Eco World Development Group Berhad’s Acquisition of 200 Acres in Iskandar Puteri

Eco World Development Group Berhad's Acquisition of 200 Acres in Iskandar Puteri

Skrine acted for River Retreat Sdn Bhd.

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 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.

The Skrine team consisted of Theresa Chong (Consultant), Lee Ai Hsian (Picture, Partner) and Seen Qin Ying (Associate).

Involved fees earner: Lee Ai Hsian – Skrine; Theresa Chong – Skrine; Seen Qin Ying – Skrine;

Law Firms: Skrine;

Clients: River Retreat Sdn Bhd;

Author: Sonia Carcano