PGF Capital plans RM3bil township in Tanjong Malim

PETALING JAYA: PGF Capital Bhd plans to develop a self-sustaining integrated township with an estimated gross development value (GDV) of RM3bil adjacent to the Automotive High-Tech Valley (AHTV) in Proton City, Tanjong Malim, Perak.

In a statement yesterday, the company said the strategic development with over 6,000 residential and commercial units would take place over 10 to 15 years on 161.87ha.PGF Capital said the comprehensive project also includes 99.27ha for agriculture plantations, 21.61ha for aquaculture activities, 119.58ha for eco-tourism, 23.55ha for an eco-retreat, and 29.02ha for lifestyle communities, including a retirement and wellness village.

“This comprehensive initiative reflects PGF Capital’s commitment to creating not just a township, but a harmonious and sustainable living environment,” it said.

PGF Capital said it was leveraging AHTV’s potential as China’s automotive powerhouse Zhejiang Geely Holding Group Co Ltd is investing RM46.8bil to develop the AHTV as Malaysia’s next-generation vehicle hub.Group chief executive officer Fong Wern Sheng said the master plan for the land includes a self-sufficient and vibrant community, integrating residential and commercial spaces with thoughtfully designed amenities and infrastructure.

“Geely has proposed the construction of a university, and we are delighted that the Perak state government is exploring suitable locations for such a facility. Our property development plan is currently undergoing review and awaiting approval from the Perak state government. We aim to launch our first phase in 2024,” he said

PGF Capital had signed a joint venture agreement with Malvest Properties Sdn Bhd, a property developer based in Penang, to jointly develop phase one with an estimated GDV of RM600mil. — Bernama