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Saturday, September 8, 2012

Two major townships on UDA's drawing board

UDA HOLDINGS Bhd is in discussion to develop two major townships in two separate states, over the the next 10 years.

As the land is state land, it is currently in negotiations with the two state governments on the multi-billion ringgit joint-venture projects and is confident to be able to strike the deals by year-end.

However, he declined to reveal the two states which have been chosen for the development projects.

The company chairman Datuk Nur Jazlan Mohamed said the ideal development in each township is between 200 ha and 400 ha.

"What I could tell at this juncture is that the townships will be located outside the Klang Valley, as the land in Klang Valley, which is as high as RM100 million a hectare, is too expensive for us.

"We are positive about the development in the two townships after our success in developing Bandar Uda Utama in Johor Baru.

"We are in the final stages of concluding the discussions," he told reporters at his Hari Raya do in Johor Baru yesterday.

Currently, Uda Holdings has 18 ha of land in Sepang, Selangor, which has been earmarked for the development of 1Malaysia Housing Programme (PRIMA).

In Johor, its current landbank is 120ha, which is at Bandar Uda Utama. Nur Jazlan said the joint venture for the two townships was crucial for Uda Holdings to sustain its operations.

He said the company is also pursuing more development opportunities by acquiring more land or having joint ventures with land owners.

It is learnt that one of the possible joint-venture partners of Uda Holdings is Johor Corp in view of the latter's huge landbank in Johor.

Last year, Uda Holdings signed a memorandum of understanding with Johor Corp's subsidiary, Johor Land Bhd, to develop a commercial development in Bandar Baru Tampoi in Johor Baru.

The company has also signed another memorandum of understanding with another Johor Corp subsidiary- Damansara Assets Sdn Bhd - to build apartments in the same township.

By Business Times

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