Yong Tai to jointly undertake RM510m project in Ijok
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Yong Tai to jointly undertake RM510m project in Ijok
Yong Tai to jointly undertake RM510m project in Ijok
By The Edge Financial Daily / The Edge Financial Daily | July 4, 2016 : 9:50 AM MYTThis article first appeared in The Edge Financial Daily, on July 4, 2016.
KUALA LUMPUR: Yong Tai Bhd has teamed up with PGCG Assets Holdings Sdn Bhd to jointly undertake a mixed development with a gross development value of RM510 million in Ijok, Kuala Selangor.
The garment-maker-turned-property developer said it has inked a memorandum of understanding with PGCG for the proposed development, according to a filing with Bursa Malaysia.
Both parties plan to jointly develop a 22ha piece of leasehold land in Puncak Alam, Ijok, and construct 1,039 mixed-development properties.
PGCG is a 90%-owned indirect subsidiary of Prime Global Capital Group Inc, a public-listed company in the US. It is the registered owner of the land.
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