PETALING JAYA: Newly-listed Boustead Plantations Bhd is sitting on thousands of acres of landbank in the Klang Valley and Johor that the group may consider converting into townships once its oil palm estates are past their prime.
Although it has yet to firm up any plans, Boustead Plantations vice chairman Tan Sri Lodin Wok Kamaruddin told StarBiz that the group’s 4,047ha in Desaru and 567ha in Kulai, both in Johor, and less than 405ha in Balau, Semenyih, have medium to long term potential for property development.
“We believe these three parcels are prime.
“The Senai-Desaru highway, for example, links the Senai airport to our Desaru land.
“Our estate in Kulai is near Johor Premium Outlets.
“There is also the possibility of a third bridge between Malaysia and Singapore,” he said in an interview.
Part of Boustead Plantations’ Balau landbank, a portion of which was carved out for the Malaysian campus of the UK’s Nottingham University, had been sold to Boustead Properties last year.
Its sister firm Boustead Properties paid RM107.3mil, or RM6.50 per sq ft, for 143ha in Balau, near the Semenyih town centre.
As property development is not a core business of Boustead Plantations, any property projects on its land will be managed by the Boustead group’s property arm.
~ By THE STAR
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