PENGURUSAN Danaharta Nasional Bhd yesterday told developers to postpone opening new industrial sites or development land until existing excess supply is taken up.

"Developers should consider this before making applications. They should take a second look at what we have to offer," said senior general manager (property) Datuk Johan Ariffin.

Speaking at a media briefing in Shah Alam yesterday on the eighth nationwide property tender, he said many developers have made good buys by participating in Danaharta's tenders.

"For example, for agricultural land, rather than apply for it, they should look at what we have, as well as development land with all the conversion in place," Johan said, adding that the bulk of properties are located in main growth areas.

"Don't go reinvent the wheel, as we've got it here," he added.

Johan said Danaharta has sold foreclosed properties worth RM1.48, billion out of RM2.4 billion offered for sale, representing a recovery rate of 95 per cent since its first nationwide tender in November 1999.

He is optimistic that the tender, to be held from August 6 until September 5 this year, will be well-received based on the better economic sentiment and business conditions.

The tender will involve 293 properties with a total indicative value of RM780.8 million.

Of that, 86 are industrial properties with a value of RM261.6 million, 46 are development land (RM372.5 million), 34 are commercial land (RM45.1 million) and 14 are agricultural land (RM42.1 million).

There are also 106 residential properties with a value of RM33.2 million, while others include two retail properties (RM10.2 million). four offices (RM13.7 million) and one The eighth tender offers a good mix of properties located all over Malaysia which would appeal to various groups of buyers. Johan said Danaharta has land suitable for residential development which will be interest to developers.

For manufacturers planning to expand their operations, Danaharta has various types of industrial properties on offer including light to medium industrial factories, factory complexes and industrial land. He said there are also some specialised factories such as a rice mill factory and a plywood factory.

Besides bigger properties, the tender also offers a selection comprising shophouses, retail lots and shop-offices for smaller investors with indicative values starting from as low as RM16,000 each.

For house buyers, there are 106 residential properties on offer, which are concentrated in prime locations in Johor, Penang, Selangor and Kuala Lumpur.