In a statement to Bursa Malaysia, KHSB said the land, measuring approximately 38,850 sq m, would be used to develop a service apartment, shop offices and shopping complexes.
It said the acquisition would be settled via bank borrowings and internally-generated funds.
“The proposed acquisition is a continuing effort by KHSB to reposition KHSB Group of Companies as developer of choice as the prime land is in the heart of Petaling Jaya,” it said.
KHSB said the exercise was also to prepare the group for immediate development.
“The present strong economy, coupled with a conducive building environment, high financial liquidity and demand, will augur well for the development and sales plan by the company,” it said.
By Bernama
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2 comments:
The proposed commercial land acquisition of 38,850.m2 for RM61.72m, equivalent to RM147.58 per square feet certainly looks like a good value for money purchase...
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