PETALING JAYA: A parcel of land in Kuala Lumpur’s shopping district of Bukit Bintang has been acquired by Urusharta Cemerlang (KL) Sdn Bhd at a record price of RM210mil from CDL Hotels (M) Sdn Bhd, a unit of London-based Millenium & Copthorne Hotels plc.
At 29,127 sq ft, the land parcel located between Grand Millenium KL hotel and the Pavilion KL mall would be acquired for approximately RM7,209.80 per sq ft, surpassing estimates in earlier reports that the sale could fetch more than RM3,000 per sq ft or around RM96mil.
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