MALAYSIAN Resources Corp Bhd (MRCB) and Pelaburan Hartanah Bumiputera Bhd (PHBB) have set up a joint-venture company, Jewel Surprises Sdn Bhd, to develop a retail complex and associated car park bays at Kuala Lumpur Sentral. The plot of land, known as Lot G, is owned by PHBB's wholly-owned subsidiary Promising Quality Sdn Bhd, which has entered into a lease agreement with Jewel Surprise to lease the retail complex and the car park bays for 99 years. This venture allows both parties to pool their resources and expertise to develop an integrated retail and office complex of 1.5 million gross floor area. The proposed retail complex is expected to add vibrancy to the overall development of Kuala Lumpur Sentral.
(23-1-2008 New Straits Times)
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