Ireka | 15-12-2018
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15-12-2018

IREKA AND HANKYU HANSHIN LAUNCHES FIRST JOINT VENTURE DEVELOPMENT, DWI @ RIMBUN KASIA, NILAI

 

NILAI, 15 DECEMBER 2018– Following the earlier announcement in April 2018 to jointly develop Rimbun Kasia in Nilai, Ireka Corporation Berhad (“Ireka”) and Hankyu Hanshin Properties Corporation (“Hankyu Hanshin”) today officially launched their first joint-venture development project, Dwi@ Rimbun Kasia (“Dwi”).

 

The Rimbun Kasia development is a new residential enclave covering five parcels of a residential project, and one parcel of commercial project, over a 30.56-acre piece of land located in the town of Nilai, Negeri Sembilan. These projects will have the combined Gross Development Value of RM1.2 billion.

 

As a start, the joint venture between Ireka and Hankyu Hanshin will focus on the development of Dwi, consisting of 382 residential units, 203 of which are dual-key units, in a 9-storey block; and another parcel of land which will have 465 residential units in two 19 and 29-storeys developed on it.

 

Dwi will be developed under the ZenZ brand, the sister brand to Ireka’s iconic i-ZEN brand, targeting at the growing mid-market segment. Dwi will spearhead the first of five projects planned in the Rimbun Kasia development, to meet the Government’s agenda to increase, not just homes, but good quality family homes in the mid-market range in order to house the booming population in urban areas like the Klang Valley. Properties under the zenZ brand are dedicated to modern design and practical touches without compromising on style, which is embodied in its 5E Principles: Economical, Evolutionary, Efficient, Essential and Eco-conscious.

 

 

Ireka will be leveraging off its Japanese partner, Hankyu Hanshin’s highly successful Geo brand of properties, well-known for their quality design from the customer’s point of view. Osaka-based Hankyu Hanshin is a wholly-owned subsidiary of one of Japan’s most prolific conglomerate, Hankyu Hanshin Holdings Inc., with core businesses in real estate, urban transportation, entertainment and communications, travel, international transportation and hotels. Hankyu Hanshin Holdings Inc. is listed on the First Section of the Tokyo Stock Exchange. This strategic, long-term collaboration with Hankyu Hanshin to develop medium-end residential homes in Rimbun Kasia for the Nilai community and beyond is yet another important milestone for Ireka.

 

 

With Ireka’s long track record of building high-end homes in the Mont’ Kiara and KLCC areas, the Company is looking forward to bringing its expertise to the medium end housing sector. Ireka first ventured into the mid-range property market with the Kasia Greens, Nilai development of 142 units (two-storey terraced homes and three-storey Superlinked homes) which were completed and fully-sold in 2015.

 

 

According to Ireka’s Group Managing Director, Datuk Lai Voon Hon, “We are so proud to be working in partnership with Hankyu Hanshin on the Rimbun Kasia development, which will be their first project in Malaysia. I am confident the joint-venture partnership will give us a competitive edge in this housing sector and I look forward to working with Hankyu Hanshin, leveraging on their vast experience, strong track record and financial strength.”

 

 

About Dwi@Rimbun Kasia:

 

Thoughtfully designed to offer a balanced and healthy lifestyle for its residents, Dwi consists of a comprehensive coverage of facilities that include a swimming pool, playground, multi-purpose hall and gymnasium. Dwi is also located adjacent to a 2.3 acre Community Central Park with facilities that include a basketball court, ball field, multipurpose deck, picnic terrace, jogging track, cycling track, play equipment and floating pavilion, where residents can enjoy the outdoors. To ensure the residents’ safety, the development is gated and guarded with a 24-hour CCTV surveillance system.

 

 

Dwi is also well connected via highways such as the North-South Expressway, Elite Expressway, KL Putrajaya Highway (MEX Highway), KLIA Extension Highway and Lekas Highway. Meanwhile, the Nilai and Batang Benar KTM Commuter station nearby and the KLIA Transit station at Salak Tinggi are a 20 minute drive away.

 

 

The End

 

 

 

Dwi@ Rimbun Kasia, Nilai

About Ireka Corporation Berhad:

Ireka Corporation Berhad (‘Ireka’) www.ireka.com.my was founded in 1967. Ireka was listed on the Second Board of Bursa Malaysia on 12 July 1993, and transferred to the Main Board (now known as Main Market) on 13 June 2002. Currently, the Group’s activities are divided into three core businesses; namely Infrastructure, Real Estate, and Technologies. Note: The diagram below indicates key entities only.

 

 

 

 

 

 

 

In its over five decades of operation in the Infrastructure business, Ireka has distinguished itself by its involvement in constructing some of the country’s most notable projects; such as the MRT V7 rail line, the Kuala Lumpur International Airport runway, Kuala Lumpur Middle-Ring Road II, North-South Expressway, Putrajaya Government Administrative Offices, DiGi Corporate Office (D’House), Technology Park Malaysia, The Westin Kuala Lumpur, OCBC Head Office and Wisma AIG.

For more information, please visit www.ireka.com.my

 

 

About Hankyu Hanshin Properties Corp:

Hankyu Hanshin Properties Corp (‘Hankyu Hanshin’): https://www.hankyu- hanshin.co.jp/en/corporate/about_us/ is based in Osaka, Japan and part of the Hankyu Hanshin Holdings Group that conducts business in the six core areas – Urban Transportation, Real Estate, Entertainment and Communications, Travel, International Transportation, and Hotels. Hankyu is Japan’s largest provider of affordable housing and overseas, they have partnered building projects in Vietnam, Indonesia, Thailand and the Philippines.

 

 

About zenZ:

Venturing into the mid-market property sector, Ireka created zenZ – a sister brand of i- ZEN. The hallmark of any zenZ property is its dedication to the modern design and practical touches without compromising on style. The essence of zenZ is embodied in the 5E Principles: Economical, Evolutionary, Efficient, Essential and Eco-conscious. Its completed project, Kasia Greens in Nilai, Negeri Sembilan was the company’s first zenZ project.

 

For more information, please contact:

 

Chan Chee Kian
Tel: 03 6411 6398 ext 6398 E-mail: cheekian.chan@ireka.com.my

 

Tiggy Munnelly
Tel: 03 64116388 ext 6899. E-mail: tiggy.munnelly@ireka.com.my