Aspen steps up Selangor push with RM58.8m investment

Singapore

ASPEN (Group) Holdings is pursuing its third project in Selangor, Malaysia, with a RM58.8 million (S$19.6 million) investment into a commercial site via a joint venture with Selangor Agricultural Development Corp (PKPS).

The 12,185 square metre site in Seri Kembangan, Selangor will be developed into serviced apartments with full facilities. The project's gross development value is estimated to be RM300 million, said Aspen, a Malaysia-based property developer. Terms and conditions of the intended joint venture have yet to be set, and sales are expected to begin from 2019. Completion is set to be within four years of the date of the joint venture.