PETALING JAYA: Varia Bhd
has entered into a collaboration agreement with Seri Alam Properties Sdn Bhd to jointly develop a medium-cost residential project in Bandar Seri Alam, Johor Baru.
In an agreement signed yesterday, Varia’s indirect wholly owned subsidiary, Varia Southrise Sdn Bhd, will undertake the development of a 43,810 sq m freehold parcel in Plentong.
The project will comprise two apartment blocks of 20 and 21 storeys, offering a total of 645 medium-cost stratified residential units together with supporting facilities.
The proposed development has an estimated gross development value of about RM250mil. Development and building plan approvals have already been obtained, while the project is targeted for launch this year, subject to the approval of the advertising permit and developer’s licence or APDL and other regulatory requirements.
