KUALA LUMPUR: Ideal United Bintang International Bhd has teamed up with PR1MA Corporation Malaysia to jointly undertake a property development project in Bandar Gelugor, Penang.
Ideal United said on Tuesday its unit Ideal Capital Venture Sdn Bhd had signed a head of terms with PR1MA to jointly develop the land with the total size of land of 65,720 square metres or 16.24 acres.
The gross development value for the project which is on Penang island is RM828.6mil.
“This development is expected to contribute positively towards the revenue and earnings of Ideal in accordance with the stage of progress to be recognised over the next three to five financial years, ” it said.
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