Zecon to develop RM11bil project in Kuching

from left) Zecon Bhd corporate finance and accounts vice president Jamil Jamaludin and chief executive Syed Muzakir Al Joofre speaking to the media during the briefing.

KUALA LUMPUR: Zecon Bhd plans to undertake a mixed property development project in Kota Petra, Kuching, Sarawak, with a total gross development value (GDV) of RM11bil.

Chief executive officer Syed Muzakir Al Joofre said the Kota Petra project would be the group’s largest property development.

“The project comprises multiple clusters, including proposed state and federal new administrative centres, tourism enclave, education city, resort destination, integrated affordable homes and a medical city,” he told reporters after an investors’ briefing on its financial year 2017 full-year results on Thursday.

The state planning authority has approved the 1,203ha Kota Petra project, he said.

Syed Muzakir said the 49.4ha 1Malaysia People’s Housing (PR1MA) project, with a contract sum of RM286.9mil, would have 1,065 units of residential houses.

He said the proposed 105.6ha 1Malaysia Civil Servants Housing (PPA1M) project, with a contract sum of RM839.6mil, would have 2,332 units.

As at June 30, 2017, Zecon Group’s outstanding order book stood at RM3.6bil. - Bernama