KUALA LUMPUR: In the quest to build residential units priced below RM200,000, LPB Development Sdn Bhd and BDB Land Sdn Bhd (BLSB) have entered into a joint-venture (JV) cum shareholder’s agreement to develop an affordable housing township with gross development value of RM565mil on 93ha in Bandar Amanjaya, Sungai Petani, Kedah.
LPB Development is a wholly-owned subsidiary of Lagenda Properties Bhd’s (LPB) and BDB Land is a wholly-owned subsidiary of Bina Darulaman Bhd.
A JV company, BDB Lagenda Sdn Bhd with each party having a 50% stake, was set up yesterday.
Situated next to the North-South Expressway with an estimated population of 200,000, the affordable freehold housing development project is known as Darulaman Putra, consisting of single-storey terrace houses with elements of commercial development to be built in phases.
Lagenda Properties managing director Datuk Jimmy Doh said the JV is the starting point to building affordable houses for the underserved B40 community in Kedah and beyond. — Bernama