The land, it said, "can serve as an enlarged hub" for the Malaysian Research Accelerator for Technology & Innovation (MRANTI) Park, which is located 1.
Going forward, MRCB said its property development and investment division remains focused on enhancing cash flow by monetising unsold completed stocks in Malaysia, as well as achieving its earmarked RM2.
The group on Friday inked an agreement with Ipoh Sentral Sdn Bhd (ISSB), following the memorandum of agreement signed between the parties in January, according to a bourse filing.
MRCB said the project was awarded to its wholly owned subsidiary, Lembaran Prospek Sdn Bhd, and will span a development period of 48 months.
“This initiative will not only accelerate Cyberjaya’s transformation into a world-class tech and innovation ecosystem but also solidify Malaysia’s position as a key player in the global digital economy.
At the same time, MRCB is buying seven parcels of land in Cyberjaya and Dengkil from Cyberview for RM287.
The scope of work includes the construction of five reinstated stations along the LRT3 line, the construction of two electric vehicle bus depots in Shah Alam and Johan Setia, the supply of light rail vehicles as well as construction-related infrastructure and system works.
The transit-oriented development project will add 19% to MRCB’s total remaining gross development value (GDV), for it to reach RM38.
The development will include affordable housing, hotel, commercial, green spaces, and educational institutions.
In a filing, MRCB said the group issued a notice of termination to consortium partner Berjaya Rail Sdn Bhd to terminate the teaming agreement for the submission of a non-binding conceptual proposal to MyHSR Corporation Sdn Bhd in relation to the project.
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