By Xavier Kong
Bina Puri Holdings Berhad and Titijaya Land Berhad has announced a joint venture agreement today for a mixed development project near Brickfields.
According to separate statements to Bursa Malaysia today, Bina Puri Construction Sdn Bhd, a wholly-owned subsidiary of Bina Puri Holdings Bhd, and Titijaya Land will partner through a joint venture company called Prosperous Hectares Sdn Bhd, which is presently a wholly-owned subsidiary of Titijaya Land.
The joint venture is to develop a mixed residential and commercial strata development project on a portion of land in Seksyen 69, Kuala Lumpur, which is near Brickfields.
According to Titijaya, the development site is locatd within the immediate vicinity of transportation hub KL Sentral.
“The Land is also situated within the immediate vicinity of a Light Rail Train Station and the most recent added amenities accessible to the Land include the Nur Sentral Mall,” said Titijaya Land. “It also represents an opportunity for the Group to strengthen its presence in the Klang Valley, which is also in line with the Group’s strategy to achieve sustainable long term growth and visibility.”
At the end of the trading day, Bina Puri Holdings Bhd’s shares were valued at 71.5 sen, inching up a sen, while Titijaya Land Bhd’s shares were valued at RM2.19, up 7 sen.
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