Regal Lands Signs MOU With Kontur Asiajaya
Regal Lands Sdn Bhd (“Regal Lands”), a subsidiary of Regal International Group Ltd. (“RIGL”), signed a Memorandum of Understanding (“MOU”) with Kontur Asiajaya Sdn Bhd (“Kontur Asiajaya”) on 16th August 2019 for the purpose of undertaking a joint collaboration to develop and complete the development of a commercial/residential and hotel/resort development together with related infrastructure and amenities in Daerah Tengah Melaka, Melaka, Malaysia (“the said Project”).
This collaboration between Regal Lands and Kontur Asiajaya will see Regal Lands jointly developing the said Project with Kontur Asiajaya through a company owned by Kontur Asiajaya, Evolusi Integra Sdn Bhd (“the Company”), which has obtained the development rights for the said Project.
The said Project will encompass 5 phases of development over 2 hectares of land, and will comprise of retail and commercial shophouses, service apartments and hotels.
It is the intention of the parties to jointly develop, market and manage the said Project to create value and growth, as well as to explore and avenues for expansion in other areas of business ventures.