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Comprising four storeys, AEON Mall Mean Chey has a total gross floor area of about 298,000 square metres with approximately 250 retail lots.

The project will be developed on a 20-acre land, the group said in a filing with Bursa Malaysia, without specifying the location of the plot.

Shares of S P Setia has surged 95% so far this year, significantly outperforming the property sector’s 25% year-to-date increase, due to the slew of one-off gains.

The main crux of the concerns centres around the issue of the “consent threshold” to be gathered from property owners before a development is redeveloped under the new law.

The RE Industrial Park is part of the one gigawatt hybrid solar power plant project and is one of the flagship catalytic projects under Malaysia’s National Energy Transition Roadmap (NETR).

The development could host some 1,600 new homes with an estimated gross development value over £3 billion (RM17.

The group said RM16 million of the purchase price will be satisfied via the issuance of 17.

This will be NCT Group’s second industrial park development project.

Eupe Corp, which is planning to finance the consideration through internal funds and borrowings, said the proposed acquisition aligns with the group’s expansion objective and growth strategy by adding suitable land to its land bank, and expanding its property development portfolio to increase income.

Spanning 25,083 square meters, the facility, which began operations in October 2023, manufactures cable tie products.