PETALING JAYA: Nextnation Communication Bhd has entered into a memorandum of understanding with PT Inovisi Infracom Tbk with the objective of jointly developing a property project.
Nextnation told Bursa Malaysia in a filing that subsidiaries of both companies would collaborate with the objective of jointly developing a piece of land measuring 5.906 acres in Sepang, Selangor, into a mixed-development project, incorporating a proposed data centre, corporate office and other commercial and retail space.
The project’s first phase, which will have gross development value of about RM80mil, will be developed on a 25:75 basis, with Nextnation’s subsidiary holding the majority portion. There will be two phases in the project.
By The Star