KHSB Signs MoU With Sun Lohas For Eco-Development

SHAH ALAM (Selangor, Malaysia) May 18 (Bernama) -- Kumpulan Hartanah Selangor Bhd (KHSB) and Sun Lohas Group Ltd, a company incorporated in Hong Kong, signed a memorandum of understanding (MOU) on Thursday, on the proposed eco-development concept of a 2,013-hectare land in Bestari Jaya, Kuala Selangor. Chairman of KHSB Raja Idris Raja Kamarudin said the main concern of the MoU is to enable Sun Lohas to carry out a financial and legal due diligence as well as feasibility study on the proposed development known as 'Sun Lohas City'. He said the development will start in six months time after considering factors such as immigration, labour and legislation. "Sun Lohas has proposed to KHSB a unique concept for the proposed development of our land in Bestari Jaya. If the concept is workable and feasible, the proposed project would offer an opportunity for skill development in this state. "Skills can be developed in the area of engineering, agro-farming, building technologies, project management, and other related aspects of town planning as well as construction," he said in a press conference after the MoU signing here on Thursday. Raja Idris signed on behalf of KHSB and Sun Lohas was represented by its chairman, Chen Ping. Also present was Selangor Chief Minister, Abdul Khalid Ibrahim who witnessed the MoU singing. Meanwhile, Chen said the gross development value (GDV) of the project is estimated to be around RM8 billion (US$2.55 billion). "The purpose of this project is to be developed based on a concept of ‘A Revolution of Living’ with a structure of connection between man, nature, culture and city," he said. Chen said the completion of the development is expected in 10 years time. -- BERNAMA