The move marks a concrete step towards realising the 600-hectare industrial park, following an initial joint venture agreement signed in October last year, said Tanco in a bourse filing on Friday.
The single-storey detached warehouse comes with an annexed double-storey office, as well as a 1½-storey detached warehouse and other ancillary buildings, which were built upon a portion of leasehold land.
In a bourse filing, HCK Capital said its indirect wholly-owned subsidiary Reside Capital Sdn Bhd has entered into two conditional sale and purchase agreements (SPA) with Bandar Setia Alam for the land acquisition.
The BTS model may be implemented through a risk-sharing partnership, such as the BTS 10:90 scheme, where buyers pay 10% upfront and the remaining 90% upon completion.
The project comprises a total of 1,260 units across three towers, ranging from 19 to 20 floors.
The mall will host “an eclectic mix of arts, culture and community-driven activities, headlined by the internationally acclaimed Swiss Dream Circus”.
“Most buyers aren’t even sure what they’re working towards.
Under the tie-up, Samsung will supply integrated smart systems for energy management, security enhancement and connectivity optimisation in selected IJM Land properties.
The talks centre around a comprehensive plan that includes the cost to complete the project, cash flow management, traffic impact analysis, toll rates and other factors essential for ensuring the project's viability.
The buyer is EC Excel Wire Sdn Bhd, a company wholly owned by an individual named Ng Heng Hong, according to Chin Hin in a bourse filing announcing the deal on Thursday.
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