Zecon Bhd is set to invest RM250 million to develop Koperasi Universiti Teknologi Malaysia Bhd’s commercial centre along the Skudai-Pontian highway and next to Taman Desa Skudai.
According to Deputy Managing Director Zainurin Ahmad, the project is expected to be completed in five to 10 years.
As reported by Bernama, the 1.626 ha. development comprises a 373-room four-star hotel, 330 units of serviced apartments, commercial space and a park for 800 cars.
“We will submit all documents to the authorities, and we hope the project can begin this year,” he told reporters after the signing of a memorandum of agreement between KUTMB and Zecon Mutiara Sdn Bhd at UTM recently.
Zainurin added that the project, the Sarawak-based construction company’s first in Johor, will be financed via internally generated funds and bank loans.
Meanwhile, the company’s 687.9 ha. land bank in Sarawak has the potential to be developed in 15 years, he added.
UTM Deputy Vice Chancellor (Student Affairs & Alumni) Prof Dr Ismail Abd Aziz said KUTM’s profit would increase by more than two-fold with the implementation of the commercial centre project.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
