KUALA TERENGGANU, Aug 28 (Bernama) -- Konsortium Perumahan Rakyat
Terengganu Sdn Bhd, a state-owned subsidiary, will invest RM15 million in the
property sector this year, says general manager Azizul Hashim.
He said the investment was to buy strategically located land to be developed
for commercial projets especially land around the state capital.
"We''ll also work with private landowners and state agencies like the
Terengganu Islamic and Malay Customs Council (MAIDAM) to develop their land.
"Our core business is developing land for housing schemes," he told
reporters after handing RM74,000 zakat (tithe) to MAIDAM president Datuk Mazlan
Hashim here today.
Azizul said the consortium builds affordable houses for the state government
besides commercial projects.
This year, the consortium would implement five projects, two of which are in
Kemaman and one each in Besut, Kuala Terengganu and Marang, he said.
"The ongoing project in Kemaman comprises 466 units of affordable houses at
Kampung Cengal Kemasik and 90 per cent of the project has been completed.
"The project is expected to be handed to the state government before
year-end," he said.
Azizul said the two room and one bathroom housing project costing RM36
million is being developed on a 19ha site and another 30 units of double-storey
terrace houses are being built in Bukit Kuang, also in Kemaman.
The consortium was building three blocks of shophouses in Pekan Jabi, he
said, adding that it planned to develop a housing project in Bukit Kluang as the
project site was just approved by the Besut Land Office.
In Kelulut, Marang, 50 units of commercial and affordable houses are under
construction while 70 unita of affordable houses are being built in Banggol
Peradong Manir in Kuala Terengganu.
Azizul said the consortium had invested RM160 million in the property sector
since its inception in 1995.
The consortium, however, is expected to make a lower profit of RM1.7 million
this year from RM1.8 million last year, he added.
IB NSM TOM