KUALA LUMPUR (Dec 6): GUOCOLAND (MALAYSIA) BHD []’s unit is acquiring 46.72 acres of land for RM107.8 million around Cheras to expand its land bank for future development which includes residential PROPERTIES [].
Guocoland said on Tuesday that the unit Ace Acres Sdn Bhd had entered into a sales and purchase agreement with Bond Corporation Sdn Bhd to acquire nine parcels of land in Cheras and Mukim Petaling.
It said the land was about 10km south of Kuala Lumpur city centre and located between two prominent townships -- Alam Damai and Bandar Damai Perdana -- in the Cheras locality. Other neighbourhoods are Taman Connaught, The Peak Cheras and Taman Len Sen, it said.
Guocoland said that the proposal was to build bungalows, semi-detached houses, superlink houses, condominiums and shophouses.
The purchase of the land is RM53 psf and will be financed from borrowings, it said.
Guocoland said the acquisition was to increase its land banks in strategic locations for future developments and it expected the projects to boost the group's earnings.
Guocoland said on Tuesday that the unit Ace Acres Sdn Bhd had entered into a sales and purchase agreement with Bond Corporation Sdn Bhd to acquire nine parcels of land in Cheras and Mukim Petaling.
It said the land was about 10km south of Kuala Lumpur city centre and located between two prominent townships -- Alam Damai and Bandar Damai Perdana -- in the Cheras locality. Other neighbourhoods are Taman Connaught, The Peak Cheras and Taman Len Sen, it said.
Guocoland said that the proposal was to build bungalows, semi-detached houses, superlink houses, condominiums and shophouses.
The purchase of the land is RM53 psf and will be financed from borrowings, it said.
Guocoland said the acquisition was to increase its land banks in strategic locations for future developments and it expected the projects to boost the group's earnings.
