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News MM2H in News US-Based Firm To Set Up US$300 Million Facility In Enstek
News MM2H in News US-Based Firm To Set Up US$300 Million Facility In Enstek
| US-Based Firm To Set Up US$300 Million Facility In Enstek |
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| Saturday, 12 December 2009 09:22 | |||
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SEPANG, Dec 12 (Bernama) -- A US-based company has set its sight to build a US$300 million facility in Enstek, TH Properties Sdn Bhd's chief executive officer Zaharuddin Saidon said Saturday. TH Properties, the property arm of Lembaga Tabung Haji, is the developer of the Enstek integrated township and the facility will be located in its TechPark. TechPark@enstek is an industrial and technological hub, covering an area of 524 acres with the largest cluster of local and international biotechnology and life sciences companies in Malaysia. Both parties are expected to sign a memorandum of understanding (MoU) before end of this year, Zaharuddin told Bernama here. The township, of which 35 acres have already been completed, is estimated to generate RM9.2 billion gross development value (GDV) when completed in 2025, he said. Based on the strong interest from local and overseas, Zaharuddin said the township's GDV is expected to exceed the target. He said a firm from Bangalore, India, also planned to a develop residential project on 200 acres of land in Enstek for the Malaysia My Second Home programme. TH Properties, he added, was also in talks with a few hypermarket operators who have plans to set up operations within the township. On another development, Zaharuddin said the first phase of Kuala Lumpur Education City (KLEC) located in EduPark@enstek is expected to be completed within the next three and four years. KLEC, a share-education centre located on 1,500 acres of land, will house a few local and international universities, including Universiti Sains Malaysia and University of London. "When the first phase is completed in three to four years, then retail will come in. We have discussed with a franchise company the possibility of setting up a retail centre to meet the needs of students," he said. He added that once the first phase of KLEC is completed, about 20,000 students are expected to use the facility. -- BERNAMA Add this page to your favorite Social Bookmarking websites
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