KUALA LUMPUR (March 14): Meda Inc plans to undertake an integrated township in Sungai Siput, Perak with the proposed purchase of 256.04 acres of land from RM13 million.
The company said its unit Nandex Land Sdn Bhd has signed a sale and purchase agreement with Majuperak Energy Resources Sdn. Bhd to purchase the leasehold land.
Meda said the proposed acquisition, which was was part of its plan to acquire prime land for development. was expected to be completed by March 31, 2013.
“The proposed acquisition would allow Meda Inc to lock in large tract of development land at attractive prices for township development,” it said.
The company said it planned to build two-storey link houses which were within the reach of first-time house buyers. The township would also have two and three storey shops, semi-detaches houses, bungalows and facilities.
“The proposed acquisition is aligned with the group’s view that demand for mass housing targeting first time and younger middle-class home buyers over the next few years will increase,” it said.
The company said its unit Nandex Land Sdn Bhd has signed a sale and purchase agreement with Majuperak Energy Resources Sdn. Bhd to purchase the leasehold land.
Meda said the proposed acquisition, which was was part of its plan to acquire prime land for development. was expected to be completed by March 31, 2013.
“The proposed acquisition would allow Meda Inc to lock in large tract of development land at attractive prices for township development,” it said.
The company said it planned to build two-storey link houses which were within the reach of first-time house buyers. The township would also have two and three storey shops, semi-detaches houses, bungalows and facilities.
“The proposed acquisition is aligned with the group’s view that demand for mass housing targeting first time and younger middle-class home buyers over the next few years will increase,” it said.
