PETALING JAYA, (Oct 30): Titijaya Land Berhad is partnering with Amona Development Sdn Bhd to develop a 2.7-acre plot of government-owned land in Bukit Bintang, Kuala Lumpur.
Titijaya and Amona have signed a shareholders agreement to form a joint-venture company, Metrogale Development Sdn Bhd, to undertake the development.
In exchange for the proposed development, the JV consortium has proposed to build school facilities in the Kuala Lumpur and Greater Klang Valley areas, the companies said in a press release statement today.
“This new JV project is part of the group’s land banking strategy, which increases our presence in KL city. We hope that our support of the government in developing school facilities will improve support infrastructure for education and move Malaysia forward in achieving its goal of being a developed nation.” said Titijaya managing director, Tan Sri Datuk Lim Soon Peng.
Bukit Bintang, one of Kuala Lumpur’s original neighbourhoods, is considered a premium area for its location in the central business district and tourist quarter of the city.