Aizo reenters property sector via JV with Lestari Astana

KUALA LUMPUR: Aizo Group Bhd has re-entered the property development sector through a joint venture (JV) with Lestari Astana Sdn Bhd (LASB).

The partnership is established via a newly-formed special purpose vehicle Aizo Astana Sdn Bhd with the company holds a 51 per cent controlling stake, the company said in a statement today.

The structure enables Aizo to oversee the entire development value chain, from consultation and planning to marketing and sales.

This focuses on high-margin, fast-moving projects that target emerging demand in niche market segments.

Executive director Ahmad Rahizal Ahmad Rasidi said said the collaboration marks a shift towards higher-value, market-responsive ventures.

“Through this JV, we aim to deliver projects that are not only profitable but also aligned with evolving buyer expectations and accelerated sales cycles,” he added.

Lestari Astana is developing Phase 1A of Taman Kelemak, Melaka, which will serve as the springboard for Aizo Astana’s upcoming Phase 1B development.

Aizo said with local expertise and culturally-attuned design sensibilities, Lestari Astana enhances the partnership by contributing deep regional insights and on-the-ground execution capabilities.

© New Straits Times Press (M) Bhd

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