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- Including the 2,500-acre land in Sungai Jernih, the group has a total land bank of 2,815 acres.
SUBANG JAYA (Sept 18): Land & General Bhd (KL:L&G) plans to launch its maiden industrial park at its 2,500-acre Sungai Jernih Estate in Kerling, Hulu Selangor next year, with the development expected to span over a decade.
L&G managing director Low Gay Teck (pictured) said the launch of phase one of the project is targeted for late 2026, with the re-zoning of the land from agricultural use to industrial use already in progress.
“The gross development value (GDV) is still at a preliminary stage, so we are not providing figures, but it's going to be quite a big number,” Low said at a press conference after the group's annual general meeting.
“The land cost is very low as it has been in our books for almost 20 years, which means the industrial park will generate a high profit and revenue once developed,” he added.
New launches with total GDV of RM700 mil seen in FY2026
For its financial year ending March 31, 2026 (FY2026), L&G is targeting new launches with a total GDV of over RM700 million unbilled sales stand at RM555 million, which is expected to provide earnings visibility of more than two years.
Including the 2,500-acre land in Sungai Jernih, the group has a total land bank of 2,815 acres.
Low noted that most of the planned launches are in prime and mature housing areas such as Bandar Sri Damansara, Shah Alam U10, Ampang and Mont’Kiara. Comprising mainly residential units, the demand for these projects is supported by population growth and urban migration, he said.
L&G registered property sales of RM439 million in FY2025 and RM456 million in FY2024. The group, however, declined to reveal its sales projection for FY2026.
Low said the group is converting its office building in Putrajaya into a serviced apartment at a cost of RM45 million, citing an oversupply of office space in the area.
The conversion of the vacant office tower into a serviced apartment will be carried out within 12 to 15 months. Currently, the group is finalising the layout, having already obtained approval for the change of use.
Last month, L&G announced that its net profit more than doubled to RM11.4 million in the first quarter ended June 30, 2025 from RM4.1 million a year earlier, on higher contributions from its property development and education divisions. Revenue jumped 160% RM98.56 million from RM37.18 million.
The group said its property division was the main driver for bottomline growth, with its contribution soaring almost ninefold to RM18.7 million from RM2.96 million previously, on the back of higher sales that tripled to RM85.51 million from RM26.38 million.
Shares in L&G closed unchanged at 11.5 sen on Thursday, giving the group a market capitalisation of RM342 million.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
