SINGAPORE (June 24): Aspen Group Holdings, the Malaysian property developer, is partnering Oxley Holdings to develop a mixed-use integrated project on Penang Island.

Spanning across 29.05 acres (1.27 million sf), the project comprises residential towers with communal facilities, service apartments, lifestyle retail facilities and a private clubhouse.

Aspen Group’s subsidiary company, Aspen Park Hills Sdn Bhd, has signed a conditional sale and purchase agreement with Geo Valley Sdn Bhd, a member of the Lone Pine group, to acquire seven pieces of freehold land in Paya Terubong for RM165 million (S$54 million) for the development.

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