Ireka Handed RM468 Million Development Contract By Terengganu Government

Ireka has been given a boost to its order book, with the latest project handed by the Terengganu State Government for the development of affordable and mixed housing in the Kemaman District.

The project amount is estimated to be in the region of RM468 million with Ireka to undertake the construction and all other work related to the project. The proposed mixed development will be on the 200 acres of Government Land which will include building a hybrid development of 100 units of affordable housing Type A and 6 units single-storey shop lots and related works on 11.55 acres of the land parcel.

In order for Ireka to accept the job, the State Government had placed certain caveats including, to sell a minimum of 50% of the shop lot units to Malays/Bumiputera, to provide a price reduction of 5% from the sale price of the shop lots to Malays/Bumiputera; and to comply with views from all technical departments in relation to the land development.

Terengganu is a PAS-run state with strong Islamic values, the state generates most of its revenue from oil giant Petronas among others.

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