Friday, October 19, 2007

SP Setia inks RM190m deal with M’sian government

SP Setia inks RM190m deal with M’sian government

PETALING JAYA: SP Setia Bhd has inked a RM190.43 million deal with the government for the construction of the new Ministry of Home Affairs complex and quarters in Johor.

In a statement yesterday, SP Setia said the complex, proposed to be constructed within the central business district of its Setia Tropika Township, was expected to increase the value of the remaining undeveloped landbank within the 239ha township.

It said the project would also stimulate and accelerate the development timeline of the commercial hub.

It added that the contract was in line with its commitment to enhance the amenities and facilities of all its townships.

“The board envisages that the presence of the complex will significantly boost the vitality and traffic flow into the CBD, and is set to fast-track the development of the township located in the heart of the Iskandar Development Region,” SP Setia said.

Construction work for the complex is scheduled to be completed by Aug 5, 2010, it added.

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