He also noted that Selangor, through its subsidiary Worldwide Holdings Bhd, is involved in 10 pilot projects worth RM10 billion, many of which are focused on green technology.

He said that so far, land revenue sources such as land tax, premiums, land and mineral permits as well as land-related service fees account for as much as 80 per cent of the state's overall revenue.

Menteri Besar Selangor, Datuk Seri Amirudin Shari, berkata negeri itu berada di tempat ketiga dengan pelaburan sebanyak RM12 bilion pada suku pertama tahun ini, selepas berada di kedudukan kedua keseluruhan dengan meraih pelaburan RM55 bilion untuk setahun penuh 2023.

Its chief executive officer Datuk Mahmud Abbas said the residences, to be built in Petaling Jaya and in Section 13, Shah Alam, will be pilot projects, marking a new goal for the state entity in the six decades since its founding.

"The full recovery time is expected to be at 8:00 am on Friday (July 26)," it added.