UDA, SEDC ink deal for Kuching property development project

KUCHING (Sept 1): UDA Holdings Bhd (UDA) and the Sarawak Economic Development Corporation (SEDC) have inked a joint development agreement involving a mixed development project with an estimated gross development value (GDV) of RM480 million.

To be constructed on 5.1 hectares of leased land, the project comprises the construction of two 21-storey apartment blocks, equipped with a gymnasium, swimming pool, a playground, shop offices and a 12-storey, 260-room hotel with various facilities, located near the Pending Heights industrial area.

The agreement was signed by UDA president and chief executive officer Mohd Salem Kailany and SEDC general-manager Abdul Hadi Abdul Kadir, witnessed by Sarawak Chief Minister Datuk Patinggi Abang Johari Tun Openg and Entrepreneur Development and Cooperatives Minister Datuk Seri Wan Junaidi Tuanku Jaafar.

In his speech at the signing ceremony here today, UDA chairman Datuk Jalaluddin Alias said the UDA-SEDC collaboration would be able to contribute towards the development of entrepreneurs and industries in Sarawak.

“Indirectly, the collaboration supports the Entrepreneur Development and Cooperatives Ministry’s aspiration in revitalising entrepreneur activities and boosting the economy, especially for Bumiputera entrepreneurs,” he said.

Meanwhile, SEDC chairman Tan Sri Abdul Aziz Husain said that as the land owner, SEDC will derive 20 per cent of the GDV which amounts to more than RM100 million, higher than the value of the land.

EdgeProp Malaysia Virtual Property Expo 2020 (VPEX 2020) is happening now! Find out more exclusive projects and exciting deals here

Stay safe. Keep updated on the latest news at
Click here for more property stories

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. COVID-19: JKR headquarters employee tests positive
  2. KL, Ipoh, Penang, Kuching among cities approved for transit flights via Singapore
  3. Kuching: Four flyovers to be completed next year