Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Thursday, August 12, 2010

KHSB to buy land for RM62m

KUALA LUMPUR: Kumpulan Hartanah Selangor Bhd (KHSB) has proposed to acquire two parcels of leasehold commercial land in Section 14, Petaling Jaya, from Majlis Agama Islam Selangor for RM61.72mil.

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


InterRealEstate said...

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...

InterRealEstate said...
This comment has been removed by the author.