Berjaya Land Bhd is buying 871.01 acres (352.49ha) of freehold lands in Sungai Tinggi, Ulu Selangor, to boost its land bank via a related-party transaction for RM155 million or RM4.085 psf/ RM177,954 per acre. Alam Baiduri Sdn Bhd (a 100%-owned subsidiary of Berjaya Land Berhad) had inked a sale and purchase agreement on 22 September 2016 with BerjayaCity Sdn Bhd (a 100%-owned subsidiary of its parent, Berjaya Corp Berhad) to effect the land deal.
The lands are located further north-west of Bukit Beruntung, and is accessible from the North South Expressway by exiting at the Bukit Tagar Interchange. They are also accessible from Sungai Buloh/Kuala Selangor/Bestari Jaya (formerly known as Batang Berjuntai) via the Bestari Jaya –Tanjung Malim trunk road.
The lands are located within an area zoned for industrial, according to the Planning Department of Hulu Selangor District Council. A notable landmark within the immediate vicinity is the Bukit Tagar Sanitary Landfill (Pusat Pelupusan Sisa Pepejal Bukit Tagar) which is located to the south of the Lands. Industrial areas in the wider vicinity of the Lands include amongst others BB Techno Industrial Park, Taman Perindustrian Suria and Batang Berjuntai Industrial Estate. Currently, the Lands comprise of oil palm estates and vacant lands. The age of the oil palm trees as of 1 August 2016 range between 15 and 26 years old.
Lot no: 8 parcels located at Mukim Sungai Tinggi, Daerah Ulu Selangor, Selangor Darul Ehsan
Land area: 871.01 acre
Transacted price: RM155 million (RM4.085 psf/RM177,954 per acre)
Date of transaction: 22 September 2016
Vendor: BerjayaCity Sdn Bhd (100%-owned subsidiary of Berjaya Corporation Berhad)
Purchaser: Alam Baiduri Sdn Bhd (100%-owned subsidiary of Berjaya Land Berhad)
1. Land was valued by Jones Lang Wootton on 26 August 2016 for RM156.20 million (RM4.116 psf/RM179,332 per acre)