A photographer on the 40th floor of The Cove condominiums block with the 20-storey Copthorne Orchid Hotel below. - Filepic
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 company 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 RM410mil.
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