Datumcorp gears up for RM3.45 bil worth of launches over the next few years

PETALING JAYA (Dec 3): Boutique and high-end developer Datumcorp International Sdn Bhd is gearing up for the launch of three mixed-use developments worth a total of RM3.45 billion over the next few years.

Citing positive response to its maiden mixed-use development Datum Jelatek, Datumcorp, a wholly-owned subsidiary of the State Development Corp of Selangor (PKNS) is looking to launch Datum Setiawangsa in Setiawangsa by 2017.

Similar to Datum Jelatek, the RM350 million Datum Setiawangsa will also be a transit-oriented development situated next to the Setiawangsa LRT station. The developer is planning 611 residential units in two towers on a 3.1-acre parcel.

Next up is a RM1.1 billion joint-venture project with HCK Group. Located on a 10-acre land in Subang Bestari, this development is set for a tentative launch in 4Q2017.

Last but not least is Datum In-City. This project is located on a 15-acre land in Petaling Jaya behind the Western Digital and Nanyang Siang Pau offices and next to the Subang National Golf Club. It will comprise office and residential as its two main components, with a smaller commercial segment.

The RM2 billion Datum In-City is targeted to be launched after 2018.

Meanwhile, the developer has opened for registration the second residential tower (Tower A) of Datum Jelatek, which offers 167 units ranging from 550 sq ft studios to 1,300 sq ft, 2-bedroom condos. Prices start from RM782,225.

Datum Jelatek’s first residential tower (Tower D) was launched 2015 and has achieved a 90% take-up rate. Tower D has similar built-ups with Tower A, with prices starting from RM640,000 or RM1,000 psf.

Moving forward, Datumcorp plans to acquire more land beyond Selangor and collaborate with the private sector and GLCs for future projects.

“We hope our ongoing development can generate some capital for future landbanking activity. PKNS will still have land but we will look beyond that. We may look [outside the state], including in Penang and Johor,” Datumcorp COO Shytul Shahryn Mohamad Shaari told City & Country.

This is an excerpt of the report in the Dec 5, 2016 issue of City & Country, the property pullout of The Edge Malaysia. Subscribe here for your personal copy.