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BUSINESS

Majuperak embarks on maiden development outside Perak with Nexus Residences

16/08/2022 03:01 PM

SHAH ALAM, Aug 16 (Bernama) -- Majuperak Holdings Bhd (MHB) has marked a significant milestone with its first property development project outside Perak, Nexus Residences, with a total gross development value of RM121.68 million. 

Its group chief executive officer, Nizran Noordin, said the residential property would be built by its subsidiary, Nexusbase Development Sdn Bhd, on a 0.89-hectare land located in Section 27, here, and targeted for completion in 2026. 

“The project site is uniquely located in one of last few plots available in the high density USJ Subang West vicinity, hence this investment opportunity is one not to be missed,” he said at the groundbreaking ceremony of Nexus Residences here, today. 

He said the freehold, low-density residential development, comprising 153 units ranging from 1,309 sq ft to 5,511 sq ft and priced from RM803,400, is equipped with a dual key concept suitable for both flexible occupancies and investment while ensuring the utmost security.

Meanwhile, executive chairman Datuk Redza Rafiq Abdul Razak said MHB’s foray into the Klang Valley reflected the vast potential that awaits the company which would strategically expand its foothold in the property sector. 

“In April, MHB acquired a 51 per cent equity interest in Nexusbase Development to further strenghten its property business and set the tone for more property launches in the short and medium term,” he said. 

MHB has more than 1,200 hectares in Perak and the company is in the midst of planning to develop a new township in the state that will keep it busy for the next ten years, Redza Rafiq said without elaborating. 

-- BERNAMA


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