Sime Property, Sunrise in JV for RM1b property project

KUALA LUMPUR: Sime Darby Property Bhd and Sunrise Bhd have formed a partnership through a 50:50 joint-venture (JV) company named Sime Darby Sunrise Development Sdn Bhd. The JV company will develop three lots of freehold commercial land measuring 20.95 acres in the 180-acre Bukit Jelutong. Its gross development value is estimated to be RM1 billion. Work is expected to begin in 2011, according to the companies on Tuesday, Jan 26.