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.
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.
