Angkasa To Venture Into Real Estate Development To Build 500 Affordable Houses By 2016 May 08, 2014 KUALA LUMPUR: The Malaysian National Co-operative (Angkasa), in a move to get involved in high-impact activities, will venture into real estate development in September with the construction of 500 units of affordable houses in Alor Gajah, Melaka. The project with a Gross Development Value of RM5.8 million would be undertaken by the movements subsidiary, MyAngkasa Bina Sdn Bhd, under a joint venture with Koperasi Pembangunan Daerah Alor Gajah Melaka Bhd. Angkasa President Datuk Abdul Fattah Abdullah said under the pioneer project, 47 terrace houses starting from RM140,000 each, would be built specially for members by 2016. Our subsidiary, MyAngkasa Bina Sdn Bhd, will undertake the construction on a 1.6 hectare site in Alor Gajah, he said after the signing of a collaboration agreement between Angkasa and Koperasi Pembangunan Daerah Alor Gajah Melaka Bhd here yesterday. Abdul Fattah said five other cooperatives in the country with a total land bank of 90.2 hectares have approached Angkasa, the sole apex organisation for cooperatives in country, to build affordable houses in Selangor, Perak, Johor and Kelantan on a joint venture basis. He said cooperatives, which own land, should venture into property development to meet the big demand for affordable houses costing RM250,000 and below. There is 3,000 hectares of land owned by cooperatives in the country which can be jointly developed and financed by Angkasa. Once, cooperatives were very active in developing residential housing schemes such as Taman Kosas, Taman Shamelin and Taman Kobena, he said, adding their involvement in the sector now was minimal. -- BERNAMA
Posted on: Thu, 08 May 2014 02:21:45 +0000
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