DPS to undertake RM150 mil mixed development project in Melaka

KUALA LUMPUR (May 19): DPS Resources Bhd, through wholly-owned subsidiary Shantawood Sdn Bhd, will undertake a mixed development project with a gross development value of RM150 million in Alor Gajah, Melaka.

In a filing with Bursa Malaysia, the property developer and furniture maker said Shantawood yesterday signed a joint-venture agreement with Rembia Properties Development Sdn Bhd (RPD), which owns the 10.48-hectare freehold land where the project would be sited.

RPD would be entitled to RM19 million from the development, to be paid over seven years, DPS said. 

"The joint venture represents an opportunity for the group to build up landbank and ensure sustainable growth for DPS over the next few years," group managing director Edward Sow Yuen Seng said in a press statement. 

According to him, the outlook of the property market in Melaka is expected to recover gradually in 2021 with the allocation of funds from the state government to spur economic activities.

Get the latest news @

Subscribe to our Telegram channel for the latest stories and updates 

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. Banking on heritage
  2. LBS eyes both local, foreign investors for M-WEZ project in Melaka
  3. Fake news on entire family succumbing to Covid-19 — Melaka police