Berjaya Land ends Korean JV

KUALA LUMPUR: Berjaya Land Bhd's proposed joint-venture with Korea’s Jeju Free International City Development Center (JDC) to build the Themed Village project through a memorandum of agreement (MoA) is no longer effective.

In a filing with Bursa Malaysia on Tuesday, June 22, the company said that both parties came to a mutual agreement that the MoA dated back in August 20, 2008 for the development of the 145-acre land area in San 35-7 Seokwang-Ri, Anduk-Myun, Seogwipo-City, Jeju Special Self Governing Province, Korea has lapsed and is therefore void.

Berjaya said that it has decided to focus on its current joint-venture development project in Jeju with JDC. This current project is a resort-type residential and commercial complex development project at Yerae-dong, Seogwipo-si, Jeju Island that is undertaken by Berjaya Jeju Resort Limited.
Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.