GEORGE TOWN (April 10): Aspen Group Holdings Limited (Aspen) wholly-owned subsidiary, Aspen Vision Development Sdn Bhd has signed a joint venture agreement with Perbadanan Kemajuan Pertanian Selangor (PKPS).

Aspen Group’s group managing director A Anilarasu said the joint venture marked Aspen’s acquisition of development rights to undertake residential development on a 1.22-hectare leasehold commercial land in Seri Kembangan, Selangor.

He said Aspen planned to build full facilities service apartments on the land which is ready for immediate development.

“The proposed development will benefit from existing amenities and infrastructure in a matured residential township, including major access roads and highways, two proposed Mass Rapid Transit (MRT) stations, international schools, retails shops, commercial conveniences and a hypermarket,” he said.

Anilarasu said the RM300 million project is expected to take off in the fourth quarter of this year and completed within four years from the date of the joint venture agreement.

“This development gives us a very good opportunity to venture into the Central Region by modelling the successful affordable home business model that we have created in Penang,” he added.

The signing ceremony was witnessed by Penang State Exco for Agriculture, Agro-based industries, Rural Development and Health Dr Afif Bahardin and Aspen chief executive officer and president Datuk M Murly.