Matrix Concepts seeking strategic partner to build RM4bil CBD near Seremban

SEREMBAN (Jan 28): Matrix Concepts Holdings Bhd group executive deputy chairman Datuk Lee Tian Hock said that plans to build a central business district (CBD) encompassing 46ha in its Bandar Sri Sendayan (BSS) township near Seremban will have a gross development value of RM4bil.

The Star reports that the project has a six-in-one concept and will include hospitality, commercial, shopping malls, a medical centre, residential and a convention centre.

“We are seeking a strategic partner to jointly spearhead this mega development, particularly the 400-bed medical centre project.

“We have obtained all the necessary approvals for the centre and are currently in talks with some interested parties and barring any unforeseen circumstances, this should come to fruition this year,” he was quoted as saying by the daily.

According to Lee, despite the challenges of a sluggish property market and stringent lending policies from banks, the company’s revenue projections for 2019 has remained the same.

“I am pleased to announce that we have already achieved our targeted revenue of RM1.2bil for the half-year of our financial year ending March 31, 2019, which is two months ahead of target,” he said..

He said that  Matrix Concepts will soon embark on its second project in the Klang Valley, following the success of its first project in Kuala Lumpur, residential apartments near the Putra World Trade Centre which were already 85% sold out.

He also noted that a project in Melbourne that comprised of 52 boutique low-rise apartments, which was known as M.Carnegie had been completed and the units handed over to buyers.

“The project marked an important milestone for Matrix and we have since acquired new land banks in Greenvale and St Kilda in Melbourne for new projects.

“Both projects, with a GDV of A$100mil, are expected to be launched this year,” he said.

Additionally, Lee was reported as saying that Matrix Concepts would build an Islamic financial district in Indonesia this year, and had entered into a joint venture agreement with PT Bangun Kosambi Sukses and PT Nikko Sekuritas Indonesia to do so.