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Tuesday, July 29, 2008

Mutiara's RM430m project in Kajang

PROPERTY developer Mutiara Good-year Development Bhd will be developing mixed commercial and residential properties in Kajang with a gross development value (GDV) of RM430 million.

Mutiara, through its wholly-owned unit, entered into a joint-venture agreement with Kajang Heights Development Sdn Bhd yesterday to develop the latter's 27.77ha (68.58 acres) land, it told Bursa Malaysia yesterday.

"Under the agreement, Kajang Heights Development is entitled to RM50 million, or 22 per cent, of GDV from the project with an initial payment of RM6 million," it said.

By New Straits Times

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