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