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According to SFI, the land acquisitions by the Sabah government and its conduct post-acquisitions are contrary to public purpose.

Jessica said venturing into the peninsular is not on the table due to a saturated market, which is currently dominated by “big players”.

The development, to span seven years from end-2024, will see the construction of 338 affordable housing units, 1,680 residential units, service apartments, as well as retail shops and offices.

The site is situated in a prime location within Kuala Lumpur’s Golden Triangle, which encompasses the city’s financial hub as well as its main shopping and nightlife districts.

“The holders will still have the opportunity to realise their investment in WMG shares at the prevailing market price on the open market after the closing date.

“We want to assure all stakeholders that we have adhered strictly to all health and safety standards and protocols throughout the construction process,” Tee said.

Demand from the public exceeded the available shares for subscription by some 23 times.

These units are part of the government-sponsored housing programme.

This is after DBKL had received a complaint from residents of PPR Wangsa Sari about an explosion at the J Satine condominium construction site in Wangsa Maju.

“We plan to have 50 branches throughout Malaysia, including in small towns, to help the communities there in managing the purchase and resale of real estate more easily, quickly and safely.