FCW to launch RM1.5b GDV Jalan Segambut project, in Q3 2016

KUALA LUMPUR: FCW Holdings Bhd, a contract manufacturing company which is diversifying into property development, aims to launch its maiden property project with a gross development value (GDV) of RM1.5 billion in Jalan Segambut, in the third quarter of next year.
"We have already obtained approval for the master layout plan on that. And we are targeting to launch the phase one by third quarter next year," FCW non-executive director Anderson Thor Poh Seng told reporters after its AGM today.
"The phase one would be about RM500 million in GDV. There will be about 800 to 900 units of residential apartments," he added.
Thor said he expects the project to start contributing to the company's revenue in 2017.
In 2013, FCW entered into a 50:50 joint venture with IJM Land Bhd to develop the 16-acre piece of land in Jalan Segambut into mixed residential and commercial property projects.
FCW acquired the land from its sister company, Goh Ban Huat Bhd, in 2007 for RM86 million cash.