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KUALA LUMPUR (Nov 29): MK Land Holdings Bhd is resuming developments at its 3,000-acre mixed development project, Bandar Teknopolis Perdana (formerly known as Lembah Beriah) in Perak, after halting the project following the launch of the first phase of residential homes 10 years ago.
The mammoth project was placed on the back burner, as the property developer had issues finding and providing strategic access to the site, according to its chief executive Lau Shu Chuan.
The group is now looking at kicking off the next phase of the project, which will entail the development of a campus and industrial properties, on completion of the Alor Pongsu elevated interchange by PLUS Malaysia Bhd earlier this year.
“The project came to a delay after we launched the first phase of residential properties about [a decade ago]. However, we are recommencing works there, as there is better access to the site now and we are looking for the right investors to work with us on this project,” he told reporters after the group’s annual general meeting (AGM) today.
MK Land has just obtained approval from the Kerian District Council to rename the development to 'Bandar Teknopolis Perdana'.
At 2.48 p.m., MK Land’s shares was trading 1.8% higher at 28.5 sen, giving it a market value of RM343.31 million. — theedgemarkets.com
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