Glomac Berhad

Glomac looks interesting to me after this week correction. It closed at RM1.69 this week, a pull back after it hit the highest price at RM1.81 on Tuesday.
2 major projects from Glomac - Suria Stonor and Glomac Tower set to be another milestone from the developer. Both projects will be the additional landmarks in KLCC area.

Glomac Tower


Glomac and Al Batha Real Estate Co have established Glomac Al Batha Sdn Bhd to spearhead the development of the Grade A office tower which will be located at the corner of Jalan Pinang and Jalan P.Ramlee. The 40-storey tower which includes two levels of food and beverage facilities and four basement car park levels is scheduled for construction in the first quarter of 2008.

The construction of the tower, which has an estimated gross development value of RM 450 million, will take approximately 30 months to complete and will be boost in confidence for investors from the Gulf region.

Al Batha Real Estate vice-chairman Sheikh Salem Mohammad Sultan Al-Qasimi said, he hoped the relationship with Glomac would lead to more property developments here. Glomac has a 51% stake in the joint venture.

Surio Stonor


Suria Stonor is an exclusive condominium development that combines the space and ambience of a bungalow with all the conveniences of modern living.

Located in an oasis of serenity in the heart of the city within the Stonor Enclave, Suria Stonor offers some of the most generous living spaces within the vicinity of the Kuala Lumpur City Centre. Each of its 138 freehold residences, comprising triplex penthouses, duplexes and condominiums, offers a built-up that ranges from 3,000 sq. ft to over 8,000 sq. ft.

Sales in Suria Stonor have continued to climb higher. The project is now almost 80% sold, and it is on schedule for completion in April 2008. The pricing is now about RM1,000 per square foot, which is reflective of the current pricing for high end condominiums in the vicinity of the city centre