Asian Pac Holdings Bhd has proposed to buy 74 acres of land located in Taman Medan, Petaling Jaya for RM300 million (RM93 psf), for the purpose of future property development.
The Sale and Purchase of the land was formalised between its wholly-owned BH Builders Sdn Bhd with Jiwa Murni Sdn Bhd on 25 May 2018.
According to the Group, the sizable Lands will fit a wider mix of products when being developed. Furthermore, the Lands are easily accessible via major highways like NPE and KESAS. The strategic location with good connectivity within the Klang Valley is expected to augur well for future development thus enhancing the prospects and earnings of the Group in the future.
Asian Pac brands itself as a lifestyle developer. It has property development projects across Kuala Lumpur, Johor and Sabah. It also owns and operates Imago Mall in Kota Kinabalu, Sabah.
Lot no: PT12813 – 12817, Mukim and Daerah of Petaling, Selangor Darul Ehsan
Land area: 74 acres
Tenure: Leasehold (expiring on 2 August 2090)
Category of Land Use: Building
Land Price: RM300 mil (RM93 psf)
Date of transaction: 25 May 2018
Vendor: Jiwa Murni Sdn Bhd
Purchaser: BH Builders Sdn Bhd (wholly owned subsidiary of Asian Pac Holdings Bhd)
1. Market Valuation was carried out by Knight Frank Malaysia on 5 Dec 2017 for RM286 mil (RM88 psf).