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The contract involves the construction of residential units across two phases.

PWCC is a flagship component of The Light City, a major waterfront development along Penang’s eastern coastline.

The Arden office tower is located within TA Global’s 48-acre Damansara Avenue masterplan, a mixed-use development with direct access to the Sri Damansara MRT station.

The contract was awarded to Ageson Kensetsu Sdn Bhd, a wholly-owned subsidiary of TXCD, by Vestland Resources Sdn Bhd.

According to its exchange filing on Wednesday, the property is being purchased from Ahmad Fuad Ismail and it comprises two individual titles with a combined land area of approximately 401.

A case management was held on Thursday before senior assistant registrar Nur Shasha Hidayah Nor Azhar, where a representative from the Attorney General’s Chambers had entered an appearance for the FT Land and Mines Department.

The project, a joint venture with Belgium-based Port of Antwerp-Bruges International (PoABI), is designed to be a long-term, sustainable maritime and industrial hub that is centred on value-added and innovation-driven industries.

“Make sure that what is advertised is already in the sale and purchase agreement (SPA).

“If you have multiple phases, there are still some issues and grey areas that need to be addressed … We’re seriously looking into it with the government now, hoping that [the old act will be] overhauled to address these issues, especially those concerning strata management,” Tan said.

As part of the proposed listing of Paradigm REIT, shareholders also approved the proposed disposal of three prime retail properties — Bukit Tinggi Shopping Centre (BTSC), Paradigm Mall Petaling Jaya (PMPJ) and Paradigm Mall Johor Bahru (PMJB) — to Paradigm REIT for RM2.