NEW STRAITS TIMES. 27TH OCTOBER: Jiankun International Bhd’s (JKI) joint development agreement signed with NTL International Holdings (M) Sdn Bhd will positively boost the affordable housing supply, particularly in Semenyih, Selangor.
In welcoming the deal, JKI’s independent non-executive chairman Tan Sri Mohamed Apandi Ali said the supply and demand mismatch in the housing market is one of the key housing issues that must be resolved in Malaysia.
“We are confident that this property development project will help to boost the affordable housing supplies in the country as we ensure that the development also caters for the affordable housing demands,” he said in a statement today.
NTL International is the landowner of the freehold land targeted for the RM215.1 million gross development value (GDV) project in Semenyih.
In February this year, Bank Negara Malaysia (BNM) highlighted the need to look into housing issues, including dealing with the acute supply and demand mismatch in the housing market and improving the transparency of home prices.
“I am confident that the joint development project will provide a win-win situation for both Jiankun and NTL International.
“In the longer term, the development project’s positive spill-over effect will help drive values for the community in the surrounding areas, the property buyers and investors.
“The project’s successful development will also strengthen our position as an innovative construction and property developer that leverages strategic collaborations with partners such as NTL International,” Apandi Ali said.