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Yong Tai gets backing from new China partners to expedite 100-acre land development at Impression City, Melaka
Yong Tai Bhd has received backing from its new partners from China to resume development of its 100-acre land “Impression City” in Melaka, following a delay due to the Covid-19 pandemic.
In a statement today, the property developer said it has entered into a collaborative agreement with various parties including Opustique Infinity Ltd (OIL), Cheng Ho International Trade Centre and Culture City Centre Sdn Bhd (Chengho) and Oriental Impression City Development Sdn Bhd (Oriental), which would see the restart of the development of Impression City, which was affected by the Movement Control Order (MCO) imposed to contain the spread of Covid-19 infections.
Under the agreement, Chengho and Oriental will collaborate with new investors and state-owned enterprises from China to invest and seek the requisite investment funds to finance the project development.
despite the delay in the development of Impression City project amidst the pandemic, YTB has remained committed to its vision to transform Malacca into a tourism hub and real estate hub with its Impression City development.
