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Malaysia's Berjaya Land in JV for Maldives resort
Reuters Translate This Article
28 March 2008
KUALA LUMPUR, March 28 (Reuters) - Property developer Berjaya Land Bhd has entered a joint venture to build a $115 million resort under the Ritz-Carlton brand in the Maldives, Berjaya said on Friday.
The venture, owned about 57 percent by Berjaya Land, will hold 80 percent of the local company formed to build and operate the 90-villa resort on Ekulhivaru island, it added. The other 20 percent would be held by the Maldives Tourism Development Corp.
($1=3.197 Malaysian Ringgit)
(Reporting by Mark Bendeich: Editing by Niluksi Koswanage)
Copyright 2008 Reuters. Reprinted with permission from Reuters. Reuters content is the intellectual property of Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon.
Reuters and the Reuters Sphere Logo are registered trademarks of the Reuters group of companies around the world. For additional information about Reuters content and services, please visit Reuters website at www.reuters.com. License # REU-1160-MES
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