TA Global in JV to develop Sydney residential project

KUALA LUMPUR: TA Global Bhd is teaming up with Charter Hall Group to develop the $600 million Little Bay residential development project in Sydney, Australia.

TA Global said on Tuesday, Oct 19 the alliance would complement its corporate strategy to expand its property development management activities into Australia thereby enhancing TA Global Group’s activities in Australia.

In addition, the alliance is expected to increase the revenue stream and return of TA Global group, it said.

The venture will be undertaken has via its units Global Development Pty Ltd and TA Antarabangsa Development Ltd on a 50:50 development sponsorship arrangement with Charter Hall Group.

At 10.40am, TA Global rose 1.5 sen to 45 sen with 1.49 million shares done.

By The EDGE Malaysia