Titijaya Land has signed an MOU with Penang Development Corporation to explore opportunities in developing a prime land on the island.
Penang Development Corporation a body established under the Penang Development Corporation Enactment is the primary agency for the state to be involved in activities include being the government think-tank, industrial park development, township development, urban redevelopment, affordable housing, and investments.
The development site is said to be located Bandar Cassia which the PDC is the premier development responsibility as a master developer of the township at Batu Kawan, Penang. PDC is also the beneficial owner of all the pieces of land located in Bandar Cassia, Mukim 13, Batu Kawan, Seberang Perai Selatan, Pulau Pinang which is referred to as the site earmarked for a mixed development including to build the medical hub, ecotourism, and global business services.
Titijaya is looking to expand its investment to the State of Penang particularly in Bandar Cassia and intend to acquire or lease, or to enter into a joint venture with PDC pertaining a piece of land within the Site measuring approximately 230 acres.
This MOU will be effective for 6 months from the signing.