BATU GAJAH: A local housing developer, Muda Awam Sdn Bhd (MASB), is investing RM20 million to redevelop the abandoned Medan Bemban Mesra mixed housing project involving residential and commercial units.
MASB Executive Director G S Yeoh said his company has taken the initiative to rehabilitate the project after the original developer ran into financial problems.
"We've already completed 16 semi-detached units and will build another 50 units in two phases. Construction will start in July," he said.
MASB was now focusing on rehabilitating abandoned projects and in this regard, it would build basic infrastructures at Medan Bemban Mesra, Yeoh told Bernama on Monday, May 31.
Yeoh also said that MASB was negotiating with a company proposing to build a hypermarket in the area.
He said MASB would prepare a 5.72ha site at a strategic location at the redevelopment area.
Yeoh said the completed semi-detached houses would be sold at RM133,800 a unit.
"House prices under the second phase may likely be raised to RM148,000, depending on the hike in construction costs," he said.
Based on the market survey carried out by the company, the price was justified when compared with house prices in surrounding areas, he added. -- Bernama
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