Capital World acquires right to develop Johor township for RM63m

Singapore

CATALIST-LISTED property developer Capital World is acquiring a joint development right to develop a township in Johor for RM63 million (S$20.6 million).

Under the joint development right, Capital World will develop five plots of 99-year leasehold lands that will expire on Jan 18, 2114. They have a total area of about 207.5 acres (about 84 hectares), and are owned by Yayasan Pelajaran Johor, an education foundation established by the Johor State Government.