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KUALA LUMPUR (May 27): Bina Puri Holdings Bhd is jointly developing a RM204 million residential development in Johor with Malaysia Pacific Corp Bhd (MPCorp), according to a report by The Edge Financial Daily today.
The development will consist of 412 units of two-storey terraced houses on 24.41 acres (9.87ha) of land in LakeHill Resort City, a township near Masai.
In a filing with Bursa Malaysia yesterday, Bina Puri said its wholly-owned subsidiary Bina Puri Properties Sdn Bhd has signed a joint development agreement with MPCorp’s wholly-owned unit LakeHill Resort Development Sdn Bhd, which is the landowner, for the proposed project.
Bina Puri said the proposed project is Phase 1A1 of Taman Nusa Damai — part of LakeHill Resort City. The units will feature built-ups ranging from 1,700 sq ft to 1,800 sq ft.
Bina Puri group executive director Matthew Tee said the joint development is a modest investment that will herald a bigger role for the group in property development in this region that is a stone’s throw from Singapore.
“Iskandar Malaysia is fast becoming the economic powerhouse of the country. The group’s long-term plan is to continue to position itself to play an active part and carve out a stake in this economic corridor,” he said.
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