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Monday, January 17, 2011

SP Setia: New MoH complex design ready

KUALA LUMPUR: SP SETIA BHD has finalised the design and costing for the proposed development of a new integrated health and research complex for the Ministry of Health (MoH) in Setia Alam, Selangor.

The company said on Monday, Jan 17 that its associate Sentosa Jitra Sdn Bhd (SJSB) had finalised its design and costing for the new complex based on the MoH’s brief of requirements.

It added SJSB is now ready to commence negotiations with the Public Private Partnership Unit in the Prime Minister’s Department (Unit Kerjasama Awam Swasta) and the MoH “based on the proposal submitted to the government”.

SP Setia said a UKAS had issued a letter on Sept 24, 2010 informing it about the approval-in-principle granted by the government to SJSB to enter into negotiations with UKAS and the MoH over terms for the proposed complex to be located on approximately 55.33 acres of land at Setia Alam via a land swap for the government land measuring 40.22 acres along Jalan Bangsar, Kuala Lumpur (“Proposal”).

It said the government’s approval-in-principle to SJSB’s proposal, subject to terms and conditions to be agreed. It added SJSB has finalided its design and costing for the new complex.

SP Setia said the proposal would enables the MoH to reap the value of matured government land to obtain a fully integrated and modern new 1NIH Complex capable of housing all the relevant national health and research institutes and support functions in a single location within the vibrant, fast-growing and highly accessible township of Setia Alam.

“The MoH/government will also have the opportunity to participate in the redevelopment of the MOH Land through its share of 20% of the net profits from the development,” it said.

In terms of benefits, SP Setia said SJSB had started the master plan to redevelop the MoH Land.

“Its superb location provides a rare opportunity for S P Setia to further showcase its skills in developing luxury residential and integrated commercial products within the affluent Bangsar and Federal Hill areas,” it said.

By The EDGE Malaysia

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