KUALA LUMPUR: Kumpulan Jetson Bhd is teaming up with Fortress Effect Sdn Bhd to undertake a luxury residential development project in Penang, comprising of 33 high-rise condominiums.
Kumpulan Jetson said on Tuesday Fortress Effect was nominated by China's Everbright International Construction Engineering Corporation to be the co-developer in the project.
Everbright's unit Everbright International Engineering Sdn Bhd will take part in the project on a joint venture basis.
Kumpulan Jetson's entitlement under the proposed joint development would be 30% of the gross development value and Fortress Effect's entitlement 70% of the GDV.
The parties agreed that Everbright International Engineering would be appointed the designated contractor to undertake the construction and completion of the project.
By The Star
Tuesday, July 3, 2012
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment