Pelaburan Hartanah Bhd says net asset value hits RM6 billion

Pelaburan Hartanah Bhd says net asset value hits RM6 billion

KUALA LUMPUR, Oct 26 — Pelaburan Hartanah Bhd (PHB) says the net asset value of its real estate properties has hit the RM6 billion level with gross annual rental income reaching approximately RM200 million this year.

Managing Director and Chief Executive Officer Datuk Kamalul Arifin Othman said PHB is still bullish and will continue investing in local real estate.

He estimated the net asset value will still hover around RM1 billion while gross annual rental income may hit RM250 million next year.

“PHB will continue focusing on three core areas — property acquisition, property development and being a master developer.

“We will continue to identify strategic areas, buy more land, and expand in every state including Sabah and Sarawak,” he said at a press conference after a property launch here Monday.

PHB’s maiden property development ‘Nu Sentral’ and ‘Menara 1 Sentrum’ in KL Sentral was launched today by Prime Minister Datuk Seri Najib Razak.

Kamalul said ‘Nu Sentral’ is 100 per cent occupied while Menara 1 Sentrum is currently 80 per cent tenanted.

“We ensure we have quality and Class A tenants who will still pay (rental) during challenging (economic) situations,” he said.

He said PHB, whose presence is mainly in the Klang Valley, has started investing in Selangor, Melaka, Penang, Negeri Sembilan and Terengganu, and will continue to invest in other states depending on the opportunities available.