Monday, October 22, 2007

BLand plans US$500mil project in South Korea

BLand plans US$500mil project in South Korea

KUALA LUMPUR: Berjaya Land Bhd (BLand) is planning a mixed residential and commercial development valued at about US$500mil in South Korea's Jeju Island.

The company said it would form a joint venture with South Korea's Jeju Free International City Development Centre (JDC) to build a resort-type residential and commercial complex.

JDC is a government agency tasked with overseeing the overall development of the Jeju Special Self-Governing Province in South Korea.

The planned development would comprise up to 1,500 housing units, a 500-room hotel, a full-fledged casino, a commercial complex and a medical centre, BLand said.

BLand would own 81% of the joint venture company which will be the master developer of the project. – AFX-Asia

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