KUALA LUMPUR: Ivory Properties Group Bhd
has entered into a sale and purchase agreement for the acquisition of Copthorne Orchid Hotel & Resort Penang for RM75mil cash.
In a filing with Bursa Malaysia, the group said it had purchased the property on behalf of its subsidiary Ivory Utilities Sdn Bhd (IUSB), for the development of a hotel and serviced apartment with an estimated gross development value of about RM410mil.
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