Within a short span of two years, the Rubber Research Institute (RRI) land in Sungai Buloh has gone up 18-fold to close at RM400 per sq ft (psf) from RM22.50 psf in 2012.
Kwasa Land Sdn Bhd, the master developer of the RRI land, acquired 2,330 acres from RRI in 2012 for RM2.28bil on an agriculture deed costing the company about RM22.50 psf while the average selling price will be at RM187 psf, which is believed to be a new benchmark price for that area then.
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