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- The lands are in Titiwangsa, close to major highways and amenities, and will be combined for a serviced apartment project with about 240 units, estimated at RM130 million GDV.
PETALING JAYA (June 3): Lim Seong Hai Capital Bhd ((LSH Capital)’s subsidiary, Lim Seong Hai Development Sdn Bhd, has bought three land parcels in Kuala Lumpur for RM17.4 million.
According to its exchange filing on May 30, the acquisitions include a freehold plot of 910.51 sq m for RM7.6 million, a leasehold plot of 286 sq m for RM2.6 million, and another freehold plot of 1,241.84 sq m for RM7.2 million.
The lands are in Titiwangsa, close to major highways and amenities, and will be combined for a serviced apartment project with about 240 units, estimated at RM130 million gross development value (GDV).
The acquisitions should complete by the second half of 2025. Construction is planned to start in 2027 and finish by 2030.
The purchases will be funded internally, with no immediate effect on the company’s share capital or debt. While the project carries standard development risks, LSH Capital expects it to boost future earnings and add to its construction orderbook.
With this project, LSH Capital’s property development portfolio will total RM1.68 billion in GDV, improving earning visibility through 2029 and supporting long-term growth.
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