Kuala Lumpur, May 24 \u2013 Harvest Court Construction Sdn Bhd, a subsidiary of Anzo Holdings Berhad (Anzo), yesterday sealed an agreement with MCC Overseas (M) Sdn Bhd., to form a consortium to undertake the construction of Paragon @ KL Northgate<\/i>, a mixed-development project with a gross development value of RM3.6 billion.\u00a0<\/p>\n
The consortium was formed after Harvest Court Construction had in April 2017 received a Letter of Intent from KL Northgate Sdn Bhd, the master developer of Paragon @ KL Northgate<\/i>, to undertake construction work that would amount to a maximum of RM1.21 billion. Harvest Court Construction and MCC Overseas will have an equal 50:50 stake in the consortium.\u00a0<\/p>\n
MCC Overseas is the Malaysian subsidiary of China Metallurgical Group Corporation (MCC Group, China\u2019s leading multidisciplinary and multinational company under the direct supervision of China\u2019s State Asset Supervision and Administration Commission (SASAC). Listed in the stock exchange of Hong Kong and Shanghai, MCC Group was a pioneer in China\u2019s iron and steel industry, and has since grown into one of the world\u2019s largest metallurgical companies.\u00a0<\/p>\n
Datuk Eddie Chai Woon Chet, Managing Director of Anzo, said, \u201cThe sealing of the agreement between Anzo and MCC Group today is a significant milestone that will place the consortium in a strong position to negotiate and finalise the contract document and pricing with KL Northgate Sdn Bhd. We expect to complete negotiation process with KL Northgate by the 3rd quarter of 2017.\u201d<\/p>\n
\u201cIn addition to being one of the World\u2019s Top 500 companies, MCC Group possesses a strong track record and positive reputation in the real estate industry in Malaysia; having successfully completed several notable projects within the Klang Valley. Anzo intends to leverage on MCC Group\u2019s experience in real estate development to meet our customer\u2019s expectations,\u201d he added.<\/p>\n
Located on an 18-acre landbank in Selayang, Paragon @ KL Northgate<\/i> is expected to commence construction at the end of 2017. The mixed-development project will comprise of a 6-storey shopping mall with a gross floor area of 1.8 million sq. ft.; 54 units of shop-offices; a 31-storey residential tower with 400 apartment units; a 37-storey block that will be house 350 units of serviced apartments; and two hotels. An indoor water theme park has also been designed into the development.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Kuala Lumpur, May 24 \u2013 Harvest Court Construction Sdn Bhd, a subsidiary of Anzo Holdings Berhad (Anzo), yesterday sealed an agreement with MCC Overseas (M) Sdn Bhd., to form a consortium to undertake the construction of Paragon @ KL Northgate, a mixed-development project with a gross development value of RM3.6 billion.\u00a0 The consortium was formed […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-544","post","type-post","status-publish","format-standard","hentry","category-corporate"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=544"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/544\/revisions"}],"predecessor-version":[{"id":6318,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/544\/revisions\/6318"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}