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Farlim Group, Fortune Lander sign RM160 million Penang commercial venture

Farlim Group (Malaysia) Bhd. and Fortune Lander (M) Sdn. Bhd. signed a joint venture agreement to develop a freehold site in Penang worth up to RM160 million.

Source: Farlim Group (Malaysia) Bhd · August 2, 2026 at 10:57 PM · AI-assisted report

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Farlim Group, Fortune Lander sign RM160 million Penang commercial venture
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Photo: HundenvonPenang / CC BY-SA 4.0

PENANG, 3 AUGUST 2026 —

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Farlim Group, Fortune Lander to Develop RM160 Million Commercial Project in Penang

Market Impact

Farlim Group (Malaysia) Bhd. and Fortune Lander (M) Sdn. Bhd. have signed a joint venture agreement to develop a freehold commercial site in Penang valued at up to RM160 million. The collaboration was formalized during a signing ceremony at Farlim Group’s Penang office, attended by key executives from both companies.

The joint venture aims to deliver up to 400 commercial units, including semi-detached shops and bungalow shops, with an estimated turnover of RM160 million. The project is expected to contribute to Penang’s commercial real estate sector, though further details on the site location and timeline remain undisclosed.

Tan Sri Dato’ Seri Lim Gait Tong, Chairman and Chief Executive of Farlim Group, led the ceremony alongside company directors and representatives from Fortune Lander. The agreement was signed by Lim Gait Tong and Lim Chu Dick for Farlim Group, and Ooi Choi Kiat and Yong Ah Yaw for Fortune Lander, with legal witnesses from Ezrilaw Firm and W.A. Lau & Partners.

The outlook for the project remains positive, given Penang’s ongoing demand for commercial properties. However, market conditions and regulatory factors may influence its progress. Further updates on construction timelines and sales strategies are expected in due course.

Related: Penang

Reporting based on Farlim Group (Malaysia) Bhd. Figures and claims are subject to revision as the story develops. DomainFork publishes editorial context, not investment advice — see our editorial standards.

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