The Magna Prima group is currently working on four projects in the Klang Valley with a total gross development value (GDV) of RM800 million.

The newly-launched RM169 million Magnaville in Selayang; RM309 million The Avare; RM269 million Dataran Otomobil in Shah Alam and RM56 million Casa Prima in Kepong. The units of the latter are 65% sold.

Although the group might not have a large land bank, said chief executive officer Lim Chong Choy, it will focus on pocket-sized niche developments with high GDVs in the Klang Valley.

The Avare, a high-end condominium project, is located on an acre of freehold land and is said to be a significant contributor to the group's bottom line. The sales of the project had jumped sixfold last month, following the removal of the real property gains tax from April 1, said Lim.

The group is targeting to sell the remaining 20% of the units by September. He added that many foreigners are looking to invest in high-end condominiums of above 2,000sq ft.
 
While the 11-acre Magnaville will have over 1,000 residential units in three blocks of 20-storey apartments. The first block of 358 units was recently opened for sale last month with 202 of its units sold within two weeks.

Dataran Otomobil, a mixed and residential development, will comprise over 1,400 units, 870 of which will be apartments, 336 shop offices and 200 shop lots. Phase 1 is already 90% sold.

Even though the group will focus on high-end developments, it will also continue to develop affordable medium range properties priced below RM150,000.

Lim said the key aim is to become a prominent name through a "quality-driven culture" that delievers the best services and products.