Lagenda acquires Kuantan parcel for township development


KUALA LUMPUR: Lagenda Properties Bhd and its subsidiairy has entered into a conditional sales and purchase agreement with SST Development Sdn Bhd for the purchase of a 2.03mil sq ft parcel of leasehold land in Mukim Penor, Kuantan for RM33mil.

It said in a filing with Bursa Malaysia that the land is situated off Jalan Kuantan-Pekan about 16k due south west of Kuantan town centre.

Lagenda intends to undertake a sustainable affordable township deveopment with a diverse mix of affordable housing and commercial buildings supported by infrastrcuture as well as a variety of facilities and public amenities, it said.

The estimated gross development value of the proposed development is about RM1bil and it is expected to commence by 2023.

"As the Proposed Development is still at preliminary planning stage, the gross development cost cannot be ascertained at this juncture.

"The source of funding for the Proposed Development will only be determined after the finalization of the details and cost of the development," said Lagenda.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Lagenda , property , development , SST Development

   

Next In Business News

Moody’s: Sustainable bonds issuance to top US$850bil
Public Mutual declares gross distributions of RM235m for 13 funds
Central banks go big on gold buying
Earnings bounce, bond-yield drop help keep party going for US stocks
Bitcoin rallies past key $40,000
PBOC: China will maintain prudent, flexible monetary policy
Bank Rakyat launches entrepreneur programme
CPO futures seen trading with upward bias next week
As scrutiny mounts, crypto exchange Binance to wind down derivatives in Europe
Oil price climbs, notches fourth monthly gain on growing demand

Stories You'll Enjoy


Vouchers