Bina Puri to develop Jalan Pasar land that has investment potential of RM40.6mil

KUALA LUMPUR: Bina Puri Holdings Bhd signed an agreement with Persatuan Chha Yong Fay Choong Kuan on an investment of a two acre development in Jalan Pasar which guarantees an investment return of RM40.6 million in 14 years, the Group said in a press statement on Wednesday, Nov 24, 2010.

"We are very optimistic that the development will be well-received as it is strategically located at a hotspot in Jalan Pasar," Bina Puri's group managing director Tan Sri Tee Hock Seng.

Bina Puri, via its indirect unit Bina Puri Properties Sdn Bhd (BPPSB), will invest RM16 million, the estimated construction cost, to build two blocks that consists 24 units of 4-storey shop offices and one unit of 3-storey shop offices. The development will also include facilities like recreational halls, retail shops, office units and basement parking.

The development is to commence in 1Q2011 and be completed in 14 months.

Bina Puri is a construction company with 35-years experience. Its main activities are in civil engineering and building works. It has 15-years experience working overseas. Moreover, it developed the Bukit Idaman township in Selayang and the high-end Jesselton Condominium in Kota Kinabalu.