Transaction News: Iskandar Investment’s Subsidiary Completes Disposal of Land (Update)

On 1 March 2021, Eco World Development Group Berhad announced the completion of the acquisition by its subsidiary, Melia Spring Sdn Bhd, on 26 February 2021 of 200 acres of freehold land located in Iskandar Puteri, Johor Darul Ta’zim, from River Retreat Sdn Bhd, an indirect subsidiary of Iskandar Investment Berhad. The announcement by Eco World can be accessed here.
 
The purchase consideration for the land comprised a base price of RM304,920,000 and interest costs to be paid by Melia Spring Sdn Bhd over a 7-year period.
 
River Retreat Sdn Bhd was represented by Theresa Chong (Consultant), Lee Ai Hsian (Partner) and Seen Qin Ying (Associate) of our Firm.
 
Further details of the transaction are available here.