Perennial, IJM plan 'iconic' Penang project
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Singapore
PERENNIAL Real Estate Holdings is making its foray into the Malaysian property market by partnering IJM Land Bhd for an over RM3 billion (S$1.12 billion) project in Penang.
The two companies on Tuesday said they had agreed to invest in a 50-50 joint venture (JV) to acquire and develop a 1.4-million-square-foot freehold waterfront site into a large-scale integrated mixed-use development in the Gelugor town on Penang's east coast.
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