Thursday, April 28, 2011

Ria Pertiwi to develop living facilities for UUM

28 Apr 2011

Ria Pertiwi Sdn Bhd today signed a memorandum of understanding with Uniutama Holdings Sdn Bhd to develop accommodation facilities for Universiti Utara Malaysia (UUM)'s international students.

The proposed development, estimated to cost about RM100 million, is planned over a 13.35 hectare site near UUM's main campus in Sintok, Kedah.

Ria Pertiwi Executive Chairman Datuk Ahmad Faizal Datuk Wira Jaafar said the project was expected to commence construction in July and be completed within 24 months.

"A two acre park, which will be planted with local fruits, will become a unique feature at the facility," he said after the signing ceremony today.

The development will include nine blocks of furnished apartment type hostels for 2,000 students, a multi-purpose hall, cafeteria, surau, student centre and sports facilities.

Under the agreement, Uniutama, which has a 25-year concession to design, build, operate and lease the project, will transfer the concession rights to Ria Pertiwi to build the facility, upon the  approval of UUM. - Bernama



(Quick check: Cost per student is RM50k. If break-even period is 10 years, rental is RM5k/yr i.e. RM500 per month per student, assuming 10 months occupancy in a year. If apartment is designed for 3 students, rental per apartment is RM1,500 per month)

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A seeker of success (whatever that means) treading on a path, searching, to return to the wholesomeness that was him when he was launched into this big school called Earth.