PETALING JAYA: Damansara Realty Bhd is partnering state investment arm Menteri Besar Negri Sembilan (Incorporation) (MBNSI) to develop a RM771 million mixed development project in Seri Sendayan, Negri Sembilan.
The project will comprise shop lots, commercial podiums and residential units on 50 acres of commercial land, to be developed over 10 years. Phase 1 will begin in January 2020 upon finalisation of a joint development agreement with MBNSI, with completion targeted in 2022.
“We are very pleased to have MBNSI as our partner, on our first project in Negri Sembilan. Backed by our strong expertise in residential and township development and hospital planning, we’re confident that our combined strengths with MBNSI will deliver added advantages and growth to the state’s economy,” Damansara Realty group managing director Brian Iskandar Zulkarim said in a statement today.
The 50-acre parcel owned by MBNSI is located near the key growth areas of Seremban, Seremban 2, Sepang and Nilai, within drive range to Kuala Lumpur International Airport and klia2.
It is strategically connected to the North-South Expressway and the upcoming Maju Expressway 2 Project which is expected to be completed in 2020.