Anzo to build e-commerce hub along Federal Highway
KUALA LUMPUR: Anzo Holdings Bhd will build an e-commerce hub with four signature office towers and a car showroom centre in Petaling Jaya, Selangor, with a contract value of RM150 million.
Its wholly-owned unit Harvest Court Properties Sdn Bhd has entered into a collaboration agreement with Captivate Max Sdn Bhd (CMSB) to develop 1.16ha fronting the Federal Highway.
This confirms a news report by NST Business yesterday that Anzo was expected to ink an agreement soon to develop land along the Federal Highway.
In a filing with Bursa Malaysia yesterday, Anzo said Harvest Court would build the properties for CMSB, being the land owner.
The estimated gross development value for the whole project is RM420 million.
It is understood that the land is located near Avon Cosmetics and Hong Leong Assurance on Jalan 51a/219, which is also home to several car showroom centres.
Anzo said upon the execution of the agreement, Harvest Court would commence its due diligence in relation to the land.
Anzo managing director Datuk Eddie Chai, when contacted, said the project could take about three years.
He added that Harvest Court was targeting to start construction in the first half of next year.
According to Chai, the estimated gross floor area for the four towers combined would be 500,000 sq ft.
The net floor area is 350,000 sq ft.
“We are beefing up the construction business for Anzo. We see that the Malaysian construction market was improving and we would continue to bid for new jobs,” he said. Sharen Kaur
An artist’s impression of Anzo Holdings Bhd’s e-commerce hub. The company will build four signature office towers and a car showroom centre in Petaling Jaya.