MALACCA, March 22 — Real estate investment holding company, Pelaburan Hartanah Bhd (PHB) is eyeing greater opportunities in the commercial sector in all the states.

This is to help enhance the ownership of real estate among Bumiputeras. Managing director and chief executive officer Datuk Kamalul Arifin Othman said the move represents the company's vision and long term plan after eight years of having focused on investments in the Klang Valley.

"It is time for PHB to gain a bigger footing in the real estate sector to discover investment opportunities outside the Klang Valley and a for a start, Melaka, is the first state towards this new direction and construction of the "The Shore Shopping Gallery".

"We will continue to identify more real estate investments to be developed in Melaka and other states. For now, we are looking at a number of potential investments," he added.

He told reporters this after the opening of the new, The Shore Shopping Gallery, in Jalan Persisiran Bunga Raya here last night.

The opening was officiated by Melaka Chief Minister, Datuk Seri Idris Haron.

Kamalul Arifin said the opening of the RM212 million shopping gallery was another success for PHB in terms of investing in commercial shopping complex real estate after the opening of the Nu Sentral in Kuala Lumpur last year.

The Shore Shopping Gallery is an addition to PHB's real estate assets to be injected into the Amanah Hartanah Bumiputera (AHB) unit trust fund scheme and enhance ownership of real estate among Bumiputeras.

"The AHB scheme is part of the government's aspiration to ensure Bumiputera ownership of property in the country and the sharing of wealth through investments to be developed by PHB in the real estate sector," Kamalul Arifin said.

He said PHB will continue to ensure the implementation of various commercial real estate developments in the country in an effort to increase the size of the AHB unit trust scheme for Bumiputera investment.

The AHB scheme with a RM1 billion fund was launched by Prime Minister Datuk Seri Najib Tun Razak on Nov 29, 2010 and at present, its size has reached RM2 billion.

PHB has now various commercial real estate assets comprising office buildings, shopping complexes, logistics warehouses and hospitals at various locations throughout the Klang Valley. — Bernama