YAYASAN PAHANG, O&C INK RM166M DEAL
Mixed development set to start in first half of next year
O&C RESOURCES Bhd, via its 90 per centowned O&C Properties (Kuantan) Sdn Bhd, has signed a joint-venture agreement with Yayasan Pahang to undertake a RM166 million mixed-development project in Pahang.
The project would consist of a commercial development and an affordable housing scheme known as the PRIYA Scheme. It will be undertaken on a 50:50 joint venture.
Works were expected to begin in the first half of next year, said O&R managing director Billy Ong Kah Hoe.
Ong is hoping for more collaborations with Yayasan Pahang.
“We believe the success of the agreement stems from a relentless focus on innovation, creativity, and execution.
“The delivery of this project not only provides us with access to the property market in Kuantan, but also raises the visibility of our brand as we continue to build quality projects with unique features, and facilities that will enrich lives and enhance lifestyles,” he said.
“The construction and property development industry in Malaysia is seen to be consistently robust due to the investment preference of locals and certain foreigners who prefer local real estate investments.
“We also believe the future development on the land will contribute positively to our financial earnings,” he added.
Yayasan Pahang general manager Datuk Mahmud Mohd Nawawi (second from left) with O&C Resources Bhd managing director Billy Ong Kah Hoe (second from right) at the PRIYA Scheme signing ceremony yesterday.