The Place Holdings Limited announced that it has entered into a Shareholders' Agreement with MCC Land (Singapore) Pte. Ltd. and Ekovest Development (S) Pte. Ltd. to jointly develop a new mixed development project located right next to Tanah Merah MRT interchange. Under the Shareholders' Agreement, the Group will acquire a 20% equity stake in the project company that is developing the mixed development project. MCC Land and Ekovest will take a 51% and 29% equity stake respectively.