UDA to launch RM2bil commercial and residential projects in Penang


UDA Holdings Bhd (UDA) plans to launch three projects in Penang this year with a gross development value (GDV) of near to RM2bil.

According to Group chief operating officer for property development, Datuk Mohamed Marzuk Basir, the projects were an integrated commercial and residential development with a GDV of RM1.2bil, lifestyle project in Bertam worth RM600mil as well as two squares of apartments, on wakaf land, with a GDV of RM23mil.

“Shop offices under the Arcaria series would be launched one month from now with offering costs of in the middle of RM800,000 and RM1.6 million including 114 units,” he told The Star recently.

Mohamed Marzuk said UDA would likewise launch a 300 unit apartment project, evaluated in the middle of RM390,000 and RM450,000 per unit.

He said there was interest for the Arcaria project; then again, potential purchasers confronted trouble in securing loans as a consequence of tight loaning policies by Bank Negara.

He said UDA was working with a few banks by showing them the value of the project, and in addition, offering packages with furniture or electrical things to draw in purchasers.

Meanwhile, a gated and protected lifestyle project would be launched in Bertam, worth RM600mil, comprising of double and three-story bungalows.

The 68-unit apartment project on wakaf land would be a joint effort with the Penang State Religious Council and would be launched a month from now.

Other than Penang, Mohamed Marzuk said UDA additionally wanted to launch shop offices and serviced apartment, a project as a team with Perak State Religious Council in Ipoh, Perak, right on time one year from now with a GDV of RM32mil.

He added that UDA would also accomplice the Perlis State Economic Development Corp this year to add an integrated project in Kangar comprising of a 12-story office building, shopping center and shop offices with a GDV of RM106mil.

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