Kedah Construction and Langkawi Development Authority agree to carry out a 40-acre Development Project
KUALA LUMPUR (Dec 21): Kedah Construction (BDB, 6173, Main Board Property Unit) and Langkawi Development Authority (LADA) have signed a franchise agreement. development projects.
Relevant development projects will include high-end merchandise and duty-free shops, tourism and cultural villages, retail stores, restaurants, green spaces and boutique hotels, etc. It is expected to take 7 years, while BDBMBI has obtained the franchise for 30 years, starting from May this year. Effective from the 1st. From May 1, 2023, BDBMBI is required to pay LADA an annual franchise fee of RM1.02 million until the expiry of the aforementioned agreement.
BDBMBI is a joint venture between Kedah Construction and the Kedah State Minister’s Institution and was established to implement the above-mentioned development projects.
Kedah Construction closed unchanged at 43.5 sen on Tuesday.
ORIENTAL DAILY | 21/9/2021