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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.



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