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KUALA LUMPUR, Feb 22 -- The Ministry of Entrepreneur Development and Cooperatives (MEDAC) has appointed UDA Holdings Bhd (UDA) to develop cooperative retail stores in Kuala Klawang, Negeri Sembilan.
In a statement today, UDA said the UDA Niaga project would involve the development of four lots of two-storey shophouses on 0.069 hectare (0.17 acre) owned by Koperasi Kakitangan Kerajaan Daerah Jelebu Bhd.
“The turnkey development is expected to take eight months to complete and the government will fund this project with an estimated RM1.7 million gross development cost grant.
"Once completed, it will be handed over to the owners of the land. The project is aimed to be a catalyst to help stimulate the local economy," said the property developer and asset management company, which is under the purview of MEDAC.
Entrepreneur Development and Cooperatives Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said the community would benefit greatly as UDA Niaga would be located near schools and government offices.
"The government hopes that this initiative will be an example to other cooperatives to encourage the spirit of entrepreneurship in the area," he said.