KUALA LUMPUR (March 28): IGB Bhd plans to build a retail mall and or mixed development in Johor Bahru under a proposed joint venture with Selia Pantai Sdn Bhd.
It said on Wednesday it would be signing a non-binding MoU with Selia Pantai for a 70:30 joint venture to acquire and develop three pieces of leasehold land for the projects.
“The MoU sets out the understanding and intention of the parties in respect of the proposed JV. The MoU shall remain valid for 30 days except as otherwise mutually agreed in writing by the parties,” IGB said.
It said on Wednesday it would be signing a non-binding MoU with Selia Pantai for a 70:30 joint venture to acquire and develop three pieces of leasehold land for the projects.
“The MoU sets out the understanding and intention of the parties in respect of the proposed JV. The MoU shall remain valid for 30 days except as otherwise mutually agreed in writing by the parties,” IGB said.
