KUALA LUMPUR: Damansara Realty Bhd has inked a memorandum of understanding (MoU) with Country Garden Real Estate Sdn Bhd, a unit of Hong Kong-listed developer Country Garden Holdings Co Ltd, to jointly develop a portion of 52-acre land in Tebrau, Johor Baru.
The construction and property development company told Bursa Malaysia that the venture would be undertaken via a special-purpose vehicle company incorporated under Malaysian laws.
The MoU would remain in effect for a period of three months, it said.
Guangdong-based Country Garden has three major projects in Malaysia, including the Danga Bay launched in 2013, Semenyih Diamond City in Kuala Lumpur launched in 2014 and Forest City launched in Gelang Patah, Johor, this year.
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