Glomac traces its corporate history back to 1988, when the two entrepreneurs and founders of the Group, Tan Sri Dato' FD Mansor, Group Executive Chairman and Datuk Richard Fong, Group Executive Vice Chairman, joined forces to start Glomac.
The company is currently helmed by Datuk Seri FD Iskandar, Group Managing Director / Chief Executive Officer. Today, Glomac Berhad comprises more than 55 subsidiaries with involvement in every face of the real estate business encompassing property development, property investment, construction, property management and car park management.
Glomac Berhad was listed on the Main Board of Bursa Malaysia Securities Berhad on 13 June 2000. Property development remains the core focus of the Group since its inception. With this, it continues to affirm the Group's reputation as a responsible and visionary property developer with its sold record of developing townships, residential, commercial and mixed development properties.
To-date, the Group has completed more than a total sales value over RM4 billion. Moving forward, Glomac is entering into a new phase of growth as it is in the midst of launching more than RM802 million worth of property.
As a long term player committed to escalating our presence in the real estate market particularly focusing in the prime area of the Greater KL, where the Group is well established. Glomac is continuously planning and designing new projects for our existing landbank, and evaluating new landbank opportunities and looking out for new opportunities in the country.
The Early Years
The company started with the mixed development of Taman Jasa Utama in Selayang, Selangor. The turning point came in Kelana Jaya, assisting this undeveloped area in Petaling Jaya, into a bustling city it is today. Innovations such as a 6-8 storey business centre was introduced to developments such as Glomac Business Centre, Kelana Business Centre and Kelana Centre Point complete with elevators and underground parking, set Glomac apart.
Quicker progress followed in the shape of our first high end condominium, Prima 16. It is located in the exclusive area of Section 16, Petaling Jaya. This development is still going on strong, being fully tenanted and one of the prime and sought for condominiums in the area.
The Growing Years
The Group's leading township Saujana Utama located in Sungai Buloh began in 1997. From a jungle and a plantation land, it has been transformed into a thriving township with a population of more than 65,000 residents who enjoy a holistic environment compromising schools, playgrounds, hypermarket amongst its surrounded amenities. The year 1997 was also the year of the Asian financial crisis. The property industry among others went through an upheaval. By sheer determination, prudence and strength of character, Glomac came back stronger.
The gated community of Aman Suria Damansara in Petaling Jaya is a development we take great pride in. This development surpassed all expectations and led to similar developments such as Suria Residen in Cheras, followed by the Group's crown jewel, Suria Stonor, a luxury condominium in the prestigious Kuala Lumpur City Centre (KLCC) was an inspiration in itself.
Additional accomplishment followed by commercial developments Glomac Cyberjaya and Plaza Kelana Jaya. The success of Glomac Cyberjaya brought the second land acquisition in Cyberjaya for Glomac Cyberjaya 2. While Plaza Kelana Jaya's frontal lake and scenic setting has garnered the Asia Pacific Commercial Property Award in association with Bloomberg Television for Highly Commenced Best Retail Development (Malaysia).
Great as this milestone was, it was by no means the end. From managing just over 3 projects a year, Glomac now has more than 10 on-going projects including well received townships Saujana Utama in Sungai Buloh, Saujana Rawang in Rawang and various residential and commercial developments focused in Greater Kuala Lumpur.
The Coming of Age
As a visionary developer, Glomac made two overseas investments in 2006 in Melbourne, Australia and Bangkok, Thailand. In September 2011, Glomac has disposed the Bangkok investment for a total consideration of RM31million.
In the late 2007, we caused quite a stir in the market by setting a record price when we acquired a 1.3 acre property opposite the Petronas Twin Towers, KLCC. This site became Glomac Tower, an A-Grade commercial building sold en bloc for the record price of RM 1,120 per sq ft. To date, it still holds the highest commercial transaction per sqft in town. The building is now completed and we are proud of its place in the KL skyline, as testament to our commitment to Malaysian values: co-operation, hard work, perseverance and the spirit of community.