“We have submitted our plans for the development and have segmented the development into five phases, each phase will be between 300 to 500 acres,” DRB-Hicom group managing director Datuk Seri Mohd Khamil Jamil said at a media retreat recently.

“This is a huge piece of land, and my biggest concern is how do I bring content to the development. I want to build homes, and not just houses for people,” he said.

According to Khamil, the area offered tremendous potential, as the surrounding Mount Austin is already well developed, and it is also located within the Economic Zone E Senai- Skudai of Iskandar Malaysia.

The group has also revised the original plan for the parcels of land to cater to the current needs of society.

“We will start to develop the first 200 acres as the introduction phase, and it will start from the southwestern tip of the land,” he said.

Khamil also said that owing to the size of the development, DRB-Hicom was open to partnerships and joint ventures with reputable developers.

“Property developers are welcome to join us to develop this parcel of land as 1,500 acres is huge, and I would like to optimise my returns and look at the opportunities available,” he said.

The first and second phases of the project Phase 1C1A consisting 131 units of double-storey terrace house and Phase 1C1B consisting 84 units of cluster homes are scheduled to be launched in September 2013.

With 1,516 acres of total development area, consisting of various township components, the project is estimated to have a gross development value of RM8bil over 10 years.

The group has obtained the approvals from the Johor Baru City Council and will be developing the project via its subsidiary Glenmarie Properties Sdn Bhd.

Back in 2008, DRB-Hicom bought the parcels of land from Benua Kurnia Sdn Bhd and Neraca Prisma Sdn Bhd for RM722.4mil.

The group financed the purchase by disposing of five pieces of plantation land for RM341.4mil to the vendors and obtained a bank guarantee facility of RM238.9mil to satisfy the purchase. The balance RM141.7mil was paid in cash.

Source: The Star Online

Date: 10th to 19th February

Venue: Booth no 13, 14, 15 and 16

Date: 2 to 4th March 2012

Venue: Booth no 2052, 2053, 2060 and 2061

Date: 13th to 15th Apr 2012

Venue: Booth no 3049, 3050, 3063 and 3064.

Glenmarie Properties Sdn Bhd (Glenmarie Properties) and Bank Muamalat Malaysia Berhad (BMMB) on 27th May 2011 entered into a Memorandum of Understanding (MOU) to develop a home financing package known as “Glenmarie-Muamalat Home Ownership Made Easy (H.O.M.E)”, specially designed for Glenmarie Gardens and Laman Glenmarie projects, both developed by Glenmarie Properties. Under the aegis of this collaboration, a special financing package is made available at selected Bank Muamalat’s Klang Valley branches to end-finance the abovementioned developments.

This MOU was signed by En. Ahmad Ridzal bin Ahmad, Chief Executive Officer of Glenmarie Properties and Dato’ Haji Mohd Redza bin Abdul Wahid , Chief Executive Officer of BMMB, witnessed by Dato’ Sri Haji Mohd Khamil Jamil, Group Managing Director of DRB-Hicom Berhad at a ceremony held at Holiday Inn Kuala Lumpur Glenmarie. This collaboration between the two subsidiaries of DRB-Hicom Berhad is the first within the group.

The collaboration unfolds an exclusive home financing package for Glenmarie Gardens and Laman Glenmarie buyers. Competitive financing rates, convenience of online repayment via i-muamalat.com.my and a longer financing tenure up to 70 years of age or maximum financing duration of 40 years are some of the attractive selling points for this special home brewed package. Apart from that, there will be attractive margin of financing; financing option of Moving Costs and Related Expenses (MCRE), (inclusive of Mortgage Reducing Term Takaful (MRTT), legal fees, etcetera); Zero Payment Scheme (ZPS) and Gradual/ Step-Up Payment Scheme (GPS) are included in this special financing package by BMMB to accommodate exclusively for Glenmarie Gardens and Laman Glenmarie buyers.

This special financing package is made available at selected Bank Muamalat’s Klang Valley branches to end-finance the abovementioned developments.