Latest news with #CPILand
New Straits Times
24-06-2025
- Business
- New Straits Times
CPI Land to launch premium residential project with RM557mil GDV in Gombak
KUALA LUMPUR: CPI Land is set to launch a residential development in Selangor that "will redefine" luxury living in the region. Permata Heights, a premium freehold landed residential development in Gombak, will boast a total gross development value (GDV) of RM557 million. "Permata Heights signifies CPI Land's strategic expansion into the high-end landed property market, reinforcing its commitment to delivering standout homes in highly sought-after locations. "Nestled at the highest point of Taman Bukit Permata, this exclusive 8.33-hectare development will feature only 177 residential units, offering a low-density living experience across stratified super-link homes, semi-detached houses and bungalows," it said. The limited collection of residences is designed to cater to discerning buyers seeking unparalleled privacy, space and modern amenities, CPI Land added. "Post-pandemic trends clearly show rising demand for upmarket landed homes, with recent launches outperforming comparable mass-market properties. "We're not just entering this segment; we're doing it with intention. Location, low density, and market alignment are our pillars, ensuring Permata Heights offers exceptional value and an elevated lifestyle," said Chung Shan Tat, chairman of CPI Land. The initial phase, Permata Gemma, is targeted for launch in July with a projected GDV of RM123 million. The phase will comprise 36 three-storey semi-detached homes and 24 three-storey bungalows, tailored for business owners and multi-generational families. Prices for semi-detached homes will start from RM1.76 million, while bungalows will be priced around RM2.2 million, reflecting the premium features and expansive layouts. These residences will boast open designs, high ceilings, full-length windows, private gardens or balconies, and provisions for lifts, EV charging, and solar panels, blending sustainability with sophisticated living. "Permata Heights is poised to become a landmark development, offering residents unobstructed views of the Kuala Lumpur skyline and excellent connectivity to major highways such as MRR2, Duke, Karak Expressway and the Setiawangsa-Pantai link," Chung said. Buying sub-sale terrace homes today often comes with high renovation costs, ageing structures, and sky-high prices, he added. "Permata Heights addresses this by offering brand new landed homes featuring modern façades with distinctive curated residences and amenities that have become a hallmark of our company." Chung said the initial market response has been overwhelmingly positive, with significant interest and sales appointments already booked. Full take-up of Permata Gemma is anticipated within six to nine months. Following Permata Gemma, Phase 2 (39 semi-detached homes and bungalows) and Phase 3-a gated 78‑unit stratified landed phase on the distinctive "Eyeball" apex, will roll out next year. Phase 4 will comprise serviced apartments which will be located away from the first three phases. CPI Land is preparing another landed project in Selayang by year‑end. The company has also acquired 2.25ha in Permas Jaya, Johor expanding beyond the central region for the first time. This positions the company to strengthen its portfolio.
Malaysian Reserve
12-06-2025
- Business
- Malaysian Reserve
Binastra retains Buy, target price raised to RM2.30
Binastra Corporation Bhd secured a RM268m contract from TNJ Development Sdn Bhd, a subsidiary of CPI Land, for the main building works of Tuan Heritag3 (RM670m gross development value). The work scope covers the construction of a 45-storey apartment comprising 1,269 units in Segambut, KL. The contract is slated to commence in Aug 2025, with targeted completion by Dec 2027. We make no changes to our earnings forecast as this contract win falls within our replenishment assumptions. We reiterate our Buy rating and 12-month target price of RM2.30, based on an unchanged target 18x multiple on FY26E EPS. We continue to like Binastra for its strong competitive advantage as a preferred contractor with key clients and superior profit margins. Key downside risks include slower-than-expected order book replenishment, unforeseen delays, and project margin cost pressure. – Phillip Research Sdn Bhd (June 12, 2025) (Calls by analysts tracked by Bloomberg: 6 Buy, 0 Hold, 0 Sell; Consensus target price: RM2.22)
