Oriental in RM2.2bil joint development

KUALA LUMPUR: Oriental Interest Bhd’s wholly-owned subsidiary, OIB Properties (KV) Sdn Bhd (OIBKV), and Kedah State Development Corp (PKNK) will jointly develop a 484.11 ha land in Kuala Muda into a mixed project with a gross development value of RM2.15bil.

OIBKV and PKNK had entered into an agreement on March 8, 2023 to undertake the joint development.

The move is in line with the group’s strategic planning to leverage its strengths in property development and construction to team up with the landowner for successful execution of the contemplated project. — Bernama