Mixed commercial and residential project seen to be worth RM2.5 billion

Malton Berhad’s (Malton) wholly owned subsidiary Pioneer Haven Sdn Bhd (PHSB), entered into a joint venture agreement with Bukit Jalil Development Sdn Bhd, a subsidiary of Ho Hup Construction Company Berhad, to develop 60 acres land in Bukit Jalil.

According to Malton’s Bursa Malaysia announcement, the project will comprised mixed commercial and residential development and its gross development value is estimated to be RM2.5 billion.

It said, “The proposed development will be carried out and completed in phases over 10 years from the approval date of the development order for master layout plan with automatic extension of five years subject to market supply and demand conditions provided that PHSB commences development within six months from the date of issuance of the development order for master plan and approval of building plan by the appropriate authorities.”