Nexgram Land Eyes RM293 Million Net Profits In Next 5 Years

Date：2015/03/04

KUALA LUMPUR -- Nexgram Holdings Bhd's property development arm, Nexgram Land Sdn Bhd, expects a net profit of RM293 million in the next five years via its mixed development projects in Cyberjaya and Putrajaya.
 
Both projects are expected to start in mid-year, said the company in a statement Tuesday.
 
"The projects will also enhance Nexgram Land's future earnings visibility and mark a milestone in the company's diversification into property development," Nexgram Land Chief Executive Officer, Tey Por Yee said.
 
The Cyberjaya-project, which had been entirely purchased by MyAngkasa Bina Sdn Bhd for RM1.1 billion, comprises commercial shops, a high-end small office versatile office residence, a hotel and corporate office building.
 
Nexgram Land said the Putrajaya project would be jointly developed with Top Valley Properties, and comprise three blocks of residential units.
 
This project too has been sold to MyAngkasa for RM400 million.
 



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