Malaysian Resources Corp Bhd (MRCB) plans to unveil its five-acre Tria condominium project in May 2017.

MRCB's Chief Operating Officer Kwan Joon Hoe revealed that the development will consist of three towers with a total of 734 flats, with sizes ranging from 1,500 sq ft to 2,000 sq ft.

Tria is the second phase of MRCB's 17.3-acre mixed-use project in Jalan Klang Lama, Kuala Lumpur known as 9 Seputeh, which has a gross development value (GDV) of RM2.1 billion.

It will offer larger apartments catering to people who want to upgrade to high-rise condos, said Kwan. "We haven't finalised the selling price yet, but it is expected to be about five percent to 10 percent higher than phase 1, Vivo.”

The average price in the 7.7-acre Vivo stands at RM800 psf. Since its launch in 2014, 80 percent of its 1,111 condos has been sold at built-ups measuring between 775 sq ft and 2,500 sq ft.

Meanwhile, MRCB is still mulling when to roll out its Semarak City integrated project in Jalan Sultan Yahya Petra. The 27.41-acre freehold development in the heart of Kuala Lumpur will feature 3,400 units of serviced apartments, as well as shops, a mall and small office/home office (SoHo units).

"During a slow market, we have to be careful on the launch timing as we do not want to hold too much stock. Tentatively, we hope to launch Semarak City at the end of the year" he explained.

Semarak City's residential component, which includes 1,200 apartments under Phase 1, are intended for middle-income households, with prices ranging from RM500,000 to RM600,000.

Furthermore, Kwan highlighted that MRCB is performing well despite Malaysia's sluggish real estate market. In fact, its revenue soared by 166 percent year-on-year to RM1.03 billion in the last quarter of 2016, while profit before tax reached RM238.6 million, with its property development arm accounting for most of its earnings.

He is also bullish on the company's outlook, given its plan to launch more developments targeting various income groups, like Tria, Semarak City and Sentral Suites, an upcoming project at Kwasa Sentral.

"We have a land bank of 468 acres in prime areas in Malaysia with a GDV of RM50 billion. This could keep us busy for the next 20 years, and we are always looking out for prime land to increase our land bank" Kwan added.

Among projects by MRCB are:

1. Sentral Suites, KL Sentral 2. 9 Seputeh, Old Klang Road