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Friday, April 23, 2010

Encorp to buy land in Pulai for RM26m

ENCORP Bhd, a property developer, plans to buy a piece of freehold land in Pulai, Johor, from UEM Land Bhd for RM26 million to build commercial and residential properties.

It plans to build properties with an indicative gross development value of RM330 million, Encorp said in a statement to Bursa Malaysia yesterday.

Work is due to start in 2011 and span five years. Encorp will use internal funds, borrowings, or both for the deal.

By Business Times

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