News: PKNS, DKLS to collaborate for RM1.5b project
Selangor State Development Corporation (PKNS) had recently inked an agreement with DKLS Industries Bhd to redevelop a 6.4 ha land in Section 17, Petaling Jaya, according to a report by The Star.
Presently occupied by various blocks of old flats and a green reserve, the land will be redeveloped into a mixed-use project comprising residential, commercial and retail units with a gross development value (GDV) of RM1.5 billion.
Property consultants revealed that the area has been attracting lots of interest lately, since it is conveniently located near major projects, including a factory area, which is under a major redevelopment programme. The factory area is being transformed into a mixed residential and commercial hub, anchored on the Jaya One project.
Jaya One is presently in its last phase of development with a GDV of RM360 million, which comprises mainly of residential units, having already completed about RM600 million worth of commercial properties.
Aside from Jaya One's proposed serviced apartments, there are two other similar residential developments being planned for Section 13. These include the Pacific Star project, a residential-cum-commercial development being developed by Circle Development (M) Sdn Bhd, and Fraser & Neave's RM1.6-billion mixed development project on 13-acre site, with construction works slated to begin in September this year.
Image: The Star
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