Plenitude to buy Penang land

PLENITUDE Bhd’s wholly owned unit, Plenitude Estates Sdn Bhd, has agreed to buy 21.3ha of freehold land in Balik Pulau, Penang, from United Formula Sdn Bhd and Affluent Base Sdn Bhd for RM40.1 million.

The land is earmarked for mixed development that includes double-storey and super-link houses as well as 2-3 storey shops with an estimated gross development value of RM230 million.

The development should start in the first half of 2012 and last five years.

By Business Times