Dated 7 October 2010
Canal City land deal at the final stage. The Canal City land deal is currently at the final stage. Upon relocation of the squatters and the necessary steps to settle the squatters, the land is staged to become a major township development for IJM Land in the coming years. From our recent meeting with management, we gather that IJM Land has recently signed a termination agreement with the state government for the construction of canal. To recap, under the agreement signed with the previous state government, a 18-km canal is required to be built for flood mitigation, linking Sungai Klang and Sungai Langat. Since the construction of the Smart Tunnel, the canal is no longer needed as part of the flood mitigation plan. For the development to be taken off, the JV company (50% with Keuro) will have to incur some cost for the land, including the construction of low-cost component for squatters and acquisition of replacement oil palm land for squatters. We estimate that these would translate to a price of about RM4-6 psf for the land, which is rather attractive in our view, as it is getting very difficult to secure a large parcel of land in Klang Valley. Based on management’s guidance, the leasehold development, which will be re-named later, will worth a GDV of about RM4bn, but we think there is further upside potential given IJMLD’s brand name, innovative value- added concept and step-up pricing for its property launches. The land is surrounded by a few townships - Putra Heights (by Sime Darby Property), Kota Kemuning (by Gamuda) and mid-end development Bandar Saujana Putra (by LBS). There will be two key access to Canal City land: (i) Behind Kota Kemuning; and (ii) Through Saujana Putra Interchange. We think IJMLD’s range of properties offered will be similar to Putra Heights and Kota Kemuning. The mid-end development by LBS should not affect the development potential of Canal City land, considering the IJMLD’s track record on quality, value-added concept with modern design. Furthermore, we understand that Putra Heights project is almost fully sold and Kota Kemuning is a matured township. Hence, we expect some spilt-over demand from the neighbourhood.

Source: RHBInvest







This post has been edited by kh8668: Mar 21 2012, 10:23 AM

I heard 8 years ago..

ya once in a while this name will pop out then go silence again

Talam -> IJM -> IJM Land ?

Check the history. Lots of controversies over this project, and very notably is prior to the last Malaysian GE, Talam was given the project.

Buyers beware !!!!!!!!!!!!!!

Ok already now My customers a few buying laman grand view bungalows at puchong
Ex talam project. Take over by ijm
Take from me no lock in ya..

Reading september issue of iproperty mag, interview with IJM MD, detail planning of 2,000 acre canal city township underway ..to be launch middle of next year....so only the resevoir project cancel with state government, the township is a go...total cost of canal city rm 10 billion ...
IJM MD comments


This post has been edited by amatamin: Oct 3 2011, 01:10 PM

Published: Tuesday November 22, 2011 MYT 2:35:00 PM
IJM Land set to launch "Canal City" project

SINGAPORE: IJM Land Bhd, a leading property developer in Malaysia, is set to mount a roadshow to launch the "Canal City" project in the Klang Valley early next year.

Chief executive officer and managing director Datu Soam Heng Choon said:"We are going to launch the "Canal City" in the Klang Valley middle of next year.

"So, we are going on a road show for the launch (of the project) may be by the beginning of the year. "It was called the Canal City last time, but we are going out there (during the roadshow) to give it a rebranding," he told Bernama today.

The project with a gross development value of more than RM10 billion will be sprawled over 800 hectares at the back of the Kota Kemuning and Kota Permai Golf Course in Shah Alam, Selangor.

"The design will be based on the green city concept. It is one of the the first green township that we are developing and the project will be one of the first few big green townships in Malaysia" he added.

Soam said the project, comprising a mixed township of commercial and residential components, would be fully completed within 12 and 15 years.

Touching on the city concept, Soam said a water and canal feature would be incorporated to run through the entire development.

On the probability of looking for investors, Soam said:"Not so much because we already have experience in carrying out township developments.

"We actually have township and niche project developments like "The Light Waterfront Penang" project," he said.

Spread over 60 hectares, the RM5.5 billion iconic waterfront development will comprise residential and commercial components complete with 100 per cent fibre optic infrastructure.

Soam said IJM Land was currently undertaking projects in Penang, Klang Valley, Johor, Sabah and Kuching.

Currently, IJM Land has a landbank exceeding 4,000 hectares with a gross development value of more than RM20 billion to be realised over 20 years. - BERNAMA

any opinions on this project?

Heard their 22 x 75 intermediate price start from rm500k plus...

Is this already starts selling? Hope will have a road link to Kemuning and SKVE to Putrajaya. RM500K for
link house is norm for today's market

Think only start launching next year as the show unit will be ready for viewing sometimes mid of 2012.

500k is bull shit to next year market
this land is at outskirt with a city,
the pro is west coast to kemuning and skve to putrajaya
elite is another fixed access...

This is quite sometimes ago... but does they will really launch the project on mid 2012? any news about this project nowadays?

Frankly I think you kenot get 500K for 22'x75' fr IJM, ya some people are saying that the area is too remote, but my estimated IJM selling price shd be 650K up...
Anything below than 600K shd be seriously considered

Got lake..not bad ar

Maybe the houses surrounding Kemuning Utama and Kota Kemuning will go up too hehe...I dunt think any developer so dumb to launch 22 x75 at only Rm500k plus, the stamdard now is from Rm600k dor most areas

If they are trying to sell at 650k for 22x75 for the first phase, they better come up with better product and offering better advantages. As of now, that piece of land is still relative far or deeper compare to many other project. Not that i believe they will launch it cheaper at 500k, but to launch the first phase of a project on a big peice of empty land with starting price 650k is not a wise move.....

Ya keep dreaming for your dream price to come

---

Added on December 28, 2011, 12:27 amMy experience with IJM is the selling price is not friendly, but in the other hand, IJM provides decent product. This one they will make yr eye Big Big let's wait & see, dun forget just like SP Setia & IGB, IJM has large group of die hard followers


This post has been edited by UFO-ET: Dec 28 2011, 12:27 AM

interested in this project. any further info?

for such a big land, property developers might launch at a lower price for initial phase and price will build up once interest start to come in.it is not wise to launch it too high and having problem selling it when starting 1st phase.

Ya agree, ideally it shd work tat way.
Inside news 1st phase 22x75 - 5xxK, 24x75 - 6xxK, (I doubt), if tat is the case then worth buying
Expected official launching : July 2012. Registration open now

This post has been edited by UFO-ET: Dec 28 2011, 07:55 PM