PETALING JAYA, 20 June: Ivory Properties Group Bhd plans to jointly develop a 3,351 sq m leasehold land into a mixed project in Kuala Lumpur.
In a stock exchange filing last Friday, Ivory Properties said its wholly owned unit, Ivory Times Square Sdn Bhd, had entered into a joint-venture agreement with LLK Properties Sdn Bhd for the proposed development of the land.
“The joint venture is in line with the group’s strategic planning of expanding its reach outside of the Penang state and securing partnerships with strategically placed land bank for development,” Ivory Properties said.
“Barring unforeseen circumstances, the board believes the development is expected to contribute positively to the earnings of the Ivory Group in the future,” it added.
— THE SUN