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Wednesday, July 1, 2009

UEM Land positive of securing partners for Puteri Harbour devt

KUALA LUMPUR: UEM Land Bhd is optimistic of securing partners for its Puteri Harbour development in Nusajaya, Johor by year end after Dubai’s Damac Properties pulled out of RM396.4 million land deal.

UEM Land managing director and chief executive officer Wan Abdullah Wan Ibrahim said on July 1 the company was in “talks with four to five potential partners including locals and from Australia and Singapore” for the project.

Dubai’s Damac Properties had in June pulled out of a deal to acquire 43.54 acres of land in Nusajaya for RM396.4 million from UEM Land after a disagreement over a second extension for the approval period.

By The EDGE Malaysia (by Cindy Yeap)

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