Gadang in JV to develop 2,500 homes in Cyberjaya
KUALA LUMPUR (August 7): Gadang Holdings Bhd and Cyberview Sdn Bhd have formed a joint venture to develop 2,500 residential units on 44ha (109.31 acres) of land in Cyberjaya, Selangor.
In a statement to the exchange, Gadang said it has accepted the letter of acceptance (LOA) for the proposed project from Cyberview which owns the land.
Both firms will sign a definitive agreement which will specify the terms and conditions of the project.
“A further announcement on the salient terms and conditions of the agreement shall be released by the company (Gadang) upon signing of the agreement,” Gadang said.
The LOA follows a memorandum of understanding last April between Gadang and Cyberview for the real estate project.