Berjaya Land unit sells condos to Hanju Savanna

By THE STAR

KUALA LUMPUR: Berjaya Land Bhd (BLand) subsidiary Berjaya Golf Resort Bhd has entered into a sales and purchase agreement (SPA) with Hanju Savanna (M) Sdn Bhd to sell en bloc 204 units of Savanna Bukit Jalil condominiums for RM64mil.

Chief executive officer Datuk Francis Ng said Berjaya Golf, which sold the entire Block B to Hanju Savanna, was currently negotiating with the latter on the sale of Block D. “We are still finalising the details and hope to conclude the deal soon. We will sell the entire block and it is up to them to manage the condominiums,” Ng said after the SPA signing yesterday.

Ng signed for BLand while Hanju Savanna was represented by chief executive officer Kim Tae Kyun.

Also present were Berjaya Corp Bhd executive director Datuk Robin Tan and Hanju I&D president Choi Jung-Ik.

From left: Hanju I&D president Choi Jung-Ik, Berjaya Corp Bhd executive director Datuk Robin Tan, Hanju Savanna (M) Sdn Bhd chief executive officer Kim Tae Kyun and Berjaya Land Bhd chief executive officer Datuk Francis Ng looking at the Savanna Bukit Jalil Condominiums show model at Berjaya Property Gallery on May 8, 2007

The Savanna Bukit Jalil development covers an area of 5.05 acres with a total gross development value of RM121mil.

Berjaya Golf Resort has to date sold 80% of its Block A units. It would also be introducing 32 condo villas at the adjoining site by year-end. On its financial performance, Ng said he expected an increase in net profit for the financial year ended April 30.

On the development at Berjaya Hills, Tan said the replica of a German castle would be ready by year-end. The resort currently has a replica of a 16th century French village called Colmar Tropicale, a Japanese Garden and spa hotel.

Meanwhile, Kim expected the 204 units to be fully taken up within three to four months. He said Hanju Savanna would remodel the units to suit the needs of South Koreans.

“We are targeting senior Koreans who are staying in South Korea and we have managed to market a number of units within a short period,” he added.

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