KUALA LUMPUR: Ireka Corp Bhd
‘s unit Ireka Development (Terengganu) Sdn Bhd has accepted a RM468mil contract from the Terengganu state authorities to develop by way of privatisation reasonably priced and blended housing development in the Kemaman district of the state.
In a bourse submitting, Ireka stated its subsidiary will undertake the blended development and associated works on 200 acres of presidency land in Bandar Baru Kertih Jaya, Mukim Kertih in Kemaman.
In addition, it can undertake the hybrid development of 100 items of reasonably priced housing Type A and 6 items of single-storey shoplots and associated works on 11.55 acres of presidency Land in Kampung Semayor, Mukim Kemasik in Kemaman.
According to the submitting, the mission will contribute RM34.72mil in development funding to the state authorities.
Among the situations, Ireka Development will probably be required to promote a minimal of fifty% of the store lot items to Malaysia/Bumiputera and supply a 5% discount in the sale value to this group of consumers.
“The Board is of the opinion that the acceptance of the LOA and the next execution of the Project is predicted to contribute positively to the web property and earnings per share of Ireka and its group of firms for the monetary yr ending 30 March 2022 and onwards till the completion of the Project,” it stated.
