PETALING JAYA: KTI Landmark Bhd has entered into a development agreement with the Sabah State Government to develop a cultural complex with facilities, amenities and related infrastructure on a public-private partnership basis by way of land swap initiative, worth RM107mil.
In a filing with Bursa Malaysia, KTI Landmark said the Government has identified a parcel of state land measuring a total area of 153 acres in Kinarut reserved for a “Cultural Complex Site.”
The company said it is required to carry out and complete, at its own cost, the proposed project with all infrastructure, including roads, driveways, culverts, water mains, sewerage mains / pipes / plants and landscaping serving and / or relating to the project.
KTI said it shall commence construction works of the project within nine months from the date of approval of the building plans or the amended building plans or the environmental impact assessment by the appropriate authorities, whichever is the later.
Construction is expected to be completed within a period of 36 months from construction commencement date.
