Distinctive job: Iskandar Investment president and CEO Datuk Syed Mohamed Syed Ibrahim (left) exchanging documents with Distinctive Group chairman Datuk Dr David Koh after signing an agreement for the latter to develop a parcel of land in Iskandar Malaysia called 18@Medini for a gross development value of RM1.5bil.
PETALING JAYA: Iskandar Investment Bhd has signed a lease purchase agreement with Distinctive Ace Sdn Bhd, a member of Distinctive Group, for the latter to develop a parcel of land in zone A of Medini into a mixed commercial development project with a gross development value (GDV) of RM1.5bil.
The 99-year lease purchase agreement between the two involved the purchase of a gross floor area 2.75 million sq ft over 18.05 acres of land at a consideration price of RM99.9mil.
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