KPJ in property deal

KPJ Healthcare Bhd (KPJ) has entered into a conditional sale and purchase agreement with Property Base Development Sdn Bhd to buy the seven-storey Maharani Specialist Hospital in Muar, Johor, for RM22 million.

The deal, signed by KPJ’s wholly-owned unit Maharani Specialist Hospital Sdn Bhd, includes the 6.9 million sq m of land which the hospital is sited on.

The Maharani Specialist Hospital building is partially completed and upon completion by the end of 2011, it will be a private specialist hospital.

The estimated further development cost on the property is RM26 million.

By Business Times