Jetson in JV to build condo in Penang

Posted on | July 4, 2012

By BUSINESS TIMES

KUALA LUMPUR: Kumpulan Jetson Bhd is developing a luxury residential development project in Penang called The Macalister, comprising 33 high-rise condominium units.

Its subsidiary Jetson Development Sdn Bhd has yesterday entered into a heads of agreement with Fortress Effect Sdn Bhd for the joint development on three pieces of freehold land, measuring a total of 4,486.51 sq m.

Under the agreement, Jetson Development is entitled to 30 per cent of the project’s gross development value and Fortress Effect the remaining 70 per cent.

- Malaysia Real Estate News

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