Bina Puri chairman Tan Sri Wong Foon Meng said Bina Puri and CCCC Dredging will form a 50:50 consortium to undertake the proposed development dubbed “Kuantan Waterfront Resort City”
The mixed development sits on an 87-acre plot located about 10km from the Kuala Lumpur City Centre.
It posted a net property income of RM96.07 million for the quarter, compared with RM89.94 million previously.
“Because it is located on top of [the mall], we want to rent it out as a REIT-able product before putting it out in the retail market,” said the managing director of the group’s property development division Sarena Cheah.
Mitrajaya said they will negotiate with the relevant parties “to ensure that a fair compensation is received”.
EcoWorld Development Bhd’s shareholders today approved the provision of financial assistance by the Employers Provident Fund (EPF) to the group’s subsidiary, Paragon Pinnacle Sdn Bhd.
Amcorp Properties Bhd (AmProp) is planning to venture into the Hong Kong property market via a tie-up with Grosvenor Asia Pacific Ltd.
The Park Collection will have a total of 119 apartments, offering a mixture of studio apartments and one-, two- and three-bedroom apartments alongside two-, three- and four-bedroom Park Walk Townhouses, and is due for completion in the summer of 2019.