OCR Group inks JV agreement for residential development in Rawang
OCR said that under the joint-venture (JV) agreement, the landowner, Lecca Properties (M) Sdn Bhd, stands to gain RM45 million for partnering with the developer.
OCR said that under the joint-venture (JV) agreement, the landowner, Lecca Properties (M) Sdn Bhd, stands to gain RM45 million for partnering with the developer.
M Azura will be accessible via Jalan Genting Kelang, the Middle Ring Road 2, Duke Expressway and Jalan Tun Razak.
Chin Hin is to develop a 2,434-unit serviced apartment on the plot, which it estimated will cost about RM575 million.
Currently, the stock is not covered by any analysts.
eolane chose Kulim Hi-Tech Park in Kedah because “the state has the right infrastructure, talent, and capabilities to meet the demands of the manufacturing industry,” said chief executive officer Olivier Clement.
The job scope involves the development of two blocks of serviced apartments, one podium block comprising parking lots and facilities, as well as a guard house in Tropicana Metropark, Country Heights.
The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.
The value of the latest contract is higher than Haily’s market value of RM93.
The builder-cum-property developer said the EPU had on Monday rejected its proposed acquisition as it did not meet the 30% Bumiputera equity ownership requirement.
Phase 1 of Sunway Velocity 3 comprises two serviced residence blocks with built-ups from 721 to 1,076 sq ft.