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Tuesday, November 10, 2009

UEM Land sells land to Khazanah for RM26.7 million

KUALA LUMPUR: UEM Land Bhd is disposing of two parcels of land in Puteri Harbour for RM26.7 million to Khazanah Nasional Bhd's Themed Attractions and Resorts Sdn Bhd (TAR).

UEM Land said on Monday, Nov 9 that under the sales and purchase agreement, UEM Land would be appointed as the development manager to supervise, manage and oversee the overall development of the land.

The objective is to develop the site into an indoor theme park, retail centre and hotel within four years.

TAR is a unit of Khazanah. It was incorporated in June to develop and operate themed attractions and resorts to enhance the leisure and tourism industry in Malaysia, with a special focus on families.

TAR is managing two projects and they are Kidzania in Kuala Lumpur and the Family Indoor Theme Park in Puteri Harbour, Johor.

By The EDGE Malaysia (by Joseph Chin) Posted on 9 Nov 2009

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