Hap Seng to buy prime commercial land in KL

Hap Seng said the land it is nuying forms part of the 75.5-acre commercial development known as KL Metropolis. (File pic shows another Hap Seng project, TheHap Seng Industrial Park in Shah Alam

PETALING JAYA: Hap Seng Consolidated Bhd has proposed to acquire a parcel of vacant leasehold commercial land known as Met 3, measuring 668,212.79 square feet (sq ft), in Jalan Duta, Kuala Lumpur, for RM868.67mil to strengthen its property development business.

In a filing with the stock exchange, Hap Seng said the acquisition price was based on RM1,300 per sq ft.