Preview News : Kedah Government, Firms Sign MoUs To Undertake Projects With GDV Of RM1.2 Billion
KUALA LUMPUR, December 7 — The Kedah State Government has signed memorandum of understandings with Property Builder KK Sdn Bhd and PKB Development Sdn Bhd to undertake an eight-phase project, called Aman Laut.
The housing-cum-commercial project, with a gross development value of RM1.2 billion, will be developed on 49 hectares of reclaimed land along the coast of Kuala Kedah.
The MoU were signed by Kedah State Secretary, Datuk Bakar Din, Executive Chairman of Property Builder, Datuk Iskandar Dzulkarnain Abdul Khalid, and Chairman of PKB Development, Datuk Ismail Hamid.
Kedah Menteri Besar Datuk Ahmad Bashah witnessed the signing ceremony.
The project is expected to be completed in the next 10 years with the Phase 1 and Phase 1A development to start in March next year and completed in 2020.
Ahmad Bashah said the projects, which were expected to meet the housing demand in Kedah, would also be launched in other areas.
“I hope the Aman Laut project will be a catalyst for more housing and commercial projects in Kedah and be an example for other developers,” he said at a press conference after the signing conference.
In phase one, six blocks of 25-storey condominiums with 730 units, 92 units of one-storey shops and 84 units of double-storey shops will be developed.
Phase 1A will involve the construction of five 23-storey medium-high cost apartment blocks comprising 985 units, a 20-storey of medium-low cost apartments (358 units) and two blocks of low- cost apartments (358 units).
The selling price of a condominium unit in phase one starts from RM180,000 up to RM240,000 while the selling price of apartments in phase 1A will follow the state government’s policy of not exceeding RM200,000.
Meanwhile, Phase 2 will involve the building of luxurious bungalows, detached houses and condominiums.