PETALING JAYA: Property developer LBS Bina Group Bhd
has entered into a joint venture (JV) with Hotel Rasa Sayang Sdn Bhd to build 579 serviced apartment units on a 0.48ha freehold plot of land in the centre of Johor Baru.
LBS said in a stock exchange filing that under the JV, Rasa Sayang, the owner of the plot located along Jalan Dato’ Dalam in downtown Johor Baru, would be entitled to RM42mil over an 18-month period upon the execution of the agreement.
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