Property Development

Through its subsidiary Must Ehsan Development Sdn Bhd, Encorp is the 70% owner of two properties strategically located in the Klang Valley.

The residential property development is Cahaya Alam that is located on 209 acres parcel of leasehold land. This development consists of 2,414 units of linked and semi-detached houses, shop offices, apartments and flats with an estimated gross development value of RM800 million. The expected date of completion is year 2016.
 

The other property development is the prestigious “Encorp Strand”, located on a 45.6 acre land-bank situated in Kota Damansara, a prime area which is quickly becoming one of the most sought after areas in Selangor. This is a mixed development of shop offices, business suites, service apartments, shopping mall and office towers. It incorporates el-fresco dining along the main cobblestoned boulevard and stylised landscaping and lighting. The estimated gross cost of development value is RM1.3 billion and is expected to be completed in year 2014.
 

Through its other subsidiary Encorp Must Sdn Bhd, Encorp is the 75% owner to the high-end mixed residential development located on a 47.1 acre leasehold land at Section U10, Shah Alam. This development is expected to consist of souk retail shops, serviced apartments, residential homes and a commercial mall. The estimated gross development value is RM500 million and expected to commence by 2012.
  

In 2008, Encorp acquired a 5.831 acres of freehold land located at Batu Feringghi, Penang. This future development is expected to be of a hillside villa development with the estimated gross development value of RM210 million. Commencement date is expected in year 2011.

Encorp acquired a parcel of 3.3 acres freehold land in Nusjaya, Johor. Encorp plans to develop a first-rate commercial and serviced apartments development project project on the land with an estimated gross development value of RM500 million. Commencement date is expected in year 2011.