Visit Note
- Canal City land will be the next major township development for IJM Land in coming years. The company
recently signed a termination agreement with the state government for the construction of canal. Including
all necessary costs to be incurred for relocation of squatters, effective land cost would be around RM4-6
psf, which is attractive, as it is getting very difficult to secure a large parcel of land in the Klang Valley. The
leasehold development will have a GDV of RM4bn, but we believe there is upside potential given IJM
Land’s track record on stepping up pricing in its property launches.
RHB Equity 360° - (IJM Land, Consumer, Construction, Dialog, Top Glove; Technical: WCT)
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