SunCity project in Penang

SUNWAY City Bhd’s wholly-owned unit, Sunway City (Penang) Sdn Bhd, had on August 4 agreed to buy 32.74ha of land for residential development in Barat Daya district, Penang, from Sungei Ara Holdings Sdn Bhd for RM38.76 million.

SunCity said the area will have an estimated gross development value of RM800 million when fully developed.

“The proposed development for the new land bank consists of semi-detached houses and bungalows which will strengthen SunCity’s presence in Penang,” it told Bursa Malaysia yesterday.

By Business Times