PETALING JAYA: Khazanah Nasional Bhd has denied allegations that the withdrawal of Dubai’s largest developer from UEM Land Holdings Bhd’s deal to acquire a piece of land for RM396.44mil in Nusajaya, Iskandar Malaysia, is due to slow approval processes and infrastructure development in the area.
Managing director Tan Sri Azman Mokhtar said the allegations that Damac Group’s Damac Properties (M) Sdn Bhd pulled out of deal due to delay in approval processes and infrastructure development was untrue, adding that the overall investments in the economic zone was ahead of schedule.
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