Following the merger of IJM Corp Bhd subsidiary IJM Properties Sdn Bhd and RB Land Holdings Bhd, the newly formed IJM Land Bhd could now be looking to reposition its wide range of properties under various asset classes.

With the recent move, IJM Land now sits on an enlarged landbank of over 10,500 acres with a total gross development value of RM26 billion. This is being partly generated by 60 ongoing ventures on local and international shores and the launching of 28 new projects before March next year.

The stock of properties ranging from luxury residences in Kuala Lumpur City Centre to low-cost units in emerging townships around the country has prompted IJM Land managing director Datuk Soam Heng Choon to label the company “a property supermarket".

In dealing with its smorgasbord of offerings, IJM Land may consider classifying its various property types to better market them to buyers from specific economic brackets, said IJM Corp Bhd deputy managing director Teh Kean Ming.

"We are mulling the idea," said Teh. "Perhaps, it will be something along the lines of having a platinum class for our top-end products and other grades for the rest … ."

High-end residential properties priced from RM1 million to RM7.2 million currently make up 20 per cent of IJM Land’s total offerings.

Among them are the Ampersand condominium in KLCC, Riana Green East in Wangsa Maju, KL, and The Light integrated development in Penang.

IJM Land’s Soam said that given the prevailing soft market conditions, it will focus on areas that remain positive such as Penang and Sandakan in Sabah.

Apart from The Light, the company is developing the RM535 million Pearl Regency luxury condominium on the island while in East Malaysia, it has RM1 billion worth of projects.

In challenging markets such as Johor Baru, he said the company will "tweak existing products to meet current market needs", concentrating on medium to medium-high products but slowing down on units below RM250,000.

"We are marketing Pearl Regency under the Malaysia My Second Home programme," Soam said.

"In the next two months, we intend to offer it to the Korean market and if response is encouraging, we might offer them our other projects too."

In addition, IJM Land is due to unveil its maiden overseas venture – a RM500 million upmarket residential and retail development in China’s automotive city of Changchun.