L&G managing director Low Gay Teck (right) answering questions from the media as chief financial officer Benjamin Leong looks on.

KUALA LUMPUR: L&G Group is gearing up for a series of new launches, starting with the affordable serviced apartment project, Kamelia @ Bandar Sri Damansara, featuring 602 units with an estimated gross development value (GDV) of RM156mil. Pre-registration for Kamelia commenced in August 2024, reflecting strong anticipation from potential buyers.

Looking ahead, L&G Group has ambitious plans for 2025, with multiple launches in the pipeline including U10 Aria Rimba Phase 1 and the Sri Damansara Club High-Rise Apartments.

U10 Aria Rimba Phase 1 will introduce 150 units of terrace houses with an estimated GDV of RM113mil, catering to families seeking affordable landed homes in a strategic location while the Sri Damansara Club High-Rise Apartments will see 1,008 units. The high-rise serviced apartments, with a GDV of RM621mil, are aimed at tapping into the growing demand for urban living in prime locations.

Currently, L&G Group is managing five ongoing projects, which are:

1. Damansara Livista: This project consists of 700 units of serviced apartments located in Bandar Sri Damansara, conveniently positioned next to the MRT station of Bandar Sri Damansara West, offering excellent connectivity for residents.
2. Sena Parc Phase 1D: Located in Senawang, Negeri Sembilan, this phase includes 162 units of double-storey terrace houses, providing spacious living for families in a suburban setting.
3. Sena Parc Phase 1E: Also situated in Senawang, this phase offers 80 units of single-storey terrace houses, catering to those seeking single-level living options.
4. Astoria Ampang Phase 2: Launched in July 2022, Astoria Ampang Phase 2 comprises 506 units of serviced apartments located off Jalan Ampang, Kuala Lumpur, aimed at urban dwellers seeking convenience and lifestyle amenities.
5. The WYN Residences: With 1,546 units, this development is strategically located next to IOI Puchong Mall and IOI Puchong LRT station in Bandar Puchong Jaya, providing easy access to shopping and public transport.

For the financial year ended March 31, 2024, L&G Group reported a full-year revenue of RM216.6mil. However, this represents a 13% decline compared to the previous financial year (FY2023), primarily due to lower contributions from the property division. The decrease was mainly attributed to the early stages of construction for The WYN Residences and Damansara Livista, along with lower sales from Astoria Ampang and Sena Parc.

L&G Group’s upcoming launches and ongoing projects underscore its commitment to meeting the housing needs of various market segments, from affordable apartments to family-friendly terrace houses, while continuing to expand its footprint in key locations.