IPOH: Green Venture Capital (GVC), a subsidiary of Wawasan Qi Properties Group, today signed a Memorandum of Agreement with China Energy Hua Ren Industrial Investment Co Ltd (CEHR) to help facilitate the China-based entity to lead the construction of a RM1.1 billion integrated edu-city project here.
The construction for the Qi City Development Project on a 10.5-hectare site in Bandar Meru Raya here is expected to start in the first quarter of next year and will complete in three years.
It comprises a teaching hospital with public and private wings, Quest International University Perak (Qiup) campus, three condominium blocks, a medical rehabilitation centre and hotel suites.
GVC executive chairman Datuk Seri Vijay Eswaran said that the international collaboration would help them achieve the vision to create the first education and medical hub in the country.
“CEHR's entry into Qi City project is significant as it is a testament to the strength and potential of this uniquely modeled development,” he said in his speech at the signing ceremony here today.
GVC was represented by Vijay and its chief executive officer S. Chandragesan while CEHR was represented by its chairman Wang Wei.
GVC also signed another MOA with Qiup, which was represented by its chief operating officer Nicholas Goh.
Also present was Menteri Besar Datuk Seri Dr Zambry Abd Kadir
Vijay said the partnership with the Chinese company would enable them to exchange skills and technology.