KUALA LUMPUR, MAY 4 — Construction on the 1,681-unit Phase 4 of Perumahan Penjawat Awam 1 Malaysia (PPA1M) for civil servants is expected to begin in the third or fourth quarter of 2018, says Protasco Bhd.
The groundbreaking ceremony for the construction of this phase was held today at Precinct 19, Putrajaya, with the Chief Secretary to the Government Tan Sri Dr Ali Hamsa officiating.
To be known as PPA1M Kenanga, the project will take Protasco an estimated 36 months to complete.
“We are confident that this project will contribute positively to the Group’s future earnings,” said Datuk Seri Ir Chong Ket Pen, Managing Director of Protasco Berhad.
The project is a joint venture between Protasco’s wholly owned subsidiary, Protasco Development Sdn Bhd, which holds 51 per cent, and Kop Mantap, a wholly-owned subsidiary of Koperasi Polis Diraja Malaysia Berhad, which holds the remaining 49 per cent.
The project was awarded to the joint venture in December 2017. Protasco completed Phase 1 of PPA1M Putrajaya in April 2017, and is currently building Phase 2.
Located on 11.2 acres, Phase 4 will have a Gross Development Value (GDV) RM356 million. Smaller units of 850 sq ft are priced from RM120,000 while larger units of 1,000 sq ft are priced from RM220,000 and above.
