24 June 2014

Oxley to launch 8 projects worth RM10b

  24 June 2014


KUALA LUMPUR: Oxley Holdings (Malaysia) Sdn Bhd may be a new kid on the block but it has eight projects worth about RM10 billion to launch over the next four to five years.

he projects, featuring condominiums, villas, office towers, hotels and retail units, are located in the Klang Valley, Iskandar Malaysia in Johor, and Penang.

Oxley Malaysia is a unit of Singapore-listed Oxley Holdings Ltd, a lifestyle property developer that builds residential, commercial and industrial properties at competitive prices.

Oxley Holdings’ strong performance in Singapore has built a sturdy foundation from which to pursue opportunities overseas.

It currently has a premier waterfront development called Royal Wharf in London, four projects in Cambodia, two in China, and now, eight in Malaysia.

The Malaysian unit was set up recently to support its pipeline of overseas projects.

The company is headed by Datuk Othman Omar, the former general manager of PKNS (Selangor State Development Corporation).

According to Othman, the company expects to launch three to four projects in the second half of this year or early next year.

“Oxley Holdings has been successful in Singapore with the shoe box concept where it makes small units that are affordable. We will duplicate that concept here,” he said in an interview with Business Times recently.

Othman said Oxley Malaysia will be prudent with all its developments to ensure that they are integrated, have the right product mix, brand and security features.

He is bullish on prospects, given the strong brand name and reputation of Oxley Holdings.

Citing Royal Wharf, he said when Phase 1 was launched in March, both in London and Singapore, all of the 811 units were sold out within two weeks of its launch, at more than £400 (RM2,192) per sq ft.

The units comprised townhouses, three-, two- and one-bedroom apartments and studio units.

Othman said Phase 2A of Royal Wharf was scheduled to be launched last weekend.

The project is expected to receive robust interest, from end-buyers and investors, due to its strategic location, accessibility and affordable prices, he said.

“The market is soft now and developers have to change the way they do things and make their projects more appealing to buyers Buyers (now) are more educated and they look for yield,” he said.

~ By BUSINESS TIMES

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