Lagenda to develop Johor land for RM85mil

PETALING JAYA: Lagenda Properties Bhd, via its indirect wholly-owned subsidiary Opti Vega Sdn Bhd, has entered into a development rights agreement with Intact Corporate Approach Sdn Bhd (ICA) to develop land in Kota Tinggi, Johor for RM85.38mil.

In a filing with Bursa Malaysia, Lagenda said the land comprises four parcels and one hundred sixty-four lots of adjoining vacant land, measuring approximately 112.024 acres.

Lagenda said the proposed development rights agreement is in line with the group’s strategic plan to leverage on its strengths in property development and construction by teaming up with ICA