UEM Land Berhad, the master developer of Nusajaya and Bandar Raya Developments Berhad (BRDB), a premier luxury developer in Malaysia, recently signed a deal to jointly develop Residential North in Nusajaya, Johor.

The agreement followed BRDB’s acquisition of a 60% stake in Haute Property Sdn Bhd in July this year from Dubai World’s Limitless Holdings Pte Ltd. resulting in BRDB replacing Limitless as UEM Land Berhad’s partner to develop the project.

Haute Property which was formed in December 2007 is a special-purpose vehicle set up to undertake the development of Residential North in Puteri Harbour, Nusajaya. The development of Residential North in Puteri Harbour, Nusajaya is expected to be developed in six phases over seven years with the construction of Phase 1 scheduled to commence in Q3 2011.