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Friday, July 9, 2010

Bandar Raya takes over

BANDAR Raya Developments Bhd (BRDB) will replace Dubai’s Limitless Holdings Pte Ltd as UEM Land Bhd’s majority partner in the “Residential North” of the Puteri Harbour Development in Nusajaya, Johor.

BRDB will buy Limitless’ 60 per cent stake in Haute Property Sdn Bhd for RM76 million in assumed debt.

Limitless is owned by Limitless LLV, a global master developer based in Dubai.

Haute has the rights to undertake the development of 44.96 ha of land in Nusajaya.

By Business Times

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