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Thursday, June 25, 2009

Asas Dunia lines up new projects

PENANG-BASED property developer Asas Dunia Bhd (ADB) is looking at implementing eight new projects in mainland Penang over the next four years.

Its managing director Datuk Jerry Chan Fook Sing said 1,177 units of dwellings ranging from affordable housing to high-end homes will be scattered on different sites totalling 48ha.

"We are looking at embarking on the new jobs this year and the proposed properties carry a value of RM203 million," he told reporters after ADB's annual shareholders' meeting in Penang yesterday.

The company currently has ongoing projects worth RM56 million and boasts an unutilised landbank of 571ha.

Chan said ADB's bullishness on embarking on the new projects was spurred by not only the new investments which were being ploughed into Penang, but the tangible progress made in the construction of the Penang Second Bridge.

Penang's second link will connect Batu Maung on the island with Batu Kawan on the mainland.

The project is pivotal to ADB's new developments, which are being planned in areas like Nibong Tebal, Sungai Bakap, Bukit Minyak and Bukit Mertajam.

"The new investments into Penang will see the creation of new jobs and since people follow jobs, they will be looking for housing," Chan said.

He said since industrial land is running scarce on Penang island, the mainland is set to be the centre for future industrial development and ADB intends to leverage on this.

"Following a site visit to Batu Kawan yesterday where UEM Construction Sdn Bhd has a yard, I am pleased to see that the company is going full-steam ahead with the jetty construction for the piling works.

"A lot of construction materials have also been brought to the site and this sends out positive signals that we can expect more growth to be spurred on the mainland," Chan added.

The 24km Penang Second Bridge will link Penang island and Seberang Prai. Upon completion by 2011, the bridge, which will comprise 294 piers and 9,364 sections, is set to be the longest in Southeast Asia.

UEM Construction Sdn Bhd - a subsidiary of UEM Builders Bhd - has named port builder and bridge construction firm China Harbour Engineering Co Ltd as its main contractor for the iconic bridge project.

By Business Times (by Marina Emmanuel)

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