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The company will be meticulously planning the development in order to add value.
Yang Huiyan, the majority owner of Chinese property developer Country Garden Holdings Co Ltd, is listed as No. 6 in the Forbes China Rich List 2017.
The company said it had also registered a RM278 million gain from the sale of its 40% stake in Seriemas Development Sdn Bhd.
The store is its first in southern Peninsular Malaysia and its largest in Southeast Asia.
The hearing for the stay application to stop a proposed high-density mixed development in Taman Rimba Kiara (TRK) is fixed at Dec 13 at the Kuala Lumpur High Court.
The built-ups of the serviced apartments range from 624 sq ft to 1,001 sq ft, while prices will range from RM593,888 to RM1 million.
Shares in Amcorp Properties Bhd rose 5.13% in thin trade this morning.
The company currently has property projects with a cumulative GDV of RM3.16 billion.
The conflict between the federal and state governments in terms of land ownership and administration in Malaysia can be better addressed if an integrated cadastral mapping and land registry system is introduced.