Angkasa to venture into building affordable houses by 2016

KUALA LUMPUR: The Malaysian National Co-operative (Angkasa), in a move to be involved in high-impact activities, will venture into real estate in September with the construction of 500 units of affordable houses in Alor Gajah, Melaka.

The project, with a gross development value of RM5.8 million, will be via subsidiary MyAngkasa Bina Sdn Bhd under a joint venture with Koperasi Pembangunan Daerah Alor Gajah Melaka Bhd.

Angkasa president Datuk Abdul Fattah Abdullah said that under the pioneer project, 47 terraced houses from RM140,000 each, would be built specially for members by 2016.

“Our subsidiary, MyAngkasa Bina Sdn Bhd, will undertake the construction on a 1.6ha site in Alor Gajah,” he said after the signing of a collaboration agreement between Angkasa and Koperasi Pembangunan Daerah Alor Gajah Melaka yesterday.

Abdul Fattah said five other cooperatives with a total landbank of 90.2ha had approached Angkasa, the sole apex organisation for cooperatives in the country,

to build affordable houses in Selangor, Perak, Johor and Kelantan on a joint-venture basis. — Bernama


This article first appeared in The Edge Financial Daily, on May 08, 2014.