KUALA LUMPUR, May 31 (Bernama) — DBE Gurney Resources Bhd will jointly develop an affordable housing project in Perak with a gross development value (GDV) of RM100 million with Silver Homes Development Sdn Bhd, a company controlled by DBE Gurney’s major shareholders.
In a filing with Bursa Malaysia, the integrated poultry group said its wholly-owned subsidiary DBE Development Sdn Bhd today inked a conditional agreement with Silver Homes to undertake the project on 499 pieces of leasehold land measuring a total of 6.97 hectares in Perak’s Kinta District.
It said the development would comprise 268 single-storey terrace houses, 177 double-storey terrace houses and 37 double-storey shop houses.
DBE Gurney said two plots of land would be used for the construction of two units of electrical substations and 15 plots would either be sold as vacant lots or earmarked for future development.
It added that pursuant to the agreement, DBE Development would be entitled to 75 per cent of the net GDV of the development project while Silver Homes would be entitled to the remaining 25 per cent.