UDA Holdings Berhad (UDA), which is developing Neu Pendington, its first integrated development project in Sarawak, plans to undertake more development projects in the state that will benefit local entrepreneurs.
Federal Entrepreneur Development and Cooperative Minister Datuk Ewon Benedick said that his ministry will look at the possibilities of creating new property projects under UDA, particularly in Sarawak's rural districts.
According to Bernama, he said that Neu Pendington was the beginning of the government agency's participation in providing business space and boosting efforts to encourage micro, small, and medium firms in Sarawak.
He said that deputy premier Datuk Amar Awang Tengah Ali Hasan had advised that UDA look at implementing development projects in other districts in Sarawak as well as providing business outlets for rural entrepreneurs.
"I would like to see UDA participate in the development of infrastructure for hawkers and small traders in rural areas and I am very confident that the plan can be implemented this year," he said after launching the UDA sales gallery.
According to Ewon, Neu Pendington, a joint venture between UDA and the Sarawak Economic Development Corporation (SEDC), is at the documentation stage of seeking approval for the development plaANCOMLBn.
The project, which is located in a high-traffic region near the Pending Heights industrial complex, is expected to be completed in two phases by 2026 and 2027, respectively, and to be fully operational by 2029.
The initial phase of construction is scheduled to begin next year.
Neu Pendington has a gross development value of RM496 million and consists of two apartment buildings, stratified office store units, and a hotel tower.
Ewon believed that this development will encourage Sarawakians to invest in real estate and start businesses.
"I think that with this project, UDA will begin to develop real estate for the development of commercial space for our businesses in Sarawak," he said.
UDA has been successful in changing and modernising cities in Peninsular Malaysia, including Kuala Lumpur, Selangor, Johor, and Penang, over the last five years.