Furniture maker SHH Resources Holdings Bhd is buying a piece of freehold residential land in Kajang, Selangor, measuring 2.02 ha or 5 acres for RM10.24 million, making its foray into property development.
SHH disclosed that the property is rectangular in shape, approximately 25 km south-east of Kuala Lumpur and 5.8 km south-east of the Bangi town.
The property is accessible via the SILK Highway, Jalan Reko and Persiaran KWSP onto Jalan Bistari. The property is near to several learning institutions, including Universiti Kebangsaan Malaysia and the German Malaysia Institute. The surrounding area comprises several completed and ongoing housing development schemes. Rampai Pesona intends to convert the land for residential development.
Lot no: Lot 8836, Mukim of Kajang, District of Hulu Langat, Selangor Darul Ehsan
Land area: 5 acres (2.0234 hectares)
Category of Land Use: Nil
Land Price: RM10,236,600 (RM47 psf)
Date of transaction: 17 April 2018
Vendor: Rising Charm Sdn Bhd
Purchaser: Rampai Pesona Sdn Bhd (80% owned subsidiary of SHH Resources Holdings Bhd)
1. Market Valuation was carried out by KGV International Property Consultants on 20 March 2018 for RM10.24 mil.