Rukun Juang is an 85%-owned subsidiary of MRCB Land, which in turn is a wholly-owned subsidiary of Malaysian Resources Corporation Bhd (MRCB).

In a filing with Bursa Malaysia today, MRCB said the appointment was in connection with the development and construction of a mixed development on three parcels of leasehold land located in Bukit Jalil, measuring 30.81ha, for a provisional total project sum of RM11.01 billion.

“It would be an integrated development, comprising commercial and residential properties, office towers, hotels, retail shops and mall, small office virtual office, small office home office, serviced apartments and residential towers,” it said.

MRCB said the project could generate a gross development value of RM20.67 billion over a period of 20 years, based on its cost assumptions and the proposed selling price.

“It is expected to be well-received by the market due to strong fundamentals, including accessibility to highways, rapid population growth, transportation facilities and mobility,” it added.