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“The developer hereby guarantees that the landowner’s entitlement shall be equivalent in value to the minimum sum of RM210 million only.

“We will not raise or change the maintenance cost, but we are proposing for the government to take over the management and carry out the maintenance for low-cost flats with no managements.

“Strata-based developments are becoming more common in urban or semi-urban areas such as Kuala Selangor.

“The land has an upside potential in terms of capital appreciation as it is strategically located in the Kulim area and is only 3km away from KHTP, a mega international industrial scheme that is expanding rapidly.

The Edge Malaysia-PEPS Value Creation Excellence Award recognises the property with market value that has appreciated the most during the period judged.

Altora has recorded an 85% take-up rate following its launch on Oct 15.

According to a Bloomberg report, purchases “may more than double”.

“We asked Rehda why many developers were not building affordable housing to meet demand and were informed that there were many factors beyond their control, such as the rising cost of building materials,” Selangor housing, urban wellbeing and entrepreneur development committee chairman Rodziah Ismail.

The REIT, which owns the Mid Valley Megamall and The Gardens Mall, declared a distribution per unit of 2.

Ireka said its wholly-owned subsidiary, Ireka Development Management Sdn Bhd), accepted a Letter of Award from WPPSB on Thursday (Nov 3) to jointly undertake the development of 131 units of double-storey terrace houses and 16 units of three-storey terrace houses on the 12.