SEREMBAN (May 2): Matrix Concepts (Southern) Sdn Bhd, a subsidiary of Matrix Concepts Holdings Bhd (Matrix Concepts), has signed a joint-venture agreement (JVA) with Koperasi Kemajuan Tanah Negeri Johor Bhd (Kopketa) to develop Bandar Seri Impian 2 in Kluang, Johor.

Matrix Concepts group executive deputy chairman Lee Tian Hock said the 125.25 hectare development would comprise 3,300 residential and commercial units with a gross development value of RM1.2 billion.

“The development of Bandar Seri Impian 2 is a continuation of the 364.22 ha Bandar Seri Impian 1, which has been in development since 2005.

“Apart from constructing housing units through the development of Bandar Seri Impian 2, which is expected to take seven years, Matrix Concepts is also giving more emphasis to commercial components and recreational activities.

“We hope to develop a shopping mall, fitness centre, an institution of higher learning and mosque for the convenience of Bandar Seri Impian’s residents and also neighbouring areas,” he told reporters after the signing ceremony here today.

The JVA was signed by Matrix Concept group managing director Ho Kong Soon and chief executive officer, property development, Leong Jee Van with Kopketa chairman Arifin Ismail, secretary Zainudin Mohamed and treasurer Major (retired) Zainal Abidin Ali.

Lee said Bandar Seri Impian 1 was 90 percent developed and close to 5,000 residential and commercial units have been completed and handed over to buyers.

“At the same time, more than 700 units are in various stages of completion and another 1,000 units will be built in the next two to three years,” he added.

Meanwhile, Arifin Ismail said Kopketa is very committed to developing Bandar Seri Impian as a suburban area for Kluang.

“With a population of more than 30,000 residents, Bandar Seri Impian can become a strategic area to provide harmonious living, as well stimulate the area’s economic development,” he added.