KUCHING: The signing of the Memorandum of Understanding (MoU) between the Sarawak Economic Development Corporation (SEDC) and UDA Holdings Berhad will assist in the real estate development of Sarawak.
Chairman of SEDC, Tan Sri Datuk Amar Abdul Aziz Husain said that the strategic collaboration would attract more investments and thus generate more revenue for the state.
“The MoU serves to identify and develop real estate that can potentially stimulate and develop Sarawak’s economy,” Aziz said at a press conference after the MoU signing ceremony at Grand Margherita Hotel here, yesterday.
He added that both SEDC and UDA are planning to assist Bumiputera contractors as many of them are still in the lower levels.
“With this effort, these contractors can be bigger in the future.
“The MoU will also allow SEDC to grow in the real estate industry and thus becoming a catalyst towards bigger institutional investment in the sector. “We are also planning to work together with UDA to develop public transportation such as the Light Rail Transit (LRT) from Kuching, Samarahan and Serian,” said Aziz.
Meanwhile, Chairman of UDA Holdings Berhad, Datuk Seri Dr Mohd Shafei Abdullah said that the MoU also involved collaboration in research, information exchange and technology as well as real estate management, property management and leisure industry.
“Currently, we don’t have any project that we are working together on, but we do have projects that are currently being planned especially projects that will benefit the community, particularly infrastructures,” said Shafei.
