KUALA LUMPUR: Koperasi Peserta-Peserta Felcra Malaysia Bhd (KPFB) has inked a memorandum of understanding (MoU) with Siab Development Sdn Bhd to undertake a joint development with a gross development value (GDV) of RM389 million on lands in Gombak, Selangor owned by KPFB.
KPFB chairman Datuk Sabari Misran said the proposed land development measures about 7.9 hectares and the project will be fully completed in 2025.
"KPFB’s involvement in the real estate field with the signing of this agreement involves housing projects, namely KPFB PR1MA and KPFB Felcra Residency, which will be given priority sales to Felcra employees and the B40 group.
"This project is supported by Felcra Bhd and the Cooperative Commission of Malaysia (SKM), which encourages cooperatives to invest in real estate that is profitable and promises lucrative returns,” he said during KPFB’s Hari Raya Aidilfitri celebration and the MoU signing ceremony at the Setiawangsa Community Centre here, today.
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