KUALA LUMPUR: MGB Bhd
’s indirect wholly-owned subsidiary, Prisma Kasturi Sdn Bhd has entered into two separate joint venture (JV) agreements to develop projects in Taman Bukit Serdang, Selangor with a gross development value (GDV) of RM861.35 million.
The first JV with Talam Transform Bhd entails a mixed development project spanning 6.68 hectares that includes commercial shop lots and affordable housing under the Rumah Selangorku scheme.
Meanwhile, Prisma Kasturi’s JV with Kandis Permai Sdn Bhd will see the development of residential units for Bumiputera on a 3.84-hectare Malay Reserved land.
In a statement today, group executive chairman Tan Sri Lim Hock San stated that MGB is moving closer to achieving its commitment to build up to 10,000 units of Rumah Selangorku.
MGB has a robust construction order book of RM1.19 billion and unbilled property development sales of RM693 million from ongoing projects as of Sept 30.
"With a total of 19 ongoing projects, we anticipate that these developments will generate an estimated future revenue of RM4.02 billion in the coming years,” Lim added. - Bernama
