SHAH ALAM: The Selangor State Development Corporation (PKNS) today signed a Memorandum of Understanding (MoU) with Raudhah City Sdn Bhd to develop a city with Islamic characteristics in Selangor Science Park 2 (SSP2) in Cyberjaya.
PKNS general manager Azlan Md Alifiah said the Raudhah City project will potentially generate Gross Development Value (GDV) of RM12.3 billion on the back of RM9.3 billion of Gross Development Cost (GDC) within 15 years of its estimated development period.
He added the first phase of the city’s development will commence in mid 2016 and expected to be completed in five years.
“The first phase to be developed is the Early Education Cluster based on Islamic Montessori, which sits on a 158.89 acre land,” he said.
“This phase alone will generate GDV of RM2.8 billion through RM2.2 billion of GDC,” he said in his speech at the MoU signing ceremony at the Shah Alam Convention Centre here.
The MoU was signed between Azlan and Raudhah City Sdn Bhd executive chairman Datuk Seri Syed Zainal Abidin Syed Mohamed Tahir with Selangor Mentri Besar Mohamed Azmin Ali witnessing the ceremony.
Azlan said the development would emphasise on the 4S concept, which are Syariah Compliant City, Smart and Connected City, Safe City and Sustainable City.
“We envisage Raudhah City development to be the main catalyst towards the overall development in SSP2. A successful realisation of this concept would mean a double economic effect to Selangor and Malaysia as a whole,” he said.
Source : The Sun Daily
Posted on 25 January 2015 – 05:20pm