PRG Holdings Berhad Annual Report 2018

Embayu Damansara West (“Embayu”) The group targets to unveil its second property development called Embayu @ Damansara West (formerly known as Subang U5 Land, Selangor) in the 3 rd quarter of 2019. Embayu is an affordable condominium project with three towers condominium blocks that comprises 650 units with unit’s floor area ranges from 800 to 1,000 sq ft in size and are priced below RM500,000. The total GDV for the project is approximately RM260 million and the Group is optimistic on the demand for this project as the pricing is targeted at middle-income households, which is in line with the government’s increased efforts to enable people to buy homes for own occupancy. The Management is in the midst of submission for strata application prior to advertising permit and developer’s license application. Preparatory work at site is on-going and we look forward to the launch in the 3 rd quarter of 2019. Batu Gajah A mutual agreement was signed between Premier Construction Sdn. Bhd., SPNB Aspirasi Sdn. Bhd. and Cash Key (Ipoh) Sdn. Bhd. on 10 October 2017 to acquire 213 sub-divided parcels of 99-year leasehold land totalling approximately 8.7 acres in Batu Gajah, Perak. The land acquisition transaction was completed in May 2018. The project is a collaboration between the Group and Syarikat Perumahan Negara Bhd (“SPNB”). 2018 A N N U A L R E P O R T 18 group managing director’s management discussion and analysis (continued)