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KSK to purchase land within KL city centre for RM568 mln
by Cals Thu 26 Dec 2013, 21:56
| KSK to purchase land within KL city centre for RM568 mln |
| Business & Markets 2013 |
| Written by Bernama |
| Thursday, 26 December 2013 19:52 |
KUALA LUMPUR (Dec 26): KSK Group Bhd is acquiring 1.6 hectare piece of freehold land in Jalan Conlay for RM568 million, from Suasana Simfoni Sdn Bhd, which would be used for mixed development.
The sale and purchase agreement inked today, marks the maiden acquisition for KSK's new property development venture, to be undertaken via its unit, KSK Land Sdn Bhd, the company said in a statement.
"We are very excited about the prospects of this Jalan Conlay land, which is well located within one of the choicest parts of the KL City Centre," said Chief Executive Officer Joanne Kua.
She also expressed confidence that KSK would see strong interest from the market, as this location would continue to benefit from various ongoing developments, such as the nearby Banyan Tree residences and Harrods Hotel.
"KSK Land will now focus on completing the land acquisition by the first quarter of next year, while continuing to explore opportunities to expand its land bank in the Klang Valley, Penang and Johor," she added.
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