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.

Tuesday, June 7, 2011

UOA arm acquires land for RM50m

UOA Development Bhd, through its wholly-owned unit, Magna Tiara Development Sdn Bhd, has acquired two parcels of freehold land in Sri Petaling for RM50 million from Sim Nam Housing Development
Co Sdn Bhd.

In a filing to Bursa Malaysia today, UOA said it proposed to develop the 1.94-hectare land into high-rise residential and the development was expected to commence in the fourth quarter of 2011.

"The land is strategically located approximately 15 km from Kuala Lumpur City Centre, within the mature suburbs of Sri Petaling, which is a densely-populated and highly-accessible residential area," it said.

In a separate statement, the group said its wholly-owned unit, Paramount Properties Sdn Bhd, has won the 2011 Green Building Index Provisional Gold Rating award.

The award was awarded for its four office towers located at The Horizon, Phase 2, it said.

Its chief operating officer, David Khor, said the award marked the beginning of the group's venture into Malaysia's green economy, particularly through its flagship development, Bangsar South City.

By Bernama

No comments: