MALAYSIA LAND Properties Sdn Bhd (Mayland) will launch properties with a gross development value (GDV) in excess of RM1.2 billion in Kuala Lumpur and Johor this year.

The projects include Plaza Damas Phase 3 offices in Sri Hartamas (RM200 million), four serviced apartment blocks (RM600 million) in Sri Hartamas and Sri Putramas 3 on Jalan Kuching (RM300 million).

Group general manager Yap Boon Teck said two other projects will be launched in Johor, which include 400 units of townhouses and 2,000 units of serviced apartments in Mount Austin.

"Both these (Johor) projects will take off this year," Yap said, adding that RM1.2 billion GDV does not include the Johor projects.

He was speaking to reporters at the signing and mock cheque presentation ceremony between Mayland and two of its buyers — Koperasi Pendidikan Islam Malaysia Bhd and Maximerge Capital Sdn Bhd.

Maximerge bought 18 out of the 72 units of Plaza Damas Phase 3 for RM45.7 million while Koperasi Pendidikan Islam has acquired eight units for RM20.07 million.

Maximerge was represented by its chief executive officer Terence Yooi Sing Keen while Koperasi Pendidikan Islam was represented by its chairman Mustapa Kamal Maulat.

According to Yap, 95 per cent of the 72 units have already been sold since its soft launch last week.

He added that three service apartments — Chelsea, Charton and Cliveden will be built above the new Plaza Damas.

A 27-storey apartment block will also be built on an adjacent piece of land.

At present, Mayland has some 202ha of land in Klang Valley and Johor.

"We are in the final stages of acquiring two more parcels of land in Selangor measuring 4.05ha," Yap said.