SHAH ALAM, April 12 – The Selangor State Development Corporation (PKNS) has signed a 60-year land lease agreement with Lam Soon Edible Oil (M) Sdn Bhd (Lam Soon) to develop offices, warehouses and research and development centres in Selangor Cyber Valley in Sepang.
Lam Soon will pay about RM76.9 million to lease the land from PKNS.
PKNS General Manager Azlan Md Alifiah said construction, over 9.68 hectares, was scheduled to begin in the second quarter of the year.
“The building concept will be based on green development which will meet the standards of green building index.
“The company is in the process of submitting its development plan to the authorities,” he told a press conference after the signing of the lease agreement here Tuesday.
Azlan said the cooperation between PKNS and Lam Soon would create new job opportunities and stimulate the growth of the Selangor Cyber Valley.
The Selangor Cyber Valley, the 11th township to be developed by PKNS in Sepang, would have a gross development value of RM16.9 billion.
The smart, green and sustainable township would be sprawled over 526 hectares and the entire project is expected to be completed in 20 years.