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Wednesday, November 2, 2011

Mah Sing inks MoU with Thailand's Central Pattana for potential JV

KUALA LUMPUR: Mah Sing Group Bhd today signed a memorandum of understanding (MOU) with Central Pattana Public Co. Ltd, to jointly study the potential investment of developing and managing a one million sq ft retail mall, within Icon City in Petaling Jaya, through a joint venture and or partnership.

"We believe the potential joint venture with Central Pattana will add vibrancy and further uplift the overall appeal of Icon City with the latest in retail offerings and shopping experiences of world-class standards," said Mah Sing's Group Managing Director cum Group Chief Executive, Tan Sri Leong Hoy Kum, in a statement today.

Icon City is Mah Sing's flagship integrated commercial project with an estimated gross development value of about RM3.2 billion.

The integrated development comprises shop offices, retail lots, small office versatile offices and serviced residences in Phase 1.

It also comprises the retail mall, hotel, serviced residences, boutique offices and corporate office towers in the second phase.

Central Pattana is Thailand's largest retail developer currently managing 16 shopping centres, six office buildings, two hotels and two residential projects.

By Bernama

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