Analysts say Sunway’s Kelana Jaya land purchase ‘fair’

PETALING JAYA: The 17acre land in Kelana Jaya which was acquired by Sunway Bhd for RM386.31 per sq ft is deemed “fair”, according to analysts.

In a note to investors, Maybank IB Research analyst Wong Wei Sum said the price Sunway paid for the land was 14% lower than the previous transacted price of RM449 per sq ft paid by Gamuda Bhd in 2012 while the location of the land was strategic.