NCSB acquires Puteri Harbour land for RM16.3 million

PETALING JAYA: Nusajaya Consolidated Sdn Bhd (NCSB), a joint venture company equally owned by UEM Land Bhd and United Malayan Land Bhd (UM Land), has acquired a parcel of land in Puteri Harbour in Johor Bahru from Bandar Nusajaya Development Sdn Bhd and UEM Land Bhd for RM16.3 million.

In a joint statement on Nov 10, UM Land and UEM Land said that the acquisition of the 2.2-acre commercial land, which will be utilised for the development of boutique apartments and retail components, was pursuant to the option to purchase agreement.

The low-rise development project, which offers two five-storey apartment blocks and a 96,700-sq ft retail space, will be aimed at owners and investors. It is scheduled for construction next year and scheduled to be completed by December 2012.

The development is envisioned to be a primary activity hub in Puteri Harbour, with a range of food and Beverages (F&B) and retail outlets overlooking the lagoon, with a string of events to be held alongside the promenade.