Since the inception of the Hopan Group until today, property development is still remains the major business activity of the group. The property development sector had continued to contribute positively to the bottom-line and account for more than Two-Third (2/3) of the total revenue of the Hopan Group in the past. However, the contribution from property development would be expected to reduce to 50% as contribution from other sectors has been very encouraging lately.
The Hopan Group is undertaking a property development project in this well-established township in Seremban (Negeri Sembilan) called Rasah Kemayan Golf & Country Township ("Rasah Kemayan"). This upmarket development project consists of mainly double-storey semi-detached houses. During our recent soft launch, this development has received very encouraging and positive response from the market in general. For your information, this Rasah Kemayan township has over 1,000 units of completed bungalows and semi-detached houses.
In the past, the Hopan Group had developed and completed a number of housing development projects in East Malaysia. To name just a few:
• Taman Kemayan, Kota Kinabalu, Sabah
This housing scheme, with a Gross Development Value ("GDV") of RM25.0 million, comprises 120 units of 2-1/2 storey terrace houses and 69 units of semi-detached houses. This housing project was launched in the Year 2000 and completed in Year 2003.
• Kobusak Villa, Kota Kinabalu, Sabah
This housing scheme consists of 60 units of 2-storey terrace houses. The GDV of this project is RM12.0 million. This housing project was launched in the Year 2003 and completed and handed over in the Year 2005.
• Taman Rasah Kemayan, Seremban, Negeri Sembilan (On-going)
10 units of double storey semi-detached houses with a GDV of 2.2 million have already started construction activity. These semi-detached houses come with a built-up area of 2,500 square foot and can have 2 cars parking side by side. This project is expected to complete by next year (Year 2008).