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Saturday, August 22, 2009

Metro Kajang to partner PKNS for RM500m development in Selangor

PROPERTY developer Metro Kajang Holdings Bhd will partner Selangor State Development Corp (PKNS) to develop an integrated project on a 2.4ha leasehold land in the city centre in Kajang, Selangor, for RM500 million.

Group senior general manager Chong Yong Han said the project, dubbed "Kajang Walk", will feature a three-star 300-room city hotel, a retail mall and offices.

Chong said the properties will have a gross built-up area of 1.5 million sq ft and both Metro Kajang and PKNS will jointly promote them to investors in Asia-Pacific, including Malaysia.

"This is our first venture with PKNS and we hope to work together on other potential developments," he said at a signing ceremony in Shah Alam, Selangor, yesterday.
The event saw Metro Kajang college operator Andaman Group and Q-Cell, a Germany-based solar-cell manufacturer inking agreements with PKNS to develop land at the latter's 400ha Selangor Science Park 2 (SSP2) integrated project in Cyberjaya.

PKNS general manager Othman Omar said he believes that the synergistic relationship between PKNS and Metro Kajang will benefit both parties.

By Business Times (by Sharen Kaur)

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