Ageson disposes of land to Kobena

PETALING JAYA: Ageson Bhd’s 99% owned subsidiary, Solidvest Properties Sdn Bhd, has inked a memorandum of understanding with Koperasi Belia Nasional Bhd (Kobena) to sell a 9.325-acre tract of land in Gombak, Selangor, for RM35mil cash.

In a filing with Bursa Malaysia yesterday, Ageson said Kobena intends to appoint Solidvest as the developer for a proposed residential development on the land comprising of 56 semi-detached houses and four bungalows.

The project’s gross development value is estimated at RM85.2mil while the estimated gross development cost is RM41.2mil, which will be jointly financed by Solidvest’s collaboration partner, ShuangLing Holdings Ltd.