PETALING JAYA: Farlim Group (M) Bhd

is deepening its exposure to Penang’s urban growth with a new joint venture to build a commercial development in the state’s north-east district, tapping into rising demand for transit-oriented projects.

In a filing dated yesterday, the group said it had entered into a joint venture agreement with Fortune Lander (M) Sdn Bhd to develop freehold land in Mukim 13, Daerah Timur Laut that is currently vacant. The gross development value of the project is estimated to be RM160mil.