Nexgram Land partners with Chinese company MCC Overseas

PETALING JAYA (May 26): Nexgram Land Sdn Bhd has partnered with MCC Overseas (M) Sdn Bhd for its two upcoming projects, Angkasa City in Cyberjaya, and Angkasa Residence in Putajaya.

This was announced today by Nexgram Land Sdn Bhd chairman Datuk Seri Wira Ayub Haji Yaakob, at the official signing of the agreement between the two companies.

It was attended by minister of foreign affairs Datuk Seri Anifah Aman, MCC Group chairman Gou Wen Qing, and minister counselor of the Chinese embassy in Malaysia, Ma Jia.

MCC Overseas (M) Sdn Bhd is a subsidiary company of China Metallurgical Group Corporation, which ranked 354 in Fortune Global 500 in 2014 with a total revenue of US$33.7 billion (RM122.29 billion).

Angkasa City and Angkasa Residence were acquired by Nexgram Land from MyAngkasa Bina Sdn Bhd, a wholly owned subsidiary of Angkasa Koperasi Kebangsaan Malaysia Berhad for RM1.5 billion.

Construction works for both developments are expected to commence in in the third quarter of this year.

Angkasa Residence, Putrajaya, is a joint venture project between Nexgram Land and Top Valley Properties. Top Valley is the owner of 5.3 acres of Malay Reserve Land.

The entire development will comprise 659 units of soho apartments of between 850 and 1,100 sq ft. Its target market are members of Koperasi Angkasa and civil servants working in the vicinity. There will also be retail shops.

Angkasa City in Cyberjaya sits on the 5.9-acre land parcel owned by Nexgram group. The mixed-use development will comprise retail lots, one block of high-end sovo residences of 360 units, one block of five-star hotel serviced suites and one block of corporate offices.

Nexgram also plans to seek affordable housing projects in the state of Sabah and Sarawak.