Entered into a JV with Jaks Island to develop PJ Land… Star has entered into a joint development agreement with Jaks Island Circle Sdn Bhd (“Jaks Island”). Jaks Island is a 51%-owned subsidiary of Jaks Resources Berhad, has previous experience in developing USJ Sentral that is located in USJ’s township. The proposed agreement is to develop mixed residential and commercial development, which comprise three office towers and a 15-storey residential block. The total GDV is approximately RM370m, which should be completed within 2-3 years. Star will contribute a piece of 24,568 sq. mt. leasehold commercial land in Petaling Jaya to the project. The land is currently occupied with a few blocks of factory and office buildings that has been rented out to Utar Education Foundation at a monthly rental of RM115.8k.
Star Publications Berhad : Entering JV With Jaks Island To Develop PJ Land - 04/03/2010
No comments:
Post a Comment