Reneuco's unit to build residential and commercial units worth RM293.8 mln in Terengganu

sharen@nst.com.my

Reneuco Bhd's wholly-owned subsidiary Reneuco Development Sdn Bhd (RenDev) plans to build residential and commercial properties in Terengganu with a projected gross development value of RM293.8 million.

The proposed affordable and mixed housing development would be built on government land in Kuala Nerus.

RenDev has been given the go-ahead for the proposed development by the Terengganu state government, according to Reneuco in a stock exchange filing today.

It stated that RenDev had entered into a joint venture agreement for the proposed development on December 7, 2022, with Pejabat Setiausaha Kerajaan Negeri Terengganu, acting on behalf of the State Government of Terengganu, and Perbadanan Memajukan Iktisad Negeri Terengganu (PMINT), to govern the rights and responsibilities of the parties in implementing and carrying out the proposed development.