Tuesday, June 22, 2010

#Flash* BLand's US$200m JV plan in Korea lapses

KUALA LUMPUR: BERJAYA LAND BHD [] and South Korea's Jeju Free International City Development Center (JDC) had decided not to go ahead with the proposed US$200 million theme village after nearly two years.

BLand said on Tuesday, June 22 they had allowed the conditional memorandum of agreement dated Aug 20, 2008 on the themed village project, to lapse and was no longer effective.

Instead, both parties decided to focus their efforts on the development of its current joint venture development project in Jeju with JDC. This project is a resort type residential and commercial complex development project at Yerae-dong, Seogwipo-si, Jeju Island undertaken by Berjaya Jeju Resort Ltd.

For more details, get your copy of The Edge FinancialDaily on Wednesday.

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