KUALA LUMPUR: Propel Global Bhd
has broken ground on its Riverpoint commercial development in Kuantan, a project with an estimated gross development value of RM64mil, marking the group’s first foray into commercial property development.
In a statement, the oil and gas services provider said the project, undertaken by its wholly-owned subsidiary Propel Global Development Sdn Bhd, is part of its diversification strategy beyond its core oil and gas and engineering businesses.
Located adjacent to the iconic “Welcome to Kuantan” arch, Riverpoint will comprise 31 units of three-storey freehold shoplots with built-up areas starting from 4,202 sq ft.
Propel Global said the development is positioned along a key gateway corridor into Kuantan and is expected to benefit from infrastructure projects such as the East Coast Rail Link and the continued expansion of Kuantan Port.
