1MDB Real Estate to work with group to develop Bandar Malaysia

An artist's impression of Bandar Malaysia.

KUALA LUMPUR: 1MDB Real Estate Sdn Bhd (1MDB RE)will work with one or a few consortium to develop the 486-acre Bandar Malaysia, said C.H. Williams Talhar & Wong, its transaction advisor in a press briefing. 

The property consultancy's deputy managing director Danny Yeo said 1MDB RE is open to discussion at this point in time. C.H. Williams is inviting expressions of interest from parties who will work with 1MDB on an equity basis.

The expressions of interest ends on July 10.

1MDB RE executive director, corporate services Mohd Zakir Omar was present at the briefing. 

Yeo said the development would take 20 to 30 years depending on market conditions.