KUALA LUMPUR (Aug 5): AIZO Group Bhd (KL:AIZO), formerly known as Minetech Resources Bhd, has re-entered the property development sector through a joint venture (JV) with Lestari Astana Sdn Bhd (LASB).

The collaboration is executed via a special purpose vehicle, AIZO Astana Sdn Bhd, in which AIZO holds a 51% controlling stake.

Through the vehicle, AIZO will oversee the full value chain, from consultation and planning to marketing and sales, focusing on higher-margin, fast-moving developments.

In a media statement on Monday, executive director Ahmad Rahizal Ahmad Rasidi said the move marks a shift towards higher-value, market-responsive projects.

“Our collaboration with LASB marks more than just a return to property. It represents a deliberate move towards higher-value, market-responsive development. With this JV, we are positioned to deliver projects that are not only profitable but also aligned with current buyer demand and sales velocity,” he said.

The JV’s first project is Phase 1B of Taman Kelemak in Melaka, following LASB’s ongoing Phase 1A.