Apr 22, 2014 - PropertyGuru.com.my
LBS Bina group Bhd’s 60 per cent subsidiary, Koleksi sigma
Sdn Bhd, had entered into a joint development agreement with YPJ Multi
Ventures Sdn Bhd to develop four plots of land in Johor, according to
the Business Times.LBS Bina said they are all located in Pulai and will be developed into housing developments and a sewerage treatment set up, with an estimated total development value of RM587.6 million.
"A total of 2,311 units service apartments and 240 residential units under the Affordable Home Programme are going to be built in the areas and the whole development value of RM587.6 million was planned to be supported through a combination of internally generated fund and/or bank borrowings," the developer said.
However, the group added that the quantum, of which has yet to be determined, and also the manner of raising funds for the development, would possibly subsequently vary depending on the circumstances.
“The management is assured that the development are going to be well received in view of its strategic location and property prices that fall in the mid-range segment with costs between RM150,000 and RM600,000 a unit,” it said.
Predicted to start early next year, the development will enable the group to create fast turnaround and benefit both the purchasers and the company.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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