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E&O and Pulau Indah in JV to build Nusajaya township
by hlk Wed 29 Jun 2011, 08:15
KUALA LUMPUR: Eastern & Oriental Bhd (E&O) has entered into a shareholders' agreement with Pulau Indah Ventures Sdn Bhd to develop a wellness township Nusajaya.
Nusajaya is a flagship zone of Iskandar Malaysia.
E&O (via wholly-owned subsidiary Galaxy Prestige Sdn Bhd) and Pulau Indah have agreed to establish a 50:50 joint venture (JV) company named Nuri Merdu Sdn Bhd.
Pulau Indah is a 50:50 JV between Khazanah Nasional Bhd and Temasek Holdings.
This will be E&O's maiden foray into Johor.
The 210-acre freehold land for the proposed development is 15 minutes away from the Tuas Second Link to Singapore, and is owned by Iskandar Investment Bhd, a 60% subsidiary of Khazanah.
Nusajaya is a flagship zone of Iskandar Malaysia.
E&O (via wholly-owned subsidiary Galaxy Prestige Sdn Bhd) and Pulau Indah have agreed to establish a 50:50 joint venture (JV) company named Nuri Merdu Sdn Bhd.
Pulau Indah is a 50:50 JV between Khazanah Nasional Bhd and Temasek Holdings.
This will be E&O's maiden foray into Johor.
The 210-acre freehold land for the proposed development is 15 minutes away from the Tuas Second Link to Singapore, and is owned by Iskandar Investment Bhd, a 60% subsidiary of Khazanah.
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