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AIRA RESIDENCE | Kuala Lumpur (Jalan Batai, Damansara Heights) | Completed (2021)

21881 Views 37 Replies 9 Participants Last post by  davidwsk
Selprop keen on Damansara Heights

PETALING JAYA: Selangor Properties Bhd (Selprop), one of the largest developers in Damansara Heights, plans to launch a few projects in the much sought-after area.

The company will launch its 107-unit Batai high-end condominium project this year but had not decided on its gross development value, financial controller Lee Boon Kian told reporters after the company AGM yesterday.

The last Damansara project on Selprop's books was Menara Milenium, comprising a 25-storey office building and a four-storey annexe block, completed eight years ago.

Lee said the pricing of the high-end units would likely fall within market rates for the location of RM800 to RM1,000 per sq ft.

Menara Milenium in Damansara Heights

“At present we are at the building planning stage and have done the initial earthworks,” he said.

The developer is also planning another project in Damansara in a joint venture with E&O Property Development. This will be a mixed commercial and condominium development at Jalan Semantan in Damansara Heights.

The joint developers were awaiting government approval for the “development order” on this project, Lee said.

Selprop's on-going developments include the RM400mil Bukit Permata mixed development in Gombak, and the RM350mil Selayang Mulia residential project.

At present, the company has 200 acres of undeveloped land bank, predominantly in the Klang Valley, of which about 26 acres is in Damansara.

Lee said the land bank was expected to last 10 more years.

As for the often-mentioned 19.57 acres of undeveloped land at Pusat Bandar Damansara, corporate affairs manager Chong Koon San said there were no immediate plans for development.

For the financial year ended Oct 31, 2007 (FY07), Selprop’s net profit dropped to RM84.5mil from RM89.6mil in FY06. However, revenue grew to RM198.6mil from RM181.1mil previously.

The lower net profit could be attributed to a forex loss from the sale of Multiplex stapled securities in its Australian operations that contributed the bulk of earnings in FY07.

The high dividend-paying company declared a 10% dividend for FY07.

*******another 2 new!!
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SPB to launch RM260m GDV high-end condos in Damansara Heights
by Yantoultra Ngui Yichen
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KUALA LUMPUR: Selangor Properties Bhd (SPB), one of the largest landowners in Damansara Heights, expects to launch a high-end condominium project at Jalan Batai here consisting of 107 units, each with a built-up area of more than 3,000 sq ft, this year.

The project, which will be its first key project in Damansara Heights since the development of Menara Millennium in 2000, is estimated to fetch a gross development value (GDV) of between RM260 million and RM300 million.

“For the Batai project, we have gotten our approval; at the moment we are in the planning stages for earthwork. As for launching, it is expected to be this year, and the earliest we are talking in terms of income coming in will be over the next three years,” said SPB’s financial controller Lee Boon Kian on April 30, declining to confirm the GDV estimates.

He said SPB had not finalised the pricing yet. However, he said the pricing for the surrounding areas in the Damansara Heights would be around RM800 psf to RM1,000 psf.

On whether it was a good time to launch the project this year as the property cycle might have reached its tipping point, Lee said the supply for high-end properties in Damansara Heights was limited, unlike those in the Kuala Lumpur City Centre (KLCC) area where supply was more than demand.

SPB, together with a joint venture partner E&O Property Development Bhd, would also develop the Semantan condominiums and offices projects located in some of its properties in Damansara Heights, he said.

“As for the Semantan condominiums and offices, we are still waiting for the development order, it is still pending,” Lee said.

On its financial performance, he said SPB would derive most of its profit for the fiscal year ending Oct 31, 2008 (FY08) from rental income such as its shops located in Jalan Batai, Taman Tunku flats and the ongoing low-to-medium property development projects in Bukit Permata and Selayang Mulia.

In FY07, SPB’s pre-tax profit was mainly derived from its property and investment holdings business, including rental income and sales of assets while its property development business contributed only 2% mainly from the housing projects in Bukit Permata and Selayang Mulia. The balance 13% came from its education business — the 51% owned Help International Corporation Bhd.

In terms of its overseas operations, Lee said SPB was currently expanding its 50% held Claremont Shopping Centre in Perth, Australia by buying more land around the mall and building 82 units of apartment with a GDV of some A$125 million (RM368.84 million). He added that SPB planned to dispose of its remaining assets in Coolum Lagoon Resort in Queensland, Australia.

Moving forward, Lee said SPB, with 10.52ha of undeveloped land in Damansara Heights, would explore opportunities to acquire more land in the Klang Valley area. As at end-FY07, the group had cash and cash equivalents amounting to RM249.35 million.
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new fom Selangor Properties

Batai Condominium
-107 units
-Jalan Batai, Damansara Heights.
BATAI RESIDENCE | Kuala Lumpur (Bukit Damansara) | Pro

2 blocks 25storey
Developer : Selangor Properties Bhd
now open for registration

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it's batai service apartment, by SPB (selangor properties bhd)
owh ok tq...

Jalan Batai and Jalan Beringin highrise project
Protest against high-rise project
Meena Lakshana
Monday, October 17th, 2011 11:16:00

KUALA LUMPUR: The Bukit Damansara House Owners' Association will stage a peaceful demonstration against a proposed highrise project in Jalan Batai and Jalan Beringin.

The project, comprising two blocks of 25-storey service apartments and four floors of basement car park on a 0.9ha site, is being developed by Selangor Properties Berhad.
owh ok tq...

Jalan Batai and Jalan Beringin highrise project
Protest against high-rise project
Meena Lakshana
Monday, October 17th, 2011 11:16:00

KUALA LUMPUR: The Bukit Damansara House Owners' Association will stage a peaceful demonstration against a proposed highrise project in Jalan Batai and Jalan Beringin.

The project, comprising two blocks of 25-storey service apartments and four floors of basement car park on a 0.9ha site, is being developed by Selangor Properties Berhad.
how about damanlela n damansuria condos, from the same developer, just opposite of this batai's...also being protested?
wow wow..thx bout damanlela???
except for damanlela...don't have the 'softcopy' :nuts:
how tall is damansuria??? i bet atleast 40storey
hmm more less...haha...45 apt + 5 podium parking + 1 retail level = 51 storeys....

but, both damansuria n damanlela are still stuck on DBKL's planning approval..:bash:
i saw the rendering states 45.. WOWOW

WOW 51 storey for Damansara Heights kiasuland u kidding me??
latest title:


hmm..height reduction, from 25 to 22 storeys...
any updates for this project? is it still on hold?
I read somewhere that this project is temporarily shelved due to residents protest...
hmm...altogether from the SPB are 6 projects:
- 2 blocks of 51storeys damanlela service apartment at jalan damanlela-semantan
- 3 blocks of 30+ storeys damansuria service apartment next to above development
- 2 blocks of 25storeys batai service apartment at jalan batai
- 20+ storeys batai hotel at jalan beringin-batai

^^ all in bkt damansara

selayang mulia n bukit permata just behind batu caves hill...

status...emmm haha...almost all still on hold, some rejected by DBKL, not sure which one...
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SelProp’s net profit jumps to RM19.4m

By Bernama
Tuesday, 26 March 2013 11:09

KUALA LUMPUR: Selangor Properties Bhd’s (SelProp) net profit for the first quarter ended Jan 31 jumped to RM19.36 million or 5.63 sen a share from RM552,000 in the corresponding period last year. Revenue increased to RM61.07 million from RM52.15 million.

In a filing with Bursa Malaysia, SelProp said the increased earnings were due to higher occupancy rates and lower interest in the property investment holding.
“The current investment properties still enjoy high occupancy rates and will continue to contribute positively to the group,” it said.

SelProp said the higher revenue and pre-tax profit in its education division were largely due to the rise in student enrolments in the Damansara and Fraser Business Park campuses.

On the 2013 financial year prospects, the group said its property investment and education sectors are expected to remain stable and will continue to contribute positively.

“The occupancy rates for Menara Millenium in Damansara Heights and Claremont Shopping Centre in Perth, Australia, remain high,” SelProp said.

It said the company is reviewing the development plans in Bukit Permata and Selayang Mulia and new launches are expected this year.

The proposed development of the group’s land in Damansara Heights will be designed to provide integration and connectivity with the mass rapid transit project, it said.

“The group expects operations in Malaysia and Australia to remain positive,” SelProp said, adding that its profit will be subject to fluctuations in currency. — Bernama

This article first appeared in The Edge Financial Daily, on March 26, 2013.

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Bring the 51-storey towers ON.. !!!!
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