Magna buys land for RM43mil in Shah Alam for residential development

PETALING JAYA: Property developer Magna Prima Bhd has acquired 5.25 acres leasehold land in Shah Alam for RM43mil cash to be developed into a residential project.

In a filing with Bursa Malaysia, Magna Prima said its wholly owned subsidiary, Magna City Shah Alam Sdn Bhd, had entered into a conditional sale and purchase agreement with Regalia Raintree Sdn Bhd to purchase the land located in Seksyen 13, Shah Alam adjacent to the Kelab Golf Sultan Abdul Aziz Shah.