Bina Puri acquires land in Sabah for RM4.5m

KUALA LUMPUR: Bina Puri Holdings Bhd, through its wholly-owned subsidiary Bina Puri Properties Sdn Bhd, has acquired an almost 2-acre tract in Kota Kinabalu, Sabah for RM4.5 million.

According to a statement released by the company on Jan 21, the land will be used to develop one block of serviced apartments comprising 100 units with built-ups between 1,500 sq ft and 4,500 sq ft.

Group managing director Senator Tan Sri Tee Hock Seng said: "It is certainly an opportune time to replenish our land bank in order to meet the strong demand for our residential properties in Kota Kinabalu. The land will be developed into a serviced residence, with an estimated gross development value of approximately RM60 million."

Bina Puri has complement developments in the Klang Valley, including Puchong, Cheras, Selayang and Sungai Buloh. In East Malaysia, the developer built the high end Jesselton Condominium in Kota Kinabalu.