Magna Prima buys land in Section 13, Shah Alam for RM43 mil to develop condominium
Lot no: Lot 737, Seksyen 13, Bandar Shah Alam, District of Petaling, Selangor Darul Ehsan
Land area: 5.25 acre
Tenure: Leasehold (99 years expiring on 29 May 2102)
Category of land use: Building
Transacted price: RM43 million (RM188 psf)
Date of transaction: 9 June 2016
Vendor: Regalia Raintree Sdn Bhd
Purchaser: Magna City Shah Alam Sdn Bhd
1. Magna Prima proposed to build condominium of 3 blocks/15 storey/315 units and 5 shop offices with 953 parking bays.
2. Estimated GDV of the development is RM220.81 mil.
3. Estimated GDC of RM180.69 mil.
4. Project is expected to start in 3Q2016 and complete by 2019