DPS Resources has entered into a Joint Venture Agreement with Mutiara Mahajuta Sdn Bhd for a piece of land measuring 190.09 acres in Melaka for potentially embarking on agro-tourism, crops, biofarms, renewable energy, solar farms, and aqua-phonics.
The group said the land is free from encumbrances and is categorised for agricultural use. DPS Resources has strategically expanded its portfolio, amassing a total of more than 1,000 acres through various means, including joint ventures and acquisitions.
DPS Resources Berhad Executive Chairman, Tan Sri Sow Chin Chuan, said, “Our collaboration with Mutiara Mahajuta is part of our broader strategy to make the most of our large landbank. These landbanks with more than 1,000 acres can cater to different property development and sustainable-focused projects like agro-tourism, bio-farms, and renewable energy initiatives, including solar farms. We aim to tap into the potential of these lands, which we project for a potential gross development value of around RM6 billion. We are also negotiating to secure the neighbouring and adjacent lands surrounding our projects, which will expand our landbank.”
Under the structure of this JV, DPS Resources Berhad shall take charge of the project management and allocating net profits at a ratio of 65% for DPSE and 35% for Mutiara Mahajuta Sdn Bhd. The latter will then redistribute its share to the individual landowners.
