Jentayu enters JV for RM78mil GDV condo project

TheStar Wed, May 18, 2022 08:37pm - 1 year View Original


KUALA LUMPUR: Jentayu Sustainables Bhd's wholly-owned subsidiary Ipmuda Properties Sdn Bhd is collaborating with Encorp Bhd's unit Encorp Development Sdn Bhd to develop a 10-storey condominium with an estimated gross development value of RM67.72mil.

In a statement, Jentayu said the proposed development located on a 1.6-acre leasehold land in Bukit Kepayan in Kota Kinabalu, Sabah, will comprise 78 units of type A and 88 units of type B condos with built-up areas of about 787 and 530 sq ft respectively.

Under the terms of the agreement, Ipmuda Properties will be entitled to 15% of the profits in the project while the remaining 85% will go to Encorp Development.

Development of the proposed project is expected to commence on July 1, 2022, and completed by June 30, 2026.

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