Hunza Properties Bhd

Hunza Properties Bhd has deferred its RM400 million Gurney Paragon Mall project, the construction of which was earlier scheduled to start September 2008.

Meanwhile, 60% of Hunza Properties’ 119 residential units of the luxurious Infinity project in Tanjung Bungah have been sold and 50% of the project, which is targeted for completion by August next year, has been bought by foreigners under the Malaysia My Second Home (MM2H) programme.

Hunza was also on the prowl to increase its landbank on Penang Island and in the Klang Valley. It will embark on acquiring land in prime areas in Penang, focusing on the areas from Jalan Sultan Ahmad Shah to Batu Ferringhi.

Currently, Hunza’s landbank consists of 500 acres in Bertam, 300 acres in Sungai Petani, 40 acres in Juru, six acres in Segambut, 10 acres of Alila Two site and another 60,000 sq ft near Marina Bay.