Entrepreneur Tan Sri Syed Yusof Tun Syed Nasir has entered into a joint venture with BT Bina Group to develop Valley Hill, a Rawang township spanning 155ha located between the residential area of Taman Pinggiran Pelangi and the Kri Rawang industrial estate.
Within this township will be 3,000 units of youth transit and affordable housing.
At a press conference attended by Housing and Local Government Minister Zuraida Kamarudin and BT Bina managing director Datuk David Tan, Syed Yusuf said he had been involved in property development for the past 30 years.
“My first venture was Pandan Cahaya, an abandoned low-cost housing project with each unit costing about RM20,000 then, ” he said.
For the Rawang township project, construction of transit homes will be the first phase to be built using prefabricated components.
Measuring from 37.16sq m for a studio unit to 83.61sq m for a three-bedroom and two-bathroom unit, the first 1,000 units are expected to be completed in 18 months.
The joint venture between BT Bina and Tisy Sdn Bhd where Syed Yusof is managing director, is due to start in the third quarter of the year.
Zuraida said the groundbreaking for the township had taken place last year but construction was delayed due to Covid-19.
“This project will benefit the B40 group and give the ministry a chance to test out the rent-to-own scheme where units will be rented out for five years. The time frame will allow this group to plan for bigger homes, ” she said.
Targetting first-time housebuyers, bachelors and young families, among the features in the township are centralised retail shops, kindergarten, surau and playground on the ground floor.
Additional proposals for centralised rubbish chutes to enable better waste management and play features such as a swimming pool have also been suggested.
To alleviate congestion, there will be wider roads and landscaping.
“The Covid-19 crisis has taught us many valuable lessons. One of them is to appreciate our dwelling place. As such, housing should not be less than 83.61sq m, especially for the B40 group which has big families, ” said Zuraida.
The joint venture was announced during a launch ceremony to recommence construction of a 33-storey small office home office tower, which will also consist of service apartment suites by BT Bina.
Scheduled for completion by March 2022, construction will be carried out by China Rail Construction Corporation.
The transit-oriented, freehold commercial development will have the Kerinchi Light Rail Transit station running through it.
Upon completion, the service suites will be managed by Grand Marris, a new hospitality product by BT Bina.
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