UOA Development Bhd is buying 3 parcels of freehold land located in Bangsar South for RM81,092,748 (RM777 psf). The land, measuring 2.39-acre in total, sits in between the under construction Southview development by UOA and NOVUM Bangsar South by Joint Venture of Eupe Berhad and Chin Hin Group. The land is originally planned to be developed by YNH Property Berhad into a serviced apartment.
In Dec 2015, YNH Property Berhad’s unit, Kar Sin Berhad entered into a Memorandum of Understanding with the local unit of Fong Yu Investments Pte Ltd to develop the said land. YNH is the turnkey contractor of the parcels of land with full development rights on it, while the owner of the land is Suileem Realty Sdn Bhd. In YNH Property Berhad’s Annual Report 2016, the parcels of land are listed in the List of Properties owned by the company.
Lot no: Lot 2499, Lot 2497 and Lot 2498, all of Mukim Kuala Lumpur, Daerah Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur
Land area: Total 9,686.682 sqm (2.39-acre)
Lot 2499 – 2873.118 sqm
Lot 2497 – 3614.181 sqm
Lot 2498 – 3199.383 sqm
Land price: RM81,092,748 (RM778 psf)
Date of transaction: 25 May 2017
Vendor: Suileem Realty Sdn Bhd
Purchaser: UOA Development Berhad