KUALA LUMPUR: O&C Resources Bhd, via its 90 per cent-owned O&C Properties (Kuantan) Sdn Bhd, has signed a joint venture agreement with Yayasan Pahang to undertake a RM166 million mixed development project in Pahang.
The project will consist of a commercial development and an affordable housing scheme known as PRIYA Scheme and will be undertaken on a 50:50 joint venture.
Works are expect to begin in the first half of financial year 2018, O&C Resources managing director Billy Ong Kah Hoe said.
Ong is hoping to have further collaborations with Yayasan Pahang. “We believe the success of the agreement stems from a relentless focus on innovation, creativity, and execution.
“The delivery of this project not only provides us with access to the property market in Kuantan, but also further raises the visibility of our brand as we continue to build quality projects with unique features and facilities that will enrich lives and enhance lifestyles,” he said in a statement today.
“The construction and property development industry in Malaysia is seen to be consistently robust due to the investment preference of locals and even certain foreigners who prefer local real estate investments. We also believe the future development on the land will contribute positively to our financial earnings,” he added.