L&G in venture to develop serviced apartments

LAND & GENERAL Bhd (L&G), a property developer, is partnering its major shareholder to develop serviced apartments in Ampang, Kuala Lumpur.

L&G's unit Synergy Score Sdn Bhd (SSSB) and Forward Splendour Sdn Bhd (FSSB) will form a joint venture company, Elite Forward Sdn Bhd (EFSB) for this purpose.

EFSB had agreed to buy a parcel of freehold land measuring 10,546.77 sq m from Sazean Holdings Sdn Bhd for RM55 million.

By Business Times