TAWAU: Koperasi Serbaguna Kakitangan Sawit Berhad (Kosawit), has entered into a joint venture with a private developer, Masama-Winquest JV Sdn Bhd to undertake a mixed project involving houses and a commercial centre worth RM109 million in Sungai Balung, 32km from here.

The project on a 42 hectare site will begin early next year.

The groundbreaking ceremony was conducted by the deputy chairman of the Cooperatives Commission of Malaysia (CCM) Mohd Yusof Shamsudin, who represented the Entrepreneur and Cooperatives Development Minister Datuk Noh Omar here yesterday.

The project on the land which belongs to Kosawit will be undertaken in four phases and is expected to be fully completed in six years time.

Through this project, the Balung area will be transformed into a new township complete with infrastructure including a shopping centre.

“This initiative by Kosawit and Masama-Winquest is timely as the Balung area has no commercial centre as yet,” said Masama-Winquest managing director Juita Drap.

He said the first phase will involve building 94 units of two-storey shophouses and 10 units of three-storey shophouses while the second phase has 139 units of single storey terrace homes.

According to Juita, the third phase will see the construction of 194 units of single storey houses with 166 more units being built in the fourth phase.

He said that bookings were now open for the single storey terrace houses costing between RM135,00 and RM186,000 and the shophouses at between RM376,000 and RM445,000.

— Bernama