UM Land and Tradewinds to develop 629-acre Johor land

KUALA LUMPUR: United Malayan Land Bhd (UM Land) shareholders have given the green light for a joint-venture project with Tradewinds Johor Sdn Bhd in Bandar Pulai Jaya, Johor in an EGM on Oct 1, 2009.

UM Land, together with Tradewinds Johor, an indirect wholly- owned subsidiary of Tradewinds Corporation Berhad will govern Extreme Consolidated Sdn Bhd for the development of a piece of freehold land measuring 629.25 acres.

Extreme Consolidated, a unit of UM Land, will acquire the freehold land from Ambang Budi Sdn Bhd and Hartaplus Realty Sdn Bhd for RM233 million.

The land is for a proposed mix development comprising industrial and technology parks, commercial, logistics and transportation hubs as well as supporting residential components.

It is reported that the project, which is scheduled for completion in five years, is expected to yield a gross development value of RM718 million.

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