JOHOR BARU: The first phase of Coop City development in Bandar Penawar near Kota Tinggi will start in September this year and slated for completion in early 2019.
Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) president Datuk Abdul Fattah Abdullah said the first phase would involve the development of 30 units of shops and 128 units of two-storey terrace houses costing RM87 million.
"The first phase development plan has been approved but the contractor for this project is now being shortlisted as 16 contractors had submitted their bids," he said to reporters at Angkasa Aidilfitri gathering here today.
Abdul Fattah said priority for the shops and houses would be given to cooperative members in the state, which to-date had 1,300 cooperatives with some 500,000 members.
He said Coop City would be jointly developed by Angkasa and Koperasi Pengerang Kota Tinggi Bhd and the project comprised three phases of mixed development on a 22-hectare site in Bandar Penawar.
The project with a gross development value of RM217 million will be the first cooperative city in the country and its construction concept will be similar to the first and biggest cooperative city in the world which is in Bronx, New York, United States.
"Overall, Coop City Bandar Penawar will consist of 640 units including shops, two-storey terrace houses as well as Johor Affordable Housing," he said.
Abdul Fattah said the cooperative was grateful to the Johor government which offered the land in Bandar Penawar for the project.
He also urged the cooperative members in the state to grab the opportunities to buy the development projects offered by Coop City Bandar Penawar as its location is close to the Refinery and Petrochemical Integrated Development project in Pengerang.
He also hoped the other state governments would emulate the Johor government’s move for the benefit of the cooperative members. -- BERNAMA