, Selangor, as
early as 2016, said managing director Low Gay Teck.

We have just started the planning process and it will take
some time. The estate land will be converted for housing
township development and we hope to launch [the project]
in two years,¡± he told a press conference after L&G¡¯s
annual general meeting yesterday.
The rubber and oil palm estate land, which is wholly owned
by L&G, had a net book value of RM48.146 million as at
March 31 this year.
¡°We will go through the approval process next year. That
will not be immediate as it will take months or even one to
two years to get the approval to [convert] a 2,500-acre
tract. Nevertheless, we have started looking at some
planning proposals,¡± said Low.
He said the group has yet to work out the project¡¯s
estimated gross development value (GDV).
It will be more of a township [with] landed properties and we will try to come out with more new
innovative products.¡±
He said the township will be developed in phases and will be fairly comprehensive with residential,
commercial and industrial components.

We want to cater to those who wish to purchase landed property but find it too expensive to acquire
one in a prime city area, and don¡¯t mind travelling another 35 minutes up north along the highway,hesaid.
The township could be developed by L&G on its own or through a joint venture (JV), he said.
¡°Until the time comes, we will look at various options ¡ª whether to develop on our own or team up with
another party. It can be any-one, not just Mayland,¡± he said.
Previously, L&G had teamed up with Malaysia Land Properties Sdn Bhd (Mayland) to jointly develop
The Elements @ Ampang, which was launched in 2011 with a GDV of RM860 million.
This article first appeared in The Edge Financial Daily, on September 23, 2014.