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Tuesday, August 11, 2009

TH to launch RM50m shoplots at Bandar Enstek next month

TH PROPERTIES Sdn Bhd, the property arm of Lembaga Tabung Haji, will launch RM50 million worth of shoplots at its Bandar Enstek township in Nilai, Negeri Sembilan, next month.

Its chief executive officer Zaharuddin Saidon said this would be the first time it launches commercial units within the development.

Bandar Enstek is developed by TH-NSTC Sdn Bhd, a 70:30 joint venture between TH Properties and the Negeri Sembilan State Development Corp.

So far 30 per cent of the 2,046ha township has been developed with 1,200 units of single and double-storey terraced houses, bungalows and semi-detached houses built and occupied.

The whole development, comprising residential, industrial, commercial and institutional components will be completed by 2025 with an estimated gross development value of RM9.2 billion.

"Developments are moving on as scheduled. We feel it's time to add some shoplots to cater for the existing homes. We are positive on the take-up as there is a long wait list," Zaharuddin said.

Zaharuddin was speaking to Business Times in Kuala Lumpur yesterday, after inking an agreement with Hiraki Timur Sdn Bhd.

Hiraki is the operator of Kolej Teknologi Timur (KTT) and it plans to set-up a campus on 3.2ha in Bandar Enstek, for RM25 million to RM30 million.

The event was witnessed by Deputy Minister of Higher Education Datuk Saifuddin Abdullah.

Hiraki Timur will move its current main campus in Bandar Baru Salak Tinggi, Sepang to Bandar Enstek when the new facility is ready by early 2012.

Zaharuddin said TH-NSTC has, since 2002, received investments of over RM1 billion from the government and private sectors to set up universities and colleges.

The Education Ministry and Higher Education Ministry bought 400ha to set up nine colleges and institutions such as Tunku Kursiah College, Aminuddin Baki Institute, Maktab Perguruan Teknik and Pusat Latihan Bahasa Inggeris.

The properties are under construction and will be ready between 2012 and 2013.

Kuala Lumpur Education City Sdn Bhd, led by Tan Sri Dr Kamal Salleh, is planning Kuala Lumpur Education City, which will feature five foreign and two local universities on 200ha.

Cempaka Group of Schools is also setting up an international secondary boarding school for RM95 million.

"Our focus plan for the township is a knowledge-based development and we are heading there," Zaharuddin said.

By Business Times (by Sharen Kaur)

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