FLSB holds a majority stake in its JV with CDSB. Credit: Suti Stock Photo via Shutterstock.

Fajarbaru Land Sdn Bhd (FLSB) has announced a joint venture (JV) with Care Dynamic Sdn Bhd (CDSB) for a key development project in Seremban, Negeri Sembilan, Malaysia.  

FLSB holds a 60% majority stake in the new JV while CDSB owns the remaining 40% stake.  

The project, named Fajarbaru Dynamic Development, involves the development of Centralized Labor Quarters (CLQ) in Seremban. 

The estimated gross development value of this project is RM172.4m ($37.10m). 

This industrial city development in Peninsular Malaysia will feature 672 units of CLQ across 10.9 acres of area in Sungai Gadut.

Construction is expected to take place over 36 months. 

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Founded in 2022, CDSB is a hostel management company based in Negeri Sembilan while FLSB is a key property developer with a footprint across Malaysia and Australia. 

FLSB operates as a subsidiary of Fajarbaru Builder Group, an investment holding company established in 1976. 

Fajarbaru Builder Group’s subsidiaries are engaged in the construction, property development, logging, timber trading, and plantation sectors.