KUALA LUMPUR: OCR Group Bhd targets to launch its largest property development in Shah Alam with a gross development value (GDV) of at least RM750mil by end-2021.
In a statement, the group said the 26.9-acre project will consist of 2,892 affordable housing units along with retail spaces.
The project is expected to be completed by 2026.
Managing director Billy Ong Kah Hoe (pic) said the project would showcase its expanded capabilities and increasing prowess in the property development scene.
“This single-largest undertaking denotes the huge potential we see in Shah Alam as it has a unique blend of old-school charm and thriving modernity in the commercial, financial and recreational aspects.
“There is still much room for Shah Alam to grow with its large population continuing to expand. Hence we are confident that this project would enjoy a strong take-up rate,” he said.
According to OCR Group, the development is in the self-sustaining city of Shah Alam which has seen its population rapidly growing to over 650,000.
Ong said the Shah Alam project, under its “Essential Living” series, will be sold at attractive prices and caters to the existing population and new joiners to Shah Alam.
The development is a 25-minute drive from the Kuala Lumpur City Centre.
“Coupled with our upcoming RM105.90mil GDV project along Jalan Alor in the Kuala Lumpur City Centre, OCR’s future launches in the next two years are boosted to RM1.6bil,” he said.
OCR Group also aims to launch its urban living project along Jalan Alor in 2022.
The 0.33-acre development comprises a 10-storey small office home office (SOHO) development comprising 120 units of SOHO and eight retail lots, and is slated for completion in 2025.