DA Land is looking for a partner for The TWO (Theme park resort, Wholesale city, Outlet mall) development in Rawang, Selangor.
The Edge Markets reports that DA Land Sdn Bhd is seeking to sell off an 80% stake for RM160 million.
Plans for The TWO were unveiled four years ago and include shophouses, a mall and an indoor theme park and water park on a 51-acre site.
Due to difficulties obtaining financing and commitments from retailers as well as falling property prices, the total gross development value has been scaled down from RM5 billion announced to RM3 billion. DA Land is also open to offers for options at a smaller scale.
In 2014, DA Land signed a memorandum of understanding with themed-attraction specialist Sanderson Group to assist in the design of the theme park element of the development.
Phase 1 of the project could be completed in 2019.
Images: DA Land