NEGARA Properties (M) Bhd's joint venture with Golden Hope Plantations Bhd to develop four new townships will bring in a total gross profit of about RM500mil over the development period of 10 to 15 years.
At an EGM in Kuala Lumpur yesterday, Negara Properties shareholders approved the four unincorporated joint venture agreements entered into between the company's subsidiaries – Negara Properties Smarthome Sdn Bhd, Melawati Development Sdn Bhd and Negara Properties Realty Sdn Bhd – with Golden Hope Development Sdn Bhd, a wholly-owned subsidiary of Golden Hope Plantations.