The Cooperative Commission of Malaysia (SKM) is set to build a new town in Sungai Ara, Penang.

Executive chairman Datuk Nordin Salleh said the project would be developed by SKM’s subsidiary, Sungai Ara Bhd (Tunas Muda).

He said the new town, which will comprise residential units and various other amenities, is an initiative by SKM to help its members own affordable homes. It will be the country’s first ‘cooperative town’ and estimated to cost RM1.6 billion.

“To me, Tunas Muda’s plan to build its own town is something that is forward-looking and it is in line with our efforts to prioritise the well-being of the people,” he told reporters after visiting the ‘coop market’ at Masjid At-Taqwa here yesterday.

He said the project covering 83.3 hectares and involves 3,867 housing units, various facilities and infrastructures such as a mini stadium, football field, clinic and mosque is expected to be completed within three years.

Nordin encouraged cooperative members to venture into new business endeavors to establish themselves as cooperative entrepreneurs who could truly fulfill the society’s needs.

“SKM does not want them to become complacent, rather, we want them to expand their businesses and keep up with the times. We are in pursuit of (economic growth) in manufacturing, trade and so on,” he said.

Source: EdgeProp.my