Permaju unit inks MoU to complete RM1bil GDV project
In a filing with Bursa Malaysia yesterday, Permaju executive director Yvonne Chai Woon Yun said the 44.28ha project is a mixed residential and commercial development that comprises shops, shop-offices, terraced houses, townhouses and a four-storey hypermarket.
KUALA LUMPUR: Permaju Industries Bhd 
subsidiary Hardie Development Sdn Bhd (HDSB) has inked a memorandum of understanding (MoU) with O&C Construction Sdn Bhd (OCCSB), to jointly complete the development of the Princess Heights project in Menggatal, Kota Kinabalu with a gross development value (GDV) of RM1 billion.
In a filing with Bursa Malaysia yesterday, Permaju executive director Yvonne Chai Woon Yun said the 44.28ha project is a mixed residential and commercial development that comprises shops, shop-offices, terraced houses, townhouses and a four-storey hypermarket.
“Upon completion of phase 1E of the project, which consists of the four-storey hypermarket, it will be leased to Mydin Mohamed Holdings Bhd for a period of 20 years, with the total collectable rental estimated at RM433mil,” she said.
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