PETALING JAYA: OCR Group Bhd aims to launch Vertex Kuantan, its second project in the city, by the first half of 2020, said group managing director Billy Ong Kah Hoe.
The mixed development, dubbed the “tallest development in Kuantan”, will have a gross development value (GDV) of RM268 million.
Meanwhile, Ong (pix) said the group had also seen a healthy take-up rate of 85% for the first phase of its affordable housing project, PRIYA Scheme Kuantan.
“Kuantan is evidently one of the most vibrant locations in the East Coast of Peninsular Malaysia, with major investments and industrial developments such as Malaysia-China Kuantan Industrial Park as well as the upcoming East Coast Rail Link.
“With the rapid urbanisation in Kuantan, we believe that this project not only provides us access into the up-and-coming property hotspot in Kuantan, but also supports the state’s home ownership drive among the masses,” he said in a statement.
The PRIYA Scheme Kuantan is a 50:50 joint venture between OCR’s subsidiary O&C Properties (Kuantan) Sdn Bhd and Yayasan Pahang.
The development is currently the largest affordable housing scheme in Kuantan.
The RM166 million GDV project comprises 978 units of single-storey terrace houses and 146 units of single-storey semi-detached homes starting from RM137,000. The project is slated to be completed in the second quarter of 2021.
