GEORGE TOWN: Ideal United Bintang International Bhd (IUBIB) will develop RM828.6mil worth of property for the 1Malaysia People’s Housing or PR1MA programme in the fourth quarter.
Dubbed Penang’s “Property King”, group executive chairman Tan Sri Ooi Kee Liang told StarBiz that the project is located in the sought-after neighbourhood of Island Glades on the island.
“The scheme comprises 1,611 units of affordable and high-end homes.
“The affordable units of 850 sq ft are priced between RM300,000 and RM400,000 and will be sold to an approved list of buyers, whereas the high-end homes, priced below RM700,000, are targeted at the open market.
“Our building and layout plans for the project have been approved. The project is scheduled for completion in 2024, ” he said.
According to Ooi, the project will generate about RM400mil worth of construction and renovation jobs.
Projects undertaken by IUBIB started work about two weeks ago with approval from the International Trade and Industry Ministry.