Malaysian Resources Corp Bhd (MRCB) and CMY Capital Sdn Bhd are partnering up to buy a piece of land at the KL Sentral area for RM121 million.
The companies have formed a joint venture outfit called One IFC Sdn Bhd in February who will purchase the land from Kuala Lumpur Sentral Sdn Bhd.
The freehold land, known as "Lot C" will be developed into a mixed development with a total gross floor area of 1.4 million square feet.
Development of Lot C is expected to start next year and will continue for four years.
