An artist s impression of the Aotea Central Over Station Development (OSD) in Auckland City centre.
KUALA LUMPUR: CGS-CIMB Equities Research is positive on Malaysian Resources Corp Bhd’s (MRCB) foray into New Zealand with Panuku Development Auckland to undertake a transport-orientated development (TOD) there with a GDV of RM1.3bil.
“This is a positive development for its overseas property development venture and one that leverages on the group s experience in TODs in Malaysia, ” it said on Wednesday.
CGS-CIMB Research said assuming a five to eight-year development period for the mixed commercial and residential project, it estimates an annual revenue of RM163mil to RM260mil per annum.
Relaxation of MCO, vaccine good for market
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Relaxation of MCO, vaccination positive for market
thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.