KUALA LUMPUR: DKLS Industries Bhd is teaming up with the Selangor State Development Corporation (PKNS) for a proposed mixed property project with a gross development value (GDV) of RM1.5bil.
DKLS said it had on Fridays entered in to a heads of agreement with PKNS to redevelop a parcel of land including the Green Reserve and part of Section 17 in Petaling Jaya, measuring 15.9 acres.
The proposal is a mixed development comprising commercial, retail and residential units anf the GDV of the proposed redevelopment was about RM1.5bil.
"The rationale for the company to participate in the proposed redevelopment is to complement DKLS Group's corporate strategy to pursue new business opportunities at all times aiming to enhance returns from such investments," it said.
By The Star