PERAK CORP IN JV FOR RM 506.7M THEME PARK, RESORT PROJECT IN IPOH - Business & Markets 2012 Written by Joseph Chin of theedgemalaysia.com Friday, 23 March 2012 18:34
KUALA LUMPUR (March 23): PERAK CORPORATION BHD is teaming up with Sanderson Project Development (Malaysia) Sdn Bhd for
an animation theme park, resort hotel and serviced apartments in Ipoh.
“The gross development value is estimated at RM506.7 million approximately to develop the project,” said Perak Corp on Friday.
Its unit, PCB Development Sdn Bhd had entered into a heads of agreement with Sanderson Project Development (Malaysia) Sdn Bhd
(SPDM) to set up a joint venture company in which PCB would hold 20% and SPDM 80%.
PCBD is the land owner and developer of BioD city at Bandar Meru Raya, Ipoh -- comprising of residential, commercial, retail and leisure
precincts. SPDM is a special purpose vehicle set up particularly for the project by Sanderson Group Pty Ltd group which design, CONSTRUCTION and operates international tourist and leisure destinations around the world. SPDM will negotiate with third parties in relation to raising funds for the JV to develop the project.