KUALA LUMPUR (May 4): A unit of United Malayan Land Bhd (UMLand), Seri Alam Properties Sdn Bhd has entered into a land lease agreement and option to purchase property agreement with Pegasus Education Group (M) Sdn Bhd (PEG) to develop an international school and lease it to PEG.
The school will be developed on a 10.35 acres (4.14ha) of land with a built-up area of about 260,000 sq ft, according to UMLand's press release. The land will be leased for 15 years and the buildings will be constructed and leased to PEG in five phases.
The first phase with a capacity of 500 students will commence operations in January 2013, according to the announcement.
The school will be a state-of-the-art institution with modern facilities and technology that offers a Singapore international curriculum, covering kindergarten up to university foundation programme. The total cost of the whole development is estimated at RM66 million.
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