MRCB to develop houses in Penang

By BUSINESS TIMES

MALAYSIAN Resources Corp Bhd (MRCB) has entered into a turnkey development contract with Pelaburan Hartanah Bumiputera Bhd to develop residential units ranging from high-end apartments and landed units to affordable housing on Penang Island, with an estimated gross development value of RM500 million. The developments will take place on a 47.8ha land in three sites – Pengkalan Weld, Gelugor and Teluk Kumbar. The development, which marks MRCB’s foray into Penang, will commence by year-end and take between five and seven years to complete.

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