Malaysia Vision Valley’s First Phase Will Be In Labu

Malaysia Vision Valley’s First Phase Will Be In Labu

KUALA LUMPUR, 2 June: Sime Darby Bhd has identified 28,327.995ha of plantation land to be developed under the Malaysia Vision Valley (MVV) project, following a reprofiling exercise of its landbank. Mohd Bakke said the land will be injected either into the property division, which will be listed by year-end, or directly into the MVV joint venture company.

“For the first phase, it will only be a small acreage that we will be carving out to work on for the MVV project. We signed an MoU on May 4 with Kumpulan Wang Persaraan (Diperbadankan) (KWAP) and Brunsfield Development Sdn Bhd. The plan is to start working on small acreage first and the location we have in mind is somewhere in Labu,” he told reporters at a results briefing yesterday.

The three parties signed an MoU last month to lead the development of the 153,000ha project and will explore the opportunity to develop the first phase, which forms part of the 11,000ha of land being planned for development.