IJM Land set to launch Canal City project by early 2012

Wednesday, 23 November 2011 13:31

SINGAPORE (Nov 22): IJM Land Bhd, a leading property developer in Malaysia, is set to mount a roadshow to launch the Canal City project in the Klang Valley early next year.

Chief executive officer and managing director Datuk Soam Heng Choon said:"We are going to launch the Canal City in the Klang Valley middle of next year.

"So, we are going on a road show for the launch (of the project) may be by the beginning of the year.

"It was called the Canal City last time, but we are going out there (during the roadshow) to give it a rebranding," he told Bernama on Tuesday.

The project with a gross development value of more than RM10 billion will be sprawled over 800 hectares at the back of the Kota Kemuning and Kota Permai Golf Course in Shah Alam, Selangor.

"The design will be based on the green city concept. It is one of the the first green township that we are developing and the project will be one of the first few big green townships in Malaysia" he added.

Soam said the project, comprising a mixed township of commercial and residential components, would be fully completed within 12-15 years.

Touching on the city concept, Soam said a water and canal feature would be incorporated to run through the entire development.

On the probability of looking for investors, Soam said:"Not so much because we already have experience in carrying out township developments.

"We actually have township and niche project developments like "The Light Waterfront Penang" project," he said.

Spread over 60 hectares, the RM5.5 billion iconic waterfront development will comprise residential and commercial components complete with 100% fibre optic infrastructure.

Soam said IJM Land was currently undertaking projects in Penang, Klang Valley, Johor, Sabah and Kuching.

Currently, IJM Land has a landbank exceeding 4,000 hectares with a gross development value of more than RM20 billion to be realised over 20 years.

From The Edge