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E&O eyes land in Sungai Buloh
by Cals Thu 26 Sep 2013, 17:27
Published: Thursday September 26, 2013 MYT 12:00:00 AM
Updated: Thursday September 26, 2013 MYT 7:46:51 AM
E&O eyes land in Sungai Buloh
PETALING JAYA: Eastern & Oriental Bhd (E&O) plans to buy 135 acres of land in Sungai Buloh, Selangor from Sime Darby Bhd’s unit for a proposed commercial real estate and lifestyle residential development project.
E&O, in a filing with Bursa Malaysia, said this would be its first township development in the Klang Valley, which could potentially be a vital new growth engine for the group.
The property developer had inked a memorandum of agreement (MoA) with Sime Darby Elmina Development Sdn Bhd for the proposed purchase of the freehold land, which is part of the 843-acre plot under the larger Elmina West estate.
“It is intended that E&O (or its nominated subsidiary) will develop the said land based entirely on a ‘wellness’ theme, consisting of both commercial real estate and lifestyle residential development,” it said.
E&O said the MoA, which would lead to a sales and purchase agreement was is in line with the objectives of the collaboration dated Aug 27, 2011.
Updated: Thursday September 26, 2013 MYT 7:46:51 AM
E&O eyes land in Sungai Buloh
PETALING JAYA: Eastern & Oriental Bhd (E&O) plans to buy 135 acres of land in Sungai Buloh, Selangor from Sime Darby Bhd’s unit for a proposed commercial real estate and lifestyle residential development project.
E&O, in a filing with Bursa Malaysia, said this would be its first township development in the Klang Valley, which could potentially be a vital new growth engine for the group.
The property developer had inked a memorandum of agreement (MoA) with Sime Darby Elmina Development Sdn Bhd for the proposed purchase of the freehold land, which is part of the 843-acre plot under the larger Elmina West estate.
“It is intended that E&O (or its nominated subsidiary) will develop the said land based entirely on a ‘wellness’ theme, consisting of both commercial real estate and lifestyle residential development,” it said.
E&O said the MoA, which would lead to a sales and purchase agreement was is in line with the objectives of the collaboration dated Aug 27, 2011.
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