Property developer Eupe Corp Bhd is buying two contiguous commercial 99-year leasehold land plots, measuring 11,551 sqm, in Bandar Petaling Jaya Selatan, Selangor, for RM32.33 million (RM260 psf).
Eupe said the acquisition will add on to its land bank within the Klang Valley region and the intended development on these lands will provide an opportunity for the group to expand and complement its existing business in developing residential and commercial properties here. It intends to pay for the acquisition in cash, funded via internal funds or bank borrowings.
Its wholly-owned subsidiary Eupe PJ South Development Sdn Bhd (formerly known as Puncak Central Sdn Bhd) inked a sale and purchase agreement with Perak-based developer Jurapat Sdn Bhd for the acquisition. Jurapat’s present directors are Mah Go Leng @ Mah Gook Leng, Jacqueline Daniele Roberts and Mah Gook Wah.
source: The Edge
Lot no: Lot Nos. PT1880 and PT1983, Bandar Petaling Jaya Selatan, District of Petaling, Selangor Darul Ehsan
Land area: 11,551 sqm/2.85-acre
Tenure: 99-year leasehold (expiring on 7 April 2109 and 9 October 2112 respectively)
Category of Land Use: Building, with express condition “commercial building”
Land Price: RM32.326 mil (RM260 psf)
Date of transaction: 30 Nov 2018
Vendor: Jurapat Sdn Bhd
Purchaser: Eupe PJ South Development Sdn Bhd (formerly known as Puncak Central Sdn Bhd)