Melaka-based property developer, Teladan Setia Group Berhad has announced that it will acquire 338 acres in Jasin Melaka for RM117.9 million to develop a gated and guarded township.
The 5 plots of land will be purchased by its subsidiary from Bakat Muhibbah for the purpose of development, these parcels are strategically located between Tiara Melaka Golf & Country Club and Orna Golf and Country Club, just after the north-east boundary of Central Melaka.
To date, all of Teladan Setia’s developments have been in Melaka with most of them around the central region. With one of the lowest residential property overhangs in Malaysia, the Group continues to see great potential in the state and has been active in accumulating land. Just recently in April 2021, the Group announced the purchase of a 519.8-acre parcel of land in Jasin.
The five parcels of land are expected to be used for the development of gated and guarded townships which the developer feels is a good bet as more people will be spending time at home due to COVID-19 pandemic. Based on this, landed properties with spacious living areas will continue to be highly sought after for the foreseeable future. Moreover, Teladan believes consumer buying patterns have recently been shifting towards lifestyle living and security.
Teladan has been enjoying enviable returns for the year, reporting revenue of RM81.9 million with net profit at RM14.8 million. This translated to a net profit margin of 18.0%, which was 110 basis points higher than the 16.9% recorded in the full year ended 2020.
