ANZO Holding Bhd announced that its wholly-owned subsidiary Harvest Court Properties Sdn Bhd (HCP), has entered into a Collaboration Agreement with land owner Captive Max Sdn Bhd (CMSB), for the joint development and construction of a showroom centre and office towers in Petaling Jaya with estimated gross development value (GDV) worth up to RM420million.
The proposed showroom centre, which features four blocks of signature office towers, will also include E-commerce showrooms and ready offices, a fulfilment and distribution hub, and also a call center.
The project’s estimated gross floor area (GFA) is 500,000 square feet with 70 percent of its net floor area (NFA) projected to be at 350,000 square feet.
Construction costs of the project are estimated at RM150million, spanning across 2.87 acres and is situated in the piece of commercial land in Petaling Jaya along the Federal Highway.
ANZO, which began as a manufacturer of an extensive range of timber products is evolving into an upcoming player in the Malaysian construction industry, while simultaneously growing its timber manufacturing base.
According to the Managing Director of ANZO Holdings Berhad, Datuk Eddie Chai, the Company has steadily secured notable projects in collaboration with local and international partners, and will consistently build on its core strengths as an emerging player in the construction industry.
“We would like to thank Captive Max Sdn Bhd for their trust and confidence in our capabilities to deliver the proposed showroom centre project together, which will feature four blocks of signature office towers.
“We believe that ANZO is on the path to sustainable profitability. The Company’s Construction Division in particular is contributing to our performance, therefore, ANZO will continue to bid for more construction contracts from the public and private sectors,” said Chai.
In March this year, ANZO was appointed as the main contractor for Phase 2 of the Porto De Melaka Hotel and Resort development in Malacca by Tinta Anggun Engineering Sdn Bhd. The contract is valued at RM109.3 million.