PETALING JAYA: Epicon Bhd
will be partnering NCT Alliance Bhd to jointly develop 876 units of single-storey terrace houses on a 72.14-acre freehold parcel in Batang Kali, Selangor, with a gross development value of RM347.7mil.
In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary, Epicon Land Sdn Bhd had entered into a conditional joint development agreement with NCT Noble Sdn Bhd, itself a full subsidiary of NCT Alliance.
The project is expected to commence in the fourth quarter of 2026 (4Q26) and be completed by 4Q29.
The estimated gross development cost and gross development profit of the project is RM198.72mil and RM76.83mil respectively.
The project site is strategically located less than 5km from Batang Kali town centre and about 20km from Genting Highlands, providing connectivity to major commercial and leisure hubs.
The surrounding established and emerging townships include Bandar Country Homes, Emerald Rawang, Bandar Bukit Beruntung, Saujana Rawang, and Tamansari @ Rawang.
The market value of the land is RM74mil as appraised by Knight Frank Malaysia Sdn Bhd.
The project is expected to contribute progressively to Epicon’s future earnings once development commences in 4Q26.
For this project, Epicon’s initial commitment is modest at about RM6.6mil – covering a RM100,000 deposit upon signing and RM6.5mil within 14 days of the joint development agreement becoming unconditional – while the subsequent payments of RM65.5mil shall be paid progressively over the development period after the obtainment of the advertising permit and developer’s licence for the project.
Moreover, Epicon also proposed a diversification of its existing core business to include property development activities.
The group said the diversification represents a natural progression for Epicon.
The company added this marks a pivotal milestone as it channels its proven construction expertise into property development. Its joint development project with NCT Alliance represents Epicon’s maiden property project.
Moving forward, Epicon expects the property business to contribute 25% or more of its net profits and a diversion of more than 25% of its net assets.
Epicon group chief executive Clement Toh said, “Our first property development venture aims to expand our revenue base and align our construction and property capabilities. It positions Epicon for sustained growth and stronger returns to shareholders, and we are ready to pursue further opportunities in this sector.”
