SHAH ALAM: Kumpulan Hartanah Selangor Bhd (KHSB) and Hong Kong-based Sun Lohas Group Ltd signed a memorandum of understanding (MOU) on the proposed eco-development concept of a 2,013ha land in Bestari Jaya, Kuala Selangor.
Chairman of KHSB Raja Idris Raja Kamarudin said the main concern of the MoU was to enable Sun Lohas to carry out a financial and legal due diligence as well as feasibility study on the proposed development known as Sun Lohas City.
He said the development would start in six months after considering factors such as immigration, labour and legislation. “Sun Lohas has proposed to us a unique concept to develop our land in Bestari Jaya. If the concept is workable and feasible, the proposed project would offer an opportunity for skill development in this state,” he said in a press conference after the MoU signing here yesterday.
Sun Lohas chairman Chen said the gross development value of the project was estimated at RM8bil.
By Bernama.
Friday, May 18, 2012
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