MK buying Ipoh land


IPOH: MK Land group plans to buy two pieces of land in Ipoh, Perak, to add to its current land bank of over 2,400ha nationwide. 

Executive chairman Tan Sri Mustapha Kamal Abu Bakar said the company was in final negotiations to acquire 40.8ha in Meru in Ipoh while development on 36.8ha in the same area was expected to kick off this year. 

The gross development value for both pieces of land would amount to RM277mil, he said after State Secretary Datuk Abdul Hanan Alang Endut handed over keys to 108 owners of houses in Taman Klebang Putra on Sunday.  

Tan Sri Mustapha Kamal Abu Bakar

Mustapha said the group decided to expand its land bank following the success of the Taman Klebang Putra project and because of support from the State Government. 

“The project would be along the same concept as Taman Klebang Putra, where residents can enjoy landscaped neighbourhoods and facilities such as clubhouse, surau and more. 

”We are complementing the State Government’s development plans,” he added. 

Mustapha said the group, which had projects in Selangor, Perak and Kedah, was also exploring the possibility of expanding into Terengganu. 

However, he declined to elaborate as discussions were still at an early stages. 

Mustapha added that the total development value of the group's land amounted to nearly RM20bil. 

“In the past six or seven years, we have done almost RM4.5bil. So, we are looking at tremendous potential, going forward. If the market is good, we will progress very well,” he said. 

MK Land’s projects include the 20ha Damansara Damai in Sungai Buloh, and the 1,150ha Bandar Lembah Beriah and 566ha Bukit Merah Laketown Resort, both in Perak. 

 MKLAND :  [Stock Watch]  [NewsMKLAND-OA :  [Stock WatchMKLAND-WA :  [Stock Watch]

For latest Bursa Malaysia indices, charts and other information click here

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

Public Mutual declares RM55mil distributions for 9 funds
FBM KLCI slumps to 3-week low
Perodua aims for maximum production, sales in 2023
Oil slips on rate hike worries, Russian export flows
Mavcom allocates 44 air traffic rights in 4Q 2022
MISC welcomes two new generation LNG carriers to fleet
Cryptoverse: Big investors edge back to bitcoin
Asian currencies subdued as investors focus on Fed meeting
IMF revises 2023 global growth forecast upward to 2.9%
Asian stocks edge down as investors eye central bank hikes

Others Also Read