Late landing

Article Abstract:

Kinta Kellas, Malaysia's only private project management company, hopes to benefit by the delay in building Maylasia's new international airport. Kunta Kellas and the Public Works Department (PWD) currently jointly manage the airport's construction, which is three to six months behind schedule. Kunta Kellas has already taken over management of the runways, utilities, and the aircraft apron and has submitted a catch-up plan. Analysts think Kinta Kellas will be given complete control despite the PWD's resistance, which would double the company's project revenues.

Finance, Airports, Kinta Kellas

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Living off the land

Article Abstract:

Malaysian developer Lee Kim Yew has a knack for turning unimpressive and isolated tracts into attractive, sought-after resorts or upscale housing. His tremendous salesmanship and close ties to Prime Minister Mahathir Mohamad and other influential politicians, combined with the courage to dream large, have built his Country Heights Holdings into a national pace-setter. His projects include Country Heights, College Heights, Borneo Heights, Corporate Heights, and Mines Resort City. Some analysts fear he grows too ambitious, however.

Subdividers & Developers, Subdividers and Developers, Real estate developers, Behavior, Lee Kim Yew

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Where to now?

Article Abstract:

Stockbroker and novice property developer Tan Sri Abdul Rashid Hussain scored a coup recently by landing the right to buy a prime plot on Sultan Ismail Road in Kuala Lumpur, Malaysia. He and Daewoo of S Korea formed a joint venture to develop it into Vision City, with office and apartment blocks. He paid M$149.2 million for the land, at M$300 per square foot a slight premium over the market rate of M$280, but while the overall development should cost between M$500 and M$700 million, analysts project its value at M$1.2 billion.

Subdividers and developers, not elsewhere classified, Industrial Real Estate Developers, Management, Investments, Daewoo Corp., Hussain, Rashid

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