Hua Yang gets Shah Alam land

KUALA LUMPUR: Hua Yang Bhd's wholly-owned unit Prop Park Sdn Bhd has won an auction bid to acquire a 1.5ha tract in Shah Alam for RM13 million cash. The purchase price translates into slightly less than RM80 per sq feet for the leasehold land.

In an announcement to Bursa Malaysia on Monday, June 20, Hua Yang said the land is near to Stadium Shah Alam and Laman Seri Business Centre, and is easily accessible via North Path by Guthrie Corridor or Jalan Sungai Buloh and also accessible via South Path by Federal Highway.

Hua Yang intends to develop the land into a mixed commercial and residential development of 470 units, with an estimated gross development value of RM175 million.