POWERNET PROPERTIES SDN BHD
On 26 February 2016, Powernet Properties has signed a Sale & Purchase Agreement to acquire the development rights from SSF Homebuilders Sdn Bhd on a joint-venture development with Majlis Bekas Wakil Rakyat (MUBARAK) Malaysia to build 6 units of 6-storey commercial shop offices in Sentul, Kuala Lumpur. Gross Development Value (GDV) of this development is projected to be at least RM28 million.
The Sentul Joint-Venture with MUBARAK will be Kumpulan Powernet Berhad’s maiden development project.
The Company plan to establish itself as a niche and selective developer within major hubs in Peninsular Malaysia namely Greater Klang Valley, Penang & Johor but do not rule out the possibility of entering other cities & towns that demonstrate growth potential.