PETALING JAYA: Sunway Bhd
has acquired prime land in the neighbourhood of Mutiara Bukit Jalil following its 100% acquisition of Sterling Paradise Sdn Bhd.
The group’s wholly-owned subsidiary Sunway City Sdn Bhd inked an agreement to acquire Sterling Paradise at RM15mil, which come with the rights to 47 parcels of freehold land measuring 11.8 acres.
Sunway said the lands are strategically located for a potential residential-led mixed-use scheme.
It added that Sterling Paradise secured the lands on relatively favourable terms at a purchase consideration of 15% of the gross development value of the future development, less a fixed sum of RM36.7mil.
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