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Wednesday, August 11, 2010

Bolton buys land in Gombak

BOLTON Bhd's subsidiary is buying a 9.2 hectare plot of land in Gombak, Selangor from LP Heights Sdn Bhd, for RM72 million.

Ketapang Realty Sdn Bhd. plans to seek approval for the layout amendment of the land to allow the development of gated and guarded community comprising of three-storey semi-detached houses and three-storey bungalow houses.

Currently it has approval for 184 residential units, comprising of 36 units of semi-detached houses, 88 units of terrace houses and 60 units of townvillas.

The proposed development, with a gross development value of RM220 million, is expected to generate RM45 million in gross development profit for the subsidiary.
The development costs will be financed through internal funds and bank borrowings.

By Business Times

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