Ayer Holdings Unit Proposes To Acquire Two Land Parcels In Kuala Lumpur For RM138 Mln
KUALA LUMPUR, Sept 28 (Bernama) -- Ayer Holdings Bhd’s wholly owned subsidiary Kuchai Urban Development Sdn Bhd planned to acquire two parcels of land located along Jalan Kuchai Lama, Kuchai Lama from Bukit Cemerlang Sdn Bhd for RM138 million.
The land is situated within a matured township development known as Kuchai Lama and the immediate vicinity of the subject scheme mainly developed with two- to three-storey shophouses/ shop offices, single- storey terraced houses, apartments, condominiums as well as serviced apartments.
“The proposed acquisition is undertaken in line with the group's business strategy to grow its property business by increasing its present landbank and/or undertaking further property development projects,” it said in a filing with Bursa Malaysia today.
Ayer said the group had previously focused its property development business within Bandar Bukit Puchong and building on the successful completion of these projects, the group intends to broaden its geographical footprint beyond Bandar Bukit Puchong to enhance its growth prospects and reduce concentration risk arising from reliance on a single township.
“The proposed acquisition of the subject land in Kuchai Lama represents an opportunity to expand its portfolio within the Klang Valley, an established and mature neighbourhood within Kuala Lumpur, which is supported by a diverse population base ranging from young professionals to growing families, driving demand for both residential and lifestyle offerings.
-- BERNAMA