Fajarbaru Land Forms Joint Venture for Seremban Project Worth RM172.4m

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 8 January 2024 - Fajarbaru Land (M) Sdn Bhd has entered into a joint venture with Care Dynamic Sdn Bhd to develop a labor quarter project in Seremban, Negeri Sembilan. The project has an estimated gross development value (GDV) of RM172.4 million.

The joint venture is called Fajarbaru Dynamic Development Sdn Bhd, with FLSB having a majority stake of 60%, and CDSB holding the remaining 40%. This collaborative endeavor involves the development of an industrial city in Seremban. A total of 672 units of Centralized Labor Quarters (CLQ) will be established in Sungai Gadut, Seremban. The overall expanse of the project encompasses 10.9 acres, and the projected duration of construction is 36 months.

CDSB, founded in 2022, is a recently established hostel management company located in Negeri Sembilan, Malaysia.

FLSB is a subsidiary of Fajarbaru Builder Group, and it is a prime property developer with presence in various markets in Malaysia and Australia. FLSB completed its maiden development, Rica Residence @ Sentul, KL in 2021. The property developer has also undertaken several other notable projects, namely Vierra Residence in Puchong, Gardenhill in Doncaster, and The Wilds in Northcote. FLSB played a significant role in the development of Paragon on Queen Street, a prestigious skyscraper in Melbourne. The project was honored with the Award of Excellence in the Council on Tall Buildings and Urban Habitat (CTBUH) 2023 Awards Program.

Hashtag: #FajarbaruLand #FajarbaruBuilderGroup #CareDynamic #SungaiGadut #RicaResidence #VierraResidence #Gardenhill #TheWilds

The issuer is solely responsible for the content of this announcement.