Wednesday, September 30, 2009

MEDIA CLIPPINGS

KUALA LUMPUR: MAGNA PRIMA BHD is acquiring two pieces of land, totalling 28,148 sq metres in Petaling Garden from Petaling Garden Sdn Bhd for RM48.48 million.

Magna Prima said the first piece of land was 16,790.363 sq. metres (180,736 sq. ft) and the second piece, measuring 11,358 sq. metres (122,260 sq. ft) together with a row of 15 single storey lock-up shops at Jalan 5/44 Petaling Garden.

It said the total purchase consideration of the PROPERTIES was RM48.48 million or RM160 per sq ft.

Magna Prima said the properties were for future development purposes.

It added the proposed acquisition would increase its land bank and was in line with the group’s corporate strategy to develop strategically-located land in high-density areas, with easy accessibility and significant gross development value, for the development of lifestyle-themed projects within a short turnaround time...

(More detail, read The Edge, http://www.theedgemalaysia.com/index.php?option=com_content&task=view&id=148767&Itemid=79)

Posted by DAVID YEK TAK WAI (email:yektakwai@hotmail.com) at 12:55 AM
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