KUALA LUMPUR: Jiankun International Bhd has been offered to be the main contractor for a RM90 million Menara Rezeki Sdn Bhd's (MRSB) development with Koperasi Perumahan Sentul Pasar Kuala Lumpur (KPSPKL).
Menarez Development Sdn Bhd (Menarez), a subsidiary of MRSB, submitted the conditional offer letter to Jiankun International Construction Sdn Bhd (JKIC) to undertake the property development.
Jiankun executive director and chief executive officer Edwin Silvester Das said this was a testimony of the company's capability in the construction and property development industry.
Das said while the offer was subject to the shareholders' approval, the management was positive about the potential of the project, where 80 per cent of the units consisted of Rumah Mampu Milik Wilayah Persekutuan (RUMAWIP).
"This is in line with the company's mission to improve people's lives and support the government's initiative to provide affordable housing for first-time buyers," he said.
The project is to develop a 29-floor modern apartment with 320 units along with seven shop units on the ground floor.
Jiankun obtained the offer letter after MRSB signed a joint venture agreement with KPSPKL that transferred the Power of Attorney to Menarez to develop the land owned by KPSPKL.
Under the agreement, KPSPKL will generate a total return of RM7.8 million.
The proposed name for the property development project is Rumpun Residency@Sentul, with an estimated cost of development amounting to RM90 million.