BY M. HAFIDZ MAHPAR
KUALA LUMPUR: Trive Property Group Bhd’s unit Trive Property Sdn Bhd (TPSB) is poised to be appointed a turnkey contractor for a proposed affordable housing development project in Kuala Lumpur with a gross development value of RM1.1bil.
Trive told Bursa Malaysia that TPSB inked a memorandum of understanding (MoU) with Tenaga Meriah Sdn Bhd with the intention of acting as a turnkey contractor for the project jointly developed by Government-owned Syarikat Perumahan Negara Bhd and Tenaga Meriah.
The affordable housing development will comprise residential condominium/apartments towers (1,775 units) and a retail/commercial (50 units) central parking podium.
Trive said the parties had agreed to negotiate exclusively in good faith the detailed terms and conditions of the proposed appointment of TPSB as a turnkey contractor with the intention to enter into a definitive agreement for the award.
The proposed project is expected to begin within nine months of TPSB’s being appointed as the turnkey contractor and be completed within 60 months from the starting date.