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Glomac Berhad sold 50% for Tower B of 121 Residences over the weekend


13 December, KUALA LUMPUR – Glomac Berhad, a public listed company on the main board of Bursa Malaysia Securities Berhad, on 8 December 2019, celebrated its 30th anniversary with the official launch of 121 Residences in conjunction with the Home Ownership Campaign (HOC) 2019 to make homeownership an attainable dream for young Malaysians, at Glo Damansara, Main Concourse.

Tower B of 121 Residences, which is located in Petaling Jaya sold more than 50% over the weekend. This brings the takeup rate for Tower A of 121 Residences to 95 per cent after its soft launch in August 2019. Meanwhile, Plaza @ Kelana Jaya also received good responses. To date, there are 200 and 130 remaining units for Tower B of 121 Residences and Plaza @ Kelana Jaya respectively.

Buyers of 121 Residences enjoyed a waiver on the fee for Memorandum of Transfer (MOT), Sales and Purchase Agreement (SPA), legal fees and disbursements.

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More than 70% of 121 Residences’ buyers are below 40 years old. In view of its young demographic, 121 Residences features co-living facilities to encourage a vibrant and social community lifestyle among its residents.

For instance, 121 Residences’ Club House facilities located at level 6 include a co-working lounge and reading room where residents can mingle with each other while doing their work or studies. Other attractive features include a swimming pool, a gymnasium, a multi-purpose court and a surau, just to name a few.

Our 30th anniversary celebration would not have been possible without the support of our loyal buyers over the years. As part of giving back to the community, we aim to make it easier for young Malaysians to have a roof over their heads via the attractive sales packages that are offered in conjunction with the HOC 2019. We are pleased that the takeup rate of 121 Residences and Plaza @ Kelana Jaya have been very encouraging. -Herbert Leong, General Manager, Sales & Marketing of Glomac Berhad-

For the quarter ending July 31, 2019, Glomac had announced a net profit of RM3.46 million, up from RM1.01 million a year earlier, on lower revenue of RM51.87 million. As of July 31, its balance sheet remained robust with a cash position of RM159.9 million.

Glomac’s 30th anniversary event at Glo Damansara attracted a strong crowd of more than 300. This is in line with Glomac’s successful revitalisation plan for Glo Damansara Mall with new anchor tenants signed for long term leases that increased its occupancy to 74%.

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