Malaysian Resources Corp Bhd (MRCB) has entered into a development contract with Pelaburan Hartanah Bumiputera Bhd to develop residential units ranging from high-end apartments, landed units to affordable housing on Penang Island.
With an estimated gross development value of RM500 million, the residential developments are situated on 47.8ha of land within three sites – Pengakalan Welk, Gelugor and Teluk Kumbar.
The developments will commence by the end of the year and take between five and seven years to complete.
