DANAHARTA TO OFFER FOR TENDER RM235 MILLION INDICATIVE WORTH OF PROPERTIES

Danaharta to offer for tender RM235 million indicative worth of properties

KUALA LUMPUR: The initial tender of foreclosed properties under Pengurusan Danaharta Nasional Bhd this year will see an indicative value of some RM235 million worth of real estate up for grabs.

Muhammad Solleh Ramli, head of property department of Prokhas Sdn Bhd which manages the tender, said these properties were located across the country.

“The tender involves mostly local property investors,” Muhammad Solleh told theedgeproperty.com in a telephone interview on March 29. He added that the initiative would be held on a quarterly basis this year.

A property undergoes foreclosure when the owner’s right to the real estate is terminated due to failure to fulfill debt obligations to finance the property.

Prokhas, a wholly owned entity of Minister of Finance, Inc has been tasked to manage the residual assets of Danaharta since Jan 1, 2006.

Pengurusan Danaharta Nasional Bhd was established on June 20, 1998 to tackle non-performing loans (NPL) during the Asian financial crisis then. The NPL resolution agency ceased operations on Dec 31, 2005.

Of the total residual assets worth RM52.44 billion managed by Prokhas, RM2.69 billion had been converted into cash as at Dec 31, 2008, latest updates by Prokhas show.

Danaharta’s upcoming real estate tender exercise, a month-long initiative from April 5 to May 4 this year, involves a total of 110 property listings across multiple segments. These include agricultural land, and development projects, besides residential, commercial, industrial, office, and retail units.

Residential entities which make up the biggest portion of 40% comprising 44 listings, include landed and high-rise units with indicative values of between RM100,000 and RM630,000.

The commercial segment with 15 listings including shopoffices will see properties with indicative price tags of between RM110,000 and RM29.47 million. The industrial portion with 18 listings including vacant sites and factories, have indicative values of RM110,000 to RM7 million.

The nine office listings carry indicative prices of between RM200,000 and RM612,000 while the eight retail entities are indicatively priced between RM301,500 and RM13.16 million.

Meanwhile, the three agricultural sites for sale have indicative prices of RM5,900 to RM600,000 while the 13 development initiatives are indicatively valued at between RM400,000 and RM24.44 million. Notable development sites include a freehold vacant commercial entity measuring 8.53 acre (3ha) along the western side of Persiaran Klang within Taman Bunga Negara in Section 27, Shah Alam, Selangor.

Among residential properties, a freehold 2-bedroom apartment with a floor area of 950 sq ft within the Petaling Indah Condominium off Jalan Sungai Besi in Kuala Lumpur may be worth watching.

Among commercial properties, it is worth noting the freehold mixed commercial entity within Plaza Utama (indicative price of RM29.47 milllion) along Jalan Muthupalaniappa in Bukit Mertajam, Penang. The property with a floor area of 398, 446 sq ft comprises retail lots, a supermarket area and hotel tower, besides offices.

Notable industrial entities include a factory complex within a 15 acre (6ha) freehold site (indicative price of RM7 million) along Solok Raja Lumu and Lebuh Raja Lumu within the Pandamaran Industrial Estate in Port Klang, Selangor.

A listing under the office category shows a leasehold office unit with a floor area of 1,143 sq ft within Leisure Commerce Square in Petaling Jaya, Selangor, going for RM200,000.

Notable among retail entity listings are 80 retail lots and one floor of office space within Plaza Hang Tuah (pictured) along Jalan Tun Mamat, Melaka, with an indicative price of RM13.16 million. The property has a net lettable area of 347,438 sq ft .

Among agriculture sites, a freehold vacant land measuring 5.161 acres (2ha) off Jalan Padang Matsirat (indicative price of RM600,000) in Pulau Langkawi may attract investors’ attention.

Kindly be informed that Metro Homes is the panel agent for Danaharta and we can assist you in submitting the tender for all danaharta properties, call 03-77846088 now.

(extracted from Metro Homes website)