PETALING JAYA: Gabungan AQRS Bhd
has entered into a joint venture agreement with Rising Charm Sdn Bhd to jointly develop three parcels of land in Bangi, Selangor for a proposed commercial development.
In a filing with Bursa Malaysia, the construction and civil engineering services firm said the development will comprise residential, commercial and retail components with all other ancillary amenities, common facilities, utilities, and supporting infrastructures necessary.
Gabungan AQRS said the total gross development value of the project is estimated at RM600.47mil.
It said the project is targeted to be launched by the third quarter of calendar year 2027.
“The development is also expected to be funded via a combination of internally generated funds, sales of properties and/or bank borrowings.”
