KSL buys land from S P Setia for RM229mil

PETALING JAYA: KSL Holdings Bhd is acquiring freehold land measuring 72,820 sq m in Shah Alam, Selangor, from S P Setia Bhd for RM228.8mil.

In a filing with Bursa Malaysia, KSL said the acquisition will enlarge the group’s land bank and enhance its future revenue and earnings.

“The land will be used for residential development projects and further enhance its presence in the property market in Selangor.

“The project is expected to commence in 2025 and is envisaged to spread over a period of 10 to 15 years,” it said.