PETALING Garden Bhd expects its ongoing property projects in Sri Petaling and Shah Alam to generate sales of RM750mil in the next five years.

Chairman Tan Sri Ahmad Sarji Abdul Hamid said the group was currently developing the balance 100 acres of its land in Sri Petaling into shop/office units and phase three of its flagship project Temasya at Glenmarie in Shah Alam.

Petaling Garden is developing 240 units of residential properties in Sri Petaling, comprising mainly semi-detached houses, two-storey and two-and-half-storey terraced houses, as well as 54 units of shop-offices.

''We are currently at the earthworks stage for the infrastructure of phase three of Temasya at Glenmarie,'' he said after the company's AGM in Kuala Lumpur yesterday.

The group expects to launch 28 units of industrial property, comprising factory, showroom, and office units and semi-detached factory units by the second quarter next year.

Also to be developed in this phase are 132 units of ''super'' linked houses, which are slated for launch in the third quarter next year.

Temasya at Glenmarie was launched in mid-1997 and spans more than 574 acres.

Sarji said the group expected to embark on a new project in Klang after completing the acquisition of three parcels of land totalling 400 acres in Kapar at the end of next month.

Tentatively, the group is planning a mixed development project on the land comprising residential and commercial units with an estimated sales value of close to RM900mil.

''We can’t disclose details of the project as yet in view of the competition,'' Sarji said.

The group recently entered into a conditional sale and purchase agreement with Prominent Acres Sdn Bhd to acquire the three adjoining parcels of freehold land for RM98.1mil.

Source : The Star  15/9/2004