PUTRAJAYA: Shapadu Boulevard Sdn Bhd, the property arm of Shapadu Group, will undertake a mixed development project known as Shapadu Putrajaya Haven with an estimated gross development value (GDV) of RM700mil.
The development, the first of its kind in Putrajaya, will comprise a shopping complex, the Shapadu headquarters, 150 units of luxury condominiums as well as five-star hotels, making the company the first to undertake a mixed property project along the 4.2 km-long Persiaran Perdana ring road.
Shapadu Corp managing director Shafiz Shahrani said the project would be on 2.3 acres adjacent to the Finance Ministry in Precinct 2. The land was purchased from Putrajaya Holdings Sdn Bhd for about RM40mil.
“At this time, we have to submit the development plans to the Perbadanan Putrajaya (PPj) as the local authority in Putrajaya, and if approved, Shapadu will start development early next year,” he said after the launch of the project here yesterday.
The project was inaugurated by former prime minister Tun Dr Mahathir Mohamad at a ceremony attended by PPj president Aseh Che Mat and Shapadu group executive director Datuk Rosthman Ibrahim. “The project is expected to be developed as early as next year and expected to be completed within three years.” - Bernama