Loan facilities for UEM Land unit

PETALING JAYA: UEM Land Holdings Bhd unit UEM Land Bhd has accepted a bridging loan of up to RM177mil and a bank guarantee facility of up to RM30mil from Malayan Banking Bhd.

The term-loan facility had a tenure of five years and would be used to part-finance its property development projects at Nusajaya in Johor, UEM said in a filing with Bursa Malaysia.

Spanning 9,550ha, Nusajaya is slated to become one of the largest and most prestigious integrated urban developments in South-East Asia.

By The Star