Thursday, 29 June 2017

(NST) Property developer Tiger Synergy to launch 9 projects with a GDV of RM2bil

KUALA LUMPUR: Property developer and construction company, Tiger Synergy Bhd is expected to launch nine property projects with a total gross development value (GDV) of RM2 billion within the next five years.

Tiger Synergy managing director Shirley Tan Lee Chin said the overall company’s developments ratio between affordable and high-end housing projects is 40 per cent and 60 per cent, respectively.

“We are committed to developing various types of housing projects. Most of our developments will be built in Klang Valley. Each segment targets different group of buyers and it will not cannibalise other property projects,” she said on the sidelines of Tiger Synergy Bhd Memorandum of Agreement (MoA) with Prosma Bhd, today.

Tan added Tiger Synergy’s overall property projects would contribute between 30 per cent and 40 per cent of profit margin to the company, which is expected to be realised within five to eight years period, depending on the market sentiment and demand.

“We plan to develop two affordable housing projects this year, each unit is priced between RM400,000 and RM500,000. The first project is to develop Telaris Gombak, while the second project is still at an initial planning stage,” she said.

Meanwhile, Tiger Synergy’s wholly owned subsidiary Tiger Synergy Timber Sdn Bhd has inked an MoA with Prosma Bhd for the development of the Telaris Gombak with an estimated GDV of RM100 million for an affordable condominium under the “Rent-to-Own” scheme.