An estimated 80,000 jobs are expected to be created by the project. 

"We are aware of oversupply issue (office space) in the market, but [the] majority of our assets [are] located at desirable locations,..."

Average number of bedrooms also dropped by almost half. 

"If we want a particular region to develop we must link the region to all areas in the country."

The group has successfully secured total contracts worth RM297.6 million.

YFG said the project is expected to commence on May 8.

Yong Tai said the sukuk programme shall have a tenure of 20 years.

Versatile noted that there is no financial impact on the group.

Buying the remaining 49.99% stake in property development firm Innoceria Sdn Bhd (ISB) for RM21.9 million in cash.

“The development consists of at least 15 residential two-storey townhouses along Merri Creek in Northcote.”