Paragon inks MOU with Solarvest to develop green industrial township in JB
The property developer said the project, located on 141 acres of industrial land in Desa Cemerlang, will upon completion be expected to yield 12.
The property developer said the project, located on 141 acres of industrial land in Desa Cemerlang, will upon completion be expected to yield 12.
UEM Sunrise stated that the disposals of the Lands are in line with its three-phase strategic turnaround plan: Triage, Stabilise and Sustain, particularly under the first phase, Triage, to transform the company into a balanced real estate player with the immediate goal of strengthening financial performance via, among others, monetisation of non-strategic lands.
The property developer said its wholly-owned subsidiary, PGB Iconic Sdn Bhd has entered into a sale and purchase agreement with Besview Holdings Sdn Bhd for the proposed acquisition.
Paragon Union said the disposal provides an opportunity for the group to unlock and realise the value of the property, which it expects to record a net pro forma gain of RM11.
The land is for development of industrial properties with an estimated gross development value of up to RM626 million.
KUALA LUMPUR (June 27): Paragon Globe Bhd is buying three pieces of freehold agriculture plots in Plentong, Johor, for RM38.
KUALA LUMPUR (April 8): Paragon Globe Bhd has proposed a rights issue to raise up to RM56 million to help pay for a property acquisition in Johor and fund the construction of a medical centre in Selangor.
KUALA LUMPUR (March 21): Paragon Globe Bhd has ambitions to become a full-fledged township developer.
KUALA LUMPUR (Dec 21): A report by The Edge Malaysia has zeroed in on a number of land buys in Johor over the past month in an environment where “the number of unsold properties in the state is still high”.
KUALA LUMPUR (Dec 6): Paragon Globe Bhd is acquiring 31.