KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) has purchased three parcels of freehold land in Bukit

Rahman Putra, Sungai Buloh from Bisraya Acres Sdn Bhd, a wholly-owned subsidiary of Gapurna Sdn Bhd, for RM83 million.

In a statement to Bursa Malaysia yesterday, MRCB said the purchase consideration was arrived at on a “willing seller, willing buyer” basis after taking into account market valuations conducted by two independent registered valuers.

MRCB said the land will be used for residential and commercial development with an estimated gross development value of RM559.1 million. It added that the construction of the residential development is expected to commence in the first quarter of 2015.


This article first appeared in The Edge Financial Daily, on April 15, 2014.

 

SHARE
SPONSORED CONTENT
MVV TechValley powers Malaysia’s next industrial frontier

Far from being an uncongenial concrete quarter, MVV TechValley, as a flagship of MVV City, is designed as a holistic township, comprising not just industrial, but also residential, commercial, and lifestyle components, complete with a central business district.

read more